Two characteristics of the Bitcoin trade are generally overlooked in the discussion: (1) Distributed networks tend to concentration over time, and (2) the price of Bitcoin can’t, by definition, be a bubble.

If a value bubble is definable as a wide and growing gap between the technicals of a traded…

Towards the end of last year, I published a series of short posts on what I saw as a newly emergent but potentially powerful trend in financial markets, in which sentiment seemed to overshadow analysis and fundamentals as a driving force. In light of recent eventsthat is, the…

When an economy is understood, up or down, it’s possible to plan, to concentrate resources, and to invest with reasonable confidence, even if results don’t follow as expected. Below is a market thesis for the year ahead, which may be different from those behind, in an economy that isn’t understood…

There are any number of ways to define, or interpret, sentiment. As with many definitions and interpretations, this can depend on context. For financial markets, which are multivariate and deep, the context and its drivers, the resulting definitions and interpretations, are like a mosaic — personal, social, geographical, political, historical…

Dan Ramsden

Investment and research in the networked tech economy. https://www.linkedin.com/in/danramsden

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