The document discusses bitcoin and whether its high price constitutes a bubble. It provides background on historical bubbles like the tulip bubble and South Sea stock bubble. While bitcoin is currently limited in supply and its price is determined by supply and demand, supplementary articles argue that bitcoin is in a bubble, its supply is not truly limited as other cryptocurrencies can emerge, and its price fluctuations prevent it from being a stable currency. The conclusion maintains that this bubble is no different from historical ones and that technological developments must be considered when evaluating bitcoin's price.
3. BUBBLES IN HISTORY SOUTH SEA STOCK
I can calculate the
motion of heavily
bodies, but not the
madness of people.
~ Isaac Newton
Newton lost 20,000 贈
in south sea stock
bubble
7. MAIN ARTICLE
Main article (Fortune Contributor)
-Bitcoin is limited in supply
-Supply and Demand determines the price
Picasso Painting: Garcon A La Pipe (1905)
Price: $104 Million in May 2004
8. SUPPLEMENTARY ARTICLES
Bitcoin is defo in a
bubble
Bitcoin is not limited in
supply: there can be
many cryptocurrencies
It can not even be a
currency because of
high fluctuations
9. CONCLUSION
Bubbles: This time is not different, a bubble is a bubble
We should consider the effects of technological development
