Tuesday, February 13, 2018

Crypto Craze

There is no rational argument for the price of bitcoin or any other crypto currency. Any price.  A good article in the NYT effectively pulverizes the crypto, yet the Chicago Futures Market (pic) shows that most players think that the current price will be maintained at least till June. And they are ready to bet their money on it.

The solution of this mystery is the irrationality of the market, of the investors, of the economic theory. The Dutch tulip craze is the model, or pyramid schemes. Once more, I understand that planning for the future is almost impossible, values and resources are based on the existence of stable groups of organized people, like Britain and America. And Israel. 
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3 comments:

  1. BFebruary 13, 2018 at 11:55 AM

    Crypto makes sense to me-it eliminates the moral hazards of governments, which print money, tax it, distribute it and spend it.

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  2. JFebruary 13, 2018 at 9:49 PM

    (1) Government's heavy regulatory hand easily reaches the crypto universe.
    (2) With currency you can pay taxes and buy government services like visiting museums. There is no sure use for crypto
    (3) It definitely is a pyramid scheme, people buys and holds it expecting there will be demand for it.

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  3. Nathan RodriguezMay 16, 2018 at 9:56 PM

    Great article on Crypto Craze. Nice blog you have here, congratulations on the effort to build it, some of the topics provided contains valuable information on cryptocurrencies. Interested in bitcoin faucets?


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