Right, I just mean there are a lot of people that are buying coins that they know absolutely nothing about. They'll see a comment on reddit or see how low the market cap is, see it pump and just buy it based on that. I would wager there is a not-insignificant amount of STEEM holders that aren't even aware of the social media aspect of it.
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I don't think that dumb money is the bulk of investments in crypto. It's impossible to tell.
The inflation oncoming is a damn good reason to avoid dollars, and even dumb investments in other currencies are at least smart to get out of dollars.