/biz/ - Business & Finance

>>4365564
well, a normal understanding of economics. should have said no coiner
>>4365657
you can also spend a grand digging a hole
>>4365672
Crypto is essentially an elaborate Keynesian beauty contest if you want to bring game theory into it. doesn't help that it's value is 99% speculation.
>>4365679
this is a vast oversimplification, but say I offer you a bet: I flip a coin and you win $2 if it's heads, the value of that bet is $1. this is generally how speculation on normal markets works. eg. 50% chance a new drug will make it past the FDA and overtake some market sector or whatever.
in crypto there is no coin flip, you're buying at $1000 because you think someone else will buy at $2000 who in turn thinks someone else will buy at $4000 and so on.