[ExI] "Crypto Coin Law" vs "Law of the Crypto Coin"?

[Gordon]

Brent Allsop <brent.allsop at canonizer.com> wrote:


> Still, I think you must admit, that there is a theoretical possobility, that the same bitcoin growth we've seen to date, could continue for the foreseeable future

I certainly hope so! I have money riding on it!

But I would not attribute a continuation of that growth to any "law". It is merely a trend. Many things could disrupt that trend. We still don't know if Bitcoin will become widely accepted as a currency, for example. If sentiment turns against that idea, the price trend will break down and bitcoin will likely fail. Bitcoin is perhaps one the most speculative investments on the planet. 

If you look at the sales of hula hoops in the 60s, you will probably see something like exponential growth. Was there a "Moore's Law of Hula Hoops" in place? If so, what happened to it? Hardly anyone buys hula hoops anymore, so I guess that "law" was only imaginary. I'm afraid the same is true of your supposed Law of Bitcoin. It's wishful thinking, Brent.

Gordon

On 8/6/2013 11:33 PM, Gordon wrote:

Sorry my last two posts appeared twice. It seems Brent has ExI listed twice on his to: line. I removed one entry this time.
>
>
>So as not to waste this post, I might as well mention that I am having a good chuckle thinking about how some of my old investment clients might have reacted had I told them they should buy gold or bitcoin or anything else because the price action was driven by some "law".
>
>
>"I think you should buy some Bitcoin here, Bob."
>
>
>"Really, Gordon? Why?"
>
>
>"It's going up in price according to the Law of Bitcoin! According to the Law of Bitcoin, you should make a lot of money!"
>
>
>"What the hell is the Law of Bitcoin?"
>
>
>"I read about the Law of Bitcoin on the Internet. The price went up a lot, so there must be a Law that it will go up a lot more."
>
>
>"Very funny, Gordon. What is this, some kind of April Fool's joke?"
>
>
>:)
>
>Gordon

_______________________________________________
extropy-chat mailing list
extropy-chat at lists.extropy.org
http://lists.extropy.org/mailman/listinfo.cgi/extropy-chat
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20130808/64f593d2/attachment.html>