Re: Crypto is more like “a psychological experiment than a serious investment"
Robert Shiller, professor of economics at Yale University and co-founder of the Case-Shiller Index, expressed his idea about cryptocurrency.
"I'm interested in bitcoin as a sort of bubble.
The bitcoin craze reminds him of tulip mania in the 17th century, the event which is considered one of the first recorded speculative bubbles where a buying frenzy and lofty expectations replace rational justifications for an item's value.
The price of bitcoin grew so fast.
A lot of people have benefited from the cryptocurrency investment.
Bitcoin held above $8,000 on Friday morning after topping that level a day earlier. The two-day rally comes after a weak start to April likely tied to tax-related selling.
Will the bitcoin disappear? What's the true value of bitcoin? What essence in bitcoin are we paying for?
This guy sure has the right to express his opinion, but witth all due respect I believe he is wrong. Bitcoin is not a bubble. I mean, its price might be more than it deserves, but blockchain tech is real and potentially useful in many situations. Blockchain can cooperate with neuron networks to help with recognition, identification of solid and fake products etc. Not to mantion that it embodies the idea of the free economy, when it is up to people to decide the prices with all thw advantages and disanvantages it leads to. "I'm interested in bitcoin as a sort of bubble.
The bitcoin craze reminds him of tulip mania in the 17th century, the event which is considered one of the first recorded speculative bubbles where a buying frenzy and lofty expectations replace rational justifications for an item's value.
The price of bitcoin grew so fast.
A lot of people have benefited from the cryptocurrency investment.
Bitcoin held above $8,000 on Friday morning after topping that level a day earlier. The two-day rally comes after a weak start to April likely tied to tax-related selling.
Will the bitcoin disappear? What's the true value of bitcoin? What essence in bitcoin are we paying for?
There already was a thread about tulip mania once on bitcointalk and people there wee explaining the differences of bitcoin from that phenomenon. I think among the obvious differences is that fact that tulips differ from each other a lot less than fiat from cryptocurrencies. The fashion of btc might not be justified, but the product is kind of real and thus shouldn't be treated as a merely weird psychological phenomenon.