I totally agree.
Thing with those people is that they’re talking about Bitcoin. They’re not talking about Ethereum, or Ripple. They’re not talking Altcoins, except Novogratz in that quote but then again he is talking cryptocurrencies like Bitcoin.
And they’re all right. Aside from the fact that we are closing in on an ever more possible cryptocalypse (twitter thread by a genuine crypto currency authority), those cryptoes like Bitcoin have no use case. None other than the digital gold.
That semantical difference, or was it a pedantic one, is important here. Even more so in the case of Novogratz, who was launching a $500m crypto hedge fund, one of third of which his own money, but delayed the launch and the fund is currently paused.
What that means is that the moment just isn’t right. This isn’t a bull run. This is a (mini) madness bubble currently. Everything is overvalued and that currently can not be defended. End last year we were at double the price for Bitcoin of the Novogratz hype building, to raise for his fund, that BTC would reach $10k by April.
It’s a bubble. As simple as. Proof: $XRP.
Referring to Thomas Watson is kinda... I don’t know. Hindsight, water, and bridge come to mind. Bill Gates also once famously said that no personal computer would need more than 64kb RAM.
Despite that gaffe both went on and revolutionized the world, making happen what would put specific quotes by each one in articles for decades to come. Basically contradicting their own predictions.