I've seen a lot of bubbles since graduating college, surviving through the dot-com boom and bust, through the housing bubble and bust, the financial crisis, etc

I've seen a lot of bubbles since graduating college, surviving through the dot-com boom and bust, through the housing bubble and bust, the financial crisis, etc. In addition, I've read spent a lot of time reading about it, my favorite book being "Devil Take the Hindmost" by Edward Chancellor. It talks about all of the largest bubbles in the past few hundred years. Whenever people say "This time it's different", it never is. BTC is a bubble. But I don't admonish anyone for trying to make money off of it. I don't have the balls to, but that doesn't mean people shouldn't be allowed to speculate. The ones who will lose, however, are the ones that think this is for real, and have rationalized away their common sense into thinking this is a long-term investment and sustainable.