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kleinbl00  ·  2296 days ago  ·  link  ·    ·  parent  ·  post: Musings on Cryptocurrency - an invitation to ruminate

Your communications aren't intended for self-assured speculators that wish to make money by out-thinking the crowd. You're right - you can't make people think about financial theory. I'm not saying everybody needs to eat their vegetables. I'm arguing that a horrifying fraction of those in the crypto space are perfectly okay with their ignorance, and that ignorance leads to distortions.

I can point to the reasons valuations are high in the stock market. Institutions have targets to meet and with no good options, they have to make it work with the bad. But crypto is pure speculation done on exchanges with no regulation or guarantee so that's all elective greed.

I know how badly you want to gutterball this discussion into one or the other of your threadbare, time-worn "all humans are bad" tracks but it's simply not the case.