First of all, let's get this out of the way. I'm firmly in the "crypto is a Ponzi scheme / huge bubble" camp and I'm not really interested in debating in this thread why it's not.
I'm wondering what would cause the crypto bubble to pop? Let's assume that the only reason Bitcoin's value is going up is because of a feedback loop in which people see its value going up and that causes people to buy it which increases the price. Does this bubble only pop when the currency runs out of suckers/speculators? Is that necessarily how every bubble pops? Is it possible that Bitcoin always retains some meaningful value because of a core set of diehards who believe in the currency for ideological reasons? Any guesses as to how much money is sucked into the crypto hole before the system it implodes? Would the implosion be enough to significantly impact the real economy or markets?
Just some questions I've been pondering. Curious as to others' thoughts.
Submitted November 20, 2017 at 11:35AM by duchessHS http://ift.tt/2B4N4AG
