Re:Bitcoin Blows Past $9,000
by charlesdm on Sunday November 26, 2017 @04:44PM
(#15783192)
The entire market cap of crypto is around $250bn at the moment. The .com bubble went up to $6.7 trillion before correcting back down to 1.7tn. In todays dollars that's close to $8tn.
One can only hope this will be "the next" .com bubble -- there will be money to be made. Given the amount of liquidity that was pumped into the market by the fed, it will be interesting to see what stops this train.
The more and more you look around, money isn't worth anything anymore. Like that recent Leonardo Da Vinci painting that was sold for $450m. Assets and companies selling for a 10-12x multiple, excessive property prices in prime locations, etc. Asset prices have been driven up significantly across the board.
Re:Bitcoin Blows Past $9,000
by yyyyip on Monday November 27, 2017 @12:11AM
(#15785006)
Yep, it's like Fiat currency is some crappy thing poor people use to live on while the rich accumulate actual scarce resources with infinitely appreciating prices.
Re:Bitcoin Blows Past $9,000
by charlesdm on Monday November 27, 2017 @06:06AM
(#15786457)
There are advantages as well though -- for those being able to create assets (companies, profitable products, etc), those will generally sell for a higher multiple than before.
One can only hope this will be "the next" .com bubble -- there will be money to be made. Given the amount of liquidity that was pumped into the market by the fed, it will be interesting to see what stops this train.
The more and more you look around, money isn't worth anything anymore. Like that recent Leonardo Da Vinci painting that was sold for $450m. Assets and companies selling for a 10-12x multiple, excessive property prices in prime locations, etc. Asset prices have been driven up significantly across the board.