"... a bad Nash equilibrium where the incentives are to keep the vicious cycle going as long as possible because the first to leave the cycle are disadvantaged.

"... a bad Nash equilibrium where the incentives are to keep the vicious cycle going as long as possible because the first to leave the cycle are disadvantaged." This is why Bitcoin is compared to a Ponzi-MLM scheme - and if the game doesn't continue then the latest adopters, who haven't sold or made any profit, are then left "holding the bag." This matching pattern is denied by pretty much every person in the army/mob of HODLers: - Bill Gates recently said only someone as rich as Elon should be willing to risk buying Bitcoin; Elon being the richest person on the planet - Elon Musk even recently tweeted that "Bitcoin is almost as much bs as fiat money", so even he doesn't believe it's the best or ideal final solution - I can't find the article, however within the last few weeks, an article by a senior partner at an international investment firm wrote about his thoughts on Bitcoin, and in the first few paragraphs he highlighted how people with a counter-narrative are hiding/afraid to speak out against it [because of the mob].