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 18:02 | Comment (1) | Trackbacks (0)

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A lot of business were build today and lots of them go down due to the advances of technologies.

#1 Reputation Advocate (Homepage) on 2013-04-17 02:25 (Reply)

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