Re:Bitcoin up 15+ percent in 1 day
by DavidSJ on Wednesday April 03, 2013 @02:15AM
(#5484581)
It does not imply anything about reversibility. It applies just as well to a liquid asset like bitcoin or stock as to an illiquid asset such as a house.
Two people each have 1 BTC. One paid $5 for it, the other paid $10 for it. Their present situations are identical, therefore the rational behavior is the same for both of them, despite their different purchase prices.
Two people each have 1 BTC. One paid $5 for it, the other paid $10 for it. Their present situations are identical, therefore the rational behavior is the same for both of them, despite their different purchase prices.