this post was submitted on 03 Feb 2024
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Honestly eth just made more progress between built in smart contracts and proof of stake, I'm surprised Bitcoin is still holding on. Sunk cost fallacy I guess.
I'm not an economist or anything, but I don't think it's a sunk cost fallacy I think it's just a market. They're all mining both. Just leaning heavier on whichever one makes them more money in the moment. The market is going to have a hell of a lot of inertia.
The market is run by people, and people have been proven not to be rational. So, sunk cost easily applies to the market
Come on, that's logic 101
All a are b
some b are c
all a are not c.
You can't even claim that most A are C with that logic
I can't quite follow you beyond the fact that in your example "all A are not C" is correct
Yeah I think that's our major problem here.