muahaha, awesome! Thanks for taking the time to do this.
* molecular makes mental note to search for "bubble stages chart answer pic bookmark"
Topic: Noble Prize Winner who predicted Housing Bubble: Bitcoin is a bubble for sure! (Read 5736 times)
January 28, 2014, 03:09:50 PM
muahaha, awesome! Thanks for taking the time to do this.
January 28, 2014, 03:05:19 PM
If mainstream media (including RT) wasn't hating on bitcoin I would be suspicious.
+1
IF Obama suggested everyone to start investing into bitcoin I'd be definitely reaching for my
ftfm
January 28, 2014, 05:19:39 AM
So how far does the price have to drop before this is officially a bubble pop and not a normal market correction? The previous ATH of $260? more?
January 28, 2014, 04:51:55 AM
There is no nobel price for economics.. there is only a price sponsored by a huge bank in sweden named after nobel
1. You are correct, there has never been a "nobel price" for economics, only a price "in memory of Alfred Nobel". The reason is that Nobel himself didn't think the field of economics was WORTHY of any price. Seeing the current state of economic theory it's hard not to agree with him.
2. If it WAS a Nobel price it still wouldn't mean anything. It just someone somewhere decided to give you some money. See some of the recent "peace price" awards for examples (Obama and the EU!? Really?). People put way too much emphasis on being "accepted" by authority.
3. Getting the price is no proof you're not a blithering idiot, see Paul Krugman.
4. Even if Shiller's price was legitimate, it doesn't mean he'll be correct about everything he'll ever says. Smart people are frequently wrong, as proven by the fact that smart people frequently DISAGREE about almost everything. They can't all be right.
It's prize, damn it. You americans totally forgot engrish by now.
I was always told there was a price for everything
January 28, 2014, 04:34:16 AM
Bitcoin is currently in the ''return to normal/euphoria's last gasp'' phase.
I think people posted this chart in 2010 the first time, when Bitcoin crashed from 50Cent to 20Cent. When did Bitcoin reach the phase "new paradigma"?
January 28, 2014, 02:02:52 AM
Aren't these the same guys who caused the financial crash in the first place??
Must be hard for them not having control..
Must be hard for them not having control..
January 28, 2014, 12:48:02 AM
The Nobel Laureate in Economics is a big joke.
You must, absolutely must buy into the bullshit fabrication known as contemporary monetary policy to get award this award. It is not awarded to anyone who sees things at all differently. (At least as far as I know, can't say I studied it much, pls correct me if I'm wrong).
As bitcoin is in many ways different than the prevailing popular believes in economics, of course a Nobel Laurete is likely to be opposed to it. This doesn't seem very surprising to me. Besides, many of these baby boomers probably just mastered the science of sending an email, I don't think they are even capable of understanding how bitcoin even works, it's probably as far-fetched as traveling faster than light to them.
You must, absolutely must buy into the bullshit fabrication known as contemporary monetary policy to get award this award. It is not awarded to anyone who sees things at all differently. (At least as far as I know, can't say I studied it much, pls correct me if I'm wrong).
As bitcoin is in many ways different than the prevailing popular believes in economics, of course a Nobel Laurete is likely to be opposed to it. This doesn't seem very surprising to me. Besides, many of these baby boomers probably just mastered the science of sending an email, I don't think they are even capable of understanding how bitcoin even works, it's probably as far-fetched as traveling faster than light to them.
January 27, 2014, 09:38:17 PM
My God, you're right! I've run my own independent analysis, and have obtained eerily similar results:
Oh wait, never mind, I seem to have gathered outdated information.
January 27, 2014, 11:06:16 AM
And for me the beauty of the bitcoin was to solve in elegant way the "consensus problem" in a distributed system ... that was a stroke of genius
And what happens to be if the next "stroke of genius" happens to be Proof-of-useful-work?The internet is well and alive, Usenet fairly deserted and the Gopher protocol replaced some wierd little startup called Google. Nowadays the only part of the internet that most people know is the web. Well, "Web 2.0" as they call it.
"I tell ye, back in the days, it was madness. We were just wasting leccy on solving stupid crypto puzzles. And now? The CureForCancerCoin has already found treatments for 37 different variaties of cancer. Thanks to the SearchForFTLCoin the communication to mars takes less than a second. We used to have higher latency between Australia and the States often enough back then. Ah ye, CryptoCurrencies 1.0, what a waste. But we used to love em anyway."
January 27, 2014, 10:37:42 AM
There is no nobel price for economics.. there is only a price sponsored by a huge bank in sweden named after nobel
1. You are correct, there has never been a "nobel price" for economics, only a price "in memory of Alfred Nobel". The reason is that Nobel himself didn't think the field of economics was WORTHY of any price. Seeing the current state of economic theory it's hard not to agree with him.
2. If it WAS a Nobel price it still wouldn't mean anything. It just someone somewhere decided to give you some money. See some of the recent "peace price" awards for examples (Obama and the EU!? Really?). People put way too much emphasis on being "accepted" by authority.
3. Getting the price is no proof you're not a blithering idiot, see Paul Krugman.
4. Even if Shiller's price was legitimate, it doesn't mean he'll be correct about everything he'll ever says. Smart people are frequently wrong, as proven by the fact that smart people frequently DISAGREE about almost everything. They can't all be right.
It's prize, damn it. You americans totally forgot engrish by now.
January 27, 2014, 10:32:02 AM
And for me the beauty of the bitcoin was to solve in elegant way the "consensus problem" in a distributed system ... that was a stroke of genius
And what happens to be if the next "stroke of genius" happens to be Proof-of-useful-work?The internet is well and alive, Usenet fairly deserted and the Gopher protocol replaced some wierd little startup called Google. Nowadays the only part of the internet that most people know is the web. Well, "Web 2.0" as they call it.
"I tell ye, back in the days, it was madness. We were just wasting leccy on solving stupid crypto puzzles. And now? The CureForCancerCoin has already found treatments for 37 different variaties of cancer. Thanks to the SearchForFTLCoin the communication to mars takes less than a second. We used to have higher latency between Australia and the States often enough back then. Ah ye, CryptoCurrencies 1.0, what a waste. But we used to love em anyway."
January 27, 2014, 10:28:20 AM
There is no nobel price for economics.. there is only a price sponsored by a huge bank in sweden named after nobel
1. You are correct, there has never been a "nobel price" for economics, only a price "in memory of Alfred Nobel". The reason is that Nobel himself didn't think the field of economics was WORTHY of any price. Seeing the current state of economic theory it's hard not to agree with him.
2. If it WAS a Nobel price it still wouldn't mean anything. It just someone somewhere decided to give you some money. See some of the recent "peace price" awards for examples (Obama and the EU!? Really?). People put way too much emphasis on being "accepted" by authority.
3. Getting the price is no proof you're not a blithering idiot, see Paul Krugman.
4. Even if Shiller's price was legitimate, it doesn't mean he'll be correct about everything he'll ever says. Smart people are frequently wrong, as proven by the fact that smart people frequently DISAGREE about almost everything. They can't all be right.
January 27, 2014, 10:10:36 AM
If mainstream media (including RT) wasn't hating on bitcoin I would be suspicious.
+1
IF Obama suggested everyone to start investing into bitcoin I'd be definitely reaching for my tinfoil hat.
January 27, 2014, 10:09:13 AM
would be not surprise to me they also could argue that internet is a bubble as well ...
But, the internet was the prime example of bubble back in 2000, known as the .com-bubble. Even know, 10 years later Microsoft, is worth barely more than half of what it was worth back then. Sure, some stocks are worth quite a lot more than after the bubble bursting, but a lot of companies went bust.So, who knows, in ten years time ... maybe BTC at $500, DOGE market cap at $2B, 90% of the alts gone forever. As the saying goes, those who dont remember history are doomed to repeat it. And there are a lot of similiarities. People investing money in all kinds of coins without even knowing what they are even supposed to be for, unwaivering faith in future possibilities and completely ignoring economical fundamental data.
+1
The Internet clearly wasn't a bubble.
Internet Companies circa 2000 clearly were.
So you need to decide, does Bitcoin have the radical disruption factor and potential permanence of the Internet, or the flash-in-the-pan "nothing really new here" of a Pets.com.
I'd say it's closer to the former than the latter.
Yes but one can argue that you mistake bitcoin with the protocol.
And for me the beauty of the bitcoin was to solve in elegant way the "consensus problem" in a distributed system ... that was a stroke of genius
January 27, 2014, 09:52:48 AM
If mainstream media (including RT) wasn't hating on bitcoin I would be suspicious.
January 27, 2014, 09:49:12 AM
would be not surprise to me they also could argue that internet is a bubble as well ...
But, the internet was the prime example of bubble back in 2000, known as the .com-bubble. Even know, 10 years later Microsoft, is worth barely more than half of what it was worth back then. Sure, some stocks are worth quite a lot more than after the bubble bursting, but a lot of companies went bust.So, who knows, in ten years time ... maybe BTC at $500, DOGE market cap at $2B, 90% of the alts gone forever. As the saying goes, those who dont remember history are doomed to repeat it. And there are a lot of similiarities. People investing money in all kinds of coins without even knowing what they are even supposed to be for, unwaivering faith in future possibilities and completely ignoring economical fundamental data.
yep, but only if you see internet as a bunch of company's ...but if you see internet as a way to connect thousand of networks, billions hosts across the globe ..in my point of view is another thing ... but the bubble analogy can be applied to many things even our universe since the big bang is a bubble .. and by the way can start contract instead expand tomorrow ... who knows ?
January 27, 2014, 09:47:14 AM
would be not surprise to me they also could argue that internet is a bubble as well ...
But, the internet was the prime example of bubble back in 2000, known as the .com-bubble. Even know, 10 years later Microsoft, is worth barely more than half of what it was worth back then. Sure, some stocks are worth quite a lot more than after the bubble bursting, but a lot of companies went bust.So, who knows, in ten years time ... maybe BTC at $500, DOGE market cap at $2B, 90% of the alts gone forever. As the saying goes, those who dont remember history are doomed to repeat it. And there are a lot of similiarities. People investing money in all kinds of coins without even knowing what they are even supposed to be for, unwaivering faith in future possibilities and completely ignoring economical fundamental data.
+1
The Internet clearly wasn't a bubble.
Internet Companies circa 2000 clearly were.
So you need to decide, does Bitcoin have the radical disruption factor and potential permanence of the Internet, or the flash-in-the-pan "nothing really new here" of a Pets.com.
I'd say it's closer to the former than the latter.
January 27, 2014, 09:07:36 AM
would be not surprise to me they also could argue that internet is a bubble as well ...
But, the internet was the prime example of bubble back in 2000, known as the .com-bubble. Even know, 10 years later Microsoft, is worth barely more than half of what it was worth back then. Sure, some stocks are worth quite a lot more than after the bubble bursting, but a lot of companies went bust.So, who knows, in ten years time ... maybe BTC at $500, DOGE market cap at $2B, 90% of the alts gone forever. As the saying goes, those who dont remember history are doomed to repeat it. And there are a lot of similiarities. People investing money in all kinds of coins without even knowing what they are even supposed to be for, unwaivering faith in future possibilities and completely ignoring economical fundamental data.
+1
January 27, 2014, 09:04:57 AM
would be not surprise to me they also could argue that internet is a bubble as well ...
But, the internet was the prime example of bubble back in 2000, known as the .com-bubble. Even know, 10 years later Microsoft, is worth barely more than half of what it was worth back then. Sure, some stocks are worth quite a lot more than after the bubble bursting, but a lot of companies went bust.So, who knows, in ten years time ... maybe BTC at $500, DOGE market cap at $2B, 90% of the alts gone forever. As the saying goes, those who dont remember history are doomed to repeat it. And there are a lot of similiarities. People investing money in all kinds of coins without even knowing what they are even supposed to be for, unwaivering faith in future possibilities and completely ignoring economical fundamental data.
January 27, 2014, 06:21:51 AM
pure economics analysis guys have tendency to analyse bitcoin as financial instrument only therefore anything can be a bubble, they cant see bitcoin as a protocol but just in case they could see it... would be not surprise to me they also could argue that internet is a bubble as well ...
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