Bitcoin Forum

ROBERT SHILLER: Bitcoin Is An Amazing Example Of A Bubble
http://kculshare.com/2014/01/robert-shiller-bitcoin-is-an-amazing-example-of-a-bubble/

Still waiting patiently for all these broken clocks to be right.  There have been plenty of them.  It must be pretty far from the right time of day...

Same thing that was happening all last year and it will keep happening until next year.

I see about 3 "bubble bursts" in this chart:

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=0&cv=0&ps=0&l=0&p=0&


Do all these economists and so called experts think Bitcoin will drop to zero at some point?

I'm glad the pompous richie-rich types at Davos think its a bubble. Perfect. We'll buy more time to infiltrate their entire economy that way. Funny how the forces of power and greed work in Bitcoin's favor, don't you think? Greed over saving fees/future valuations encourage adoption, and technical complexity prevents entitled douchebags from understanding it right away.

Perfect.

Schiller believes that bubbles can be predicted with certainty. I think Bitcoin will prove him wrong.

I do think theres some validity in saying bitcoin is in a bubble, the current price seems to have more to do with speculation from people wanting to get rich than adoption.

With that said,  I do believe the bitcoin economy will continue to grow and years down the road to the point where the value is based more on adoption than just speculation and we will see people saying "man I wish I bought in back when it was around $800-900" .

Very human reaction from Shiller. At means mainly "I'm not in, yet."

He forgot to realize that every money is a bubble.

I don't see why bubbles are necessarily bad. I think a few bubbles and volatility is a naturally occurring event and is to be expected with such a new idea, but it'll probably settle down eventually.

True academic thinkers posses imagination.
Maths, science and economics require as much imagination to progress as art, literature and music.

Bitcoin and the death of fiat is a test to all those economists whom the world has declared are masters of their field.

Many are failing this test of both their imagination and their understanding of the fundamentals of their discipline.

 ... yet another economist has jumped the shark on bitcoin. And not the first 'nobel' laureate either from that dismal field.

It's going to be great trawling out all these stupid-ass comments from the establishment in a few years time to rub their noses in their own BullShit.

Edit: also means more time for the little people to get in to bitcoin and protect themselves from the ravages of fiat that these would-be-master have wrought on their life savings. The arrogant will be the last to enjoy the benefits, and so they should.