The existing cryptomarket is run by unsophisticated noobs. It's super early in the game. When trading and investing volumes are dominated by smart money in the coming years, things will fall where they have to fall.
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Replying to @MustStopMurad @davidgerard and
You seem rather disdainful of free markets. The essence of free markets is that anyone can take part as an equal, whether smart or unsophisticated. If a "smart" cartel dominates a market, it isn't free.
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Replying to @Frances_Coppola @davidgerard and
Free Markets is about discovering correct prices for things. It’s not about cartels, it’s about more intelligent individuals making more correct bets about the future than others.
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Replying to @MustStopMurad @davidgerard and
Nope, a free market is not a clearing house for intelligence. Intelligent people are not necessarily any better at foreseeing the figure than dumb ones.
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Replying to @Frances_Coppola @davidgerard and
Intelligent people are better at picking a better form of money of the future. They are better at predictions.
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Replying to @MustStopMurad @davidgerard and
Stock picker's fantasy. "I'm more intelligent than average,.so I'm better at picking future corporate stars..." while missing benchmarks and underperforming relative to much less "intelligent" passive investors.
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Replying to @Frances_Coppola @davidgerard and
These aren’t stocks. These are candidates for the “Gold” of the future.
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Replying to @MustStopMurad @davidgerard and
Equivalent. You are still trying to judge which will outperform the others.
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Replying to @Frances_Coppola @davidgerard and
If one is alreay better than others today, it will likely outperform others over time as more and more people realize this.
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Replying to @MustStopMurad @davidgerard and
You don't get to decide what is "better". The market does. And you don't know what "better" means to others even now, let alone in the future.
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So far the Market thinks Bitcoin is the best.
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