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Spacex is just a continuation of the logic of crypto, in which something is valuable because some people think other people will pay more for it in the future, and *not* because it does useful things: johnquiggin.com/2018/02/09/b... 8/

https://johnquiggin.com/2018/02/09/bitcoin-kills-the-efficient-market-hypothesis/

Bitcoin kills the efficient market hypothesis (now with full article)

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I have a piece in the New York Times looking at the implications for the bitcoin bubble for economic theory and, in particular, for the (Strong) Efficient (Financial) Markets Hypothesis (EMH) which…

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https://johnquiggin.com/2018/02/09/bitcoin-kills-the-efficient-market-hypothesis/

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at://did:web:pluralistic.net/app.bsky.feed.post/3moixjo45b22d

at://did:web:pluralistic.net/app.bsky.feed.post/3moixjuarav2d

14h