Bitcoin just a bubble?

[Zery]

I don’t think it’s just a bubble, do you? A lot of people say it is and that it’ll burst any time. But it hasn’t for years, how come?

 

[hgbf]

Even if it has been around for years, it has just recently gained attention. Soon the hype will go away. There are also many other way the bubble could burst. Bitcoin a lot different from a lot of other types of investments.

One thing you need to know is that 40% of all bitcoin is held by 1000 people. These people could change the market really quickly.

Personally, I think bitcoin will keep on rising for a couple months, maybe a year, but then it will make a massive drop.

 

[Fire]

I'll tag KingDrizzy he always likes to have a good moan about bitcoin saying how it will fail. He'll likely tell you his reasoning.

 

[AdamEdits]

I don’t think it’s just a bubble, do you? A lot of people say it is and that it’ll burst any time. But it hasn’t for years, how come?

Its only backed by hype really, and unlike any other currency. Once that hype is gone, all the worth of bitcoin is gone.

No doubt itll problably keep increasing but it is a bubble.

 

[Zery]

Even if it has been around for years, it has just recently gained attention. Soon the hype will go away. There are also many other way the bubble could burst. Bitcoin a lot different from a lot of other types of investments.

One thing you need to know is that 40% of all bitcoin is held by 1000 people. These people could change the market really quickly.

Personally, I think bitcoin will keep on rising for a couple months, maybe a year, but then it will make a massive drop.

Another thing to note; the top 100 richest people in the world have the amount of money equivelant to the poorest 50% on earth.

Also, I believe that Bitcoin will be one of the main currencies, considering most CPU’s are based on Bitcoin around the world and there are large as hell Bitcoin mining data centers.

 

[Ivain]

The extremely high values were definitely symptoms of a bubble, but that doesn't mean it'll suddenly become worthless. It'll need to go REALLY wrong for bitcoin to drop below $5K in the next few years.

 

[Zery]

"CPU's are based on Bitcoin"

???

Do some research on Bitcoin?

 

[Latestrify]

Explain how CPU's are based on bitcoin lol. I find that highly inaccurate

You need a half ass decent CPU to mine bitcoin, and you also need a decent GPU aswell, if you don't know a little about bitcoin then don't say anything at all lmfao.

 

[Latestrify]

I mine crypto lol but when he said "CPU's are based on Bitcoin" thats a completely wrong way to say it.

Yeah, but you need miners to complete the transactions... unless you wanna do it at a slow ass speed and gain no progress what so ever.

 

[Latestrify]

Thats not what I'm saying. Obv you need a good ass gpu to mine, but "CPU's are based on Bitcoin" is a completely wrong way to say it. Hence why I said "????"

Yeah but you could have said it in a different way.

 

[Zery]

Thats not what I'm saying. Obv you need a good ass gpu to mine, but "CPU's are based on Bitcoin" is a completely wrong way to say it. Hence why I said "????"

No? Most CPU's around the globe are currently built upon BitCoin, their processors are powered by Bitcoin and it's what gives them certain speeds. Do you even know what a blockchain is? It's a bunch of mathematical equations in binary which basically builds a CPU.

 

[Ivain]

Ok, lets get this confusion out the way. Does CPU in this context stand for Central Processing Unit, that thing that does the calculations needed for running a PC? Or does it refer to something different in this context? Im pretty sure that's where the confusion comes from.

 

[Zery]

Ok, lets get this confusion out the way. Does CPU in this context stand for Central Processing Unit, that thing that does the calculations needed for running a PC? Or does it refer to something different in this context? Im pretty sure that's where the confusion comes from.

Yep, Central Processing Unit is what it stands for, what else would it stand for?