X @mert | helius.dev
mert | helius.devยท2025-10-08 15:45
A Reflexive Thesis on Why Privacy Is About to Take OffReflexivity is the idea that investors' beliefs shape the market, and then the market shapes the investors' beliefs.For example, people buy because they think the price will go up, but if enough people do this, the price does go up, which then makes other people buy, and on and on.This, in turn, attracts attention, which drives fundamentals, which then attract more investors.So flows lead to fundamentals, which then feed back into flows.This is a big rea ...