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'Who believes in Bitcoin?’ Podcast from end 2017 /thread #UBS #economics # btc #bitcoin #bitcoincrash…
/2 Some of the investors are unsophisticated (inevitably), or desperate (people in hyperinflation economies). Financial regulation is designed to help such people. The crypto bubble came was faster than financial regulators could respond.
/3 The loss of confidence in experts (aided by media sensationalism) did not help. Cryptocurrencies may be mathematicaly elegant but are clearly designed by people who do not understand economics. The time of the cryptocrash could not be predicted, but it was inevitable
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