hodlers don’t contribute to price discovery so market price is always biased towards what non-hodlers think it is
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it’s like if all employees keep silent when bullshit is thrown about letting it grow bc they’re all looking for other jobs. runaway delusions occurs because of INCREASING sobriety and pragmatism, not because of less.
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as long as there is diversity of delusion, it all mostly cancels each other out giving room for signal to carve a path through the noise. if however the delusion is organized, the signal stands out like a sore thumb and attacked. so it keeps silent.
