Elon Musk once said in a sarcastic tone while talking about the economy, which aligns with our current preferences and dislikes regarding the price projections of BTC. You will notice that the market cap hasn't really gone down, but the portfolio has gone underground.
“Economics often does not match real life. The calculations are correct on paper, but in reality, the outcome is ridiculous.”
To explain this, he tells a little humorous story.
Two economists were walking through a jungle. Suddenly they saw a pile of garbage on the road.
One economist said to the other,
“I will give you 100 dollars if you eat this pile of garbage.”
The guy took 100 dollars and really ate the garbage.
Then they started walking again. After a while, they saw another pile of garbage.
Now the second one said,
“Okay, I will give you 100 dollars if you eat this garbage.”
He gave 100 dollars, and the first one ate it.
After a while, both stopped and said
“Wait a minute… we both still have the same amount of money as before! But we both ended up eating a piece of dirt!”
Suddenly one of them exclaimed,
“Oh! That means we added 200 dollars to the economy! Awesome! The economy has grown so much!”
This is where the real story is.
On paper, it seems there have been transactions, money has circulated, and 'value' has been added in the accounting books. But what has really changed?
The two people are just the same as before.
No, they have not become happy,
No, health has not improved,
No, the meaning of life has not improved even a bit.
Rather, the real damage has been greater.
Economics is only meaningful when it makes people's lives easier, more respectable, and safer.
When economics becomes just a game of increasing numbers, it may sound intelligent, but in reality, it becomes merely ridiculous. $TRB $AVAX $DOT
