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I feel like it is a lot less like Tulip mania and a lot more like the dotcom boom/crash. I say that in the sense that there is significant utility in some crypt
by saosebastiao 9y ago
I feel like it is a lot less like Tulip mania and a lot more like the dotcom boom/crash. I say that in the sense that there is significant utility in some cryptocurrency concepts, but not all of them...however there is widespread overheating due to speculation.
That is also to imply that some may emerge after a crash in the same way that Amazon, Google, eBay/Paypal, etc., emerged and thrived after the crash.
- drieddust 9y agoI do not deny the utility of crypocurrencies there will be winners out of this. But current breed of investors will trigger another bout of golbal meltdown. Even Amazon lost its value during the crash so chances are that most investors sold out everything in panic. Only those who had nerves of iron actually came out alive.
- matthewbauer 9y agoI don't think there's enough money in cryptocurrencies to trigger a global meltdown. It will no doubt have an effect of the economy, but it's still fringe enough that a crash in the near future would be mostly harmless.
- drieddust 9y agoAt the moment it's not but of this mania continued for some more time it will snowball as more and more folks get in just because they don't want to miss out. I hope you are right and crash comes early on.