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.



  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

  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.