RE: Shiba Inu Coin is all the Rage Now and I Hated it So much !
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Would you say the crypto market is the same as the stock market? Or different? I'm quite interested in your thoughts on that
Most of us treat it the same, but I think that's more due to a kind of cognitive inertia: our perception of new ideas is coloured by what came before. Generally speaking. There could be a better way to describe what I'm thinking of, but yeah
It's a market, at the end of the day. It would be nice if fundamentals were always the driving force
People gonna people
And people are human. Imperfect and fallible
Optics trump real value, in the main
It sucks
Value is not required to generate profit, and profit is what traders are going for
Hence, the shiniest poop coin mooneth
Am I adding any value to the conversation?
Mah man, that's insightful. I would treat both market as the same because in the end for those who in the long term will look at basically the same fundamentals anyway. That's why I really despise people with influence taking advantage of this market for their gains. Ahem, Elon Musk..
Yeah... Elon. What a bastard. I thought he was decent, if out of touch, in the way someone with immense wealth will inevitably become
That all went out the window though, when he came out with that BS about BTC mining being environmentally unfriendly, as if he didn't know that while he was accumulating. And so, the market crashed. Seeing all that unfold made it blatantly clear; he was manipulating the market for his personal gain
On the Elon case, I partly blame the entire crypto market investor and traders to follow someone like Elon to decide on which coin to invest. Like sheep who will follow anyone with the cane even until off a cliff. If we want this market to grow and mature into more legit investment assets, we will need to move beyond following people like Elon blindly.