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January 12, 2015, 05:27:33 AM |
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Foreigner comes to a remote village. He notices the villages infested with monkeys. Folks ask him what do you do ? He says I am a monkey trader. I buy monkeys in villages like yours and sell them to my customers.
So villagers ask him How much do you pay for a monkey ? He says one dollar. Villagers are surprised; some even think if he is a fool. So they bring all the monkeys and collect their $1 reward per monkey.
Next week there are few monkeys left in the village so villagers have to venture out to spot, catch and bring monkeys. Noticing their increasing difficulty the Monkey Trader raises the reward to $2 a monkey.
Another week passes by and there are far less monkeys left in neigboring villages. The Monkey Trader keeps on raising the reward per monkey until it reaches $50.
Comes a weekend the Monkey Trader needs to go to the city to attend some urgent work. His assistant called all the villagers to the huge monkey cage where the Monkey Trader had been storing all the monkeys he had bought from the villagers. And tells them : I have been working for this Monkey Trader for 5 years; he doesn't give me a salary hike and makes me work harder while he keeps all the profits. So I have decided to offer you all these monkeys at half price $25 a piece. If you wish you can buy them and sell it back to the Monkey Trader when he comes back tomorrow.
The villagers are excited. They go home to fish out all the money they had. Some even borrow from their relatives & friends. And they come back to the assistant to buy all the monkeys in the cage at $25 a piece in the hope of doubling their money the very next day when the Monkey Trader comes back to the village.
The assistant is too happy to sell all the monkeys and gifts the last 4 which nobody bought to those who bought the largest number of monkeys. Happy villagers come home with their bounty.
Next morning the assistant disappears from the village. And the Monkey Trader was never seen by the villagers again.
Do you see any parallels in the altcoin economy ?
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