Original URL:
http://www.theregister.co.uk/2013/04/15/bitcoin_bubble/
Lessons from tulip-hoarding Dutch speculators of 1634  By Tim
Worstall  Posted in Financial News, 15th April 2013 13:04 GMT
The Bitcoin economy is a bubble and it'll all end in tears.
Bitcoin is the greatest thing since sliced bread and will change
the world forever. What might surprise some of you is that
there's no contradiction between these two statements.  Whether
the internet currency is in a bubble or not, and whether that
bubble bursts and causes tears all around, is almost entirely
unrelated to whether it's a useful thing to have around, whether
it will indeed change the world and even whether it will
eventually be used by real people for anything more than online
trading, speculation and money laundering or to pay for more
than just drugs, other illegal activities and the odd pizza.
Indeed, economists often point to world-changing technologies as
being introduced along with that same mess of screams, blood and
shite that accom