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A cryptocurrency alegory

All Cryptocurrencies

by COINS NEWS 52 Views

Once upon a time, in a village overrun with monkeys, a man appeared and announced to the villagers that he would buy the monkeys for $10 each.

The villagers began catching monkeys to sell to the man.

The man bought thousands of monkeys at $10 each, but, as the supply of monkeys started to dwindle, the villagers slowed their efforts.

The man announced that he would now be prepared to pay $20 per monkey.

The villagers, reinvigorated, renewed their efforts and started catching more monkeys to sell to the man.

Soon, the supply of monkeys diminished even further, and people started going back to their farms.

The man increased his offer to $25 per monkey.

The villagers began catching monkeys once more, but the monkey population had diminished to such a degree that it became rare to even see a monkey, let alone to catch one!

The man then announced that he would buy the monkeys at $50 each! However, as he had to travel to the city to attend to some business, his assistant would now purchase the monkeys on his behalf.

When the man had left, his assistant showed the villagers the cage in which the man was keeping all of the monkeys that he had purchased, and said to them: "Look at all the monkeys the man has collected. I will sell them back to you for $35 a piece, and, when the man returns from the city, you can sell them to him for $50 each".

The villagers pooled their profits and savings, and bought all of the monkeys from the assistant.

They never saw the man or his assistant again, and the village was overrun with monkeys once more.

Now you have a better understanding of how the cryptocurrency market works.

submitted by /u/snakepark
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