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This is essentially a crowd-sourced Ponzi scheme. But is it really so different from the market at large right now? It's more clearly identifiable in that there
by vannevar 6y ago
This is essentially a crowd-sourced Ponzi scheme. But is it really so different from the market at large right now? It's more clearly identifiable in that there are explicit signals in the message board. But the primary signal is probably the stock trajectory itself, just as it is with the broader market. People are buying mostly because people are buying, and the higher the price goes, the more sensitive it will become to perturbations, until something---maybe a tiny fluctuation in some obscure part of the market---causes it to collapse.