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If you don't understand technology you're not going to understand crypto-currency, that's the point.
by sodafountan 9y ago
If you don't understand technology you're not going to understand crypto-currency, that's the point.
- TheAdamAndChe 9y agoThis is wrong. You don't need to understand hashing and network algorithms to understand supply and demand. There's a fixed supply of bitcoins and a rising demand due to speculation. Anyone can see that that this is what is driving the growth, but blind speculation is how bubbles form, and bubbles always pop. Here[1] are the signs of asset bubbles. I've posted the signs I feel are most relevant to Bitcoin below. > Rationalizing borrowing, lending and purchase decisions based on expected future price increases rather than the ability of the borrower to repay. > Rationalizing asset prices by increasingly weaker arguments, such as "this time it's different" or "housing prices only go up." > A high presence of marketing or media coverage related to the asset. [1] https://en.wikipedia.org/wiki/Economic_bubble#Identifying_asset_bubbles https://en.wikipedia.org/wiki/Economic_bubble#Identifying_as...