4 ms·

Why not call it a crypto apocalypse, not winter? Winter implies it will be over eventually.

bergenty 4y ago
This cycle has happened four times before and every time there are more people investing. It could be the apocalypse but we won’t know for a while.
- paulryanrogers 4y ago
  Once everyone understands the fundamentals there may be no greater fools left. That would be recipe for an 'apocalypse'.
  - bergenty 4y ago
    It’s possible but there are a lot of people invested in crypto and they’re not all fools. There are a lot of people that have never invested in crypto and they’re definitely not all fools.
    - HWR_14 4y ago
      "Greater fool" is a technical term, not a judgement.
      - bergenty 4y ago
        The underlying implication turns out to be pretty literal.
        xwolfi 4y ago
        Greater dreamer works as well. The most important part is the infinite growth of expectation.
      - nailer 4y ago
        It's both.
  - EarthLaunch 4y ago
    It's going to be a long time before even a significant minority of people understand the fundamentals.
  - the_biot 4y ago
    Yet pyramid schemes/MLMs keep popping up, for decades. Their model isn't so different from what motivates people who get caught up in cryptocurrency and NFT scams.
  - eliaspro 4y ago
    The principle of the "daily ten thousand" ensures there's a constant supply of new fools... https://xkcd.com/1053/ https://xkcd.com/1053/
- duskwuff 4y ago
  > This cycle has happened four times before and every time there are more people investing. How many more people could be convinced to put money into cryptocurrency? At this point I suspect there aren't a lot left.
  - anony23 4y ago
    Every time it goes up it's more people than the last time.
    - duskwuff 4y ago
      There's a finite supply of suckers, and the cryptocurrency industry has already been digging pretty deep.
    - yakak 4y ago
      If it's like other tech the more people are now in the developing world which would mean high volume usage but have trouble reaching past heights of speculation.
  - junofan 4y ago
    You don’t think retail are gonna look for alternative investments over the coming cycle? That they’ll be happy with stocks, bonds, and deposit accounts at their local credit unions?
    - JumpCrisscross 4y ago
      > they’ll be happy with stocks, bonds, and deposit accounts at their local credit unions? You’re describing gambling addicts. Healthy casinos keep their share of revenue to a minimum for a reason.
  - deleted 4y ago
    [deleted]
  - lurker619 4y ago
    Every four years today's high schoolers graduate college and start earning money. They don't witness the previous cycle and it's lessons, so they are impressed by the tech and don't realize the greater fool is them.
herbst 4y ago
Why call it apocalypse when there are no signs of it actually dying. It's a big cleanup, ponzies bust, worthless coins bust, every project has to proof its relevance again. It was fucking time. People started to loose any relation to anything with all those masked ponzies & not even alpha metaverses.

This cycle has happened four times before and every time there are more people investing. It could be the apocalypse but we won’t know for a while.

paulryanrogers 4y ago
Once everyone understands the fundamentals there may be no greater fools left. That would be recipe for an 'apocalypse'.
- bergenty 4y ago
  It’s possible but there are a lot of people invested in crypto and they’re not all fools. There are a lot of people that have never invested in crypto and they’re definitely not all fools.
  - HWR_14 4y ago
    "Greater fool" is a technical term, not a judgement.
    - bergenty 4y ago
      The underlying implication turns out to be pretty literal.
      - xwolfi 4y ago
        Greater dreamer works as well. The most important part is the infinite growth of expectation.
    - nailer 4y ago
      It's both.
- EarthLaunch 4y ago
  It's going to be a long time before even a significant minority of people understand the fundamentals.
- the_biot 4y ago
  Yet pyramid schemes/MLMs keep popping up, for decades. Their model isn't so different from what motivates people who get caught up in cryptocurrency and NFT scams.
- eliaspro 4y ago
  The principle of the "daily ten thousand" ensures there's a constant supply of new fools... https://xkcd.com/1053/ https://xkcd.com/1053/
duskwuff 4y ago
> This cycle has happened four times before and every time there are more people investing. How many more people could be convinced to put money into cryptocurrency? At this point I suspect there aren't a lot left.
- anony23 4y ago
  Every time it goes up it's more people than the last time.
  - duskwuff 4y ago
    There's a finite supply of suckers, and the cryptocurrency industry has already been digging pretty deep.
  - yakak 4y ago
    If it's like other tech the more people are now in the developing world which would mean high volume usage but have trouble reaching past heights of speculation.
- junofan 4y ago
  You don’t think retail are gonna look for alternative investments over the coming cycle? That they’ll be happy with stocks, bonds, and deposit accounts at their local credit unions?
  - JumpCrisscross 4y ago
    > they’ll be happy with stocks, bonds, and deposit accounts at their local credit unions? You’re describing gambling addicts. Healthy casinos keep their share of revenue to a minimum for a reason.
- deleted 4y ago
  [deleted]
- lurker619 4y ago
  Every four years today's high schoolers graduate college and start earning money. They don't witness the previous cycle and it's lessons, so they are impressed by the tech and don't realize the greater fool is them.

herbst 4y ago

Why call it apocalypse when there are no signs of it actually dying. It's a big cleanup, ponzies bust, worthless coins bust, every project has to proof its relevance again. It was fucking time. People started to loose any relation to anything with all those masked ponzies & not even alpha metaverses.