[adjkant]

It makes perfect ironical sense too, we should have seen this coming. Developers are some of the best armchair economists, or like to think they are. Add in the libertarian political strain with some VC/startup evaluations and you've got what we have now: an inflated decentralized currency with a market run by a centralized tech company with infighting of developers (miners) over very shaky economics who have formed into political factions over technical decisions to make even worse economic decisions, all while the people who know whats going on profit massively.

[thanatropism]

... and this is why I didn't get on the Bitcoin train when I was first fascinated by it in 2009. Too much RonPaulnomics in the community, a refusal to discuss Gresham's law and an unwavering optimism in that transaction costs melt away magically.

Then, me and my intellectualism lost big to the australopitheconomists-with-crypto.