Instead, it became a playground for speculation and no doubt a medium for the murkier underworld to wash its dirty laundry. Instead of sideswiping government and institutions, we get futures contracts from the CBOE/ CME, regulated by the SEC, it couldn’t get more institutionalised. At the   return to the mean and thus the next step.


When Satoshi Nakamoto, the brains behind the Bitcoin published his white paper of a ‘peer to peer electronic cash system’ back in 2008 this is perhaps not the journey he had in mind. The darling has unintentionally become the departed, exiting stage left back into preserve of the  the many.


Figure 1: Main stages in a bubble


Figure 3: Main stages in a bubble





  


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 


                                                                        


                       


 


 Figure 2





17 | ADMISI - The Ghost In The Machine | March/April 2018


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