Why was this so damn right? Why do people fall for it every. single. time. When will they learn?

Why was this so damn right? Why do people fall for it every. single. time. When will they learn?

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youtu.be/FTvfshr4tMw
youtube.com/watch?v=6fVE8kSM43I
youtube.com/watch?v=JZYZoQQ6LJQ
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you can apply that same chart to Amazon stock price, same chart shows up 50 times when you zoom out.

First sell off
Seriously.

babbies first brownian motion

>yfw the the crash is the first sell off of the next wave

this

media attention was crazy though

Not really. I didn't see anything but negative attention. 9/10 people I talked to irl told me something to the effect of "Bitcoin = Tulipmania" or "Bitcoin is a scam" parroting what they were told by (((Bloomberg))). From the general public, there was merely awareness, not full-blown mania.

Because it was posted every week during the rise.

if you look at this memechart in log it confirms this

why tf are you retards looking at things with linear

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You're a special kind of retard. Every major fucking media outlet, from local city ones to global ones like NYT reported on BTC.

Bet you're one of those pieces of shits who didn't listen to biz to invest in ETH/BTC early or to short once it was rising past 15K.

KYS

Lol that you don't think the December run was parabolic.

Even CNBC was shilling BTC and crypto in December.

"It's different this time"

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Because you always run out of new buyers.

This fucking image is retarded as the individual circumstances have nothing to do with each other.

Look at this youtu.be/FTvfshr4tMw

Only 20 minutes and see how fucking similar it is to crypto. Literally 100% the same. Even the same fucking phrases are spreading around.

It's over for crypto. But just like the internet bubble some projects will change the world.

how was it over for crypto before it ever really even began?
it was big for normies for all of like what? 4 months?
Does the world really move that fast now?

Bubble cycle 1 is over, I expect a bubble cycle 2. A worldwide epidemic of retards buying ticker symbols. The whales in the game right now are going to make sure it happens as they put so much work into the infrastructure of this shitshow

Give it a few years

Yeah social media made it spread and reach other people faster. Meaning that the bubble also grew and collapsed faster.

In the 90's it had to slowly be adopted by mass media and word of mouth which is a lot slower.

“It’s different this time.”

This already was the final "bubble cycle 2" the first one ended in 2014.

I don't expect there to be a bubble around crypto anymore. Instead there will be legitimate growth over the next 5 years like the internet industry.

Nah dude the whole world needs to get burned before people learn what this shit is. Not there yet. 2014 was a manipulated crash anyway, a bot on gox was buying everyones btc to inflate the price

A bubble crash is never caused by the same thing but it always happens the same way anyway.

"The whole world needs to get burned" didn't happen in the dotcom bubble. And more people are burned by crypto than during the dot-com bubble. Trust me, I experienced both single-handedly.

There’s less than 20 million supply of bitcoin, hundreds of million rich people own zero...

so u are telling me all the rich people want to buy bitcoin because there are only 20 million?

fuck off u fucking retarded piece of shit.

i lost a lot of money in this crypto ponzi because of biz pajeets like u . kys

No, there is far less people in crypto than there was people buying dotcom stocks, wtf are you serious

>I lost money because I listened to random strangers on the internet and this is your fault
kek

but this only felt like a bubble for Bitcoin
nobody really even knows what altcoins are or if they do it's the joke ones like Dogecoin or Coinbase ones

This is not true I even have numbers backing it up. Remember that Dot-com was mostly confined to the west and only people with a brokerage account which is only ~20% of western population and about 10% of the US population in the 90s.

Meanwhile during this crypto run every normal person actually held some crypto My boomer me. I as a Gen Xer and my Millenial 20-something nephews and nieces as well. Meanwhile Asia, south america and africa were also heavily involved into crypto.

LOTS more people actually held crypto compared to dot-com stocks.

I disagree. The December bullrun was mostly on alts such as Ripple, TRON etc.

Sure nobody actually read any whitepapers and picked out quality coins or even understood how marketcap worked. But that doesn't matter. It was completely the same during the dot-com bubble.

My boomer mom and dad*

okay yeah Ripple and TRON
does anyone know what DASH is? or EOS before le current year man talked about it? or REQ or LINK or OMG or any of the other promising alts?
It feels like only a fraction really saw a bubble and the rest just kind of got roped along

Yeah that's how bubbles work. Not every internet stock saw 1000x results either. Some just get some more publicity or word of mouth making them grow faster as the others get roped allong until it all crashes.

Most crypto will actually die just like during the dot-com bubble. I don't think BTC will survive this one honestly.

REQ LINK and OMG might actually survive though but they still have a lot to fall before they will go back up.

so the only reason Ripple mooned big was because idiots thought it would rise like BTC?

t. IT'S ALL OVER, $1 BY EOY poster in january

It could go even bigger thank 20k but then came the gox bearwhale who killed fomo and after the fall normies realized it's too late to get in early.

Yeah that was actually the case. I have had more than 6 people that I work with actually tell me that "Everyone is buying ripple now and it'll be $10,000 like BTC in a couple of years".

Then I told them about the amount of ripple there are in existence and they just said "Haha guess we'll see who's right, people also thought BTC would never hit $10,000!". And I just gave up trying.

Almost no normal people I know held actual BTC it was ripple or tron and maybe litecoin.

>these three erc223 shitcoins may survive but ethereum wont

how did TRON of all coins get so much exposure to normies?

Can someone refute the log scale thing? It does make it look like first sell off on op chart

I never said ETH won't survive. Also these particular ERC20 tokens all have plans to scale to their own blockchain if the need ever arises which is why I specifically mentioned them.

ETH is a very inefficient platform but it will survive if some of the dapps created on it will actually be successful and provide real utility to the economy. Otherwise I see it going down the shitter and a far better alternative taking its place. Probably a platform that doesn't even exist yet.

Word of mouth and promises/potential. Coins like REQ LINK and OMG all have a very particular market and goal they want to achieve. This limits their potential but makes them a far more likely project to succeed.

However in a speculating bubble market it's not about how good a project actually is. But what the potential/promises of it actually are. Since TRON was pure marketing and hype and really vague on what it was actually going to do people were just buying it on that alone.

This was also Theglobe.com which said they would "connect all people on the globe with each other" without any actual technical way they would do that. It was the most successful IPO in history at the time. And the company was valued multiple billion dollars within days.

I feel like TRON is the "Theglobe.com" of crypto.

>first sell off.

GOD I LOVE YOU

Nebulas seems to be the best candidate to replace ETH right now

No if ETH is going to be replaced by another platform it will likely not have been made yet.

For some reason if you look through history the actual companies/products that tend to replace companies that were big during a bubble tend to be started/made almost exactly 2 years after the bubble collapsed.

For the internet this was Google which started publicly trading 2 years after the internet bubble collapsed and replaced Yahoo which was huge during the bubble itself.

unironically this but it will take 2 years to reach all time high again

idioic discussions about ETH scaling itt. none of the other platforms are proven (on the contrary actually, they crumble under load). shit like EOS and ADA don't even work at all.

ETH is the only product actually running multi-million dApps. All you late adopters trying to chase the next big thing will never come. ETH is better at being bitcoin than bitcoin itself. Did it replace bitcoin? No. Early mover advantage is everything.

This is correct. I also don't think there will be a bullrun ever again on crypto. Instead it will have moderate growth from the bottom onwards like the internet industry. Expect 10-30% growth a year.

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Kek, I got into crypto at "Enthusiasim"and unfortunately sold at "Return to Normal". Made a quick $13K and pulled 10K out.

Glad I did, that $300 I left in is now $170.

At this point I would love for it to be 100% predictive and give us dirt cheap BTC in the 'despair' phase. Would go to work hugely motivated knowing I could buy several BTC per month and that it would eventually smash through previous ATH and retire me.

Sigh. The Crypto 'bubble' hasn't even begun yet. We're fucking years away from it becoming so well established/stable that what you say will be the case.

Eventually you'll be right but you're way premature.

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adjust inflation for dotcom bubble and compare that to crypto

crypto is laughable in size compared to the dotcom bubble

This doesn't say anything. Some technologies are just more promising than others causing them to be valued more than others.

Not all bubbles follow the same trajectory obviously. The internet had a lot more potential than crypto ever had. Crypto has about 10% the potential of the internet which is about right if you compare the height of the dot-com bubble with the height of the crypto bubble.

is blockchain technology as revolutionary as the internet though?

Unironically, yes.

How so?
I want to believe.

Can confirm

exactly

Pajeet detected

youtube.com/watch?v=6fVE8kSM43I

Complete decentralization of any process and financial stream, with near 100% network security. Its cheaper and more efficient, thus it will be mass adopted globally.

youtube.com/watch?v=JZYZoQQ6LJQ

Believe what you want. However the internet industry was a infrastructure technology that promised connecting the entire world with each other.
>Making retail obsolute.
>Revolutionize media consumption
>Change the way we see information
>Lead to an eventual automation of every industry
>Make a global AI inevitable
>Crumble global borders as the world culture slowly melts to become one.

Meanwhile crypto offers more efficient ways to exchange wealth, better security of assets, More privacy. And unalterable ledgers of all transactions, Smart contracts.

Yeah sure these will chance the financial,security and computing branches somewhat but it will not result into a total upheaval and change in humanity itself. See the difference in potential here?

it's not so strange that crypto bubble popped at 500 billion instead of the 10 trillion the dot-com bubble popped at.

except ten years on the internet had been widely adopted but ten year on blockchain still does jack shit

Wtf ur retarded. 10 years in the Internet was expensive as fuck. More and more crypto devs are popping up and applications for everyone. Dumb fuck, do some research before posting dumb pajeet. Also we still haven’t popped, been around since 2016, I’ve seen these threads for at least 5 times already. Fucking adhd fags zoom out and chill out.

internet was widely adopted in the mid 90s?

It certainly doesn´t deserve to be evaluated as low as 3,5% of the value.

Crypto just started, 99% of them are still in development stage, not even a working product. Bitcoin is a pure mess, slow and extremely hard to use for the typical average joe, there is so much room to grow and development, right now crypto is just a whales playground.

more efficient ≠ more money
no it will mean cheaper prices
blockchain is a utility to generate more profit
it'll just dampen inflation and destroy jobs

>greed
>delusion

>efficient
>Bitcoin Mining Now Consuming More Electricity Than 159 Countries

>Total decoupling of financial streams from central banking and central currencies system.

>literally any process or service decentralized and monetized away from large agglomerized central control companies.

>not a total upheaval of humanities future

Fuck this smug retarded comic

The top of dotcom bubble was in 2000 and you're probably too young to remember but internet was huge and useful back then. Unlike crypto.

Internet was gay as fuck back then probably but i dont know as im not a disgusting oldfag like you. Go away fossilized boomer. You will never understand blockchain.

I already covered that by saying "more efficient ways to exchange wealth".

Please realize that you're only cutting out the middle-men financial institutions. This will change less than you expect. Unless you are a conspiracy theorist that think humanity is being held down by bankers or some bullshit like that.

Internet was invented in 1969 and largely adopted only 30 years later

media attention was high on computers in the 80s too, but it wasn't until like 1998 "everybody" had a computer

Oh I understand blockchain. It's a slow, shitty database with only one application - transferring money from suckers to scammers.

Truth is that Amazon is being traded at ridiculous levels. Last time I checked p/e was at 350. (Not that you know what p/e means). To put it short: Amazon is ridiculously overpriced and will crash.

But sure, if you are completely deluded and believe that todays market values are rational then go ahead and keep buying shitcoins.

good point. ask people on the streets if they have bitcoin.
i bet 99% dont and 30% have no idea what youre talking about

I don't agree with your statement here. While the p/e for Amazon indeed seems ridiculous you need to realize that they are still in the growth phase of scaling up and trying to grab as much marketshare as possible before they'll switch to their profitability model.

This has been the de-facto main economic strategy big companies have been using since the mid 2000s. Tesla,Uber,Amazon,Facebook,Twitter,AirBnB,Netflix all used/use this strategy.

It makes you grow really big in a short time to grab as much marketshare as you can and lock yourself into the market before scaling up your profitability. It's a risky strategy but if you succeed you have practically a monopoly in your space.

If you buy Amazon stock right now you are basically buying the promise that Amazon will corner the entire retail market and replace all brick&mortar retail stores + Walmart.

I know when the dotcom bubble was, but the internet was not invented when you seem to think it was

"crypto" is useless u fucking pajeet

I was shitposting and having console wars between the Snes and Sega genesis in the late 80's/early 90's on BBS.

In 1995 most businesses/schools already their computers hooked to the internet. And by 1999 everyone I personally knew had a home computer with internet.

Maybe poor rural people didn't yet but the internet was really widespread in the 90s.

p2p cash has 10% of the potential of internet businesses? something like bitcoin cash alone has more potential than the .com bubble.

>shitcoins
the volatility of the altcoin market alone is reason to invest. you sold at 7k, get over it

>Amazon completely destroying industries with the most loyal fanbase since apple and with the best CEO in modern history
>o-o-overvalued

t. boomer

Why do you even think that? p2p cash is one of the least valuable business model within crypto and is not even close to the value of the potential the internet brings humanity.

I'm semi thinking you're just trolling me with this absurd shit.

correct
the mainstream is still at the "bitcoin is that thing with the online drugs"
they never looked at ross ulbricht and the broader discussion about personal freedom is something most people are scared to engage in
when is the next asset bubble/debt bubble/financial crisis going to hit the west? three years?

something that can potentially become the world currency is not valuable? fuck off brainlet. were talking about replacing money itself.

bitcoin is one such "product", obviously
or do you believe some other crypto will replace it?

And blockchain was invented in 1991 and still has no adoption.

It's not a matter if a company is good or not, the question is how it's priced compared to its actual value. This is a classical retail investor mistake.

1999 was much more than 10 years though you turbo brainlet

define actual value

inb4 'muh dividends, muh P/E'

>define actual value
If you ask that then you're already FUBAR.

Crypto becoming the world currency is only "making financial transactions more efficient" that's all the economic benefit there is to it. Nothing more. You'll need to think about how much that increased efficiency is actually worth to the global economy compared to the fuckload of increased ultility the internet actually provided for humanity.

Also even if I believe crypto or some form like it will most likely replace fiat there won't be 1 currency instead it'll just be tokenized assets being traded instead of fiat value that represents them.

And AGAIN this has an economic impact insignificant of the multile trillions of dollars the Internet is worth. 30% of the global GDP is based upon internet business. To compare Financial institutions including all banks are only 10% of the global GDP. Even if crypto 100% completely replaces ALL financial businesses it's still 1/3rd the potential of internet.

No I'm almost 100% sure bitcoin will not survive this bubble collapse. A combination of the technology already being archaic. Lots of big holders willing to dumb on the market at every growth making future investors stay clear of it and the fact that crypto will shift from currencies to ultility will also provide a big hit to BTC's potential making it lose value and relevancy over time.

Nobody talked about "10 years" in that discussion. The point was that Internet was widely adopted and in use in 1999.

>i can define the one thing that nobody can ;^)

stay assblasted as Amazon takes over the world and your outdated generation withers and dies.

do you really enjoy going to k-mart that much?
do you really enjoy grocery stores that aren't publix that much?

Oh, and AWS runs a stupid % of the internet at this point.

it will, if deployed correctly, make it very difficult to embezzle public funds
it also empowers the individual to hide private funds effectively, like a revival of the swiss bank account
cuts out middle men in almost every industry you can imagine where information is exchanged between two individuals but a third party is needed for escrow/verification

>Lol that you don't think the December run was parabolic.
Lol that you don't think this crash is a healthy correction that is necessary for greater long term growth.

>Crypto becoming the world currency is only "making financial transactions more efficient" that's all the economic benefit there is to it.
Brainlet confirmed.