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Most people understand that crypto is in a bubble, but that doesn't mean that extreme value won't be attained. There was a dotcom bubble because of speculation,
by dumbfounder 9y ago
Most people understand that crypto is in a bubble, but that doesn't mean that extreme value won't be attained. There was a dotcom bubble because of speculation, but it was merely a timing issue. It took another 5-6 years before companies started extracting the value to match the speculation and the bubble just couldn't stay in tact long enough. If you could invest in "The Internet" as a concept back in 1999 you would be rich today because the value has skyrocketed way past that bubble. If you think Bitcoin is going to last 20 years then it doesn't matter if we are in a bubble, you should buy some. Maybe it goes down for a while, but if it's around in 20 years it is almost certainly going to be worth way more than it is today.
- badloginagain 9y agoThere may have been a dotcom bubble, but internet companies didn't go away after it popped. The bubble was fueled by an understanding that the internet was a fundamental shift in the future of the global economy, without it being around long enough to actually do so. I can see parallels in crypto-currencies, and I think even if there is a bubble, it won't spell the death of crypto.