Crypto and systemic bubbles
The most spectacular bubbles depend on both an expanding and a squeezing effect. The former attracts participants by taking advantage of people’s nearsightedness and greed, but the latter forces out dissenters and opponents. The former is usually well understood, but the latter is not. It is a systemic effect. In order for the squeezing to become effective, participants must be placed in a system that has a large effect on their survival. The effect can… Read More »Crypto and systemic bubbles