Is the Bitcoin bubble about to burst now that it is approaching the 21 million mining limit?
This question originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answered December 12th, 2017
Bitcoin is not a bubble; it is a virus.Bitcoin is much better described as a virus than a bubble. It is a virus on the global capital metastructure. It will continue to consume capital in every form, and will not stop eating until it is ubiquitous.
The idea that it is a bubble that will burst presupposes that it will soon run out of fuel to continue growing. The amount of fuel available in the world capital markets is immense. The bitcoin growth curve mirrors the standard chart of virus expansion. Expect exponential growth for at least the next 3 years. This thing is hungry and it is loose in the world’s largest perti dish. The host has no natural immunity as this virus is of a totally unknown form.
Answered September 19th, 2017
Whether the Bitcoin bubble bursts or not, it will have nothing to do with the 21,000,000 limit. This is because it gets progressively harder to mine for Bitcoin and as a result, the remaining 7,000,000 Bitcoin will take until around 2140 to mine. And for the record, when I say 2140, I am referring to the year. Bitcoin won’t be all mined out by 9:40pm!
Answered Sep 21
Bitcoin will not burst, explode or disappear from the surface of the planet earth. In the contrary Bitcoin will be more valuable because of the constant increase of the difficulty to resolve the mathematics puzzle. Also, we need not forget the halving every 4 years, this will result in less bitcoin every 10 minutes! My vision is the cryptocurrency will only go up with many dips on the way.CheSatochi – My journey into the crypto world
Answered Sep 19
People have been talking about the Bitcoin bubble since it started. Not seeing BTC bursting in the near and distant future. But it’s only my opinion. Do your own research, don’t solely listen to people on Quora.
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