Mysteries of the Universe : It is backed by NOTHING. It is only the Greater Fool Theory in action.

Mysteries of the Universe
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It is backed by NOTHING. It is only the Greater Fool Theory in action.

Posted by DFM on May 25, 2025, 9:17 pm, in reply to "Re: Some people who used to condemn BITCOIN are now recommending it."

Legal currency is backed by its ability to cancel debt.

Bitcoin is backed only by the hope that other fools will buy it from the current fool holding it.

Some people who used to condemn BITCOIN are now recommending it. - Ken C March 15, 2021, 5:50 pm

Re: Some people who used to condemn BITCOIN are now recommending it. - Aiden Butler May 25, 2025, 9:05 pm
- It is backed by NOTHING. It is only the Greater Fool Theory in action. - DFM May 25, 2025, 9:17 pm
Read "Extraordinary Popular Delusions and the Madness of Crowds" - DFM March 18, 2021, 9:53 pm

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