Friday, December 15, 2017

Economist Insults the Bitcoin World and Millennials, But...

...his comments are pretty sound.

Savvas Savouri, chief economist at Toscafund Asset Management, told the BBC:
My 12-year-old son was trading picture cards with his friend: he got bored with it. And the current generation who are trading bitcoin will get bored of it...

I think they are sort of financially illiterate.

You can’t deny the exponential growth of the price of bitcoin but we mustn’t confuse the price of something with its value.

It’s a bubble. We have been here before: this will burst.

1 comment:

  1. Got to figure that the smart Bitcoin investors are seeing this as a bubble and are moving to any of the other cryptocurrencies or other assets