Post
Topic
Board Economics
Re: Why Bubbles Can Be Good - Using Bitcoin's 2011 Bubble
by
cellard
on 05/05/2017, 13:01:41 UTC
Bubbles are bad because the resources that a bubble wastes dwarf whatever benefits you may find.

The only way disruptive technology can grow is through bubble-burst cycles. You aren't going to see something as game changing as bitcoin grow smoothly, it's just impossible and it's in its nature go go like that.

So forget about a smooth ride, and get ready for insane price rises up to $10,000, with crashes of down to more than half the rise, then a higher floor and then another period of stable price, then $50,000 or $100,000+... that's how this goes.