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Originally Posted by Trolly McTrollson
It also seems pretty obvious that we're in a crypto bubble aorn. IPOs for new crypto coins no one understands are generating seven figures in minutes. Sure looks a lot like the pets.com era to me.
There really is no other way for it go down. I think we're definitely in a pets.com era. But remember, Google and Amazon came out of that era too. All these ICOs are laughable when looked at in the aggregate, but there might be some Googles and Amazons in there. Or, maybe there are none and bitcoin will totally dominate the space.
There is a ton of variance and risk here. It's one of those things where cryptocurrency will either grow 10,000% from where it is now, or it will shrink 99.9%, or something. And bitcoin may be the myspace of cryptocurrency and we haven't even seen the facebook launch yet. It's complicated and it will be messy before there is any certainty. But there wouldn't be any potential value if it weren't messy or if there were certainty.
What convinced me to hedge a bit of my investments into this space is the anti-fragility of decentralization and the extreme fragility of centralization. Remember 2008? The current system is super fragile. I think it would be extremely foolish to not have a hedge on such a fragile system. Cryptocurrency is the only thing I know about that is actually trying to address the fragility of the current system—a very worthwhile goal IMO, whether it works or not.
All I know is that if cryptocurrency succeeds, it will have massive political implications. I just don't understand what those will be just yet. I made this thread hoping someone could help me think it through. It's probably a bit early to expect that, however.