When the WSJ editors allow this to be published, they may as well just say “we didn’t bother to do any research, but the sentiment seems bad so let’s get something written up from a skeptic’s perspective, so we can stay relevant”. Writing for the WSJ, Paul Vigna writes that Bitcoin is like ‘private money’ […]Read More When the Wall Street Journal gets it wrong, it’s time to start behaving like a contrarian
The internet has made a certain argument against cryptocurrencies loud and clear: it can never be used as a reliable medium of exchange if its price will swing wildly one day to the next. Volatility is only for the traders who can manipulate the market with pump and dump schemes, making cryptocurrencies nothing more than […]Read More A thought experiment: Bitcoin volatility and jump rope
Every now and then, when Gäaldnéma got near an oceanic vent, she’d see hints of the Gaia’s power as the ground would crack and release high-pressure gas and lava into the ocean floor water. Sometimes, these cracks of energy resulted in a sparkling display of small bursts of lights, lethally dangerous and yet beautiful at […]Read More Her First Starry Sight
The Rise and Fall of Bitcoin | WIRED https://www.wired.com/2011/11/mf_bitcoin/Read More What a piece from 2011. The “Fall” never happened… read on…
Mania is irrational. You can’t deny that whatever is happening before your eyes is indeed happening but shouldn’t be based on all known rules and limits. When ever a rule is being defiantly broken and leading to success and riches (without anything tangible of value being produced), you question your sanity and everything you come […]Read More Why Bitcoin Mania is completely justified and is nothing like tulip mania or dot-com mania or the housing market mania.
As I mentioned in another post, BTC is not subject to the greater fool theory in the long run. This might seem stupid of me to say given the recent runup within the last 12 hours as of writing this post: it broke through 10,000 and then 11,000 a few hours later. This is parabolic, […]Read More The Next Bottom to get in on Bitcoin is the $8000 level
In short, the greater fool theory regarding investments refers to the the irrational buying of a product at foolishly expensive prices hoping that there will be another fool, a greater fool, looking to pay you more than you did so that that fool can find some greater fool to pay him more than what he […]Read More Why Bitcoin is NOT bound by the greater fool theory