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by toss1
507 days ago
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You just wrote an excellent description of the Greater Fool Theory. [0,1] The greater fool theory argues that prices go up because people are able to sell overpriced securities to a "greater fool," whether or not they are overvalued. That is, of course, until there are no greater fools left. [0] Crypto technology had potential, but those involved never resolved the critical usability and security issues, and just went straight for killing the golden goose — get the money now and nevermind whether it ever becomes anything. Those now pushing for a "US Strategic Bitcoin Reserve" are attempting to cash out making the rest of the US taxpayers the last Greater Fools, and leave them holding the steaming bag... [0] https://www.investopedia.com/terms/g/greaterfooltheory.asp [1] https://en.wikipedia.org/wiki/Greater_fool_theory |
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