Riding the Peaks and Troughs
Jargon is the bane of financial markets, and dangerous when it comes to things like bitcoin.
A few months ago, I was having lunch with the head of a Chicago-based proprietary trading firm, talking about cryptocurrency. “You’ve heard about the Gartner hype curve, right?” he asked me, just as I’d taken a bite of my sandwich. I tried to mumble a reply without spraying him with turkey salad, which I assume he took to mean “no” in journalese. Not to be deterred, he drew it out on my notes for me, a handy addition to already hard-to-read shorthand.
“I think we’re here,” he said, pointing to
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