Quote from: bubble1 on November 03, 2017, 09:40:53 AM

Many online and mainstream media press comments refer to Cryptocurrencies as bubbles.

The most often quoted are the Dutch Tulip Mania and the Dot Com bubbles.

Tulip bulbs serve only 1 purpose - growing flowers. They have no use as money - ie store of wealth, medium of exchange etc. Tulip Mania was a true bubble driven by speculation. It was a Ponzi scheme, which collapsed. A few people made huge sums, but many people lost all their savings.

The Dot Com bubble was a different. Up to 90% of the Dot Com startups were cash burners, having no business model, and no value. Was it a Ponzi scheme? Probably not. Again, a few people made huge sums, but many people lost all their savings. But, a few Dot Coms had genuine prospects, and some of these have grown into tremeandously valuable FAANG companies.

Cryptocurrencies, and especially ICOs are very like Dot Com. 90% will fail. A few will grow into big players by providing innovative and valuable solutions.

Bitcoin is definitely not a bubble, because it is like money and is a store of wealth, medium of exchange etc. Also, it is already providing innovative and valuable solutions, like hedge against hyperinflation, and independence of Central Bank control.

Is BC overpriced? Maybe.

Is BC underpriced? Maybe.

Is BC's price rise currently speculation driven? Probably.

Will the price of BC decline, short term? Probably

Will its price drip to zero (like tulips)? Definitely not

Will it be here in 20 years? Definitely.

Will it still be valuable in 20 years? Absolutely

They really do not grasp the understanding of what Bitcoin is and the blockchain. There basing a tulip just because price is going up instead of trying to learn what is making it seem so valuable. They are biased because they feel like the are missing out, its human to feel this way. The people that think this way. Also you seem to be answering your own questions, but the part where you say BTC is driven by price speculation, you must not be keeping up with current events. I advise you too google CME Group bitcoin futures so you can learn what that is.