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Author Topic: 2013-05-07 AdvancedTrading:Bitcoin Joins the Academy of Financial Market Bubbles  (Read 507 times)
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May 07, 2013, 11:06:52 PM
Last edit: May 07, 2013, 11:19:57 PM by n8rwJeTt8TrrLKPa55eU

As shallow as a shallow lake after a long drought.

Clearly, however, this is fundamentally a story of a bubble and speculation that there is no real efficacy yet to this currency. It is all posited on a future state where banks no longer work, governments have shut themselves down because of too much debt, and individuals are finally free to do business directly with one another. The price rise made no more sense than the price drop, which was precipitous when it happened. The most well-known of the investors who were hurt in the price collapse were the savvy, social network entrepreneurs — the Winklevoss twins.
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