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So if it didn't exist how can you be so sure about dismissing it? It literally is a new paradigm.

EDIT: nice to see all the luddites downvoting me. Guess the meme is true -- we still are early.



Investment fraud is not a new paradigm. Selling bags of nothing is not a new paradigm. Goes all the way back to the South Sea Company in 1711 [1].

I recommend reading Extraordinary Popular Delusions and the Madness of Crowds published originally in 1841 [2].

[1] https://en.wikipedia.org/wiki/South_Sea_Company

[2] https://www.amazon.com/Extraordinary-Popular-Delusions-Madne...


Extraordinary Popular Conclusions is also available for free from Gutenberg: https://www.gutenberg.org/ebooks/24518


I don't see it usually mentioned when people cite the South Sea Company, but their principal actual business was the slave trade.

There is something about a useless or immoral business that often excites greed beyond what anything beneficial to society can.


I'm not. Bitcoin could still MOON. I'm just saying you shouldn't be so sure either way with so much uncertainty.




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