You are viewing a single comment's thread from:
RE: Are crypto assets like real estate? Is there a bubble?
If there is a community behind it then it will always be valuable. The subculture / street credibility effect.
If there is a community behind it then it will always be valuable. The subculture / street credibility effect.
I don't mean they will go to zero, that just doesn't seem to happen. But they can lose the vast majority of their purchasing power and become obscure and irrelevant. MySpace was a powerful subculture worth billions, now merely a few million.
Myspace is still used. Also that is a horrible comparison.
MySpace is still used but how happy would you be now about having invested in it in its heyday?
I'm not sure why you think so. Are you arguing that cryptocurrencies could (individually) not become obscure and irrelevant? Or that they would maintain their purchasing power even in such a case?
Cryptocurrencies aren't companies. And the value is subjective. What is a Bitcoin worth? Whatever speculators decide.
It's true that cryptocurrencies aren't companies. But company share value is also subjective and often speculative. Is that really your basis for believing that cryptos can't become obscure and worthless?
I think it depends on the crypto and why it is created. Coins which just are currency are going to be the ones that become worthless but a lot of them actually do stuff so it depends. A currency with a community attached wont be worthless. In any case, I think the shakeout is natural and money will flow to better tokens over time.
Then we're in agreement.
My only point of contention would be that a coin can have a community now but none in ten years, or a very obscure and small community.
True, the problem with having stupid designs for technology is they don't evolve with the times. I like Tezos and Tauchain for a reason. In nature the species best able to adapt is usually the one to survive the changing environment. In a fast changing environment it is adaptability and evolvability which count.
Look into Tezos and Tauchain as soon as you get a chance if you're into the long term game.