Be Warned, Beware
The Bigger Fool theory states that there is little risk when one invests in nothingness or empty air as long as a bigger fool will come along to invest afterwards. Bitcoin and other crypto-currencies have all the makings of a classic Bigger Fool bubble. It works, until it doesn't. In other words, it works as long as there are bigger fools willing to invest in the bubble and purchase what you bought yesterday.
Crypto wipeout: Market loses $200 billion
Frank Chung
NZ Herald
Bitcoin and other cryptocurrencies including ethereum, litecoin and ripple plummeted in value on Monday after Coinmarketcap removed prices from South Korean exchanges without warning.
Prices on South Korean exchanges are typically up to 30 per cent higher than in other countries. The widely used research site's decision to exclude average price data from Bithumb, Coinone and Korbit resulted in a sudden drop in displayed prices.
That caused confusion among investors and partly contributed to a major sell-off, which was also fuelled by news that South Korean and Chinese regulators planned to increase oversight on cryptocurrency trading and mining. . . .
