Post
Topic
Board Economics
Re: Ill give you 1 tulip bulb for 6 bitcoins
by
myrkul
on 11/04/2013, 22:28:56 UTC
The dotcom bubble was never going to kill the internet, it was just going to result in billions of notional capital going up in smoke resulting in economic devastation which in turn lead to the governments and central banks rigging the game to create a another credit bubble to 'save' the economy from the dotcom crash. This time the bubble was based upon real estate.

And the "bitcoin bubble" could never kill cryptocurrency. Are we seeing some irrational exuberance? Yeah, probably. But 10, 20 years down the line, when shit has settled down some, the fortunes lost - and made - will be seen as they are: simply the cost of any new technology. There are always going to be those who see something like this and think, "Holy shit, this is the best thing since pancakes!" And it is, make no mistake about it.

But if you sell your house to go "all-in" on something this new, don't be too surprised when you need to ask to move back in with Mom. Get rich quick schemes never work out as planned.