Re:It can all go to zero
by adventured on Tuesday January 16, 2018 @01:49PM
(#16160925)
It was a lot worse than that. Most of the financial drop did not occur in the junk dotcom stocks, that's a myth.
Cisco went from ~$550 billion to ~$50 billion.
That was a real business with billions in profit. That single drop is nearly greater than the value loss in all the junk dotcom stocks combined. There were dozens of real businesses that were massively over-inflated, from Intel to Microsoft.
Oracle went from ~$200 billion to ~$35 billion. Again, another very serious business with substantial profits.
So how about Bitcoin goes to $3,000 to $6,000 and stays there for ten years? Impossible! everyone will cry.
Cisco went from ~$550 billion to ~$50 billion.
That was a real business with billions in profit. That single drop is nearly greater than the value loss in all the junk dotcom stocks combined. There were dozens of real businesses that were massively over-inflated, from Intel to Microsoft.
Oracle went from ~$200 billion to ~$35 billion. Again, another very serious business with substantial profits.
So how about Bitcoin goes to $3,000 to $6,000 and stays there for ten years? Impossible! everyone will cry.