jimmysong on Nostr: How do altcoiners get away with being wrong so often for so long? Because the people ...

How do altcoiners get away with being wrong so often for so long? Because the people that follow desperately want them to be right. And in some way, think that they can make it right by getting enough people to believe.

That's how Keynesian Beauty Contests work. Money, however, is not a Keynesian Beauty Contest and Keynesian Beauty Contests only work in an economy flooded with money printing.