Bitcoin hits all-time high above $125,000

[lostincalifornia]

36. The greater fool theory.

The dollar is backed by the full faith and credit of the U.S. government. Crypto is backed by speculators and con men. It is called the greater fool theory, which is someone profiting from an overvalued asset, by selling it to a "greater fool" who is willing to pay an even higher price, even though the asset has no fundamental value.

What will piss me off to no end is if the bottom falls out of bit coin or any of the crypto currencies, and the government decides to bail them out.