The bitcoin bubble
People are buying Bitcoin because they expect other people to buy it from them at a higher price; the definition of the greater fool theory. Someone responded to me on Twitter by implying the fools were those who were not buying; everyone who did so had become a millionaire. But it is one thing to become a millionaire (the word was coined during the Mississippi bubble of the early 18th century) on paper, or in "bits"; it is another to be able to get into a bubble and out again with your wealth intact.
https://www.economist.com/blogs/buttonwood/2017/11/greater-fool-theory-0
UPVOTED by @phenombot
People are buying Bitcoin because they expect other people to buy it from them at a higher price;
YES. People are even dumping their altcoins rushing into bitcoin.
See the chart here: https://steemit.com/bitcoin/@hoball/btc-usd-is-now-in-bubble-mode-watch-out
I am staying out of BTC but if you are enjoying the bubble, please pay attention to any sudden drop!
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