Modafinil, which is marketed as Provigil in the United States, was first approved by the FDA in 1998 for the treatment of narcolepsy, but since then it’s become better known as a nootropic, a “smart drug,” especially among entrepreneurs. More recently, it has attracted traders like Borden who don’t just need a pick-me-up to get through a deadline; they need to be on, without a break, for months, even years at a time.
via Modafinil Is Wall Street’s New Drug of Choice — New York Magazine.
It reminds me a lot of A Deepness in the Sky, minus the giant spider aliens.
There are a couple of reasons why the bubble is sure to burst. The first is just that it’s a bubble, and any chart which looks like the one at the top of this post is bound to end in tears at some point. But there’s a deeper reason, too — which is that bitcoins are an uncomfortable combination of commodity and currency. The commodity value of bitcoins is rooted in their currency value, but the more of a commodity they become, the less useful they are as a currency.
via The Bitcoin Bubble and the Future of Currency — Money & Banking — Medium.
Definitely one of the best articles I’ve read on Bitcoin. I think the idea of bitcoin as commodity actually makes a lot more sense, given that it’s an artificially constrained resource that’s “mined”.