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<p>[QUOTE="ToughCOINS, post: 25918251, member: 20480"]You've got it backward. Bubbles don't pop because the number of fools is decreasing . . . they pop because increased participation drives excessive price pressure . . . just like excessive multiples for stocks.</p><p><br /></p><p>I don't write off the technology at all. You can find that in my other other posts about Bitcoin, and about other crypto-currencies and about Blockchain in particular. I think blockchain holds great promise, but only for high value transactions . . . not everyday low value transactions.</p><p><br /></p><p>As for Bitcoin . . . I am not a believer it is anything more than a ponzi scheme, and a much more clever one than most. The day will come when we learn who Satoshi Nakamoto really is . . . I'm hopeful it's before he discloses it in a suicide note following the crash of Bitcoin, but I suspect that's how it will play out.[/QUOTE]</p><p><br /></p>
[QUOTE="ToughCOINS, post: 25918251, member: 20480"]You've got it backward. Bubbles don't pop because the number of fools is decreasing . . . they pop because increased participation drives excessive price pressure . . . just like excessive multiples for stocks. I don't write off the technology at all. You can find that in my other other posts about Bitcoin, and about other crypto-currencies and about Blockchain in particular. I think blockchain holds great promise, but only for high value transactions . . . not everyday low value transactions. As for Bitcoin . . . I am not a believer it is anything more than a ponzi scheme, and a much more clever one than most. The day will come when we learn who Satoshi Nakamoto really is . . . I'm hopeful it's before he discloses it in a suicide note following the crash of Bitcoin, but I suspect that's how it will play out.[/QUOTE]
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