Date: March 20th, 2018 10:59 AM
Author: Seedy Stage
this is the kind of half baked idea that sounded smart in your head but seriously needed more time in the oven.
Bubbles are as much psychological phenomena as they are economic ones. So as a first cut it’s insanely difficult to resist bubbles as they happen or not find reasons to support them from a valuation perspective
Also, is the rational response to a bubble to avoid altogether? I saw a Citi research report that said something insane like ~50% of the returns during recent bubbles came during the last 10% before they pop. so there’s lots of value to be had if you’re not risk averse. Fortress and Bill Miller, among others, bought a fuckton of bitcoin despite admitting freely that they think its in a bubble
Also, the tech bubble and the crypto bubble are only analogous in some superficial ways. not sure why living through the tech bubble should be good prep for understanding crypto? my dad lost a shit ton of money on AOL and curses himself for not going HAM on amazon, netflix, twitter, facebook and google stock precisely because of his experience.
overall, xoxo does horribly when it veers away from retarded race and “i don’t get laid enough so fuck these bitches” threading and tries its hand at business
(http://www.autoadmit.com/thread.php?thread_id=3923618&forum_id=2#35644516)