Tuesday, November 19, 2013

Bitcoin Smashes Through $900 Making It Time To Remember Mississippi

compared bitcoin to the tulip bulb mania of the 1600's, when the artificial currency reached $450. Since it touched the $900 mark just a few hours later during last night's trading (see the live bitcoin bubble price tracker), we must reach back in history again to find another speculative mania we can use to understand what we are currently witnessing.

The following video provides an animated review of what took place during the Mississippi bubble in the early 1700's. As human psychology has changed little over the centuries, meaning that speculative bubbles will always exist, it is important to review the past to understand the why around the irrationality of the future.


2 comments:

  1. bitcoins may be in a bubble but I think there may be long term value in a decentralized currency. Any currency will come to an end. But at least the average person wont get completely screwed by inflation with bitcoins p2p network.

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  2. About to happen again. here are the facts The dollar bubble about to end http://youtu.be/0cgqGe4Y4ik

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