Tag: bitcoin

for every $1 of Bitcoin converted into cash, up to $25,000 of paper wealth is destroyed

Bitcoin continues to demonstrate how bad of an investment it is, losing 15% of its value in under 36 hours: A $1000 point drop in just a few hours and a $500 point drop in just a few minutes. Some will respond, “But…but…it’s up 1000% since early 2017!!” …and my response is, “but …but …it’s… Continue reading for every $1 of Bitcoin converted into cash, up to $25,000 of paper wealth is destroyed

Bitcoin idiot Tom Lee at it again (and when it’s time to buy Bitcoin again)

Strategist Tom Lee Predicts New All-Time Highs for Bitcoin in July I made a post about him a few weeks ago. This is the forth time in the span of just three months Tom Lee has promised new bitcoin highs, and Bitcoin has continued to go lower. If Bitcoin fails to at least stay above… Continue reading Bitcoin idiot Tom Lee at it again (and when it’s time to buy Bitcoin again)

Bitcoin is an asset class first and a currency second

With Bitcoin blasting past the $2,000 barrier, the doubters are at it again> Bitcoin is a Speculative Asset, Not a Currency, Says Economics Professor Bitcoin does not make a good currency for two key reasons: its unstable value and its slow transaction time. Dorfman claims the most important feature a currency has is being a… Continue reading Bitcoin is an asset class first and a currency second

Why Bitcoin Keeps Going Up: Analysis

The huge 2016-2017 Bitcoin rally is on a lot of people’s minds: Why does it keep going up? Didn’t all the ‘experts’ in 2011-2014 say it was a bubble? Why does it refuse to burst? Is it a bubble? Maybe not. Correct Predictions, Part 2: Over and over again I keep being right: Bitcoin keeps… Continue reading Why Bitcoin Keeps Going Up: Analysis

Correct Predictions

Predicting the future is notoriously hard, and that seems to have so far discouraged potential authors and readers alike. Predicting is not as hard [1] as, say, understanding theoretical physics or algebraic geometry. There is a simple heuristic I use: assume past trends will continue. Stocks will keep going up, wealth inequality will keep widening,… Continue reading Correct Predictions

The Daily View: 1/17/2016 (lots of stuff)

From Fred Reed: The Inevitability of Eugenics I predict within 50 years America will start giving Eugenics a serious consideration as a way to tackle the growing entitlement spending problem, which by then will be much bigger than it is now if trends persist. Liberals and conservative alike need to get over this squeamishness of… Continue reading The Daily View: 1/17/2016 (lots of stuff)

Bitcoin Going Nuts Again

The left hoped bitcoin would be another fad or bubble, but you can’t keep a good thing down for long, and Bitcoin is surging again: Bitcoin is not going away. It’s here to stay, having long graduated from the ‘fad’ or ‘novelty’ stage. Transaction volume is at multi-year highs: As a disclosure I own Bitcoin,… Continue reading Bitcoin Going Nuts Again

The Daily View: Economics, Poverty, Treasuries, Geithner, Bitcoin

The discussion of economics in the context of wealth inequality has become the new American pastime, along with idling on Facebook and watching re-runs on Netflix. Even those who have never taken an economics class have an opinion. And why wouldn’t they? Economics is a social science in that it involves people and their interactions… Continue reading The Daily View: Economics, Poverty, Treasuries, Geithner, Bitcoin