Parabolic?
Now that the bear market is over, more than half of the news articles about crypto are about price action. Bitcoin breaks 5k! Ethereum bullish above $160! Blah Blah Blah.
We are once again (always?) surrounded by the folly of greed. This kind of thinking traps us into playing zero-sum games where there must always be a loser instead of all of us working together to build a better future.
I think it's very odd that the speculators are always throwing around the word parabolic to describe what we are seeing when it comes to how much value is being captured by the cryptosphere. Can someone show me that equation? From $0 to $180B market cap in ten years?
The growth in this space has always been exponential, and there is a very good reason for that. Value can't be leeched out of the system through inflation because the underlying community controls the inflation.
The market cap will reach the mythical 8 Trillion dollar market cap of gold, then it will continue to double, and double again, and again and again, just like the rest of our tech industries.
The vast majority of people in the world are not going to capitalize on this emergent economy at first. People don't know how to save money; they only know how to spend it.
I got my roommate very interested in crypto. Meanwhile he buys a new car and a huge TV on a meager salary. I'm constantly asking him wtf he is doing. Buy $1000 worth of crypto and hold it... for the love of God. Nope, not going to happen.
When it really comes down to it the common folk aren't going to benefit from crypto until they are getting paid to work. Every corporation will have their own coin at this point and they'll all be trying to convince everyone that theirs is the one true coin while everything else is garbage.
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 | $3200 | $6400 |
| Jan | Feb | Mar | April | May | June |
|---|---|---|---|---|---|
| $3467 | $3733 | $4000 | $4267 | $4533 | $4800 |
| July | Aug | Sept | Oct | Nov | Dec |
|---|---|---|---|---|---|
| $5067 | $5333 | $5600 | $5867 | $6133 | $6400 |
Why would you ever invest in anything when there is another asset out there consistently doubling in value every year?
The housing market will almost certainly take another hit as it will no longer be the smartest way to store value.
Conclusion
Regular people always get fleeced so matter what.
Sad but true.
All we can do is try to educate the newcomers and tell them what's what.
Unfortunately the vast majority of newcomers will come in again at the peak of the next bull run and lose everything. Seek to avoid this inevitability.
Too true man, they are left holding the bag of those taking advantage of people. I’m still not entirely sold on this being the end of the bear market though. Sure prices have gone up but they can just as easily plummet back down. I’m in a far better position if this is an end to the bear which I’m happy, I’m just not quite sure.
We’ve all got friends that spend money in stupid manners. I had a friend ready to spend 500$ to get into crypto with some small purchases of a few coins. What did he do instead? He bought another damn dog. I was like wtf man why the hell did you do that? So dumb.
ha, wow, and a dog costs a lot more than $500 in the long run
Dogs have specific uses as well, I'm sure you might acknowledge. A crypto portfolio will not rip the throat out of a home invader forcing entry into your young daughter's room - but then, neither will a Lhasa Apso.
I'm not gonna invest in a dog either lol.
I just stopped talking about it.
People think Im a fool.
I will send them a postcard from a beach "from the fool"
;)
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It's been said that living well is the best revenge. Nothing would be sweeter than to prove that adage true =)
Like other developing technology, the next phase will grow at a more modest pace and really only benefit the projects that have a working and viable concept. I think the days of raising millions with only a whitepaper are over.
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A legend says that there was a guy that bought a roll of toilet paper once for 2$ in 2010 when his friend was telling him that he was crazy if he didnt invest those 2$ in Bitcoin.
The guy answered: "But what am i going to wipe my ass with?"
Today his ass might be clean, but its poor as well.
Dont be that guy.
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Who said the bear market is over? ...
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