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RE: Bitcoin is a pyramid scheme according to Howard Marks - counterpoints to the Value Investors view
I agree with you completely...Thousands of people make a living in the wall street world establishing values to companies based on all kinds of statistics...ratios...charts...blah...blah...blah...all trying to convince you something is worth x...we saw with the mortgage market meltdown how well that works...its all bull...its very simple...if a herd of people say they are willing tp pay x for something....then its worth x...if its no longer in favor...so much for the experts...crypto feels different...its the people's currency...if enough of us think its time for something different...Mr Marks will be lined up with the rest of us building that "pyramid"...
Correct, Wall Street people are paid to suck in investors, not teach courses on ethics or do God's work. Look at how great a job they did getting investors to invest in Tesla and Snapchat. No profits yet investors climbed aboard, profits be damned!