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If we “missed the boat” for Web3, does that imply that it isn’t going to bring its benefits to all of us?
by mccorrinall 5y ago
If we “missed the boat” for Web3, does that imply that it isn’t going to bring its benefits to all of us?
- TobyTheDog123 5y agoI was speaking from an investment perspective there, not a utility one.
- mccorrinall 5y agoIs it overvalued at this point? Will reach its end of growth soon and stay niche? You can’t be truly bullish about something and tell me at the same time that I missed the boat.
- TobyTheDog123 5y agoI can, actually. Those who invested two years ago have likely already made more money than anyone investing now can. Bitcoin was $20 like… 10 years ago? What price would BTC have to reach for you to get the same level of return if you invested now compared to back then?
- danShumway 5y agoThat's pretty easy math to do. Frankly, a world where Bitcoin doesn't eventually see a 2100 times increase in value is also probably a world where it doesn't become a generally-used global currency. If the argument is that Bitcoin's valuation is going to slow down from this point on, then in my mind that is basically a concession that it's not going to revolutionize the world the way that its proponents claim. I don't think people completely understand how incredibly niche cryptocurrency still is and how much it would have to grow before it overtook fiat currencies. Of course, the question is whether BTC's utility actually is going to increase the way its proponents claim (which I am skeptical of). But if it did increase, it's hard to imagine an increasingly limited deflationary asset that's going up in utility value wouldn't also see proportional price increases.
- deleted 5y ago[deleted]
- ryan_lane 5y agoThe utility is late investors paying early investors high prices to get on the boat, and to rescue the early investors from the boat.