I think that people are already used to the fact that Bitcoin is called a bubble, and do not attach much importance to this. Based on the course of bitcoin and its growth of people, this does not stop much and people buy already a nice price. Since every day is the new peak of prices
Topic: [2017-12-05] Yale Expert: Bitcoin is a 'dangerous speculative bubble' (Read 2886 times)
December 07, 2017, 06:09:15 AM
December 05, 2017, 04:56:33 PM
Makes me think of Reagan’s comment about liberal economists (a large majority are idiots or worse but keep getting promoted because they help the elite):
“A friend of mine was asked to a costume ball a short time ago. He slapped some egg on his face and went as a liberal economist."
Many of them have never held a real job or hired anyone so their theories are so far away from reality as to be laughable.
“A friend of mine was asked to a costume ball a short time ago. He slapped some egg on his face and went as a liberal economist."
Many of them have never held a real job or hired anyone so their theories are so far away from reality as to be laughable.
December 05, 2017, 03:53:24 PM
Why do you criticize this guy? Bitcoin today looks like financial company built on faith and technology but bitcoin have not solutions for any problems. Blockchain yes it is part of future)
It depends what answers you're looking for. What should I do if I don't trust banks with my money? What should I do if I want to send a lot of money abroad and PayPal fees are killing me? What should I do if I want to move my money out of the country without informing the authorities? What if I want to send money to someone at night and I want that person to get the payment within an hour? What if I'm keeping money at home and want to feel more secure? It's definitely an answer for all these questions. If you want more, invent your own form of decentralized money.
Quote
former Asia chairman and chief economist at investment bank Morgan Stanley.
This is the vital part and an answer to why he'll never get it.
December 05, 2017, 03:00:09 PM
When bitkoyn exceeded the cost of $ 10,000, and then also easily overcame the $ 11,000 mark, many started talking about how bitcoin is swelling as a financial bubble. And partly with this, it seems, is worth agreeing. Although bitcoin is already technologically a little outdated and its shortcomings are not being eliminated, it continues to grow in price successfully by increasing demand for it, and not by increasing its intrinsic value. Therefore here bitkoyn behaves like a normal bubble. However, the potential for growth in it is still huge, and in the future, developers, perhaps, something will come up in order for it to gain its necessary value.
December 05, 2017, 02:15:47 PM
Why do you criticize this guy? Bitcoin today looks like financial company built on faith and technology but bitcoin have not solutions for any problems. Blockchain yes it is part of future)
This guy is to be criticized because he is using his Yale credentials to spread fud. You cannot compare bitcoin to a company, let alone a financial company. If you go the Blockchain but not Bitcoin route, you just don't realize the importance of network effect and the importance of the strong computing power backing Bitcoin.
December 05, 2017, 01:38:44 PM
Why do you criticize this guy? Bitcoin today looks like financial company built on faith and technology but bitcoin have not solutions for any problems. Blockchain yes it is part of future)
December 05, 2017, 12:50:02 PM
https://www.cnbc.com/2017/12/04/bitcoin-is-a-dangerous-speculative-bubble-yale-expert-says.html
I love this guy and how bitcoin keeps unmasking the ignorant.
BTC may have features of a "security" but its not a security, its a currency, ledger, commodity, security, trust machine, protocol and more.
This guy needs a bit of a history lesson as to where thing did go vertical and never came back
eg
[1] Almost every technology curve ever
[2] weimar republic (mark)
Sure btc may have a correcting, but its going to 100K then onto 1M
I love this guy and how bitcoin keeps unmasking the ignorant.
BTC may have features of a "security" but its not a security, its a currency, ledger, commodity, security, trust machine, protocol and more.
This guy needs a bit of a history lesson as to where thing did go vertical and never came back
eg
[1] Almost every technology curve ever
[2] weimar republic (mark)
Sure btc may have a correcting, but its going to 100K then onto 1M
December 05, 2017, 03:19:37 AM
Quote
With the price of bitcoin moving toward $12,000, a top economist on Tuesday sent a stark warning to investors: The cryptocurrency is in a "dangerous speculative bubble." "This is a toxic concept for investors," said Stephen Roach, Yale University senior fellow and the former Asia chairman and chief economist at investment bank Morgan Stanley.
Roach, described by Yale as one of Wall Street's most influential economists, spent the bulk of his 30-year career at Morgan Stanley heading up a highly regarded team of economists around the world. He had a critical take on the explosion of buying the world's most popular cryptocurrency.
"This is a dangerous speculative bubble by any shadow or stretch of the imagination. I've never seen a chart of a security where the price really has a vertical pattern to it. And bitcoin is the most vertical of any pattern I've ever seen in my career," he added. Go to the source...
There is nothing new here. I think 99.999% of all the self-professing economists of the whole world would comment the same thing about Bitcoin. They are basing their opinions though on the things they have seen and read before. I am sure that these economists are just studying those crazy graphs and charts and have not analyze the essence of Bitcoin and how it can be a different animal compared to other investment vehicles we have around and the many historic bubbles in the past. On my part, I even partly agree that Bitcoin is right now frothing but I don't agree that it will pop soon and I don't agree that once it can pop that would be the end. Bitcoin has a good and exciting history of downs and ups similar to the legendary story of the Phoenix. Now, we just have to respect the opinions of these economists as they are just giving us warnings and it is all up to us whether to take their words seriously or just lightly.Roach, described by Yale as one of Wall Street's most influential economists, spent the bulk of his 30-year career at Morgan Stanley heading up a highly regarded team of economists around the world. He had a critical take on the explosion of buying the world's most popular cryptocurrency.
"This is a dangerous speculative bubble by any shadow or stretch of the imagination. I've never seen a chart of a security where the price really has a vertical pattern to it. And bitcoin is the most vertical of any pattern I've ever seen in my career," he added. Go to the source...
Are you inclined to listen to the words of an economist or preferred the one commented by John McAfee a well-known entrepreneur -- whose words will make come true in 2020?
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