https://en.wikipedia.org/wiki/Dot-com_bubble After reading this page i also went and looked at some of the articles from back in the day and it all made for interesting reading. The staunch supporters sound very similar to those that i am hearing today. Some people back then were also using previous boom and busts as example to which the staunch supporters said "this is different". I have a foot in the water but as a money maker not a lover , so as always remember DYODD
Just to be clear i am not bagging crypto , it has made people very wealthy. But let us be honest with each other, if you can not see (or refuse to see) the similarities then you may be in trouble. If you can see the similarities and put money in anyway then chances are you will be more aware than many and come out smiling at the other end.
Hell man, this never ended. A common term used for these stocks is "Unicorns". Mythical beasts who can fly without wings. Just take a look at the top tech stocks today and what P/E they are sitting on. Yep, still sounds like the stock market today. Don't get me wrong I agree with you and I can see the parallels. Having lived through the dot-com boom/bust with an IT business from 1996-2002 I saw the coal-face first hand, but I wasn't playing the stock market at the time. But many will (correctly) cite that crypto is currently only a fraction of the market cap of the dot-com boom. It is quite possible the crypto boom will be just as big or maybe bigger - especially if we are talking major disruption to the financial sector. For me it's all about riding the boom and doing it intelligently to avoid the big pitfalls. It's never a straight line up. Tough to do it right but definitely worth the effort so far
Amazon in the dotcom boom verse todays prices. I seen this photo floating around and it put things in perspective. HODL.
Yes, everyone knows the value of picking the eventual winner. But what about all those others who went to zero?
Well THIS IS DIFFERENT, is that what you would say soprano? I said above that this is "similar" to the dotcom bubble but i now think i understated that and it is IDENTICAL> I am all for making money while it is possible but seriously how many of these current coins will survive? How much is "commerce one" worth from its previous $21 BILLION value? What about "global crossing" and its $47 odd billion dollar value? Just because lots of money is involved does not make it legit. Lots of people will get rich but a lot are going to lose a heap. I say get in when you can and make hay. The likes of southern cross is a die hard supporter exactly like those during the dotcom episode. I hope it does not all come tumbling down , but it is going too.
No, I would say there is already a thread about the crypto bubble https://www.silverstackers.com/foru...g-the-crypto-bubble.87398/page-7#post-1041919
