Large numbers of the 'get rich quick' crowd that you speak of become poor after each crash. More will follow.
Each time this happens, I stand in awe of the brilliance of bitcoin - not so much the details of UTXOs or hash magic, but the choice of time base and halving intervals.
Its as if it were designed to be a FOMO feedback loop from the outset.
The fact that its still working after so many boom/bust cycles is amazing.
Each time this happens, I stand in awe of the brilliance of bitcoin - not so much the details of UTXOs or hash magic, but the choice of time base and halving intervals.
Its as if it were designed to be a FOMO feedback loop from the outset. The fact that its still working after so many boom/bust cycles is amazing.
[Edit] clarify reference to parent