Re:Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000
by cglace on Saturday December 23, 2017 @10:18AM
(#15994426)
Everyone did not think either of those things. In fact most people saw a lot of value in both companies and used/invested heavily in both.
I've followed bitcoin from the beginning and personally think the only problem it seems to solve is a way for techies to get rich quick.
Re:Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000
by zenlikethat on Friday December 22, 2017 @10:44PM
(#15992782)
If "everyone" though Netflix was "useless", then its win came out of the blue. Meanwhile you're trying to argue that the current hype around Bitcoin is justified because of something that _might_ happen in the future. There were a lot of massively over-hyped Internet companies too. They _could_ have developed technology and a big business. But the opposite happened - they went bankrupt.
Re:Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000
by coralreef on Saturday December 23, 2017 @12:14AM
(#15993034)
I'm sure some very smart people saw a path to internet streaming distribution and negotiation leverage with their content base.
I don't know if the hype/price is justified, I just know cryptocurrencies are going to change the world. It seems to me that something that important is probably worth betting on, and not against.
Everyone thought Amazon would never make a profit until it revealed the profit monster that is AWS.
No one can predict the future, all you can do is take the information you have available today and come to your own conclusion. If you don't understand the implications of cryptocurrency on society and money, then that's your loss. If you think you do understand it and believe otherwise, then go ahead and short everything and go make some profits against it.