One of the biggest Wall Street Bitcoin bulls just turned bearish

[lyth0s]

Seems like Brian Kelly is making bull comments again:

Bitcoin futures market just changed the game

http://www.cnbc.com/id/102456187

Digital currencies are quickly becoming a new financial asset class for investors, traders and businesses. As early adopters profitably hand off to the next wave of institutional investors, the ecosystem will likely grow at an exponential pace. High-profile investors are a sure sign of an economy that is not just surviving; it's a sign that it is thriving. It is becoming increasingly likely that the 2014 reports of bitcoin's death have been greatly exaggerated.

The more I hear about this guy the more I want to know if he is really in the investing business or is he in the media business? OR does he use the media to effect people's emotions to SUPPORT his investment business?  

Stop listening to media hype and create your own informed opinions. It'll serve you well.

[tabnloz]

He's a media guy from Fast Money but he has also been that programs crypto bull. Has written a book on crypto, founded his own coin (Nautilus) and been a mouthpiece for bitcoin amongst the Wall St types. I haven't ever found him over the top, pound the desk style bullish, just positive on the possibilities. Probably more similar to Matt Miller than Barry Silbert.

[dinofelis]

Any form of money specially the USD are based on the greatest fool theory. That's how money works.

No.  Money runs on the SAME fool theory.  You accept it, because you think someone else will accept it *for about the same value*.
A same fool theory is sustainable, and if it kicks in, you have money.  The reason why it is sustainable is that you can appear AGAIN further in the loop.  And again, and again.

A Ponzi, or a bubble, is based upon the GREATER fool theory.  You will eventually run out of greater fools, so this is not sustainable.

However, in order for an asset to become money, and to adopt a same fool theory, it has to go through some stages of "greater fool" when it is acquiring value.

So no (free) monetary asset can avoid having a bublish behavior during its initial phase.

The difference between a bubble, and emerging money, is that the asset collapses after the bubble, and flattens out on the top if it becomes money.