Many thanks for posting those articles about bitcoin.
When I was regular viewer of CNBC, Ben Stein, the iconoclastic commentator, told the viewers during the Dot Com mania era it is difficult to recognize you're in a bubble while you're in it.
Back in late 1998 to mid 2000, some internet stocks were priced at price/earnings multiples -- for one that actually had earnings -- up 1000 times trailing 12 month earnings. At that level, the underlying companies would have to continue producing increasing earnings for the next 100 years just to become "fairly valued."
Some private internet companies were financed by venture capitalist up to 9 times before they folded.
Online trading firms mushroomed at that time. The ads promoted the notion that the little guy could outperform the experts.
Critics during that period -- and there were many -- predicted the end was nearing because New York City cab drivers were tossing out stock tips to passengers.
Perhaps one major difference concerning bitcoin is the general absence of IPOs on the NASDAQ touting their expertise with bitcoin. A day doesn't go by now without my noticing a headline for a pink sheet company touting itself as a bitcoin/blockchain company. There is a glut of ads elsewhere on the pages about companies claiming expertise in trading crypto money.
What this says to me is the larger marketplace of asset managers isn't particularly interested in crypto money. Given how well the world's stock markets have performed since the low in March 09 I figured the lack of interest is logical. Why throw good money after bad?
I don't keep tabs of every pink sheet company with a bitcoin angle. What I've noticed is certain tickers will shoot up a few hundred percent then start going down. But that's the way it is on the pink sheet market. The flavor of the day concept at work.
What I'm also noticing is the apparent ease at hacking into accounts. This tells me the concept could be inherently flawed. As more hackers break into accounts, it could very mean the end is near for this imaginary currency.
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