[tjs8rj]

My understanding on the crypto market drivers here is:

1. It’s 100% a “gamble” totally driven by momentum in almost all these coin cases (the value is convincing someone else there is value). All self-aware crypto investors know this.

2. When the monetary value is convincing others there is monetary value, no one holding bags will call it a gamble. They’ll call it an investment, a hedge, the arguments change, “diamond hands, everyone hold together” is the rallying cry because the only monetary value is convincing others to believe the value. GME is a similar scenario ie overvalued based on its fundamentals and the spread with its book value and price is purely “convincing others to hold and push it up”.

It’s iterations of Ponzi schemes all the way down.

I still own crypto (I’m betting the Ponzi scheme keeps rolling and I want the upside of that too)