RE: POW Mining – Time to Get Out?
Huh - I guess I shouldn't be surprised by this but wow. I still think a lot of this comes down to herd mentality. Folks see others having particularly incredible success and fail to take into account a significant first mover advantage that may have played a major role in the person.
That being said, in a perhaps too Machiavellian view, I think there's an investment opportunity in stocks of companies that touch upon crypto mining parts manufacturing. TSMC has started to add crypto miner revenue into its earning calls and Nvidia is facing a limitation in video cards. My bet would be that even if there was a dip in crypto valuations - mining demand would lag that deep as folks see an opportunity to gain "share" in the market. A potential hedge to cryptos...?
(Or if people could just be a bit more rational that'd solve a lot of this!)
I think you're right about the herd mentality aspect of things, and when you couple that with the romantic overtones that "mining" has - we all know about the gold rush and how the possibility of hitting the mother load was a magnet for gold miners in California in the 19th century - then I think we've got a double fun emotional attraction that is hard for many to turn down.