RE: Have no fear, naysayers called Amazon "a bubble" for its entire history as well!
I'm a late entrant into Bitcoin primarily because awaerness about it was very low in our country, but ever since I started reading about it and understood what it stood for - freedom from the traditional bonds of currency and banking, it struck a chord immediately, the rising value of bitcoin over the years has only shown that it's m oving to that phase where the naysayers are slowly moving into believers.
To be honest, bitcoin is far less a bubble than most fiat currencies that can be printed by any govt by the truckloads - the limited supply itself shows gains some level of respect. Secondly you simply can't even paper currency anymore because paper currency after all is only as worthy as the government backs their promise of accepting it as legal tender - look at what happened in India last year - overnight t he country's currency notes were declared invalid on the govt whim and people were left suffering for months after beign left with currency for months. With Bitcoin no govt can pull such an underhand trick.
Bitcoin serves fundamental purposes that fiat currency can't serve - removing need for trust and that makes it more than just a bubble. The ones who call it so, will be doing that while still filling their pockets with bitcoins on the side like Jamie Dimon
What ist the fundamental purposes for Bitcoin and other crypthos?
Many people speak about a bubble. Maybe it is a bubble. But why?
For many people it is still a big step to take, because bitcoin can change many structures which people are used to.
It's hard to explain right, I mean the two forks this late in the year could be driving up the price. Who knows, but my money is on BTC, ETH and DASH to be the survivors when the crypto market adjusts itself in the next several years. Platform wise, ETH is more stable, but BTC was the first.