Re: Why economists say Bitcoin a bubble

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

A bubble is a bubble when something is overbought, it is that simple. Is bitcoin overbought right now?
With a supply of 21 million (not considering lost BTCs), with all the brightest minds working on it, with the strongest network, and with a marketcap that is still very small compared to what a global 24/7 market like bitcoin is could deliver.... then no, I don't think we are anywhere near a bubble. Corrections will come and go, that doesn't mean we were in a bubble.

Bitcoin has a fixed amount in existence and i don't think that once it is all mined and done, there will be any other way where new bitcoins will come into existence. These economists actually don't know what they are talking about at all.

Most economists are really poorly versed in the crypto currency. Their thinking is limited to the Fiat and the laws of the economy, which are built on the fiat. Therefore their mind is not ready to accept a new era in the world of finance

Yeah, the economics law is not applicable to bitcoin and crypto's. The price is based on different factors like speculation, demands and others. Those economist doesn't seem to understand all of this and how the market moves. They haven't seen anything like this before. This is a new technology, new revolution. We may see that the price dip today, but in less than 24 hours the prices jumped $1000, how can they explain that? What law is applicable then?

The economics of the traditional world and the crypto world are the same. Most Economists just simply don't understand either of these, because they are only "book smart" and don't understand how the books were created, thus they can't draw conclusions on problems that vary even in the slightest from what they read during their "training".