Re: Bitcoin bubble by Goldman Sachs

Quote from: Kenapsi on March 01, 2018, 11:18:37 AM

Quote from: Regana on February 08, 2018, 02:52:18 PM

I know we wouldn't reach to Goldman Sachs for advise in cryptocurrencies, however we can't deny Bitcoin is on a bubble. We are inflating the bubble with huge sums of money while Bitcoin doesn't really change and improve it's technology at the same rate.

Goldman Sachs advisor says 'Today's Cryptocurrencies Will Go to Zero, But Stronger Digital Currencies May Still Emerge' and this time they can be right. And pretty much is okay to relate today's situation with dotcom bubble back in the 2000's.

I can see two ends for this, whether development becomes a priority and actual value and usefulness are created for the big cryptocurrencies we handle right now, or the bubble explodes. If it explodes then a new type of cryptocurrencies will emerge, although I don't believe these would follow Bitcoin principles.

Article: http://fortune.com/2018/02/07/bitcoin-price-usd-prediction-goldman-sachs-cryptocurrency/

I don't understand the part "technology isn't improving".

Major development for bitcoin has halted and only minor improvements are being made so as to let other people know that they're still working on it... somehow. Frankly, I can see bitcoin being used on the same thing over and over again and no new fancy features should be added since other crypto can do just that. Mainly, bitcoin is used for exchange of value and as a form of payment, and it's just doing pretty well on that certain task. What needs to be improved though is scalability and other things that affect transaction confirmation times and the fees. Other than that, no fancy features is necessary.

Bitcoin doesn't need to change completely in order to be valuable. Fiat has been the same piece of paper and nickel for the past centuries yet people still value it even though it hasn't improved one bit (apart from digital transactions, of course). The reasoning of Goldman Sachs as to why bitcoin and other cryptos will flop isn't really a good one and they're just trying to divert all the attention coming to bitcoin into other assets/investments.