[ExI] [mta] Re: "Crypto Coin Law" vs "Law of the Crypto Coin"?

[Gordon]

On 8/8/2013 4:00 PM, James Carroll wrote:



> Financial markets already price in their predictions about future rises in value. 
> And they have a sample size slightly larger than Brent's 2 people over on Canonizer.... 
> If he really wants to survey the beliefs of the masses, the financial market is already doing just that.

Exactly, James.

Bitcoin would skyrocket in price if there were any sort of Law of Bitcoin and if investors believed in it. But there is no reason to believe there is any such thing. The mere fact that the price has shown a nice upward trend is not evidence of any sort of underlying "Moore's Law." It is evidence merely that *so far* Bitcoin has enjoyed increasing acceptance by investors. The price trend is no different from any other price trend in any other kind of financial instrument, and trends reverse all the time. 

There is a saying in the markets that "the trend is your friend." It's a clever saying, but it is not taken so seriously that anyone supposes trends are written in stone according to some law. Anyone with investment experience knows this.

Gordon
Sorry if this message is a dupe. It bounced the first time.
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