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)

15374 hits

< Bitcoin Crashes - Again. 3 things you need to know about Bitcoin | The Friendship Paradox, a (Power) Law of Nature >

Trackbacks

Trackback specific URI for this entry

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

Comments

Display comments as (Linear | Threaded)

No comments

Add Comment

Name
Email
Homepage
In reply to
Comment	Enclosing asterisks marks text as bold (word), underscore are made via _word_. Standard emoticons like :-) and ;-) are converted to images. E-Mail addresses will not be displayed and will only be used for E-Mail notifications. To prevent automated Bots from commentspamming, please enter the string you see in the image below in the appropriate input box. Your comment will only be submitted if the strings match. Please ensure that your browser supports and accepts cookies, or your comment cannot be verified correctly. Enter the string from the spam-prevention image above:
	Remember Information? Subscribe to this entry