3 ms·
It's kind of funny to watch people trying to justify not having bought in earlier, with the logic that it's going to crash. Good old sunk costs fallacy. Yeah m
by lsparrish 15y ago
It's kind of funny to watch people trying to justify not having bought in earlier, with the logic that it's going to crash. Good old sunk costs fallacy.
Yeah maybe it'll crash one day. Maybe it'll go from $1000 clean down to $100, destroying much of the world economy (i.e. that part that was backed by speculation rather than real stuff to begin with) in the process.
- antiscam 15y agoThe entire value now is backed by speculation rather than "real stuff." The widely repeated "market capitalization" figure vastly overestimates the actual value given and obtainable for Bitcoins, and the price does not even closely reflect that value. The price is simply the result of what game-theorists call a "beauty-contest" game: it's based on baseless estimates of the value that others will assign to it in the future. Alone, that's just speculation. Backed by a massive marketing push that doesn't convey the right message to the public, it's functionally indistinguishable from a pyramid scheme.