Bitcoin IS NOT In A Bubble, And Here Is Why...
From Greg M
Lions.
We have been hearing now FOR YEARS! That Bitcoin is in a bubble...
With that, I am going to tell you why Bitcoin IS NOT in a bubble.
Here we go…
For any asset, including Bitcoin, to be in a bubble two factors must occur simultaneously.
1. The asset must be widely held, meaning that very many people own/hold it, which Bitcoin is not. In fact, the entire crypto space is extremely thinly held. (So right there goes the “bubble” theory).
2. The price must be so high, that the average person making an average salary is unable to, or has to struggle to acquire it. Being that Bitcoin can be bought in fractions, it does not meet that criteria either.
It could be argued that both the stock market and real estate markets can also be bought in fractions and that is true however, both asset classes ARE widely held, and therefore both “asset bubble” criteria are met.
GM
Bitcorn is a scam
Bitcoin is a con at this point. A pyramid scheme with ZERO underling value. It was created by the same folks who created EFS a distributed file system used by the big financial firms. It was supposed to be a compliment to TOR and twitter to get funds to agents / NGO's in the field. Perhaps you can ride the escalator and hop off with a profit but most will lose everything in the end.