My friend sent me this post he made yesterday:
"Many of the people I have spoken to about bitcoins recently have said things I found quite disturbing. I had a friend beg me to sell him bitcoins. I had another friend tell me that she completely agreed with me that litecoins are crap, but asked if she should buy some anyway just to make a quick buck. I've seen people trying to get bitcoins who really haven't the slightest idea about them. I know this is anecdotal evidence, but I think they reflect the mood right now. These are exactly the kinds of things you would expect at the very height of a mania.
Right now, either you feel extatically happy about buying bitcoins a few weeks ago or desperate and tortured about having missed the opportunity. Either way, you're in real danger of being overcome by emotions and making bad decisions. Really please try to calm down and think rationally. I don't think there is any real evidence right now that bitcoins are about to take over the world. They've made enormous strides recently, but the bitcoin economy certainly has not grown enough to justify a 10-fold increase in price over the past two months."
- I agree with him in that many people are manic right now and are wanting to jump into bitcoin without really understanding it. It takes time to understand bitcoin. At the same time I see those who are manic, while ignorant, as relying on people that have done "their home work" for their answers.
In a sense, This is why I'm fond the skepticism here at the D.P. - Let's keep it critical... and I hope it stays that way.
"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees
Want DP delivered to your inbox daily? Subscribe here: