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The thing with the greater fool is: they get the fuck out when the investment goes cold. They're not interested in calm, orderly profit, they're interested in a
by spdustin 10y ago
The thing with the greater fool is: they get the fuck out when the investment goes cold. They're not interested in calm, orderly profit, they're interested in action. By definition, they're irrational.
Leaving aside the fact that (what I call) the semi-intrinsic value of BTC is designed to increase over time, when the end is in sight either because of security snafus or actual source exhaustion, the greater fool will go elsewhere, leaving the lesser fools holding the bag.
Nobody seems to be handling BTC correctly, and nobody seems to agree on the correct way to handle it. That leads me to my own thesis: if a currency is so convoluted to handle that consensus can't be reached on proper handling of escrow funds or deposit balances, it's not a currency, it's just a long-running argument.