The Crypto-Con, Reprise 0
Another psychologist takes a look at crypto-currency. I find Nigel Barber’s take particularly interesting–he seems to think it may be an “investment mania.” Here’s a bit (emphasis added):
Like the cryptocurrencies of today, buyers had little knowledge of the true value of the investment and were guided mainly by the fact that the market price was rising.
That sort of irrationality leads to some bizarre equivalences. At the height of the tulip mania in Holland from 1636 to 1637, a rare type of bulb was used to purchase a home. In the dot-com boom of 1999, companies with revenues smaller than a corner store had market valuations of billions of dollars.
Follow the link for the rest, especially if you are thinking about “mining” some crypto con.