Karl is a hard head. A smart hard head but a hard head nonetheless. Somehow, he never gave cryptocurrencies a fair chance. He is fully entitle to his opinion but I always found it a little bit disappointing that he never seem to consider this a pure and simple free market experiment that should prove whether it has its own legs to stand on.

Anyway, even if he is right, the market can stay irrational for longer than he is able to write the 'truth' about all those SCAM digital currencies.