Bitcoin And Biases: Agnotology, The Making And Unmaking Of Ignorance
Bitcoin is often subject to misinformation and misrepresentation which in turn creates misconceptions and biases against bitcoin.“Real knowledge is to know the extent of one’s ignorance.” - ConfuciusPrevious articles talked about Bitcoin and the cognitive biases that lead to misconceptions about Bitcoin.Backing up a bit, we can look at the knowledge, or ignorance that contributes to these misconceptions.It’s important to understand a bit more about ignorance so that we can understand the differences in some of the ignorant narratives around Bitcoin. Most importantly, we need to understand....
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Economist David Rosenberg has pleaded “ignorance on bitcoin” after saying that the cryptocurrency was in a massive bubble. He admitted that bitcoin has exceeded his expectation but he still prefers gold because he understands it a lot better than bitcoin. ‘Bitcoin Has Exceeded Almost Everybody’s Expectations’ David Rosenberg, chief economist and strategist at Rosenberg Research, admitted Thursday on Trading Nation that bitcoin had exceeded his expectation. His admission came after he said in December that bitcoin was “in a massive bubble.” The....
Yesterday afternoon, shortly before the European session closed out for the day in the more traditional asset markets, we published this piece outlining the likely action in the bitcoin price over the following 12 hours. Those 12 hours have now passed, and Thursday morning action is offering up two potentially conflicting biases. Close monitoring of the bitcoin price over the European morning session should serve to validate one of these biases, and could offer us an opportunity to draw a profit on a small scale, intraday level after lunch. So, with this said, what should we be looking for....
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