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

[BurtW]

And for me the beauty of the bitcoin was to solve in elegant way the "consensus problem" in a distributed system ... that was a stroke of genius

And what happens to be if the next "stroke of genius" happens to be Proof-of-useful-work?
The internet is well and alive, Usenet fairly deserted and the Gopher protocol replaced some wierd little startup called Google. Nowadays the only part of the internet that most people know is the web. Well, "Web 2.0" as they call it.
"I tell ye, back in the days, it was madness. We were just wasting leccy on solving stupid crypto puzzles. And now? The CureForCancerCoin has already found treatments for 37 different variaties of cancer. Thanks to the SearchForFTLCoin the communication to mars takes less than a second. We used to have higher latency between Australia and the States often enough back then. Ah ye, CryptoCurrencies 1.0, what a waste. But we used to love em anyway."

I predict, based on my own personal feeling and opinion, that the alt coins you mentioned will totally fail.  You can take that to the bank.

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[rogerwilco]

My God, you're right! I've run my own independent analysis, and have obtained eerily similar results:



Oh wait, never mind, I seem to have gathered outdated information.

[glendall]

The  Nobel Laureate in Economics is a big joke.

You must, absolutely must buy into the bullshit fabrication known as contemporary monetary policy to get award this award.  It is not awarded to anyone who sees things at all differently.  (At least as far as I know, can't say I studied it much, pls correct me if I'm wrong).

As bitcoin is in many ways different than the prevailing popular believes in economics, of course a Nobel Laurete is likely to be opposed to it. This doesn't seem very surprising to me.  Besides, many of these baby boomers probably just mastered the science of sending an email, I don't think they are even capable of understanding how bitcoin even works, it's probably as far-fetched as traveling faster than light to them.

[Bitbuy]

Aren't these the same guys who caused the financial crash in the first place??
Must be hard for them not having control..

[porcupine87]

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

I think people posted this chart in 2010 the first time, when Bitcoin crashed from 50Cent to 20Cent. When did Bitcoin reach the phase "new paradigma"?

[Asrael999]

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

1. You are correct, there has never been a "nobel price" for economics, only a price "in memory of Alfred Nobel". The reason is that Nobel himself didn't think the field of economics was WORTHY of any price. Seeing the current state of economic theory it's hard not to agree with him.

2. If it WAS a Nobel price it still wouldn't mean anything. It just someone somewhere decided to give you some money. See some of the recent "peace price" awards for examples (Obama and the EU!? Really?). People put way too much emphasis on being "accepted" by authority.

3. Getting the price is no proof you're not a blithering idiot, see Paul Krugman.

4. Even if Shiller's price was legitimate, it doesn't mean he'll be correct about everything he'll ever says. Smart people are frequently wrong, as proven by the fact that smart people frequently DISAGREE about almost everything. They can't all be right.

It's prize, damn it. You americans totally forgot engrish by now.

I was always told there was a price for everything

[billyjoeallen]

So how far does the price have to drop before this is officially a bubble pop and not a normal market correction? The previous ATH of $260? more?

[molecular]

If mainstream media (including RT) wasn't hating on bitcoin I would be suspicious.

+1

IF Obama suggested everyone to start investing into bitcoin I'd be definitely reaching for my tinfoil hat paper wallet.

ftfm

[molecular]

muahaha, awesome! Thanks for taking the time to do this.

* molecular makes mental note to search for "bubble stages chart answer pic bookmark"