Noble Prize Winner who predicted Housing Bubble: Bitcoin is a bubble for sure!

[bitcoinlitcoinbtcltc]

Bitcoin is going down HARD!

People are really crazy! Paying over $1,000 for a DIGITAL CODE!
Don't let them fool you! Bitcoin will crash back to $25, where it belongs!

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Bitcoin is a bubble - Nobel Laureate in Economics



Robert Shiller, 2013 Nobel Prize winner in Economics, and an expert in the nature of market excesses, has come down on bitcoin and said that the tremendous jump of the virtual currency was a 100 percent bonified “bubble”.

"It is a bubble, there is no question about it.... It's just an amazing example of a bubble," the Business Insider quotes Shiller, talking to the World Economic Forum in Davos, Switzerland.

“I’m amazed by how people are so excited about it and I tell my students ‘no, it's not such a great idea’," the economist said.

Last year bitcoin grew tremendously in popularity: even universities in the UK and Cyprus began to accept the currency as a means of paying for tuition.

Most recently, two Las Vegas casinos started to accept bitcoin for goods and services.

Over 2013 bitcoin skyrocketed 6,200 percent, and is now being traded at about $950 per unit, according to data from Mt Gox, the world’s second largest bitcoin exchange.

The jump, though, is logical, as it simply follows human nature which is always interested in high-volatile markets, Shiller said. He agreed the online currency was an “inspiration” because of fast-developing computer science, adding the caveat that he didn’t quite see it that way. The Nobel Laureate pronounced that bitcoin was a return to the dark ages because at present there is very little clarity surrounding the crypto currency.

Robert Shiller, Yale Professor of Economics, and two other professors from the University of Chicago - Eugene Fama and Lars Peter Hansen - won the Nobel Prize in 2013 for their research into market prices and asset bubbles.

Source: http://rt.com/business/bitcoin-shiller-bubble-davos-127/

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[Dalmar]

Bitcoin is currently in the ''return to normal/euphoria's last gasp'' phase.

[MatTheCat]

There is a spate of negative Bitcoin stories appearing RT all of a sudden.

Up until recently, RT had a big hard on for Bitcoin.

Guess Putin has changed his mind now that Bitcoin has started infiltrating Russia's financial system.

Wonder how RT's resident circus freak, Max Keiser is going to spin his bullshit on Bitcoin now.

[YoYa]

Protip: Wait until the dip in to capitulation before you start the bear call. Look up Nagle's post history if you want some lessons.

[Dalmar]

$3 Its a bubble!
$32 Its a bubble!
$100 Its a bubble!
$266 Its a bubble!
$1200 Its a bubble!

I see a pattern.

You always had the opportunity to buy much cheaper coins after each bubble. This time will be no different.

[MatTheCat]

$3 Its a bubble!
$32 Its a bubble!
$100 Its a bubble!
$266 Its a bubble!
$1200 Its a bubble!

I see a pattern.

Same goes with any bubble in financial history, but popped one day, they all have.

[ampere9765]

$3 Its a bubble!
$32 Its a bubble!
$100 Its a bubble!
$266 Its a bubble!
$1200 Its a bubble!

I see a pattern.

Same goes with any bubble in financial history, but popped one day, they all have.

yes, i think those around here who cling to this (the longterm log trendline) are setting themselves up for a world of hurt eventually if they haven't been taking profit off the table on the way up.

[chessnut]

what a slimy looking creep.

but this is great,

-the exchanges are ready
-the mainstream are behind
-the sentiment is bearish

full steam ahead!!

[TERA]

Crap I think its time to diversify and hedge into tulips.

[BurtW]

Thank you so much for this second wonderful post.  Your other post here:

https://bitcointalk.org/index.php?topic=433530.msg4758213#msg4758213

convinced me to sell all of my BTC.  This new post has convinced me to go short BTC big time.  I have taken out a huge BTC loan at a very high BTC interest rate and then sold them all.

I sure hope you are right about all this.  You are sure about this, right?  This is a very sure thing, right?

Keep up the good work.  You are obviously an expert on all things Bitcoin so I know I can trust you with all of my life savings.

Thanks again!

[Hyena]

I think that this Nobel prize should be stripped away from that old fuck for making so ignorant statements.

[fonzie]

I think that this Nobel prize should be stripped away from that old fuck for making so ignorant statements.

I agree, everyone who isn´t 100% pro Bitcoin is an idiot and should be killed!

[ElectricMucus]

Robert Shiller, Yale Professor of Economics, and two other professors from the University of Chicago - Eugene Fama and Lars Peter Hansen - won the Nobel Prize in 2013 for their research into market prices and asset bubbles.

Beargasmic!

[ablewasiereisawelba]

I have no opinions about the future success of bitcoin. That said, I would like for anyone who believes it is a bubble to tell me how any store of value without intrinsic value could not be a bubble.

Is he willing to call gold a bubble? I mean that seriously, and he might think it is also a bubble.

[BurtW]

I think that this Nobel prize should be stripped away from that old fuck for making so ignorant statements.

I agree, everyone who isn´t 100% pro Bitcoin is an idiot and should be killed!

I am only 99% pro Bitcoin.  Do I have to die?

[fonzie]

I think that this Nobel prize should be stripped away from that old fuck for making so ignorant statements.

I agree, everyone who isn´t 100% pro Bitcoin is an idiot and should be killed!

I am only 99% pro Bitcoin.  Do I have to die?

I´m sorry to say but we don´t want persons like you in our community.
If we keep you, we gain nothing, but if we kill you, we lose nothing.

[Hyena]

I´m sorry to say but we don´t want persons like you in our community.
If we keep you, we gain nothing, but if we kill you, we lose nothing.

I disagree.

We need bears because their suffering gives so much joy especially these smartass professors to be proven wrong so hard in the future. I can almost hear them mumbling "this is preposterous" when trying to fit bitcoin into their financial box of understanding.

[eiskalt]

I´m sorry to say but we don´t want persons like you in our community.
If we keep you, we gain nothing, but if we kill you, we lose nothing.

Hew, projecting much?

@BurtW: You would need tremendous amounts of leverage for the remaining 1% to offset your losses on the 99%.

Very much not recommended.

[seldon]

There is no nobel price for economics.. there is only a price sponsored by a huge bank in sweden named after nobel

[ElectricMucus]

There is no nobel price for economics.. there is only a price sponsored by a huge bank in sweden named after nobel

orly?
http://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences