It's damn difficult to discriminate in advance between a bubble and a Revolution der Denkart [0]. The presence of hype, fraud and large fluctuations in prices

It's damn difficult to discriminate in advance between a bubble and a Revolution der Denkart [0]. The presence of hype, fraud and large fluctuations in prices do not invalidate new technology or concepts. The dotcom "bubble" was a hypefest, then it deflated, but the underlying technology and concepts have spawned something many times larger than the original bubble. If it turns out that cryptocurrencies have no purpose beyond a small niche, then we'll see in hindsight that it was indeed a bubble. But if creative people find a larger use for cryptocurrencies, then hindsight will understand the 2018 "crash" as just another in the fractal series of price declines followed by even larger price increases. Since the underlying technology has withstood sustained attacks across the technical, economic, political and legal domains, perhaps reports of its death are premature. [0] https://books.google.com/books?id=sRYW1wtdER0C&pg=PA136&lpg=PA136&dq=Revolution+der+Denkart&source=bl&ots=kvMER1Eboy&sig=QnG6FI1mOFBZBNz0UUlkW9H-dOs&hl=en&sa=X&ved=2ahUKEwjB56WYiKjfAhV1HjQIHSDnDCIQ6AEwEnoECAgQAQ#v=onepage&q=Revolution%20der%20Denkart&f=false https://books.google.com/books?id=sRYW1wtdER0C&pg=PA136&lpg=...