The "bitcoin bubble"

[bpd]

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.

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[knight22]

Can you summerize a bit for us?

[bullioner]

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.

[db]

Impressive. Written in 2006. "some new financial technology which permanently precludes debasement" Indeed.

[AndrewK]

I wonder if this is the same Jon Law from capital stool?

[jubalix]

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

[benjamindees]

I wonder if this is the same Jon Law from capital stool?

I think that might be a pseudonym.

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.

[bpd]

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.