I commented on bubbles and super bubbles and bitcoin last year and I also took a stab at guessing what Murray Rothbard would think about bitcoin.
Since the price of bitcoin is now some 50% plus off its highs, from the time I commented, it makes sense to take a second look at what I said: here. And be sure to check out the comments where commenters attacked me for my views on bitcoin when the price was much higher.
-RW
Bitcoin functions in many ways like gold. It is a known quantity, it exists as a result of work, it cannot be inflated into existence, it has certain attributes. Is it overvalued? Only the market can offer an answer to that question. Is there a Bitcoin bubble? Is there a Bitcoin super bubble? Offer a definition to those two terms and you may receive a coherent answer.
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I wonder what James Altucher is saying now. I hope he's not in a furniture-free living room, lying on his back and sobbing about the millions he's lost.
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