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As someone who‘s been through the dotcom bubble, I vividly remember talking to my classmate driving home on our bikes and he told me about the Infineon stock he
by endymi0n 5y ago
As someone who‘s been through the dotcom bubble, I vividly remember talking to my classmate driving home on our bikes and he told me about the Infineon stock he just bought. We were kids, 16 years old and felt like the smart brokers in the magazines. In retrospect, the writing was on the wall when tabloids were advising to excited and innocent consumers which stock to buy on their front page.
The shock didn‘t come more than a year after and it was mostly the last ones to buy in to get burned.
This time, it‘s worse. In the 90‘s, it was all real stock, and it was getting visible when the companies started to underperform. There were a few physical assets to sell.
This time, it‘s much worse and the crypto boys will only find out that the only real value their bytes have is whatever anyone else is willing to pay for it.
I‘m not worried about crypto being here to stay. That won‘t happen. I‘m worried about what it will take with it when it vaporizes in front of the bulls.
- robot_no_419 5y agoPeople who are still comparing equity (a legal contract representing ownership in a centralized US company) to cryptocurrency (a novel class of commodities that has no central authority or legal structure) are comparing apples to gold bars.
- meowface 5y ago>I‘m not worried about crypto being here to stay. That won‘t happen. I‘m worried about what it will take with it when it vaporizes in front of the bulls. Can you elaborate? You think all cryptocurrencies will disappear / drop to $0.00? I'm sure there'll be more massive market crashes to come, but you're saying one day every cryptocurrency will suddenly just be done and gone and that's it and no one's using, buying, or selling any cryptocurrencies again after that point?