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RE: Steem Bounty - Is Bitcoin a Chaos Proxy? Share Your Thoughts and Get Rewarded
Chaos has some order :-)
With Bitcoin being a chaos proxy I believe the professor meant that a price increase would go hand in hand with more chaos/less confidence in the current (financial) world. As in, people fleeing into crypto because they lose trust in the status quo.
Maybe.
The whole 'fiat money is failing, flee to crypto-liberty!' thing is catchy and interesting for sure, but honestly, how many people do you know who are into crypto because that is their main motivation?
Personally, I think 90% of us are here because of some kind of FOMO. The rest is icing on the cake.
It's not a push away from the old financial world, but more of a pull exerted by crypto.
Good point, that is probably true. Currently the biggest push from the stock market is just plain fiat money I guess. And once people have the money there 'safe and sound', they might take a second step and see where to get a bit of profit when they allocate their money to that particular asset class.