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My take is that it's all a speculative boom, similar to US equities right now but amped up since it's a novel type of asset that people can convince themselves
by scarmig 6y ago
My take is that it's all a speculative boom, similar to US equities right now but amped up since it's a novel type of asset that people can convince themselves has unique characteristics that lend themselves to a consistent 100% CAGR.
- akimball 6y agoIt certainly does have unique characteristics. The question for speculators is whether those characteristics imply a high future price, and on what time scale. There is ample data to make many principled inferences on these points. The question for adopters is whether those characteristics facilitate their intended application, and this will often be decided independently of market clearing prices, on technical and physical characteristics.