I think it crashed similarly in 2017, but it’s become way more mainstream now. I would assume with its higher profile, more people will realize it’s a Ponzi scheme and it’s chance of recovery becomes slimmer each crash.
Also if you’re currency loses 80% of its value every few years, why would anyone want that?
I assume for the same reason anyone would ever buy any crypto - in hopes of large rates of growth. That’s all it ever was anyway, no? If you continue to buy at low points and sell at high points the crashes would even become desirable to maintain the rate of profit even when the highs in absolute term don’t reach as high?
Again, I haven’t really looked into this stuff since like 2018, but that’s what I figured back then. If this is something different - and media is making it sound like it is - I don’t understand how especially the relevance of the stablecoin stuff.
I think it crashed similarly in 2017, but it’s become way more mainstream now. I would assume with its higher profile, more people will realize it’s a Ponzi scheme and it’s chance of recovery becomes slimmer each crash.
Also if you’re currency loses 80% of its value every few years, why would anyone want that?
I assume for the same reason anyone would ever buy any crypto - in hopes of large rates of growth. That’s all it ever was anyway, no? If you continue to buy at low points and sell at high points the crashes would even become desirable to maintain the rate of profit even when the highs in absolute term don’t reach as high?
Again, I haven’t really looked into this stuff since like 2018, but that’s what I figured back then. If this is something different - and media is making it sound like it is - I don’t understand how especially the relevance of the stablecoin stuff.
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Isn’t “I made money and here is how you can make money too” (one of) the base(s) of any ponzi scheme?
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