07 Nov '13, 12pm

REMINDER: Bitcoin Is The Perfect Asset Bubble -- Prices Could Go Vastly Higher From Here

REMINDER: Bitcoin Is The Perfect Asset Bubble -- Prices Could Go Vastly Higher From Here

Earlier this year, the price of the electronic currency Bitcoin exploded upwards, making its early advocates rich and smug and leaving everyone else shouting "bubble!" Then, the price of Bitcoin crashed, making everyone who had cried "bubble" feeling smart and smug. And then, a few weeks ago, the price of Bitcoin started exploding again. And, so, once again, Bitcoin believers are crowing, and everyone else is mumbling about "bubbles." So, who's right? Most likely, everyone. Why? Because Bitcoin is the perfect asset bubble. There is absolutely no way to value Bitcoin, which means there is nothing constraining its price other than supply and demand. As long someone new can be convinced to buy Bitcoin, its price can keep rising. Bitcoin prices could literally go to 1,000 or 10,000 or 100,000 or 1 million per coin, and there would be no way to prove that these prices were ridi...

Full article: http://www.businessinsider.com/bitcoin-bubble-2013-11

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The Bitcoin Bubble

The Bitcoin Bubble

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washingtonpost.com 09 Nov '13, 5pm

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@naval

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huffingtonpost.com 06 Nov '13, 6am

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The price of a bitcoin, in gold, over time

The price of a bitcoin, in gold, over time

QZ.com 10 Nov '13, 2pm

At the start of this year, on January 2, 2013, gold was trading at $1,687.90 per toz, and bitcoins were priced at just und...