Hype Waves

As the Bitcoin price takes a tumble, Heather R Morgan reminds us of her super-bearish article on the currency from February last year (with just a little gloating):

It includes this valuable (abstract) hype-cycle chart:

hype-cycle

Look carefully at what is happening in the final stages, though. I don’t think this chart is showing what Morgan takes it to. (AI, VR, Bitcoin — they all follow the same roller-coaster course, and they all get installed in the end.)

A Twitter comment worth noting:

ADDED: Jerry Brito is sensible on the topic.

One thought on “Hype Waves

  1. Interesting that the graph comes right after fraud. This is currently a major factor: namely so many people have been scammed during their time adopting Bitcoin that they tend to say screw it. The most amazing posts on Bitcointalk are those wherein websites literally name themselves ‘bitponzi’ or ‘magicponzi’ and people pay in hoping to opt out in time. It’s mindblowing. And after almost every major Bitcoin scam we’ve seen nothing close to refunds or legal issues. The only major one I know of is the tax-avoider in the States. I doubt a single scammer from BTCjam has ever been caught.

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