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veen · 2571 days ago · link · · parent · post: "This is what you have been waiting for, right? Rich people to lose money?"
Do you agree with his conclusion about Bitcoin? That by having futures listed it has jumped the shark? It seems a baseless assumption to me, but then again what do I know.
The entire investing class is dismissively negative on cryptocurrency. It's like Irving Fisher saying "stocks have reached a permanently high plateau" on October 16, 1929. The Dow dropped 11% on the 24th, another 13 on the 28th and another 12 on the 29th. Cryptocurrency is outside their experience and as a class, they are not an imaginative bunch. Also keep in mind that anybody who uses algebra is a "quant" and their arcane use of math makes them untrustworthy warlocks. 