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The inverse can be a trap equally. "Could it be that I don't get the market and the technology is better than I value it to be? Yes! The market is right! I am d
by pureliquidhw 6y ago
The inverse can be a trap equally. "Could it be that I don't get the market and the technology is better than I value it to be? Yes! The market is right! I am dumber!"
If both can be true then you're left analyzing the fundamentals and making a call based on that.
Just like GME, Bitcoin requires a "greater fool" to pay more and more. It's only worth what people are willing to pay. Eventually you'll pay 100k for a string of characters that a specific network can process. Similar to Confederate American currency. Never worthless, but a curiosity/collectable to speculate with.
- seibelj 6y agoUnlike many (most?) on HN I do believe in the fundamental value proposition of BTC / crypto an have been tirelessly advocating for it throughout the bear market. It isn't a "greater fool" theory of investing for me and many other people. The single best investment over the past 12 years was Bitcoin. At peak price before the last bear of 20k, you still would have doubled your money (at least!) in 3 years. You can keep shouting ponzi but there is so much more to bitcoin than that.