Yes, I pointed this out and why we will see some interesting times ahead over this issue since really no one owes anyone anything since the USD value is more or less 0 now. (yes yes yes).
As well, I pointed this out and is exactly why it's a bubble. You are only buying it in hopes others will buy into the idea of nothing and the value will go up?
Slow down here and think if MA were to think up bitcoins? What if it was ND's idea? Some would call it a big scam.
Last you say that bitcoins is backed by what? An industry that could go belling up overnight whereas gold will always have some sort of value because it is not a bit. Now please, I'm not backing up Gold here, just using it as a true item example here.
What is crazy about all this is that MA will make money off their version. All they really need to do is buy some of their own, then wait a bit and sale out. Then if the market crashes they have no issues since they already made their money becomes others bought into nothing.
And if you want to fight this more, let me post your quote once again:
You coud actually go as far to quote more things than what you quoted, it sounds out of context to me.
Whatever people buy in life, they buy it with hope it increases, that was my point itself.
Btc / gold / real estate, you want to purchase for different reason, but you sure have in mind the hope for keeping the value or increase, in order to then invest elsewhere, or get more of "something" whatever you want to get.
You talk about btc going belly overnight, for this to happen, we would need to either shut down internet / or shut down electricity, and at this point there would be way more problems than btc falling was the point.
You do not seem to be educated about btc, or blockchain itself it seems, bitcoin is open source.
Bitcoin is global, and there is no single point of failure. There is no ND clown in it just human nature.
Sure we can argue that at this point if you own some physical gold it's better, but is that an argument to say bitcoin is not as good as gold ? I disagree with it.
As for the bubbles : As I pointed out, if you actually read carefully, this kind of volatility is expected with a young market itself that is global, and reachable to anyone as opposed to gold.
There was a bubble at 10 cent
There was a bubble at 1$
There was a bubble at 10$
There was a bubble at 100$
There was a bubble at 1000$
There was a bubble at 10000$
There will be a bubble at 100k$
There will be a bubble at 500k$
Because guess what, there could even be bubble at 1 million dollar, because it's highly possible a crypto currencies such as bitcoin eventually reach that price too.
A bubble in a 450 billion market (250 billion for btc) isn't a bubble.
Just a natural cycle for something that barely made babies step yet.
Check what a bubble is, look at dotcom for instance. Compare the numbers, and check out how much capitalisation it had before that "bubble bursted" and then check out the survivors afterwards.
It's not even comparable tho, as dotcom was not as accessible as crypto.
Also bitcoin is something I use (and most people) to invest in start ups, which create very real products also.
And guess, what, backed by tokens, that also have usage. Usage tokens as they are called.
In the end, bitcoin is a good thing, so does gold, but for me it is much better than gold. Although I like to diversify, it is clear that I know where I prefer to be on technologies that can actually change the world (which isn't gold) and that is so young that obviously gains can be awesome (and they did, and will because it's a drop in the sea money wise, the whole markets of crypto).
Tokens / coins are not meant to just be an easy way to store value or transfer anymore.
