[Blockchain Story # 2] My opinion, Comparision with Japan's bubble economy and cryptocurrency

Hello, everybody. This is eunkwang (leetyt2).

Today, I would like to write my opinion about cryptocurrency.

I personally like history. Since history is a mirror of the future, we can complement the future through the past results. Have you ever heard of Japan's bubble economy?

For reference, the video below is a Coca-Cola ad that illustrates the situation of the Japanese bubble economy in the 1980s.

In the 1980s, Japan is not much different from the present, which was highly developed.
That is the simple result that we are experiencing Japan's 1980's now.
Simply calculated, the development of Japan and our country is about 30 years apart.

However, in the 1980s, the Japanese economy was bubble, and the bubble was turned off.
More information can be found on the Wikipedia below.
https://en.wikipedia.org/wiki/Japanese_asset_price_bubble

Briefly,

Plaza agreement → appreciation of yen → Real estate investment → Real estate bubble → Real estate bubble → Japanese land price is 50 times higher → Bank interest rate cut (loan cancellation) and land speculation in municipalities → Government loan regulation
At this time, a lot of people who want to sell the swollen land and pay for the bubble are asking the bank for the money, and the banks will not be able to afford it.
As a ridiculous sound, when we sell all the land of Tokyo in Japan, there will be 20,000,000,000,000,000 yen, which is enough to buy the entire land of USA.

Considering these historical facts against the cryptocurrency storm now,
I think we have to think carefully about whether or not there is a bubble on cryptocurrency.

On December 06, 2017, a newpaper published the following article.

"Bitcoin is a dangerous and systematic bubble"
An economist at Yale University in the United States has defined bitcoins as bubbles and warned them to keep an eye on their investments.
CNBC said yesterday that economist Stephen Roach, a Yale economist, compared virtual currency to a "dangerous speculative bubble."
Professor Roach, one of the most influential economists in Wall Street, defines virtual money as a bubble and describes it as "a very addictive investment structure."
Professor Roach added that "Bitcoin is a bubble hidden in the invisible imagination" and "It looks like a beatcoin price graph is born." He showed strong suspicions about the price volatility of virtual currency and bit coin.
In fact, many of the bit coin investors do not even understand the technical principles of bit coin and block chain. It is simply looking at price increases. Professor Roach said, "It is no different than a bubble," he added.

https://www.cnbc.com/2017/12/04/bitcoin-is-a-dangerous-speculative-bubble-yale-expert-says.html

The bubble here is investment which does not fully understand the technical principles of bit coin and block chain among bit coin investors.

To make the right investment as a cryptocurrency person, you need to understand the bitcoin and the blockchain technique a little bit, and there are several kinds of coins that you can study to see how the coins are organized, circulated and valued .
Otherwise, we will make our own bubbles, and the meaning of cryptocurrency will fade and become bubbles. That would be a negative for those who actually invested in the spot.

Virtual currency, block chains, and bit coins all originate from the key word transparent sharing.
That transparent sharing is to preserve marketability and to make realization of virtual money.

I have not fully understood many virtual currencies yet, but I am reading and studying Internet articles and books.

As a simple conclusion, I have a positive view of cryptocurrency. This is because there are many people who are studying in this field and who are developing. However, it is under the premise of transparent sharing.

Let's study together. ^^

Thank you.