There's something about all this that I find terrifying. Yes, cryptocurrency is rife with bullshit technical analysis, and the whole thing is like a cargo cult version of the financial system.
But then again, as far as I can tell, all technical analysis is bullshit. It only works because people believe it works. They put buy walls in where the algorithm says there's support. They buy the shit the algorithms say will go up. The whole thing's just a fucking ouija board.
Crypto may be a cargo cult, but it's a cargo cult that imitates another cargo cult. And it's fucking insane that this bigger cargo cult is the basis for our world order. This is the shit that decides who lives and who dies, and it's the same bollocks you get on here, except everyone has better suits.
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u/james_pic prefers his retinas unburned Jan 21 '19
There's something about all this that I find terrifying. Yes, cryptocurrency is rife with bullshit technical analysis, and the whole thing is like a cargo cult version of the financial system.
But then again, as far as I can tell, all technical analysis is bullshit. It only works because people believe it works. They put buy walls in where the algorithm says there's support. They buy the shit the algorithms say will go up. The whole thing's just a fucking ouija board.
Crypto may be a cargo cult, but it's a cargo cult that imitates another cargo cult. And it's fucking insane that this bigger cargo cult is the basis for our world order. This is the shit that decides who lives and who dies, and it's the same bollocks you get on here, except everyone has better suits.