Re:Beyond the boring blockchain bubble
by mrb on Monday August 07, 2017 @02:06AM
(#14945628)
Well, Bitcoin is such an outlier. $1 invested in April 2010 would be worth $1 million today. A insane 1000000x ROI over 7 years. It's nuts. No other investment opportunities even come close to that so it's very, very hard for most people to avoid greed and envy. Not sure what the solution is.
[ Parent
| on HN ]
I was going to buy $3000 worth when it was $10 and I was talked out of it. The only way I sleep at night is knowing that I would have sold it when it hit $20.
even better than the founders seed stage of Uber $200,000 -> around 20% of $65B ($13B)
$1 -> $65,000
I can beat that. $7 got me gameplay.com. That sold for $70K. That 70K I put into ww.com, which got me $1M. That's about twice as good an ROI.
Hah, did you sell it to the UK video games retailer? I used to buy from them all the time. Funny to know where the domain originated from.
Yes. Long negotiations with some lawyer and then finally someone from the company called and we had a deal in 10 minutes.
The solution is for the market to correct itself (if it is thus insane as claimed). If that happens it will be very very hard for the greedy to find buyers or sympathy.
Why would the market correct itself? What could possibly cause a crash, short of some kind of catastrophic security vulnerability being discovered, or hostile regulation in one of the core markets?
Because tulips?
It was funny to compare Bitcoin to tulips back in 2010. However the Bitcoin ecosystem has now sustained impressive growth—by all metrics—for 8 straight years... I think we are past the "it's tulips" stage.
When someone asks Why would the market correct itself?, the comparison with tulips seems completely appropriate.