3 ms·

I mean that’s what happened in 2017-2018 yet again we are repeating the same bubble. I guess these crazy run ups will end at some point but I see no indication

• mettamage 5y ago
  I don’t think it will be. I talked to a person that valuates art. When I heard her talk, I felt that cryptocurrency valuation had a lot in common with it. Where art is valued on: - Rarity - Popularity of artist - Perceived craftsmanship then - Perceived craftmanship now - Emotional elicitation (indirectly, i.e. if we didn’t “like” or “felt” something through art it wouldn’t hold value, probably). Now cryptocurrencies: - Rarity - Popularity - Innovativeness of idea at the time - Innovativeness of idea now - The ideology that a certain coin or cryptocurrencies as a whole represent (e.g. if it didn’t have an anarchistic and innovative bend then it would be worth a lot less) - To a small extent: its utility (e.g. the unbanked using it) Obviously I am handwaving and simplifying. My point: they are more similar than you think.