About this episode
Value is what you assign to something, not an analyst. What others assign to bitcoin are none of my business. What others assign to speculation in general is irrelevant.
There is no value per se in bitcoin anymore than there is in corn futures.
Bubbles are what speculators (like me) pray for. Professionals know themselves and know how to express risk in a manner that is best for them (compatibility).
Traders who have a systematized set of rules love to trade bubbles because although we cannot impose our will on an instrument, we can take advantage of the amateurs and day traders who don't know anything about managing risk.
Trading is a voluntary action. Winning and losing is up to you.
Buy the time the bubble pops, I'll be long gone...
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