Oil in the early 1800s exhibited the same boom-bust volatility, speculation, and price discovery chaos that crypto exhibits today—with villages constructed and abandoned within months as supply shocks (gushers) hit the market, making Bitcoin's long-term trajectory analogous to oil's multi-decade rise from early speculation to foundational commodity
causalpending
Speaker
Mike IppolitoEvidence Quote
“if you go back and listen to his description of the early days of the oil industry it was exactly like crypto is today boom bust very shortterm very speculative there these description of entire you know Villages basically being constructed in this span of a couple months you know everyone's gambling speculating all this stuff and then there'll be news of like a gusher a bunch of Supply coming online prices will tank”
Created: 8/12/2026, 10:20:03 PM
My Notes
Loading notes...