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RE: The Coming Altcoin Exodus

in #bitcoin7 years ago

I heavily disagree with this assessment, but I respect the time you put into it and I know this is something you've thought a great deal about over time. My issue with it is that bubbles aren't due to information disconnects - Most people know that Bitcoin and cryptocurrencies are a bubble, even many ardent believers like Andreas Antonopoulos. The reasons bubble form is due to human nature and I don't think ANY technological innovation will change that, not even the internet. In fact, I think it magnifies it. Most people are lemmings. They buy into the hype and they sell into the dump. It'll happen, that I have zero doubt of. But unlike many other gold bugs and other naysayers, I'll dabble for two reasons:

  1. Plenty of money to be made if you're cautious
  2. Bubbles, while awful in how they often turn out, can accelerate the growth of a technology as they bring in new talent to the field.

So many new people know about Bitcoin because of its price. Even when it pops, we will have thousands of developers in blockchain just because of it and they won't want to leave.