Quote from: unk on May 16, 2011, 01:32:19 AM

the psychological papers have already been written. the (nonscientific but still interesting) classic is of course http://www.amazon.com/Extraordinary-Popular-Delusions-Madness-Crowds/dp/051788433X. i don't mean that reference to suggest that everyone using bitcoin is deluded, but you might consider whether obsession is rational and what opportunity costs you incur as a result. the public is inclined to be less obsessive than the early adopters, of course.

but i agree that the technology is fascinating. the sociopolitical dynamics of the phenomenon are interesting as well, particularly the marketing of the technology by 'satoshi' as libertarian (which, when you review his original messages on the cypherpunks mailing list, was intentional and strategic). that could have gone very differently and was managed very well in order to appeal to one group of people who could serve as early adopters.

You make it sound like it was planned, or managed even.

What if it was just organic, inevitable even, that something like this would be a product of thinkers like these?

Rational is as rational does.

Not sure how the euphoria fits in here but the euphoria of scientific discoveries and engineering "IT WORKS" moments, is just as intoxicating as the euphoria of making money off a bubble, unfounded or otherwise.

Roll the two together and you got a heady brew!