BITCOIN THREAD ON TYLER COWEN”S SITE I disagree with his premise. First, because

http://marginalrevolution.com/marginalrevolution/2013/12/how-and-why-bitcoin-will-plummet-in-price.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+marginalrevolution%2Ffeed+%28Marginal+Revolution%29INTERESTING BITCOIN THREAD ON TYLER COWEN”S SITE

I disagree with his premise. First, because the price of cryptocurrency is neutral. It’s just a means of financing it. In the long run it’s neutral. It might be a bad investment in the long term but I kind of doubt in the medium term that it’s other than pretty fair.

Not sure why, but economists are almost worse than technologists at understanding BTC. Or its value. That’s because, as I’ve been saying, it isn’t money, it’s a money substitute like token money sold under a stock sheme.

All stocks like this run up, peak and then decline. But the point is, the money is made by then, and teh product is commoditized. And assuming there isn’t any interference from the state, it should work as other stocks do. (big assumption I know.)