Quote from: Alonzo Ewing on April 09, 2013, 08:16:33 PM

Yet very few people actually made money on it. Certainly not the average joe. 99% of those dot-com mania companies don't exist today. One of the intents of my post is to say that, yes, something can be super-

I enjoyed your post, but this is false. Thousands, perhaps tens of thousands of new millionaires were minted. I personally know several who made a fortune during that time. Some may have blown it afterwards, but that's another story.

And while I appreciate with the message behind your post, I also think your timing is off by a year or two. We are at the *very* start of this Bitcoin mania. Plus, there's a critical difference between Bitcoins and dotcom stocks. It wasn't the case that with each new dotcom stock owner, the dotcom boom became a better system. But in the case of Bitcoin, each Bitcoin adopter increases the network effect, which is critical for currencies and payment systems. So if the worst thing that happens is that Bitcoin is worth $300 after 10 years, then it will be a huge win. Flat earnings are a bad thing for Cisco, but for Bitcoin flat "earnings" would signal the consolidation of its place as a global currency.

Nonetheless, I personally think it will go up to somewhere between $1000 and $10,000 before it levels off, but then again that's what I've thought for several years would happen if Bitcoin were ever to gain mass adoption. So if Bitcoin is gaining mass adoption -- and I think it is -- then my instinct tells me it's still massively undervalued. This is why there is such upward momentum now.

Finally, Bitcoin has already survived one crash. If another one comes, only one thing will be different this time for me and many others, which is that I'm pouring money into it if that happens. Because I spent a lot of Bitcoins toward the end of last year, I got caught with my lowest Bitcoin holding in 2 years when the price started to rapidly rise a few months ago. I won't let that happen again, for sure.