[ExI] Inflation graph

[Anders Sandberg]

On 2013-12-01 00:50, Kelly Anderson wrote:
>
> I find it interesting that at the end of nearly every story on Bitcoin 
> I've seen in the media, one reporter says at the end "I think I'll 
> stick with dollars and I think everyone else should too" to which the 
> other reporter replies, "Sounds like a good idea Jim."
>
> Perhaps they aren't economists... LOL

Ironically, *The Economist* has a leader this week
http://www.economist.com/news/leaders/21590901-it-looks-overvalued-even-if-digital-currency-crashes-others-will-follow-bitcoin
that concludes: "So let a thousand altcoins bloom. In the meantime, if 
you are lucky or clever enough to have owned an asset whose price has 
risen 60-fold in a year, it might be time to sell."

Now, the authors are presumably journalists, but The Economist has a 
certain level of credibility and competence although it is empirically 
no better than anybody else in spotting *when* bubbles will burst - 
seeing that something is a bubble is no help in itself.


-- 
Dr Anders Sandberg
Future of Humanity Institute
Oxford Martin School
Oxford University