Quote from: ebliever on February 06, 2018, 04:26:14 PM

Quote from: QuestionAuthority on February 06, 2018, 06:40:45 AM

Im not sure what youre getting at? This isnt new info.

The greatest minds in finance (I mean people in the real world, not bitcoinland) have been saying for a month that bitcoin is in a huge bubble that is going to pop.

These are people with advanced degrees in economics, business administration and finance being published by ages old respected economic reporting agencies. Forbes, Bloomberg, Wired, Entrepreneur, Fortune, Inc., The Economist, Kiplinger's, Harvard Business Review have ALL published articles telling about the impending disaster thats about to happen when the bubble pops.

Everyone has been informed so no one should be surprised unless they live in a total vacuum somewhere above the fucking Arctic circle in an igloo. If the people on this forum want to ignore all of the worldwide brainpower saying the exact same thing, let them.

Anyone else find this post ironic given the screen name of the poster? Wink

The "experts" have been wrong far more often than they have been right on Bitcoin. I could care less who has what opinion about Bitcoin - only the reasoning process behind their conclusions is what matters to me. And yet when they voice their reasoning on this subject I often find it lacking even at a cursory examination.

Ive been waiting for you to appear (well not you specifically but someone with your viewpoint).

Global economics didnt change the minute bitcoin arrived on the scene. Bitcoin is a new way to send value across great distances, its not a cure all for the ills of economic instability. The protocol doesnt set its own USD/BTC exchange rate. It doesnt morph into an economy like a Power Ranger (shape of a stable economy, Power Rangers activate). It wasnt designed for that. Im sure you know that, I dont need to explain that to you.

Professionals in economics and finance have dedicated their lives to the study of markets and money. Their insights could be used to help us and bitcoin in general but instead of really listening to what their saying everyone here spends all of their time nitpicking and attempting to tear them down. Why learn from them when we can just cheerlead and get that new ATH and profit, right. New ATH and sell, sell, sell, then find the bottom and buy, buy, buy.

Im not going to waste our time by asking you for specific examples of when they were wrong and how. Have you really ever thought why theyre wrong when they miss the mark? What part of the picture is available and transparent for study normally that isnt available in bitcoinland?

Most Bitcoin exchanges have no oversight whatsoever and most of them have refused to be audited by independent outside third parties. That cannot happen normally because there are laws against it. BTCe was laundering massive amounts of money for years and we were all oblivious. MtGox destroyed lives because of the lack of oversight and auditing. Bitfinex and Tether are getting ready to do the same thing again, rinse and repeat. Also, insider trading is a plague in bitcoin and happening all over the bitcoin economy that would be discovered with a little more close scrutiny. There is probably more off-book trading being done than on-book. We have no idea how many bitcoin sales are happening at Overstock.com or Microsoft because all the money is immediately exchanged off-book by BitPay.

Just the impropriety we know about is enough to make me realize no analyst, regardless of how knowledgeable or experienced, could ever completely predict the outcome of anything in bitcoinland perfectly because of the unchecked impropriety. He could, however, predict a major value crash in the near future thats so obvious it slaps you in the face.