That is an opinion editorial by Maximilian Brichta, a doctoral scholar on the College of Southern California presently engaged on his dissertation, “Vernacular Economics: On The Participatory Tradition And Politics of Bitcoin”

It’s hardly a shock that bitcoin will get maligned as a “bubble,” a Ponzi scheme, a fad, a better idiot’s concept racket or the tulip phenomenon of the twenty first century. Coming off the heels of the 2008 World Monetary Disaster and the bursting of the dot-com bubble almost a decade prior, it’s wholesome to be skeptical of novel monetary merchandise. Bitcoin is usually filed in the identical class of bunk investments which have spun uncontrolled. It’s a good query to ask: How is bitcoin related or completely different from prior speculative booms? In every case, there are constellations of narratives across the new asset class that generate ecstatic consideration from buyers.

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