19/12/17

How Bitcoin Could Crash the Markets



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How Bitcoin Could Crash the Markets
// Silver For The People

mauldineconomics.com / BY PATRICK WATSON / DECEMBER 19, 2017

Bitcoin mania is starting to look like a religion.

I say that because both bitcoin and religion involve faith in the unknowable. Some bitcoin investors believe the cryptocurrency, along with the underlying blockchain technology, will be a vital part of a new, decentralized, post-government society.

I can't prove that won't happen—nor can bitcoin evangelists prove it will. Like life after death, they can only say it's out there beyond the horizon.

If you believe in bitcoin paradise, fine. It's your business… until your faith puts everyone else at risk. As of this month, bitcoin is doing it.

Lenders & Leverage

Is bitcoin in a price bubble? I think so, as I said in last week's Why Bitcoin Can't Be Money article.

Asset bubbles usually only hurt the buyers who overpay, but that changes when you add leverage to the equation.

READ MORE

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