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– Adam Livingston’s post affirms Mark Moss’s view that Bitcoin’s volatility acts as an “IQ sieve,” redistributing wealth from uninformed speculators to informed holders, illustrated by an attached graphic emphasizing this filtering mechanism.
– The “IQ sieve” metaphor draws from Bitcoin community discussions, such as a 2024 Reddit thread labeling it a financial IQ test failed by over 95% due to its complexity, aligning with data showing crypto adoption skews toward higher-income, educated demographics per JPMorgan’s 2023 analysis.
– Thread replies nuance the concept, noting volatility also tests risk tolerance and patience—rewarding those who dollar-cost average through drawdowns—while punishing overleveraged or timing-obsessed participants, as evidenced by historical cycles where patient HODLers outperformed traders.
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