Facebook Stock not so different from Bitcoin?

I just read the NYT article from Rob Cox Facebook Stock not so different from Bitcoin.

It has many useful thought starters, although I do not know exactly what to do with it. Of course a vet sees a diseased organ where a chef sees a juicy dish and PETA sees an abused goose. So Rob Cox sees Bitcoin as a startup company.  He is probably not wrong, from his point of view and the final proof of his correctness will be in the payout of his financial bets.

I want to mull around more on some of his insights and will write on them on a later post.  I would like to point out however to the infectious nature of some disinformation and on how it becomes more insidious as it is digested  and diluted around.  Mr. Cox mentions (without specifics) an article from Technology review by David Yermak (commented by me here), which in turn refers to an NBER paper by the same author.

The extremely questionable statistics have made it now into mainstream journalism and become fact for the general public.

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