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You say it will never get any traction, but cryptocurrency’s global market cap is $2.28T right now and growing. This has a lot of vibes similar to when dropbox
by dmak 5y ago
You say it will never get any traction, but cryptocurrency’s global market cap is $2.28T right now and growing. This has a lot of vibes similar to when dropbox was first announced. Even if you don’t find it valuable or believe in it, surely you can see why a group of people might.
- ctvo 5y agoIt’s not similar to Dropbox. For the initial Dropbox idea it was doubt that user convenience mattered (just use rsync!) not that there wasn’t a worthwhile problem. What is the problem and solution here? If you say illegal activities, gambling, and evading state regulations, I can see it. Great product. Citing market cap isn’t that convincing. China has a property market with similar value that’s being threatened as we speak. What does a very large number prove except there’s been investment? It certainly doesn’t prove it’s a sound investment or that it has a future beyond a vehicle for the uses I mentioned.
- ryan_lane 5y agoThe thing driving that market cap is wash trading. The legitimate trade volume is actually quite low. Very few people use cryptocurrencies, and the vast majority that do are gambling. I can see that people enjoy gambling, but that doesn't mean the actual tech is good.