What a difference half a year makes...

[oda.krell]

Ladies and gentlemen, I present to you Mr. Bob Shiller, Nobel prize laureate in economics of 2013.

Here's him, in a statement in January 2014, at a Davos conference:




And here he is again, less than half a year later, in an interview with Forbes (link)




Notice how you do it? Never admit you were wrong, always gradually backpedal. From "It's a bubble, and not that interesting.", to "It's pretty interesting, but still needs lots of work to become usable". Expect "It's going to revolutionize the financial world, and I _TOLD_ you so years ago." anytime soon...

JorgeStolfi, maybe a role model for you as well? ^__^

[Torque]

Yeah, I hate these douche bags that just backpedal instead of just admitting they were wrong.  And boy, how wrong they are going to be.

I'm sure Paul Krugman, Peter Schiff, and Warren Buffett will just stubbornly hold out to the bitter end, never admitting that bitcoin has merit.  Paul especially, since he has written so much as a naysayer.

[oda.krell]

Yeah, I hate these douche bags that just backpedal instead of just admitting they were wrong.  And boy, how wrong they are going to be.

I'm sure Paul Krugman, Peter Schiff, and Warren Buffett will just stubbornly hold out to the bitter end, never admitting that bitcoin has merit.  Paul especially, since he has written so much as a naysayer.

Funny you mention Krugman. I remember reading an article a few weeks ago where he, as well, seemed to backpedal a bit already. I'll do a second part when I stumble across it again.

They will all cave in, eventually

[sgk]

Notice how you do it? Never admit you were wrong, always gradually backpedal.

Warren Buffett is next in line

[oda.krell]

Notice how you do it? Never admit you were wrong, always gradually backpedal.

Warren Buffett is next in line

I kind of doubt it. He's not an academic, so he has really zero obligation to stay "up to date" -- while tenured economists are expected to follow recent developments with at most a 10 year delay

As long as Buffet is able to bring in profits by other means, without jumping onto the crypto bandwaggon, he can afford to do so. He will just be known as the "guy who gets everything, but tech". Which is what his reputation is today already.

[MatTheCat]

Funny you mention Krugman. I remember reading an article a few weeks ago where he, as well, seemed to backpedal a bit already. I'll do a second part when I stumble across it again.

They will all cave in, eventually

All these boot-licking establishment 'rent-a-brain' types will back pedal when they begin to twig that Bitcoin is going to be permitted by the Status Quo. Schiff might drag his heels a bit more because Bitcoin goes totally against his libertarian metal-bug 'real money' ideology.

....Krugmann though! The ultimate contrarian indicator!  If I were in his shoes, with his track record for being proven monstrously wrong again and again and again and again and again, I would be to embarrassed to put my 'intellectual' weight behind or against anything in full public view.

[mmitech]

the average Bitcoiner will tell you " go fuck your self" and will add " what this PHD holder and nobel winner know about economics", in fact Bitcoin price is a bubble but it doesn't mean that it will die, but it will settle and start a normal growth when it hits the real economy... see the bubble was because of the small userbase but when the user base is bigger and market is bigger it will harder to move the price 10X a year.

look at the weekly chart:




life cycle of a bubble

[oda.krell]

Maybe I should make one thing clear:

I'm personally not anti-academic.

I'm just anti-'economy pretending to be an empirical science, when in reality, the field is better described as: ethics, with a thin veneer of empiricism'

[sgbett]

the average Bitcoiner will tell you " go fuck your self" and will add " what this PHD holder and nobel winner know about economics", in fact Bitcoin price is a bubble but it doesn't mean that it will die, but it will settle and start a normal growth when it hits the real economy... see the bubble was because of the small userbase but when the user base is bigger and market is bigger it will harder to move the price 10X a year.

look at the weekly chart:

<btc chart>

life cycle of a bubble

<THAT chart>

One time THAT chart might be right. Your job is figuring out whether its this time.

[cypherdoc]

these are always great threads.

we need to memorialize these mainstream obstructionists and apparatchiks who have actively blocked and impeded the progress of Bitcoin so that years from now maybe they will be held accountable.

[jamesc760]

Funny you mention Krugman. I remember reading an article a few weeks ago where he, as well, seemed to backpedal a bit already. I'll do a second part when I stumble across it again.

They will all cave in, eventually

All these boot-licking establishment 'rent-a-brain' types will back pedal when they begin to twig that Bitcoin is going to be permitted by the Status Quo. Schiff might drag his heels a bit more because Bitcoin goes totally against his libertarian metal-bug 'real money' ideology.

....Krugmann though! The ultimate contrarian indicator!  If I were in his shoes, with his track record for being proven monstrously wrong again and again and again and again and again, I would be to embarrassed to put my 'intellectual' weight behind or against anything in full public view.

As much as I like you, MTC, Krugman, a highly recognized and regarded economist, has a Nobel Prize in Economics; what do you have???

[wachtwoord]

He's trying to backpedal but his statements only get worse ...

He thinks people like price instability because they can make money. No people like to find undervalued assets so you can make money that's called investing and NOT speculating and with your degree I would hope you knew that.

Then he says "we" need sober, banker types. I'm not sure what he means with "we" but I hope he stays the fuck away.

Ignorant person who got where he is by repeating things other people came up with. If some paradigm shift occurs and he needs to have a unique thought for once his lack of ability comes to the surface.

[spazzdla]

Notice how you do it? Never admit you were wrong, always gradually backpedal.

Warren Buffett is next in line

In all fairness, buffett was never really that negative of BTC.

[wachtwoord]

Notice how you do it? Never admit you were wrong, always gradually backpedal.

Warren Buffett is next in line

In all fairness, buffett was never really that negative of BTC.

Yes he was. I think the guy is amazing, but right now he should have just answered: "I don't know" like he usually does with tech.

[Junko]

Funny you mention Krugman. I remember reading an article a few weeks ago where he, as well, seemed to backpedal a bit already. I'll do a second part when I stumble across it again.

They will all cave in, eventually

All these boot-licking establishment 'rent-a-brain' types will back pedal when they begin to twig that Bitcoin is going to be permitted by the Status Quo. Schiff might drag his heels a bit more because Bitcoin goes totally against his libertarian metal-bug 'real money' ideology.

....Krugmann though! The ultimate contrarian indicator!  If I were in his shoes, with his track record for being proven monstrously wrong again and again and again and again and again, I would be to embarrassed to put my 'intellectual' weight behind or against anything in full public view.

As much as I like you, MTC, Krugman, a highly recognized and regarded economist, has a Nobel Prize in Economics; what do you have???

The Nobel Prize in Economics is pretty much BS as it was only added (in 1968) by Sweden's central bank to celebrate its own 300th anniversary.

[spazzdla]

Krugman has a NB prize..

Obama has a NB prize.. he goes around slaughter 1000's a day............... A peice price?  Only a moron things the NB prizes mean anything any more, only a moron.

Al gore gets one for a Fing speach on global warming.. himself being a large problem... instead of a woman that saved 1000's from the nazis.. like I said.. only a moron.

[wachtwoord]

Krugman has a NB prize..

Obama has a NB prize.. he goes around slaughter 1000's a day............... A peice price?  Only a moron things the NB prizes mean anything any more, only a moron.

Al gore gets one for a Fing speach on global warming.. himself being a large problem... instead of a woman that saved 1000's from the nazis.. like I said.. only a moron.

Last year they gave one to the European Union. It's a fucking joke. Newton's rolling over in his grave.

[Wandererfromthenorth]

Don't worry, I have a long list of people that bashed on bitcoin heavily at one point in time.  No mercy, we will organise some proper trolling for all of them 

[mmitech]

Don't worry, I have a long list of people that bashed on bitcoin heavily at one point in time.  No mercy, we will organise some proper trolling for all of them  

here is the Bitcoin jihadist... Bitcoin akbar ?

[Wandererfromthenorth]

LOL