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> The subjective theory of value is an economic theory which advances the idea that the value of a good is not determined by any inherent property, nor by the a
by McLaren_Ferrari 4y ago
> The subjective theory of value is an economic theory which advances the idea that the value of a good is not determined by any inherent property, nor by the amount of labor necessary to produce it, but instead is determined by the importance an acting individual places on a good for the achievement of his desired ends.
In short: "Stonk_price_bruh!"
Elvis-mania, Bealte-mania, Backstreet boys-mania...they all end at some point.
Positive strong emotions are strong but they burn fast, or can even turn into negative strong emotions.
Unlike Elvis nobody became hysterical or collapsed to the ground when they saw a young Warren Buffett, people to this day think he's old, boring, doesn't get it.
Then they look at the scoreboard. 40 years in the Forbes 400, and not only that, in the top 5.
Let's see where Satoshi, Buterin , Brian Armstrong, Binance guy are in 40 years.
The one who is best positioned financially to be still there is Elon but he's inherently unstable mentally.
- aww_dang 4y agoWhich if I am reading your comment correctly, would be better described as a criticism of bubbles. A bubble is distinct from a scam or ponzi. It is also unrelated to the quote I posted. Individuals who wish to transact in cryptocurrency or any other asset you do not value are not involved in a scam, simply because you do not value that asset. They have their own ends which we may not appreciate.
- McLaren_Ferrari 4y agoBubbles and scams both thrive on delusion and irrational exhuberance. They are very similar. The only difference is that with bubbles everybody buys into the delusion, whereas with scams at least those at the top are sane enough not to believe their own hype. > Individuals who wish to transact in cryptocurrency Excepts nobody transacts, everybody trades for capital appreciation purposes