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> we're gonna look back at this in 5 years and collectively say, what were we thinking? We did that after the housing bubble in 2008 (low down payments, flexib
by arcanus 8y ago
> we're gonna look back at this in 5 years and collectively say, what were we thinking?
We did that after the housing bubble in 2008 (low down payments, flexible credit ratings, etc.)
The big question is: could this also be a systemic risk to the economy? No one liked bailing out the banks, but it was necessary to save the economy. It is not clear tech or crypto are similarly critical.
- toomuchtodo 8y agoTech? Probably not. But there is a lot of novice (polite term) money in crypto now.
- hobofan 8y agoI think it's already pretty clear that crypto doesn't need bailouts. The total cryptocurrency market size is at 1/4th of what it was at the beginning of the year, and there haven't been any significant results because of that. I would wager that the remaining 1/4th could be wiped out and it's still pretty much the same. Crypto projects were always very removed from the real world, both in valuation and usage (so if crypto vanishes it doesn't impact other companies). The biggest result of the crypto market correcting will probably be software engineer salaries becoming a bit lower again (outside of SF).