Friday, June 1, 2018

Make Room Bitcoin: The Chinese Salamander Bubble

From Ed Yong:
Bizarrely, only 3 percent of the animals raised by the farms are eventually sold to restaurants. The rest are sold to more start-up farms. This absurd amphibian Ponzi scheme so inflated the worth of the salamanders that a small, 2-kilogram individual could sell for around $1,500. As a result, people began supplementing the farmed stock by illegally collecting the animals from the wild. “The high prices created a sort of salamander rush,” says Jing Che from the Kunming Institute of Zoology, who was involved in the recent study.

(via Tyler Cowen)