To return to my dotcom bubble analogy, yes, bitcoin = world.com, pets.com
(Partly) quoting my response from the wall thread...
I can't be arsed to take this discussion any more serious than I do until you come up with some more insightful comparisons than "Bitcoin = pets.com". Same idea as the claims that "Bitcoin = tulip bubble" or "Bitcoin = beanie babies".
There's really no point in arguing with someone who equates a major technological achievement that has half of the computer science world and a few percent of the economical world excited with an online store for pet food,
even if both of them underwent a speculative mania phase.
"VC doesn't really invest in bitcoin the currency."
We know that. But they invest in Bitcoin infrastructure. If you consider that to be bearish, long-term, be my guest.
"Big money invested during the dotcom bubble as well. Shows how stupid they were."
Hardly. Unless they went all-in on pets.com, they made out like bandits in the longer run.
"But that's exactly what Bitcoin is! Pets.com."
Well, yeah. That's just, like, your opinion, man. Just as an example, I don't remember major CS departments all around the world getting all excited about pets.com, introducing courses on the pets.com technology, theses being written about the intricacies of pets.com.
But you probably fail to see the significance in that. Which is fine. That's where my speculative profits come from.