Quote from: r0ach on June 03, 2016, 02:49:03 AM

The way I've looked at it is, you use your judgement to find the thing with the best fundamentals and you will be rewarded for it.

Yes, that explains the altcoin scene exceptionally well. Not!

In the end that will likely work, and yes there is a very good chance that turns out to be Bitcoin, but the level of activity you see in altcoin trading isn't consistent with other people pursuing that approach at all.

BTW, I have rarely if ever bought a coin for the purpose of flipping it. It may have happened (if I happen to see someone trying to give me money I will often allow them to do so), but I don't remember it. No doubt plenty do do that, which is exactly the gambling game you say is is 'smooth propaganda', but actually explains the observed behavior a lot better than your theory.

And as I've said before, I own more Bitcoin than alts and more fiat-based and hard assets than Bitcoin, which more or less reflects my assessment of their relative probabilities of being worth anything in the future.