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     7 years ago 

    Yes, it is still early in the game with the difference that the mainstream wave is coming. A bit out of place here (because technical analysis in the article, not fundamental) but consider the following:

    • the world has a debt problem
    • for every $1 debt there is a holder of a claim of $1
    • this huge pile of debt cannot be repaid ever
    • the debt's value (the aforementioned 'claim' part of the debt) solely rests on faith: faith that debt will be honoured
    • Central Bank actions have prevented (too many) debts not being honoured
    • Central Banks are running out of road
    • once confidence in debt truly vanishes, all paper claims based on debt will suffer too (paper burns)
    • if (and that's a big if) confidence is mostly lost in government debt, wealth will flee to private markets en masse
    • debt will be 'out of vogue', 'equity' will be in vogue. Counter intuitive, this could benefit stocks as well (the 'private wave')
    • decentralised cryptocurrencies are as private as it can get (value solely based on market forces)
    • collapse of trust in public sphere (bonds etc) leading to a massive flow into private sphere: the 'private wave'; this is what Martin Armstrong describes in his Dow Jones 40,000 scenario
    • such scenario - a breakdown of trust in the public sphere and a massive move of wealth towards the private sphere - is exactly what could propel a tiny market as cryptocurrencies to unbelievable heigths

    Of course, this is more make believe than real theory - for now - but interesting to ponder.

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