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Eugene Fama also believes the value of a Bitcoin will be zero (as do I). So he is implicitly calling Bitcoin a bubble. He does this because he understands how
by luke5441 11mo ago
Eugene Fama also believes the value of a Bitcoin will be zero (as do I). So he is implicitly calling Bitcoin a bubble.
He does this because he understands how money works and how Bitcoin works.
- bofadeez 11mo agoYes but his point is it's impossible to detect in realtime. Timing.
- NoGravitas 11mo agoYou can detect that you're in a bubble, but there's no way to know how long it will keep going before it bursts.
- bofadeez 11mo agoWell yes, we're in a permanent bubble with fractional reserve banking and central planning. Mises institute spends a lot of resources explaining how that works to the public, etc. That's not helpful insight though in terms of taking informed action e.g. as an investor.