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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.

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