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Title: The "bitcoin bubble" Post by: bpd on February 28, 2013, 11:10:00 PM I'm just going to leave this here, okay?
http://www.safehaven.com/article/5205/why-the-global-financial-system-is-about-to-collapse Sorry, no TL;DR version -- if you want to really understand why there can't be such a thing as a "bitcoin bubble," you're just going to have to read it. Title: Re: The "bitcoin bubble" Post by: knight22 on February 28, 2013, 11:41:51 PM Can you summerize a bit for us?
Title: Re: The "bitcoin bubble" Post by: bullioner on February 28, 2013, 11:52:44 PM Can you summerize a bit for us? Money is special compared to assets such as non-monetized commodities, or shares of companies, for example. If something gets monetized, it can happen quickly, as once it starts everyone has an incentive to try and move earlier than others. Also: scarcity matters. Title: Re: The "bitcoin bubble" Post by: db on March 01, 2013, 12:18:54 PM Impressive. Written in 2006. "some new financial technology which permanently precludes debasement" Indeed.
Title: Re: The "bitcoin bubble" Post by: AndrewK on March 01, 2013, 12:24:20 PM I wonder if this is the same Jon Law from capital stool?
Title: Re: The "bitcoin bubble" Post by: jubalix on March 02, 2013, 05:58:43 AM I'm just going to leave this here, okay? http://www.safehaven.com/article/5205/why-the-global-financial-system-is-about-to-collapse Sorry, no TL;DR version -- if you want to really understand why there can't be such a thing as a "bitcoin bubble," you're just going to have to read it. so about = 7 years....since 2006... nah it doesn't collapse short of meteorite strike Title: Re: The "bitcoin bubble" Post by: benjamindees on March 03, 2013, 03:37:56 AM I wonder if this is the same Jon Law from capital stool? I think that might be a pseudonym (http://en.wikipedia.org/wiki/John_Law_(economist)). Quote John Law was a Scottish economist who believed that money was only a means of exchange that did not constitute wealth in itself and that national wealth depended on trade. Title: Re: The "bitcoin bubble" Post by: bpd on March 04, 2013, 07:24:32 AM It was actually written by blogger Mencius Moldbug (another pseudonym). See http://unqualified-reservations.blogspot.com/
The same blogger who recently wrote the "How Bitcoin Fails" piece. |