{"id":324,"date":"2021-05-19T23:09:35","date_gmt":"2021-05-19T23:09:35","guid":{"rendered":"https:\/\/david.bookstaber.com\/?p=324"},"modified":"2021-05-19T23:09:35","modified_gmt":"2021-05-19T23:09:35","slug":"bitcoin-bubble","status":"publish","type":"post","link":"https:\/\/david.bookstaber.com\/?p=324","title":{"rendered":"Bitcoin Bubble"},"content":{"rendered":"\n<p><a href=\"https:\/\/davidbookstaber.blogspot.com\/2021\/04\/the-bubbly-runaway-cost-of-bitcoin.html\" target=\"_blank\" rel=\"noreferrer noopener\">I explained this in more detail last month on my finance blog<\/a>, but for the record here:<\/p>\n\n\n\n<p><strong>Bitcoin (BTC) is a pathological cryptocurrency.  BTC does not represent the opportunities that are emerging in the decentralized-finance (\u201cDeFi\u201d) paradigm<\/strong>.\u00a0 BTC is one of many evolving cryptocurrencies.  As an early mover it attracted speculators who think &#8220;crypto&#8221; is the future but who don&#8217;t have an intelligent way to invest in that future.\u00a0 The speculators drove a bubble in BTC price which then created a mob of &#8220;<a href=\"https:\/\/en.wikipedia.org\/wiki\/Economic_bubble#Greater_fool_theory\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Fools<\/a>&#8221; who heard stories of people making windfall profits in BTC and didn\u2019t want to miss out.\u00a0 <a rel=\"noreferrer noopener\" href=\"https:\/\/davidbookstaber.blogspot.com\/2021\/04\/on-bubbles-cryptocurrency.html\" target=\"_blank\">This is a classic manic bubble.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) does not represent the opportunity of the cryptocurrency or decentralized-finance (\u201cDeFi\u201d) paradigm.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[15],"tags":[],"class_list":["post-324","post","type-post","status-publish","format-standard","hentry","category-finance","post-archive"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=\/wp\/v2\/posts\/324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=324"}],"version-history":[{"count":1,"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=\/wp\/v2\/posts\/324\/revisions"}],"predecessor-version":[{"id":325,"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=\/wp\/v2\/posts\/324\/revisions\/325"}],"wp:attachment":[{"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/david.bookstaber.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}