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If everyone’s saying we’re in a bubble, we probably are. Just because it keeps getting bigger doesn’t mean it’s not going to pop. We’ve had 15 years of people
by pigsty 4y ago
If everyone’s saying we’re in a bubble, we probably are. Just because it keeps getting bigger doesn’t mean it’s not going to pop.
We’ve had 15 years of people getting billions for phone apps made in 12 months and forgotten in 6. Random individual software startups are valued more than basically the entire hardware industry under them. Bitcoin peaked out at 1.28 trillion and it still has no use beyond being a converter from dollars, to crypto, to dollars again with the occasional hand wavey “dude it’s totally completely secure and stable and everyone will use it in the future as a currency! Look how much I made by investing at the peak!” story.
- Otek 4y agoNo, if no one is saying that we are in a bubble, then we might be in one. Because when everyone thinks it’s a bubble they are extra careful. When they don’t think about it, they just grow the bubble
- hnfong 4y agoIf literally everyone's saying we're in a bubble, by definition we wouldn't be. Nobody would be buying at ever higher prices in a bubble, so who's making those trades? Sure, you might claim those people are unhinged and don't count, but they'd say the same to you. Unless you actually start going to your broker and buy a bunch of PSQ your comments here carry as much weight as mine.
- SamBam 4y agoPeople can simultaneously believe they're in a bubble and still be buying. They may believe that they'll be able to sell before it pops. Or they may believe if it keeps growing long enough it won't matter that it's a bubble, because they'll have made enough money.