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RE: Selling Crypto Now is as Crazy as Selling Apple in 2001, Be Careful
I'm really getting tired of the old Dot Com comparison. From my point of view, these two events are nothing alike.
Imagine if all those dot com companies were open source. Imagine if money from the top dot com business constantly trickled down to the smaller projects. Imagine if some of those dot com companies got so much funding that they could work on their projects for the rest of their lives. Imagine if the dot com businesses were trying to solve the biggest problem the world has ever seen: the control and subsequent corruption of currency.
Until proven wrong, I will maintain that the outcomes of these completely separate events will diverge into a totally unexpected series of events.
crypto has no history to go by, a big part of investing is historical data. This crypto market is trailing the tech boom with 87% accuracy, and at this point is around 1995
As you say, there is no data, so using another data-set and lumping them into the same group under the banner of "tech boom" is going to yield some very incorrect extrapolations.
Not only is the tech completely different (doesn't matter that much), it's the very foundation of the economy that's being disrupted (matters a lot). Competitive capitalism is a completely different sphere than cooperative capitalism. You can't mush them together. Cooperative capitalism is a model that has never been seen, ever.
Cryptocurrency becoming mainstream would be like watching the Native Americans develop technology without having to worry about getting slaughtered by imperialists. They didn't even understand the concept of land ownership. The world has only ever known competition and debt-based slavery. To claim to know how this is all going to turn out is ignorant and delusional. Ignorance and delusion are business as usual if you consider the times that we are living in.
There not the same. The analogy was about one specific aspect: selling before it goes big and missing out.
A lot of people think they are pretty much exactly the same.