Bitcoin and South Sea Bubbleography

Thursday, April 11. 2013

Bitcoin and South Sea Bubbleography

At the top of the South Sea Bubble of 1711-1720, investors were eagerly pouring money into an enterprise advertised as:

"a company for carrying out an undertaking of great advantage, but nobody to know what it is"

At the (current) top of the Bitcoin Bubble (2011 - ?) investors are pouring money into:

"a company* for carrying out an undertaking of great advantage, with a currency that doesn't exist, generated by a method that nobody is to know what it is (and wouldn't understand if they did)"

This time, of course, It Will Be Different.....

Or alternatively, read George Santayana

* I use the term loosely

Posted by Alan Patrick in Odds and Sods at 19:02 | Comments (0) | Trackback (1)

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Another Bitcoin Bust
Bitcoin/Dollar exchange rate periodicity (courtesy CustD) Ooops, there has just been another one....quite a good analysis of the Bitcoin beliefset is over here friom Alex Payne, but in short, as Alex says: Bitcoin owes its present flexibility to a

Weblog: broadstuff
Tracked: Dec 20, 13:22

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