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Fer

@ferdj

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John Kenneth Galbraith — “A Short History of Financial Euphoria” (1990) IMO all bubbles are similar to crypto market too. Core idea: Bubbles repeat because collective memory is short and greed is timeless. Pattern of every mania. 1. A “new era” story catches fire (tulips, South Sea, ’29 stocks, junk bonds, dot-coms, crypto, etc.). 2. Prices surge, attracting fresh money and intellect—people mistake rising quotes for genius. 3. Easy credit/leverage turbo-charges gains and blinds participants to risk. 4. The establishment (banks, media, regulators, academics) cheers it on; no one wants the music to stop. 5. Skeptics are ridiculed until the bubble punctures. 6. Crash, blame, amnesia. Repeat next generation. Galbraith’s checklist to stay sane - Doubt any pitch that starts with “this time is different.” - Track leverage; when it soars, danger is near. - Remember that wealth ≠ wisdom during a boom. - Keep cash—and skepticism—ready for the bust; that’s when real bargains appear. Keep it handy the next time markets sound euphoric.
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Vitalik reposted that project, I did my research and post here the summary how to participate in mining, DYOR always before enter: "INTMAX is an L2 with a stateless architecture for transfers and payments. Achieving hyper-scaling and privacy at the same time." INTMAX Privacy Mining v2 – TL;DR • Connect wallet → new INTMAX address • Deposit **exactly** 0.1 / 1 / 10 / 100 ETH • Funds lock 2–5 days (block-hash RNG) • Withdraw to **different** address, hit “Claim” → receive ITX Rewards • Points: 0.1 ETH = 1 | 1 ETH = 4 | 10 ETH = 9 | 100 ETH = 16 • Daily ITX = (your points / total points) × daily emission • Current emission: **558 593.75 ITX/day**, halves six times through 2030 Rules • Wrong amount or same withdraw addr = 0 ITX (ETH is safe) • AML screen on deposit; “Proof of Innocence” if flagged • If no deposits in a day, that day’s ITX is burned Park ETH a few days, follow rules, farm ITX.
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