What can bitcoin learn from the failure of 'global' language Esperanto?

What can bitcoin learn from the failure of 'global' language Esperanto?

It's said that making economic policy is like trying to steer a car looking only in the rear-view mirror. Unsurprisingly, this can lead to some pretty spectacular crashes. It's this trickiness of trying to predict the future relying on not-strictly-comparable historical precedents that makes economic forecasting such an inexact science. But if it's difficult to predict how the market's going to behave with stacks of historical data to help, how much harder is it when there's no precedent at all? That's the situation that faced investors during the dotcom boom in the late nineties and is....


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Quotes

There was plenty of ugliness to be found in the markets this year. Ukranian and Venezuelan sovereign debt. High-yield, energy-related corporate bonds. Argentine pesos. Russian rubles. Greek stocks. But none of these investments has been as atrociously awful as Bitcoin, the heavily hyped crypto-currency that stormed onto the financial scene in the last few years, threatening to disrupt the cornerstone of global finance that is fiat currency.

Matt Phillips, Writer for Quartz, former writer in Wall Street Journal