All while newly-minted “Bitcoin billionaires” have been steadily pulling money out of the system and converting it to real assets (houses, jets, ferraris, hookers, blow). How’d they get all that stuff out of Bitcoin, when they’d put essentially nothing into Bitcoin, and when Bitcoin is transparently not a value-creating enterprise? The greater fool theory; all that newfound wealth was simply funded by the real assets some later greedy, money-for-nothing sucker had dumped into the system.
All while newly-minted “Bitcoin billionaires” have been steadily pulling money out of the system and converting it to real assets (houses, jets, ferraris, hookers, blow). How’d they get all that stuff out of Bitcoin, when they’d put essentially nothing into Bitcoin, and when Bitcoin is transparently not a value-creating enterprise? The greater fool theory; all that newfound wealth was simply funded by the real assets some later greedy, money-for-nothing sucker had dumped into the system.