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Or crypto is just another hype that will burst like the dot com bubble. However, I have to say, compared with the companies of the dot com bubble the blockchain

Or crypto is just another hype that will burst like the dot com bubble. However, I have to say, compared with the companies of the dot com bubble the blockchain space has very little to offer. The other day I saw an ad for an IoT ML ICO.

fullshark 8y ago
The dot com bubble was completely justified in retrospect imo. A lot of stupid money was lost but the opportunity was clearly and obviously there. If you think blockchain has as much potential as the dot com bubble you should put a lot of money into it.
- endlessvoid94 8y ago
  That's an interesting take. I like it.
- deleted 8y ago
  [deleted]
Reedx 8y ago
Or did it already burst like that? Bitcoin was at ~$20k, now it's ~$6k. The dot com bubble didn't have a contraction like that before it popped. That was the pop.
- nostrademons 8y ago
  It did, actually, it's just that people only remember the big bubble and big pop. There was a fairly big bubble over the summer of 1998 that popped in the fall: NASDAQ: https://goo.gl/7ecN9J https://goo.gl/7ecN9J AMZN: https://goo.gl/tjufK8 https://goo.gl/tjufK8 This also coincided with the fall of Netscape and its eventual purchase by AOL in November 1998. The dot-com bubble that people actually remember got started when that bust hit its nadir (right around the Netscape purchase), and really kicked into high gear a year later in the fall of 1999. I think that what happened is that Netscape's purchase and the subsequent recovery of Internet stocks is what convinced entrepreneurs & VCs that the Internet was here to stay, which led to a flood of capital in and a frenzy of entrepreneurial activity, and then once all their products started hitting the market 6-12 months later the public took notice and the dot-com bubble really took off. There will likely be a similar effect with crypto as all the ICOs - the ones that are not scams, at least - actually start releasing their products for people to use. Crypto is bubblier than dot-coms because everything is bubblier now; capital markets are thoroughly globalized, and there's more capital sloshing around.
nostrademons 8y ago
While most of the specific companies in the dot-com bubble ended up going bust, the underlying technology was certainly not a bubble - I mean, you're posting this on the Internet, to people all across the globe who you have never met. That was unthinkable 25 years ago. If you invested in Amazon in 1997, or started working at Google in 2000, or even just learned HTML in 1998 and started a niche e-commerce business, you're probably doing pretty well. A lot better than the folks who just dismissed the Internet as a fad, at least.

fullshark 8y ago

The dot com bubble was completely justified in retrospect imo. A lot of stupid money was lost but the opportunity was clearly and obviously there. If you think blockchain has as much potential as the dot com bubble you should put a lot of money into it.

endlessvoid94 8y ago
That's an interesting take. I like it.
deleted 8y ago
[deleted]

Reedx 8y ago

Or did it already burst like that? Bitcoin was at ~$20k, now it's ~$6k. The dot com bubble didn't have a contraction like that before it popped. That was the pop.

nostrademons 8y ago
It did, actually, it's just that people only remember the big bubble and big pop. There was a fairly big bubble over the summer of 1998 that popped in the fall: NASDAQ: https://goo.gl/7ecN9J https://goo.gl/7ecN9J AMZN: https://goo.gl/tjufK8 https://goo.gl/tjufK8 This also coincided with the fall of Netscape and its eventual purchase by AOL in November 1998. The dot-com bubble that people actually remember got started when that bust hit its nadir (right around the Netscape purchase), and really kicked into high gear a year later in the fall of 1999. I think that what happened is that Netscape's purchase and the subsequent recovery of Internet stocks is what convinced entrepreneurs & VCs that the Internet was here to stay, which led to a flood of capital in and a frenzy of entrepreneurial activity, and then once all their products started hitting the market 6-12 months later the public took notice and the dot-com bubble really took off. There will likely be a similar effect with crypto as all the ICOs - the ones that are not scams, at least - actually start releasing their products for people to use. Crypto is bubblier than dot-coms because everything is bubblier now; capital markets are thoroughly globalized, and there's more capital sloshing around.

nostrademons 8y ago

While most of the specific companies in the dot-com bubble ended up going bust, the underlying technology was certainly not a bubble - I mean, you're posting this on the Internet, to people all across the globe who you have never met. That was unthinkable 25 years ago. If you invested in Amazon in 1997, or started working at Google in 2000, or even just learned HTML in 1998 and started a niche e-commerce business, you're probably doing pretty well. A lot better than the folks who just dismissed the Internet as a fad, at least.