3 ms·
This has been the dominant view of HN since the beginning. The only reason I didn't buy bitcoin at $1 was because of what I read on HN. Now it's at $4,000. N
by sixQuarks 9y ago
This has been the dominant view of HN since the beginning. The only reason I didn't buy bitcoin at $1 was because of what I read on HN. Now it's at $4,000.
Not saying you should go out and buy bitcoin now, but logic often doesn't predict human actions.
- ceejayoz 9y agoKeynes: "Markets can remain irrational longer than you can remain solvent."
- crispytx 9y agoThis ^^^. But the bubble always bursts, and someone always gets stuck eating the soggy biscuit.
- lostmsu 9y agoI highly doubt this is logic.
- curtkobain 9y ago.. or that view of reality is missing important pieces of the puzzle. the idea this is "emergent" is laughable.
- nugget 9y agoWell if you really believed it was a flawed technology but "fit for speculation" then you could have rationally bought in early just on that basis alone. It's clear that many people buy a little Bitcoin and then become loud advocates for the currency; repeating the facts they like, ignoring the facts they don't; which has helped to power the increase in valuation so far, but has to run out of steam at some point (perhaps far, far into the future). The underlying technology has interesting potential but I think we'll see it evolve through several generations before broad consumer utility (either direct, or through platforms) is realized.
- sixQuarks 9y agoThat's the problem, HN's hivemind was saying it wasn't fit for speculation, and since I didn't know anything about it, I didn't even consider it.