4 ms·

It's a possibility. Maybe they'll still be here, maybe they'll be totally gone; maybe they'll exist, but only in certain niches, or in a form that's unrecogniz

It's a possibility. Maybe they'll still be here, maybe they'll be totally gone; maybe they'll exist, but only in certain niches, or in a form that's unrecognizably different than what they look like now. By analogy: two decades ago, US consumers were buying almost a billion dollars' worth of photographic film a year [1]. Photography hasn't gone anywhere -- people are taking orders of magnitude more photos than they used to -- but if you had invested your entire net worth into Kodak in 2000, you'd be penniless now. [1]: http://blog.keh.com/the-evolution-of-photo-lab-life/ http://blog.keh.com/the-evolution-of-photo-lab-life/

to3m 9y ago
But this time it's different, because you can invest your entire net worth into KODAKCoin: https://www.kodak.com/kodakone/default.htm https://www.kodak.com/kodakone/default.htm
adamnemecek 9y ago
Ok so we disagree on whether Bitcoin has peaked or not. Do you feel like crypto has peaked? There's this half trilion just waiting to be multiplied. Like people just bought in, they wont be selling. In some sense, I wonder if the fact that beginner investors bought in means that it's more resistant to a price dump as they wont have stop losses. If they bought for 1000, they wont sell for 500 thereby keeping the price afloat. Not saying that's the case.
- JumpCrisscross 9y ago
  > Like people just bought in, they wont be selling Is this a serious argument?
  - adamnemecek 9y ago
    You've never met a "naive" investor.
- Jtsummers 9y ago
  Someone buying for $1000 and not selling for $500 will not keep the price afloat. It just means they're stuck with something they refuse to sell and no one else wants to buy. Other people will sell at the lower price (to get out and write off their losses rather than incur more) and the price will drop anyways.
  - adamnemecek 9y ago
    It's not someone. It could be large part of the market.
    - Jtsummers 9y ago
      "Could be"? Dude, this is why people bought fucking Beanie Babies 20 years ago and held them. Hell, I have 10 in my apartment because my grandfather was buying and trading them in the late 90s. Thank god he traded enough for a profit, he was essentially break even at the end of that bubble. Some people bought them expecting the absurd valuation to continue. See also comic book and baseball card bubbles that started in the 1990s. People held them until they were valueless. Now there's a glut on the market and no one wants the damn things.

to3m 9y ago

But this time it's different, because you can invest your entire net worth into KODAKCoin: https://www.kodak.com/kodakone/default.htm https://www.kodak.com/kodakone/default.htm

adamnemecek 9y ago

Ok so we disagree on whether Bitcoin has peaked or not. Do you feel like crypto has peaked? There's this half trilion just waiting to be multiplied. Like people just bought in, they wont be selling. In some sense, I wonder if the fact that beginner investors bought in means that it's more resistant to a price dump as they wont have stop losses. If they bought for 1000, they wont sell for 500 thereby keeping the price afloat. Not saying that's the case.

JumpCrisscross 9y ago
> Like people just bought in, they wont be selling Is this a serious argument?
- adamnemecek 9y ago
  You've never met a "naive" investor.
Jtsummers 9y ago
Someone buying for $1000 and not selling for $500 will not keep the price afloat. It just means they're stuck with something they refuse to sell and no one else wants to buy. Other people will sell at the lower price (to get out and write off their losses rather than incur more) and the price will drop anyways.
- adamnemecek 9y ago
  It's not someone. It could be large part of the market.
  - Jtsummers 9y ago
    "Could be"? Dude, this is why people bought fucking Beanie Babies 20 years ago and held them. Hell, I have 10 in my apartment because my grandfather was buying and trading them in the late 90s. Thank god he traded enough for a profit, he was essentially break even at the end of that bubble. Some people bought them expecting the absurd valuation to continue. See also comic book and baseball card bubbles that started in the 1990s. People held them until they were valueless. Now there's a glut on the market and no one wants the damn things.