News for hackers. Stuff that matters.

A comment on Bitcoin falls from $266. Parent comment

Re:Bitcoin falls from $266 by InclinedPlane on Wednesday April 10, 2013 @10:45PM (#5529662)
Define "soon". Anyone could have looked at the stock market in 1998 and said that it was sure to be going down soon but it took a few years for that to be the case. And anyone could have looked at the housing market even in 2003 and been waiting for it to go down "sometime soon", and been waiting half a decade for it.

Keynes may have been mistaken on a lot of things but he got one thing right: "The market can stay irrational longer than you can stay solvent."

[ Parent | on HN ]
Re:Bitcoin falls from $266 by brazzy on Thursday April 11, 2013 @04:18AM (#5530643)
> Define "soon"

My specific prediction less than a day before this crash was "At this rate, the crash is a single-digit number of days away".

The market can NOT stay irrational for long when an asset's price doubles every few days.

https://news.ycombinator.com/item?id=5517460

[ Parent | on HN ]
Re:Bitcoin falls from $266 by Evbn on Thursday April 11, 2013 @10:42PM (#5536274)
What was Keynes wrong about? (Keynes, not Keynsians)
[ Parent | on HN ]