How can Bitcoin stabilize if it's a Keynesian Beauty Contest?
tonysheng.substack.com
A popular bull case for Bitcoin is “the bubble theory of money” where: The asset rises in price due to speculation and forms a bubble The bubble doesn’t fully “pop” as once the rate of new buyers slows down, the volatility decreases and the price stabilizes
How can Bitcoin stabilize if it's a Keynesian Beauty Contest?
How can Bitcoin stabilize if it's a Keynesian…
How can Bitcoin stabilize if it's a Keynesian Beauty Contest?
A popular bull case for Bitcoin is “the bubble theory of money” where: The asset rises in price due to speculation and forms a bubble The bubble doesn’t fully “pop” as once the rate of new buyers slows down, the volatility decreases and the price stabilizes