Are cryptocurrencies a bubble?

[Martin]

In my opinion they are a bubble as they are not founded on anything with intrinsic value. As a student studying economics I would be extremely cautious with investing in crypto. What is your take?

[FlyEaglesFly]

I agree with that fact that cryptocurrencies kind of came out of thin air.

However, I think because so many people have invested so much money in them I think that it is relatively safe to invest in the major cryptocurrencies, at least for now.

[Amans1234]

Yes, they can be called as bubbles as their value can go up and down dynamically. But still, it is good to invest in some of the cryptocurrencies available in the market. You just have to make sure to invest according to your budget.

[ghost]

I think its worth a gamble if you have a couple of dollars or whatever lying around. But do it expecting to lose it.

[iris2992]

I think, if you will look at it in general, it is not a bubble. Yes, the value of cryptos are going down or deflating and scaring potential investors and making newbies to sell. But as time goes by, you will see that new companies are accepting cryptos as form of payment for their online products such as Microsoft, Overstock, Shopify to name a few. I think more and more people (those who are not using cryptos as form of investment) find it more convenient to use since it has smaller fees and is hassle-free as compared to banks. I believe that cryptocurrencies are here to stay. But of course, don't go all at once if you're investing.

I'm not an expert though, I just learn as I go.

[neiledles]

Hello, I'm interested on investing on crypto too. Bitcoin became successful. In my opinion, if we want to enter the realm of finances, we are always accompanied by risk. So I think I'll give it a try but will make sure that I only invest what I can afford to lose.

[ElGuapo123]

I would strongly advise in investing into cryptocurrencies since they are so unstable and taxing on your PC. You also need a ridiculously strong PC in order to even earn a cent in terms of a cryptocurrency. The amount of electricity that it consumes is absolutely mind boggling so i wouldn't mess with it too much. Also they are a new thing, they just appeared and they might disappear even faster, who knows.

[Mallymoth]

I agree with Martin (hey, fellow Econ person!) that it's a bubble. I wouldn't say a person absolutely should never invest in Bitcoin, but it definitely shouldn't be a major investment. Diversify! Also, I've seen some folks taking out substantial loans and then dumping all the money into Bitcoin, which I think is just insane and courting disaster.

[Kakashi2020]

It might be partly hype but does anyone still believe that Cryptos through the so called "Block Chain Technology" which is just a program created by this Satoshi fellow from Japan is self producing and self governing. If you use logic then what they are saying is illogical, there's a need for CryptoCurrency that's why we have BTC or Bitcoin and I think the world only needs one. All the others are just hype, and when the bubble burst a lot of people will lose money. Bitcoin will persist in my opinion but all others will die and disappear.

[keibah2]

I think right right now, it can no longer be called bubbles. I agree that there's no central account for it and it just popped up, but it is becoming increasingly accepted.

Even online stores like shopify and Amazon are accepting bitcoins as a means of payment. This currencies are gaining grounds and are still attracting investors even with their erratic state. I believe they here to stay