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
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
Tracked: Dec 20, 13:22