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«Instead of the vastly changed future with digital currencies and the breakthrough of the Blockchain technology we were promised, we’ve just been stuck with a h
by mrb 9y ago
«Instead of the vastly changed future with digital currencies and the breakthrough of the Blockchain technology we were promised, we’ve just been stuck with a huge bubble and growing complications»
This guy simply needs more patience. The social & economic changes that cryptocurrencies sparked are barely beginning. They will take decades to fully unfold. Just because "it" hasn't happened yet doesn't necessarily mean cryptos are worthless and will all crash to zero.
It is true, however, that there is a bubble. But there are always bubbles at various points of the development of most revolutionary technologies. And Bitcoin's bubbles are becoming tamer over time.¹ In fact they are becoming tame enough that Bitcoin's returns are sometimes beaten by blue chip stocks: in 2016 AMD went up 420% but BTC only 170%.
¹ It took 1 month to go 10× from $120 to $1200 in Nov 2013, but 1 year to go 10× from $490 to $4900 in Aug 2017.