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The sheer scale of these potential frauds - including the total ambiguity of massive $ raised for ICOs is not only consistent with the shenanigans of the .com -
by alexasmyths 9y ago
The sheer scale of these potential frauds - including the total ambiguity of massive $ raised for ICOs is not only consistent with the shenanigans of the .com - it's much worse.
In .com - companies were creating value, and we all assumed people would pay for 'email' - turns out consumers would not - so many businesses failed, and there was a stampede out of equities.
All of this coin and ICO fraud, including 'regular company' valuations of 300x P/E rations - is absurd.
In 2000 - the bubble was popped with a little bit of an interest rate hike that caused major funds etc. to scramble, causing a stampede.
Markets are definitely emotionally positioned for a black-swan event to cause a scramble.
The markets have to correct for all this sketchy/possible fraud going on.
- deleted 9y ago[deleted]
- goialoq 9y agoParent was talking about the 2008-2009 GFC, not the 2000 .com stock bubble. The .com stock bubble was just speculation about a new technology, not massive worldwide fraud.
- nissimk 9y agohttps://en.wikipedia.org/wiki/Enron_scandal https://en.wikipedia.org/wiki/Enron_scandal https://en.wikipedia.org/wiki/MCI_Inc https://en.wikipedia.org/wiki/MCI_Inc.
- rhino369 9y agoThe scale is different, probably by several orders of magnitude. Crypto isn't pushing the stock markets up. The damages will mostly be limited to those speculators risking their own money.