Superrationality And The Fact That Bitcoin Has Become A Religion

Superrationality

From Wikipedia, the free encyclopedia: In economics and game theory, a participant is considered to have superrationality (or renormalized rationality) if they have perfect rationality (& thus maximize their own utility) but assume that all other players are superrational too & that a superrational individual will always come up with the same strategy as any other superrational thinker when facing the same problem. It is the triumph of Reason over Dogma. When it comes to Blockchain and Bitcoin, Superrationality is very rare. In the case of Blockchain, a lot of "Blockchain consultants" are like a guy with a hammer where everything looks like a nail. ICOs are the same way -- they want to tokenize everything, not realizing that there is no one size fits all.  Not everything benefits from tokenization.  Some do not realize that blockchain has another intrinsic function that is highly overlooked. It can organize human activity in a way that it has never been organized before, either on a virtual or real plane. This area is highly unexploited (and profitable). And Bitcoin unfortunately has become a religion. Rabid believers buy and hold through amazing cyclical volatility, while superrationists buy low, sell high and repeat when necessary.

Bitcoin SPLAT !!!

Splat !!! That's the sound of my Bitcoin hitting floor after dropping.  Reminds me of the parachuter's song. Fell unto the runway like little blob of %^*& ! And it ain't gonna rise no more!  Dropped like flies on a winter window pane.  Dropped like Trump's approval rating. Dropped like 3rd period Latin in high school. Dropped like a hit of acid. Dropped like a kid at the pool. Dropped like a sack of bricks from a scaffold.  Dropped like a dead donkey. Dropped like the drawers of  a ______, dropped like Cleveland Brown's pass, dropped like Fox dropped Bill O'Reilly, dropped like a Bill Cosby victim, dropped like a lead balloon,  you get the picture.  You gotta love it when your "investment" drops by 42%. I have to laud that woman who was on LinkedIn (an investor) who said that she sold every bit of Bitcoin she had once it reached $17,500.  Buy low, sell high.  Right now, I feel for the folks who bought in the $14-17,000 range.  Here's hoping that like the ingestion of Viagra, it too will rise again.