The Bitcoin “Bubble”
People ask “When is the Bitcoin bubble going to pop?” my answer would be “When we no longer use computers”.
If bitcoin is a bubble, it’s one of the toughest bubbles I’ve seen. Attacks have already been attempted on the new found crypto currency by naysayers and scared investors. Many people don’t like the idea of a new currency becoming a part of the worlds economy, it scares them, especially with it’s frightening potential.
It has been claimed many times that Bitcoins are a bubble, with no physical backing or future, but it continually is becoming more evident that the complete contrary is true.
Many large investors aren’t just investing into Bitcoins themselves, but ASIC devices specifically designed to mine Bitcoins. So it cannot be said that it has no physical backing.
People are invested in bitcoins in many ways specific to bitcoins:
Online store bitcoin integration
In Store Bitcoin accepting hardware
There are many other ways that investments are made into bitcoin from apps, softwares, and hosting services to USB backup wallets.
So occasionally I give a little chuckle as I read, see, and hear some of the ignorant comments being made about Bitcoin, pop-able state, It just gives me and other wise and prudent investors more time to be ahead.
If any reader here still thinks that bitcoins are a bubble, and in some definitions I guess it could be, think of the bubble as a force field that only dies if the desire for greater anonymity or low transaction fees is taken away. I suppose if all the technology in the world was destroyed that would work as well.
So unless someone in your neighborhood is planning on experimenting with Powerful EMP testing, I’d get yourself a bitcoin wallet and look into investing either with mining or in bitcoins themselves, or don’t believe me so I can have a more leisurely time investing in more bitcoins.