Is the Bitcoin bubble a reflection of global macro froth?
News & Commentary
In order to understand a market, we have to understand all markets that have an influence on it. The commentary thread below reminds us of asset overvaluation across the board.
Many claim that the BTC bubble has burst. BTC isn't a bubble --it's a response to the very real bubbles in our economy today.— Brendan Bernstein (@BMBernstein) April 10, 2018
Govt control of money and the most important price in a capitalist economy--the interest rate--has caused distortions and true bubbles. Let's take a look
Wise words. pic.twitter.com/BA86qMHxXm— Riccardo Spagni (@fluffypony) April 10, 2018
Only in #Bitcoin will you find a ‘bear’ market that is up 700% in 1Y. 🤷♂️— Melik Manukyan ⚡️ (Ludvig Art) (@realLudvigArt) April 10, 2018
"This suggests that there’s a good and easy way for regulators to reduce the incidence of bubbles. Whenever a new asset is created or a bunch of new investors enters the market, allow more futures trading and other exchanges that let pessimists publicly register their pessimistic beliefs. That won’t totally prevent all bubbles -- the late 1990s technology stock bubble, for instance, happened in spite of the existence of stock futures markets."
"We've yet to see a crypto custody solution that we've felt was superior to us just handling custody on our own, and not crazy expensive. Hopefully by year end something will be available." - from Prop trading panel— Crypto Bobby (@crypto_bobby) April 10, 2018
"In particular, the First Theory — Bitcoin being like a digital gold — and the Third Theory — Bitcoin leading to Nash’s Ideal Money — run pretty much in parallel to one another, with the key difference being that the latter states that fiat currencies survive and adjust, while the former states that hyperbitcoinization will disrupt fiat currencies entirely, with everyone eventually demanding payment for their goods, services, and labor in bitcoin."
Technical & Updates
@bramcohen Some thoughts on proofs-of-time, as I've been spending a bunch of time looking at ASIC design lately...— Peter Todd (@peterktodd) April 10, 2018
0) As we know, if I have a significantly faster proof-of-time than others, I have a potential advantage.
"The currency is guided by four main principles. These include multi-stakeholder inclusivity, free speech, and consideration, incremental privacy and security as well as free and open-source software. These principles are supposed to ensure that Decred can meet the needs of its users, foster communication and participation while maintaining decentralization and autonomy. Decred developers believe this is what bitcoin was meant to be."