err... how Bitcoin works, or how the speculative bubble around cryptocurrencies circa 2019-2021 worked?
Bitcoin is actually kind of useful for some niche use cases - namely illegal transactions, like buying drugs online (Silk Road, for example), and occasionally for international money transfers - my French father once paid an Argentinian architect in Bitcoin, because it was the easiest way to transfer the money due to details about money transfer between those countries which I am completely unaware of.
The Bitcoin bubble, like all bubbles since the Dutch tulip bubble in the 1600s, did follow a somewhat similar "well everyone things this thing is much more valuable than it is worth, if I buy some now the price will keep going on and I can dump it on some sucker" path, however.
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err... how Bitcoin works, or how the speculative bubble around cryptocurrencies circa 2019-2021 worked?
Bitcoin is actually kind of useful for some niche use cases - namely illegal transactions, like buying drugs online (Silk Road, for example), and occasionally for international money transfers - my French father once paid an Argentinian architect in Bitcoin, because it was the easiest way to transfer the money due to details about money transfer between those countries which I am completely unaware of.
The Bitcoin bubble, like all bubbles since the Dutch tulip bubble in the 1600s, did follow a somewhat similar "well everyone things this thing is much more valuable than it is worth, if I buy some now the price will keep going on and I can dump it on some sucker" path, however.