Does crypto have the potential to turn out like the dot com bubble? Big amounts of money being thrown about just because something seems like it could be worthwhile.
Does crypto have the potential to turn out like the dot com bubble...
Ryan Morgan
Other urls found in this thread:
reddit.com
forbes.com
bloomberg.com
twitter.com
Cooper Myers
eh maybe. this could be a whole new paradigm though. if it does crash though i dont think it would happen until like 2020 or 2021 so we have a few years to make it first
Kevin Hughes
Internet is undervalued.
Juan Bennett
Absolutely , crash coming after bitcoin hits 20k again
Ryder Ramirez
nope, the tech behind crypto is already proven to work. there are so many alts some with already proven and/or working products, its more likely that adaption will catchup quicker and it will be nothing like the dotcom bust.
BTC might crash though, but more like a slow deflation.
Kevin Williams
Crypto already had dozens of dotcom level crashes.
Cameron Gomez
Yes, and it will.
But remember user, we are at Nov 13 1998 on your chart.
Adam Gonzalez
>Many people here have invested in Cardano because of the scientific mentality it claims to be based upon. However, I am very concerned by the actual product they have — which at this stage, is basically equivalent in function to a PoS Litecoin. They promise to create a smart contract platform, but there is no public code for this, no testnet and no release.
>Cardano is vaporware. And yet right now it is valued at $33 billion - more than SpaceX, which is valued around $22 billion, and also actually does something. There is no good reason for it to be valued this high. If it had a working product, maybe. But it doesn’t.
>I am very worried by this amount of speculation, and I would take it as a warning sign for the market as a whole. This market is becoming more irrational by the day, and it may just come crashing down.
What do you think OP, this insane alt run is literally a greater fool exercise of musical chairs. Even the fucking retards on reddit are realising this.
reddit.com
Joshua Reyes
>the tech behind crypto is already proven to work. there are so many alts some with already proven and/or working products
This is so fucking deluded, most of the market is made of pnd erc20 tokens lel
Joshua Thompson
If we have another GFC people WILL move towards crypto. In this scenario the real bubble will be seen. If ripple wins I will neck myself.
Cooper Hernandez
this user gets it
Crash coming soon
GTFO ASAP
If you're too stupid to see Ripple 20x'ing in two months, going to a market cap /3 the size of fucking AAPL, which literally sells devices used by almost every dumbass on the planet, I don't know wtf to tell you
None of these coins are used by anyone for anything except speculation, and they will never be used for anything in the future
This marketing meme new-paradigm bubble will crash down to fucking ZERO
Cameron Walker
>Elon Just
Even after firing rokets cant get on the level of a random shitcoin
Cooper Flores
No, a better analog would be a housing bubble. The value can inflate and end up crashing down, but you still have the assets and they can re-appreciate their value. In a stock bubble the company being over valued almost never survives and everyone loses their money.
Jaxson Morris
well, cryptocurrencies cant go bankrupt
Justin Sanders
It's in a bubble now, but not as high as the dotcom bubble yet.
Back then there were companies valued over $6 billion ($8 billion in today's money) with no profits and actually losing money.
>forbes.com
The bubble got over $7 trillion before popping, which is around $10 trillion today. And it was just over internet companies, which are less transformative than what crypto will bring. Crypto will disrupt every industry. There will be a crash to shake out the shitcoins, but the good coins will bounce back.
Kayden Cox
Exactly like the tech bubble. All the good companies survived and the shit ones failed.
Jeremiah Taylor
>There will be a crash to shake out the shitcoins
Pretty much this
Isaac Bennett
Is it on Binance?
Lucas Martin
Here's the NASDAQ 100, in other words, the dot-com bubble.
You'll notice that it's back up to all time highs, and it only took 10 years.
The crypto bubble rose up 5 times as fast, and it'll come back up 5 times as fast (2 years).
If you're invested in coins that are based on solid fundamentals, with good economic models, you can expect to get about 1.5x-2x your peak bubble value back.
If you're in Veeky Forums shitcoins, you're gonna end up with nothing. Pick coins based on the idea that the crash could happen any time.
Brayden Long
Also, Apple has a $885 billion market cap while Ethereum has $92 billion. What do you think is more transformative, Apple or Ethereum, which has an ecosystem of tokens that will disrupt every industry?
Chase Flores
>equating property interests in a finite, scarce resource necessary for survival (land) to fucking meme coins
this is why the market is so out of control, people are actually buying into the new paradigm shit
I thought it was pretty wild to see btc explode as much as it has this year, even though every single bitcoin is backed by an ever-increasing amount of electricity (currently in the thousands of USD) secured through open sourced code. Seeing literal shitcoins, especially shitcoins that advertise the proof of stake meme, go 10x in days just means that the crash will be faster and harder.
I've been trading 16 hours per day the past month and made a fortune off the various pumps, but im all in cash and the safer coins now (btc and eth) because I want to protect my capital. I've got no intention of being like the rest of Veeky Forums and waking up one day to a portfolio down tens of thousands. It is absolutely inevitable that it will correct the question is just whether you will be greedy enough to still be in when it does.
Mason Jackson
On the long-term legacy of the bubble, venture capitalist Fred Wilson, who funded dot-com companies, said about the dot-com bubble:
"A friend of mine has a great line. He says 'Nothing important has ever been built without irrational exuberance'. Meaning that you need some of this mania to cause investors to open up their pocketbooks and finance the building of the railroads or the automobile or aerospace industry or whatever. And in this case, much of the capital invested was lost, but also much of it was invested in a very high throughput backbone for the Internet, and lots of software that works, and databases and server structure. All that stuff has allowed what we have today, which has changed all our lives... that's what all this speculative mania built".
Evan Martinez
It's already happened: bloomberg.com
2018 is going to be big for crypto - corporates got on the hype train in 2017 and made bank and now they are new believers in the crypto cause. And, just like in the .com bubble, they are mostly clueless about what they are buying into.
The .com bubble was not a bad thing, per se. It parted greedy idiots from their money, and flooded the tech industry with a super abundance of cash to develop next gen tech. Just like the link above, if you started a business with e- in front of it, someone wanted to buy into you, even if you had no product. That's pretty stupid. But it also meant that, if you DID have a product - it was easy to get financial backing. That is a good thing, and the internet is hardly dying in the years since the bubbles popped, is it?
In short, it's good that fools over-invest. It ensures capital for the important developers. Sure, conmen and chancers take a slice, too. But getting money to foundational next-gen tech is worth it. Crypto is undergoing the same thing now - every newfag nocoiner is rushing into every new ICO now because they only see the "0.00004"s, and don't look at the underlying value offering. 90% at least are transparent PnD - and many investors are investing because they know it's a PnD. However, the ones that survive are the ones that utilise their new coins in an innovative way.