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Greater fool theory in action. Let's not take a moment to step back and think about this, because hey it's going up! If I'm positive it's a pyramid scam, why
by chairmanmow 9y ago
Greater fool theory in action. Let's not take a moment to step back and think about this, because hey it's going up!
If I'm positive it's a pyramid scam, why should I put my money into it?
- JoeAltmaier 9y agoBecause you can get out soon, before the crash?
- chairmanmow 9y agoNot a bad reply. Sure I can pump some $ into it in the short but who's to say that capital injection wasn't the straw that made the black market assassin cash out and convert it into something has proven value, gold, etc. Likely what's happened/happening is money is being sucked out of our economy into a shadier one. Silly American buys some bitcoin with their credit card a Russian who spun up a miner buys some gold with their credit card debt. Silly people see bitcoin goes up, think equity's been created there. It's debt.
- rhino369 9y agoThat is classic great fool theory thinking. If it crashes, you might not be able to get it out in time to make a profit. Remember, you'll need some idiot to buy your shares if you want to cash out.