Dr. Daniel Crosby

It's not that these people are just getting bullied into making the wrong choice.

They're physically seeing it incorrectly because everyone else saw it incorrectly.

So what's the takeaway of all this rambling?

The takeaway of all this rambling is that money is a shared fiction.

Money is something that we all agree on.

And so it doesn't obey the rules of physics.

It doesn't obey natural laws.

It obeys laws of psychology.

And if enough people around us are believing in something, it can warp sort of the true value or the perception of that in our eyes.

Yeah, you know, and Nassim Taleb talks about the Lindy effect, right?

Which is effectively the longer something has been around, the longer it's likely to be around, right?

So something like the Iliad or the Odyssey, right?

In terms of literature, it's been around for a long time.

It'll probably be around a long time from now.

Whereas today's bestseller, you probably couldn't save the same thing about.

So what's interesting about cryptocurrency is the longer it hangs around...

sort of the longer it's likely to hang around, the more Lindy it becomes.

And so, whereas I think early on in, in cryptocurrencies history, you could have made a case for it being, you know, sort of, um, sort of risky.

I think the longer that it sticks around, um, the more permanent it becomes.

Yeah, so I'd keep those three E's top of mind, right?