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A comment on Bitcoin’s Rise: What If It Is Not A Bubble?.

Re:Bitcoin’s Rise: What If It Is Not A Bubble? by stcredzero on Wednesday April 03, 2013 @01:38PM (#5487622)
> Historically, the ability to short-sell a commodity has never been a requirement for efficient price discovery

Can someone clarify or refute this?

[ Parent | on HN ]
Re:Bitcoin’s Rise: What If It Is Not A Bubble? by rrrrtttt on Wednesday April 03, 2013 @02:23PM (#5487980)
Banning short selling removes the profit motive from price discovery. So maybe the price will eventually reach the equilibrium point, but it would be much slower.
[ Parent | on HN ]