Economics

I know jack shit about economics and its preventing me from understanding some of the finer points of valuing cryptos

What do I read to get a feel for it?

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Crypto has nothing to do with economics at all and there is no meaningful way to assign a valuation to it since it has no intrinsic value.

The best way might be to determine how expensive it is to mine. That cost should theoretically form a sort of baseline 'book value' so to speak.

Generally though, it trades with technical analysis. Pretty much all currencies trade on technicals. Learn the differences between a rising star, cup and handle and triple butterfly formation and you should riddle out when to buy and sell cryptoshit.

Crypto has nothing to do with economics

>crypto has nothing to do wih economics
crypto has everything to do with economics. even a dysfunctional economy is due study.
the most meaningful ecnomic lesson is the subjectivity of valuation, which underpins all economic thought. value in economics is an axiom.

No dude, stop being a brainlet. All crypto is just whale manipulation. No economic principles apply to this markey basically because I said so.

Listen to some Buffet I guess.
Economic theory is really complex and there is no real consensus, just a bunch of people who say that everyone else is an idiot and that they got the secret model. I think just looking at someone's market success is the best metric of their legitimacy.

The absolute fucking state of biz. Holy fucking shit

I recommend reading Economics in one lesson by Henry Hazlitt. It's more of a debunking of common economical myths but it also teaches the reader basic economics. Just search for key terms in the book if you don't understand what they mean.

But again, as many here reiterated. Crypto has very little to do with Economical concepts, rather it has more to do with trend analysis and corporate finance.

Honestly, if you know jack shit about economics and want to get into it, I recommend just picking some college textbooks on macro and micro economics to get introduced to basic principals and understand how they work(demand graphs, economic models, debt, etc). After you have a basic grasp how shit works then start reading into the different schools of economic thought and their thinkers (Keynes, Hayek, Friedman, Marx

Only real economic theory that applies to crypto is basic law of supply and demand and it's a simple concept. Technical analysis is really the main tool for determining the current market supply and demand. It's not just voodoo bullshit when it comes to crypto since it's analysis of trends of buying and selling forces in a particular asset. Large sales increase supply, lowers prices, large buys tighten supply, increase prices. Since huge orders are not filled instantly, you can kinda-sort predict the price action using TA.

There is no real news or intrinsic value to factor into the valuation of crypto, so TA works perfectly fine. TA doesn't work for say, determining the price of a peice of real estate or a used car or something with utility and intrinsic value, it works best with things that are intrinsically worthless like fiat or crypto and precious metals to a lesser extent.

Basic economics - Thomas Sowell

Keynesian ieconomics works at a superficial scale. Read about Economic Athropology to know about how economics should have been, instead of being capitalist agenda. Just sit in a Economics class in Uni. I bet you would feel it cold and agenda-driven. Just a compilation and mathy justification of opinions of some powerful and influential folks

Dont read mainstream economy. Read the writings of the Austrian school of economy, its the only one that has any clue. Hayek, Mises, Israel Kirzner, etc.

Start by reading six lessons from Mises.

The Mises Institute has ALL the ebooks for free.

These guys know mainstream economy. And indeed, it has no application in crypto, because its wrong.

Austrian economists have a lot in commmon with crypto, Hayek often talked about a free banking society, which is exactly what the crypto market is.

>Dont read mainstream economy. Read the writings of the Austrian school of economy
Can you get more cultist? Autists and their beloved narrow-perspective models of reality

Why are you so stupid and ugly, mentally and physically damaged both here and in reality? I have literally never seen you post anything remotely intelligent, original or funny here. All you do is shit up the place with you 8 syllable sentences and let everyone know it was indeed you who dropped that turd of a "thought" on this board.
Thanks to you I have started to advocate for euthanasia to be accessible without any specific reason to everyone, so you could freely end your existence on this planet, because you will NEVER EVER find happiness nor wealth with your cruel handicaps.
Kill yourself.

> Autists and their beloved narrow-perspective models of reality

If you read any austrian you realise that their idea is exactly the opposite, they explicitly say that you cant see economy through narrow-perspective models, precisely because economy is too complex to be modeled, and involves many areas that mainstream economists ignore, such as law, ethics, political science, etc.

While mainstream economy try to model reality to control it, austrians say its impossible to do so (since there is a near infinite amount of data to gather at every single second), meaning people should be free to decide for themselves whats better for them, and not government economists. Its a much more humble school of economy, precisely because it admits how little humans know.

And you call this narrow minded? Go fuck yourself.

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>wall of text
>autistic temper tantrum
Take advice from austrian economics enthusiasts at your own peril. They are all like this shitstain over here

>meaning people should be free to decide for themselves whats better for them, and not government economists.
>we can't model something perfectly
>therefore we can't predict it to any degree of probability
>we can't eradicate murder by law
>let's abandon all laws against murder. it's hopeless.

Your point makes no sense.

Austrian economics enthusiasts narrow mindedness distilled. literal autism.

Read Das Kapital and you'll understand it all

>basic law of supply and demand
supply and demand is anything but basic however