I shorted Facebook on its debut last year amid some techy mates ridiculing me and I would have liked to have shorted this. Some lover of bitcoin told me on this forum last week that I didn't understand it and I couldn't short it. Well, I understand it enough to know that it can be copied and it is accountable to nothing.
So the bubble has popped. Watch them all rush for the exits. At least Facebook has some substance. Bitcoin is a puerile example of the follies of capitalism - making nothing worth something out of the belief it will be worth more tomorrow. Which is nothing like fiat currency that is accountable and everyone knows becomes worth less over time. Future historians will be laughing at the bitcoin concept and questioning the intellect of this generation.
