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It is a psychological thing. People own bitcoin to sell it for cash (hopefully more than what they paid). I would say over 90% of people who buy bitcoin do it for this reason. That is what makes it a bubble. The reason the price increases is because more people are convinced that if they buy it, they will be able to sell it in the future and make a profit. This system works as long as the pool of people that "speculate" in BTC or any altcoin increases. You may say gold is the same thing. And in some ways, it is, but the difference is that gold has a value other than speculation. BTC does not. When you measure the success of buying BTC or any altcoin you measure it by the amount of fiat you had before you bought it and after. People buy gold for the same reason but many also buy gold as jewelry.

Any commodity like apples, oranges, even houses, crypto, stocks, etc... can become bubbles if the majority of people who buy them are doing it because they believe the pool of people who buys them will increase causing the price to increase.

For example, the majority of people who buys apples do not buy them because they believe the price will increase and they will be able to sell their apples to someone else for more money than they paid. Most people buy apples to eat them and then they're gone and the supply decreases. But if all of a sudden over 90% of people who buys apples do not want to eat them but sell them to somebody else for a profit, and the person who just bought them is buying them to do the same thing, then apples would be in a bubble.

Look at it this way. If I gave you 1000 apples and told you that you can never sell them. There would be some intrinsic value because you could eat them. If I gave you 1000 pounds of gold and told you that you can never sell them, fine there is some intrinsic value because you could make jewelry out of them and wear it. If I gave you a stock, say 50% of Berkshire Hathaway, and told you that you can never sell them, fine there is intrinsic value because you get millions of dollars of dividends a year. If I gave you a Lamborgini and told you that you can never sell it, fine you can drive and use it to go places. IF I GAVE YOU 10 BTC AND TOLD YOU THAT YOU CAN NEVER SELL IT. YOU HAVE NOTHING. THERE IS NO INTRINSIC VALUE.
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Money doesn't have intrinsic value.

People value money because they expect others in the future will value their money. That's all there is to it.
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Bitcoin has intrinsic value... What the hell are you smoking and why are you here if you don't understand the importance of a decentralized global immutable network that can't be controlled by anyone. Anyone can use Bitcoin all around the world, it is permissionless. That is the value. The Bitcoin network is the largest and strongest decentralized network on this planet. I'f you can't understand that then go spit your shit somewhere else.
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**I FORGOT TO MENTION A COMMON ARGUMENT THAT I SEE IN THIS CHAT. THIS IS MY RESPONSE.**

I did not mention that in this post, but I will now. The fundamental difference between fiat and crypto is that people who trade stuff to acquire fiat (usually their labor) are doing so for different reasons than when people trade something to acquire crypto.
  

  
It is something that you have to feel. Over 90 percent of people who acquire crypto do it because they believe the price will increase and they will be able to sell for more money than what they bought. This activity is less than 1 percent of people who acquire fiat money. That is the difference.
  

  
NOBODY IS HOLDING FIAT BECAUSE THEY BELIEVE IT WILL BE WORTH MORE IN THE FUTURE. EVERYBODY WHO HOLDS BTC IS HOLDING IT BECAUSE THEY BELIEVE IT WILL INCREASE IN PRICE.
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I stopped reading when you said 'gold has value other than speculation, btc does not' - this is simply not truth:

A) when we talk about real estate bubble , what do we mean by that? So any asset can go on bubble, anything including gold which can also crash down by 80.

B) the concept of intrinsic value is live the theory of relativity.things seems to be solid when they are actually not!  The new era in 2050s may completely outfsshion gold as a jewelery by 95% across the glob while the industries start using a new lab made gold. Look for instance how many homes become derelict. I read an article about homes sold for only 1 euro in Italy!

C) off   course there is other use cases to Bitcoin. This is where you have no clue what you are saying. Recently even a friend of mine who moved country and didn't want to declared go where he goes around 180 000€ in cash out of fear the bank may freeze all of it , moved 70k to Bitcoin. As soon as he moved in 110k of cash , the money was gone for KYC checks.fortunately he had Bitcoin for groceries to survive for a few weeks until the money was back to the account. Imagine if not back? Well ue would have still been owner of 3 BTC paid 26k each.
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"IF I GAVE YOU 10 BTC AND TOLD YOU THAT YOU CAN NEVER SELL IT. YOU HAVE NOTHING. THERE IS NO INTRINSIC VALUE."

Nut up or shut up
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LOL Bitcoin is fiat money failing insurance to me.

No matter what you perceive about bitcoin being a "bubble" then fiat currencies are even a bigger bubble that's popping and failing right now.

Gold although being considered the best store of value sucks shit at being a medium of exchange hence why people created fiat.

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Skip ahead to the future when everything will fully collapse and people who's entire savings accounts that were in banks cannot be withdrawn because everyone is doing it at the same time and banks can't produce enough money.

You need to study bitcoin much further.  You're only scratching the surface.
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The truth is that you *will* be able to sell it for more than you buy it for if you simply hold and wait for a halving or two.

Anyone who ever bought BTC and just waited a few years always always **ALWAYS** could sell for far more than they purchased.  *That is an empirical fact and not speculation.*

Furthermore, it is a deflationary currency by definition.  That is also a fact, empirically that can be verified, and is not speculation.

This is why Bitcoin keeps going up in price over halving cycles even though adoption hasn’t even become close to 1/10th of what it will ultimately become once the global regulatory environment becomes well-defined and it is accepted “everywhere” like Visa.
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One thing to realize is that in some sense everything is a bubble- in the sense that everything does have a beginning a middle and an end. All companies start somewhere, reach a certain valuation, and eventually go to 0. This is a natural phenomenon, everything eventually is replaced by something else over time.

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Any investment if you hold it long enough will go to 0. Its just a question of how long it will take. So everything goes to 0, thats not a revelation. Everything has people in it holding it hoping it will go up. That applies to everything in life. So, if you choose, you can choose to look at everything in life as a bubble. Some bubbles last longer before they burst, some last shorter, but they all are bubbles. Like lets say Netflix goes to 0 over the next 3 years. Was Netflix a bubble? OR lets so Microsoft goes to 0 over the next 3 years, is Microsoft a bubble? Lets say self driving cars kill uber, is uber a bubble? Lets say any number of things happen. Is everything a bubble? Is nothing a bubble? Bubble is just semantics. Everything has booms and busts. Every company will be replaced by a better company if you wait long enough.
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Every asset can be a bubble, stock is bubble, real estate is bubble. Just buy when the bubble bust and wait for next cycle.
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If that’s the case. Everything is a bubble. I don’t spend money to lose it. I want everything I purchase to increase in value so I can sell it for a profit
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