[ExI] Bitcoin

[Gordon]

Eugen Leitl <eugen at leitl.org> wrote:


> You're describing investment schools of thought. I was talking about how dumb 

> money actually operates. These features are timeless.

Many economists would disagree that the concept of "dumb money" has any meaning. According to some, the markets always behave rationally and/or efficiently, as per the Efficient Market Hypothesis. I thought Mirco wanted to argue along those lines, but he also recognized in his last post that "selfishness" (greed) is a factor. 

Gordon
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