[ExI] Inflation graph

Kelly Anderson kellycoinguy at gmail.com
Sun Dec 1 01:23:05 UTC 2013


On Sat, Nov 30, 2013 at 6:00 PM, Anders Sandberg <anders at aleph.se> wrote:

> 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.
>

And who is to say that it is a bubble? There may be a little bit of a
bubble at the moment, it will correct, then in three months, it will be
right back where it was when the bubble burst. There is something real at
the bottom of Bitcoin, I'm convinced of it.

-Kelly
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