For those of you who are smart enough to see through the ponzi scheme, but are still thinking of participating in the ICO just so you can "flip" the coin when it goes up in value, I leave you the following theory.
The Greater Fool Theory
The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants. A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price. In other words, one may pay a price that seems "foolishly" high because one may rationally have the expectation that the item can be resold to a "greater fool" later.
In the stock market, the greater fool theory applies when many investors make a questionable investment, with the assumption that they will be able to sell it later to "a greater fool". In other words, they buy something not because they believe that it is worth the price, but rather because they believe that they will be able to sell it to someone else at an even higher price.
TLDR
There is no greater fool. You are the fool if you buy into this ICO. Don't buy in unless you want to be holding heavy bags.
Haha don't want to be the fool looking for a greater fool. Good post.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
ethconnect is the best ICO coming onboard... dont miss out! 3rd nov is the dday
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think I rather burn my money.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you!
So many idiots these days looking to invest in Ponzis, and they don't even think twice.
Complete and total idiots.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit