Member-only story
Bitcoin and Ethereum Are Dead (And Their Honest Investors Know It)
The $1+ trillion concept is brilliant, but it won’t end well
Update: Comments insulting my (admittedly limited) intelligence while simultaneously claiming Bitcoin isn’t a Ponzi scheme will automatically be deleted unless you also disclose your BTC+ETH holdings.
Update #2: After nearly 2,000 story responses in <24 hours, I’ve published a follow-up piece entitled People Aren’t Actually “Investing” in Cryptocurrency, They’re Just Gambling and included some of the nastiest comments. :-)
A few weeks ago, I wrote an article suggesting that people are treating cryptocurrency like a Ponzi scheme. That earlier speculators are doing their darndest to convince the world to buy in so they can cash out.
You should’ve seen the nasty messages I received from bitboys.
More negative reaction than all my other articles combined.
And that’s okay.
They’re living with sunk cost fallacy…
Irrational investment bias…
Escalation of commitment…
Modern Dutch tulip mania.
It doesn’t mean I’m wrong.
