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>The Stock Market, S&P 500, is down 20% year-to-date (6-months). A more apples to apples comparison would be comparing crypto market to tech stocks. In which

by evv555 4y ago

>The Stock Market, S&P 500, is down 20% year-to-date (6-months). A more apples to apples comparison would be comparing crypto market to tech stocks. In which case yes there are valid comparisons.

dragontamer 4y ago
Its not very surprising that Cryptocoins would be correlated to GBTC (literally a pile of bitcoin trading as a stock), Coinbase (literally the exchange that does better when more volume happens), and TSLA (who bought a pile of BTC sometime last year). Tech companies were playing with blockchain this past year, and are now getting burned. You've got cause-and-effect backwards here.
- evv555 4y ago
  People were making equivalent accusations of vaporware when the dot com bubble burst but 20 years later and many winners have emerged from that era in addition to new ones.
  - dragontamer 4y ago
    I lost all my paper money at that time trading Ask Jeeves. The Dot-com bubble was my "test run", when I was learning stocks, paper-trading, and getting into finance. I very much was alive during that time. If you didn't live during that time, then you wouldn't know anything of that era. Yahoo was the #1 search engine. No one cared much about Google. Amazon was a book store. Ebay was far bigger than Amazon for general purpose goods. Webvan was your hope at making the internet mainstream. Etc. etc. The biggest "internet" company was either AOL or Netscape IMO. Neither of them really the winner over the next 20 years. --------- If you lived in that era, you would know just how unlikely it was that you'd have picked Amazon or Google out of the ashes. Chances are, you would have been caught up with Enron and Worldcom's schemes, just like everyone else was.
- kareemsabri 4y ago
  They're also correlated with other high-growth tech stocks like SNOW, TWLO, NET, DDOG, and other companies that don't have exposure to crypto. It's not necessary to engage in denial in order to trash crypto.

by evv555 4y ago

>The Stock Market, S&P 500, is down 20% year-to-date (6-months). A more apples to apples comparison would be comparing crypto market to tech stocks. In which case yes there are valid comparisons.

dragontamer 4y ago

Its not very surprising that Cryptocoins would be correlated to GBTC (literally a pile of bitcoin trading as a stock), Coinbase (literally the exchange that does better when more volume happens), and TSLA (who bought a pile of BTC sometime last year). Tech companies were playing with blockchain this past year, and are now getting burned. You've got cause-and-effect backwards here.

evv555 4y ago
People were making equivalent accusations of vaporware when the dot com bubble burst but 20 years later and many winners have emerged from that era in addition to new ones.
- dragontamer 4y ago
  I lost all my paper money at that time trading Ask Jeeves. The Dot-com bubble was my "test run", when I was learning stocks, paper-trading, and getting into finance. I very much was alive during that time. If you didn't live during that time, then you wouldn't know anything of that era. Yahoo was the #1 search engine. No one cared much about Google. Amazon was a book store. Ebay was far bigger than Amazon for general purpose goods. Webvan was your hope at making the internet mainstream. Etc. etc. The biggest "internet" company was either AOL or Netscape IMO. Neither of them really the winner over the next 20 years. --------- If you lived in that era, you would know just how unlikely it was that you'd have picked Amazon or Google out of the ashes. Chances are, you would have been caught up with Enron and Worldcom's schemes, just like everyone else was.
kareemsabri 4y ago
They're also correlated with other high-growth tech stocks like SNOW, TWLO, NET, DDOG, and other companies that don't have exposure to crypto. It's not necessary to engage in denial in order to trash crypto.