I’m interested in the possibility but it doesn’t have enough of a history for me to be able to think about it usefully. What is the broader reference class I should be looking at, and what is the evidence on historical returns for that class?
If you believe the doubters, like buying tulips at the peak of the bubble.
If you believe the boosters, like buying gold before it was used as a currency.
The issue is that there simply isn’t past evidence. Bitcoin’s only past evidence is itself, which seems to be periods of extreme rises and extreme crashes but so far a hugely upward trend.
I’m interested in the possibility but it doesn’t have enough of a history for me to be able to think about it usefully. What is the broader reference class I should be looking at, and what is the evidence on historical returns for that class?
If you believe the doubters, like buying tulips at the peak of the bubble.
If you believe the boosters, like buying gold before it was used as a currency.
The issue is that there simply isn’t past evidence. Bitcoin’s only past evidence is itself, which seems to be periods of extreme rises and extreme crashes but so far a hugely upward trend.