Blockchain, right now, in the early 2020’s, is analogous to the Internet boom of the late ‘90s.
And, as happened in the ‘90s, there will be winners and losers, but the Blockchain winners will win big - and I believe, much bigger than the winners of the dot com boom.
Partly this is because the companies that “boomed” out of the ‘90s only touched a few aspects of our lives - social, ecommerce, the sharing economy and a few others.
But Blockchain encompasses the foundation of finances themselves, and blockchains like the Ethereum network bring with them exciting new ways to take “trust” completely out of various situations, such as contracts / agreements, health, medicine, supply chain tracking, voting, social media, ecommerce and, of course, money.
The value of blockchain technology (and it’s associated applications) cannot be measured with the same metrics as most other asset classes.
It’s a different world entirely.
Many people attempt to understand Blockchain and crypto by using familiar investment metrics and philosophies, (I learned many of these in my years in finance) but that belies the fact that many of those financial paradigms for valuing stocks, companies and commodities just do not apply here.
Crypto and blockchain are more than just something to dabble in, invest in or speculate in. They are revolutionary technologies that can actually change the world for the better. (To bring back a phrase popularized by those dot com companies)
Noted Bitcoin maximalist, Michael Saylor has pointed out that “Bitcoin has increased by 200% per year for a decade” and he expects continued and increasing growth in value in the decades to come.
Of course, investing in crypto itself is not for the faint of heart. The price swings can be breathtaking if you’re not used to them.
But for those who are willing to take the time to educate themselves about an emerging, multi-use-case asset class, (and to “hold on for dear life”) it just might be one of the most financially rewarding investments you’ll ever make.
I always try to tell people this, I would choose this pattern a 100 times over investing in meme coins with no actual use, but what do I know, meme coins were blowing up and taking over the entire space, but look at them now that market is taking a beating....but what do I know
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Totally agree - the memecoin appeals to the "trader" mentality - they're looking for the short-term market moves, the big pumps and can make short-term money on the ups or the downs. I just don't have time to stare at the markets like that, so I'm more into just buying and hodling for the long term. :)
Memecoins (and the other word they're known by) in 2021 have more value that Pets.com and its sock puppet hypeman from the Dot-Com boom. They have their place, but it's too exhausting trying to figure out which ones can follow the trail blazed by Dogecoin.
Cryptocurrencies (and their respective blockchains) with multiple use cases will lead the way and offer value to everyone. As for memecoins, whichever ones survive the unavoidable culling which tends to be their fate can be rehabilitated if they evolve to become multiple use case cryptos.
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Well said, exactly my thoughts as well
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** My apologies for this off-topic comment, but I couldn't help it....**
Reveal spoiler
That's the perfect example of what I wrote about last month! -- If Cryptocurrency Is Digital, Where Do These Coins Come From? Really, where do these things come from?