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I think one thing people, especially on HN, need to remind themselves of is the price isn’t determined by what _you_ think, it’s determined by what _everyone else_ thinks.



This is the best comment. People here know the "value" but the market determines the "price".

I understand why people see the value proposition here and think these things are over-priced, its because people "trading" do not really have the depth and they are playing the market psychology game. For something new, this is more akin to Poker, at this time too many people are playing the people. The question is when the river card show up, who will remain standing.


The river card?


Last card in Texas Hold'em, after a final round of betting, if two players have not folded the winner is determined at showdown.


The most apt description I've heard for cryptocurrency markets is that it's a Keynesian beauty contest for blank drawings.




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