Wanted: Domain Appraisal Bitcoin Set?

[timter51]

The madness of crowds and other popular delusions.

Great book.

It is scary reading in bitcoin forums the kind of madness that creeps in... go on bitcointalk and you'll find people who genuinely forecast up to $1,000,000 per bitcoin (all be it best case scenarios). Also people who admit to bitcoin being 99% of their portfolio. I've put a bit in, in the hope that there is at least room for further growth for now.

 

[Edwin]

The madness of crowds and other popular delusions.

Great book.

Yes, it is.

 

[dashu1]

It is scary reading in bitcoin forums the kind of madness that creeps in... go on bitcointalk and you'll find people who genuinely forecast up to $1,000,000 per bitcoin (all be it best case scenarios). Also people who admit to bitcoin being 99% of their portfolio. I've put a bit in, in the hope that there is at least room for further growth for now.

it's just like on the share dealing forums. I remember one company, Tanfield, who made electric milk floats and were "getting into" other electric vehicles just as the big green bug was taking hold.

Despite the company having no orders people piled in to them and the share price shot from a few pence to about £20 per share, but still no one could see it was all fantasy and a big bubble fueled by speculation.

Then it collapsed.

Another was Stanelco who make RF furnaces but announced they were getting into "green packaging" and their share price also shot up from I think around 1p to 32p, then people were insisting it'd be £15 a share by Christmas, etc.

They're now a fraction of a penny per share.

I think it's funny that economists site around trying to come up with theories of how the stock markets work, how this economic influence does X, Y, or Z when the truth is it's often fueled by greed and then fear and not much else.