You can't compare searches for Bitcoin against previous searches for Bitcoin. That would be similar to comparing 2007 searches for gold versus 2001 searches for gold. Just because the 2007 searches exceed the 2001 searches did not mean we were in a bubble.
You need another benchmark to determine whether searches reflect mania. When the interest in Bitcoin reaches the interest, for example, in housing, circa 2006, I'll agree with your conclusion.
I shouldn't have to mention the following since it's irrelevant to the above objection, but I'm not interested in investing in Bitcoin. I'm just pointing out a fallacious argument. Cheers.
You can't compare searches for Bitcoin against previous searches for Bitcoin. That would be similar to comparing 2007 searches for gold versus 2001 searches for gold. Just because the 2007 searches exceed the 2001 searches did not mean we were in a bubble.
ReplyDeleteYou need another benchmark to determine whether searches reflect mania. When the interest in Bitcoin reaches the interest, for example, in housing, circa 2006, I'll agree with your conclusion.
I shouldn't have to mention the following since it's irrelevant to the above objection, but I'm not interested in investing in Bitcoin. I'm just pointing out a fallacious argument. Cheers.
The mania hasn't started yet. This is still early adoption.
ReplyDeleteWenzel, what're you gonna do when Bitcoin hits $100,000+ in two or three years? ; )