Friday, February 9, 2018

Is Bitcoin a Super Bubble?

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


2 comments:

  1. 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.

    Coinbase Bitcoin chart

    ReplyDelete
  2. 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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