Bitcoin has no intrinsic value and is not backed by ANYTHING. Imagination makes it "real." But, yeah, go at it. People have made money trading it, and good for them. Good for you. But that doesn't make it any less of a musical chair timebomb.
If its a bubble,its only part of an everything bubble that may level off before continuing the path that anything of value does. People need to first consider that their rectangle of dirt with a 600 thousand dollar house on it is magically worth 2 million dollars. They then need to realise that that is the case due to time honoured laws of supply and demand. The calibre of people spouting the greater fool theory the last 12 months is beyond laughable. People bask in the glory of their accomplishments,accomplishments provided by the very same factors driving Bitcoin and scoff at those invested. If I had said that Real Estate was in a bubble or a manipulation and waited for a correction,I would never have been invested.I knew it was a no brainer,mainly due to my investment horizon. Talking to nocoiners who try to detract is like to talking to someone who never bought a house 20 years ago when you did,has rented their entire life and tracks you down every time their is a 5% correction to tell you 'things dont look good!i'm glad im not a home owner!' Its annoying.
But is it a ponzi? Forget price, forget criminals and forget what pékelo says , he’s been barking for the last 10 year's reminds me of s0007
What value does it have? It's a method of moving money around. Will it replace fiat, I doubt it as it needs fiat to be of any value. Is it a hedge against inflation? Ask the guys who bought it at the top. Is it something you can trade? You bet, just have a method of bailing when the bubble bursts.