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I feel a little guilty about posting these non-stories. But I want to use this to pose a real question: Crypto is clearly being being driven by a bubble menta
by marojejian 9y ago
I feel a little guilty about posting these non-stories. But I want to use this to pose a real question:
Crypto is clearly being being driven by a bubble mentality.
Is that:
a) Bad - because it will all crash and undermine the concept.
b) Not bad but irrational - the technologies that actually serve a purpose will rise from the ashes when needed.
c) Not bad AND rational:
- Maybe the "store of value" use case is a real one (driven by distrust of government etc.)
- If one believes that some currency will at some point become a significant store of world wealth in the future, you should pay a huge amount for it now (what if you happened to know where a lot of oil was, before it was used for transport)
- "irrational" pricing is not forecastable. E.g. Amazon was super over valued in 1999 (by any metric at the time). But it was STILL an amazing long term buy. So it was, in reality, very under valued.
Not sure. but would love thoughts!