[danielh96]

Not sure what world you live in, but the vast majority of new people interested in Bitcoin are interested because they want to make money, not because they believe in the technology. They want to buy in, see it go up 500%, and cash out.

They're not motivated by the actions of the central banks, they likely have no idea what the central banks do. They see "Bitcoin increases 100% in a day!" on the news or on a website and want in on that sweet money making. Coinbase makes it so easy, they have to do absolutely minimal research, don't even have to wait for transactions to be confirmed.

You think its lack of faith in the current banking system and belief in the new tech that's driving the price up as high as it is now, when it's mostly greed and ease of access. Taking that into account it's naive to not believe there is a Bitcoin bubble.

[etr-strike]

Who are you to speak for all the people buying bitcoin? Of the people I know buying, many do so because they believe in the tech and disagree with modern monetary policy.

[kbart]

That might have been true few years back. Now people buy Bitcoin because they see headlines on Fox News and whatnot about "Bitcoin reaches new all-time high of $ XXXXX" nearly daily. I know it's a bubble when my totally non-tech relatives (the same people plagued by Ask bars) keep asking me where is the best place to buy Bitcoins or to find/recover their lost wallet.

[etr-strike]

Some people are speculating. Some people are believers. No one knows if it's a bubble. And you don't know the reason why people are choosing to buy.

[sumedh]

> Of the people I know buying, many do so because they believe in the tech

I guess the people you know are not the average joe.

[etr-strike]

Glad I found the person who is able to speak for everyone who is buying.

[mancerayder]

I own some cryptocurrencies, but to be fair most people, in the world -- I think it's very fair to assume -- don't know what these are or how they work.

Do you really think the majority of purchases (as in tranfers from fiats to BTC or another) are done so with intent to pursue political and economic advancement? I mean, is it theoretically possible? Perhaps -- but do you truly believe that the majority even understand the technology at a cursory level?

[sumedh]

Did I say I speak for everyone who is buying?