Looking around at the culture of any community associated with crypto has me very pessimistic about it's near future. Most people really have no understanding of what they are buying or what use it has. In many cases the value of these tokens is almost completely irrelevant, as the cost of the services are designed to be tied to fiat value anyways. But People race them to the top based on tweets and youtube shills without thinking.

That's why this is a bubble, because the money here is dumb. That doesn't mean that dumb people won't make lots of money here, but I'd guess that most probably won't. Eventually the house of cards gets too high, the early buyers sell and suddenly there are no buyers any more. HODL all the way up and all the way back down again.

I get the sense that a lot of people are putting in way more than they afford and many of these people are lower income people who have been squeezed by the rising cost of living since QE was implemented and haven't benefited at all from the recovery because after 2008 and the HFT scandals most people don't trust the regular markets, they are being priced out of traditional assets like homes... Speculation has even driven up many collectibles.

People have some vague sense that crypto is the opposite of wall street and banks. Well guess what? Many of you are those people now, blindly buying and selling things you don't understand or even care to understand beyond just enough to have something you can say at a party because you think it makes you seem smart.

People chasing pump and dumps and Jordan Belfort memes lol. This was meant as an answer to 2008?