regulations put on certain ones
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Great post. There's a lot of sleight of hand done to pretend there's some foundation to bitcoins value and that its not just empty speculation on artificially scarce numbers "its immutable!" "it's greshams law!" "its a future reserve currency!", "it's a store of value!"
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2017 was driven by retail investors. 2020 is driven by institutions investing in a subset of cryptos (mostly
$BTC).Thanks. Twitter will use this to make your timeline better. UndoUndo
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Individual assets are always the most correlated during the first wave of a bubble as people like in without even pretending to perform analysis - pure FOMO. Sequential rounds, the more obvious scams find it harder to garner momentum.
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This is exactly what happened recently in energy, securitisation, real estate and tech bubbles this century. Very easy to sell shares in any tech company in 2000. People are a bit more discerning this time. Everybody wanted every crypto in 2017. Who is buying
$doge this time?
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You lost me at 2017
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Institutional investors won't buy dentacoin
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Virtually no one actually uses it as "payment", tho. Something like 99.99999999% of all BTC transactions are speculative trades, not for goods/services. Its "moneyness" has fallen over time, not increased. This is due both to technical limitations and retarded economics of BTC.
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