Hype Waves¶
As the Bitcoin price takes a tumble, Heather R Morgan reminds us of her super-bearish article on the currency from February last year (with just a little gloating):
As #bitcoin plummets, I look back on the article I wrote a year ago about my predictions with a smirk. http://t.co/1lq0PpO4np #economics
— Heather R Morgan (@HeatherReyhan) January 14, 2015
It includes this valuable (abstract) hype-cycle chart:
Look carefully at what is happening in the final stages, though. I don’t think this chart is showing what Morgan takes it to. (AI, VR, Bitcoin — they all follow the same roller-coaster course, and they all get installed in the end.)
A Twitter comment worth noting:
I rarely see skepticism of #Bitcoin that is not more generally just skepticism of money. @Pierre_Rochard @prestonjbyrne @izakaminska
— Michael Goldstein (@Bitstein) January 14, 2015
ADDED: Jerry Brito is sensible on the topic.