So I think Bitcoin is a radical, interesting, and useful innovation in theory. In practice it is kind of a mess.
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Yes, volatility is on a spectrum, can’t expect complete absence of volatility, but *come on*.
Also, the free market isn’t magically producing good financial institutions to enable desirable fluidity.
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Also a problem that stems from Bitcoin being used as a speculative vehicle rather than a day-to-day medium of exchange.
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Without a robust internal volume of trade, Bitcoin’s value is totally dependent on exchange to fiat currency. Exchanges are not great...
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… and can be regulated or put out of business by sovereign governments.
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@sarahjeong I think of it as a fascinating alpha. See also https://al3x.net/2013/12/18/bitcoin.html … -
I also think it’s an alpha.
@mathpunk
Fin de la conversation
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@sarahjeong It never does. Bubbles emerge spontaneously from human speculative behavior, and you can do it in a lab http://personal.vu.nl/a.j.menkveld/4nations/papers/moinaspouget12.pdf …Merci. Twitter en tiendra compte pour améliorer votre fil. SupprimerSupprimer
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Le chargement semble prendre du temps.
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