The standard answer people in crypto give, when asked about the bitcoin/blockchain bubble, is that it's just like the 90's, and we're in 199X, where X is sometimes 4, 5 or 6 but never 8 or 9. It's the closest point of reference for most of us; it makes sense because it was also a tech bubble, and (best of all) it gives an upper barrier to reference against when we think, "maybe this is all going up a bit too fast". But maybe we're thinking a little too small here. Maybe it isn't the *19* 90's all over again, but the *14* 90's. Maybe this is more like European explorers discovering the New World. Consider the vast amount of free labor that has been available online since the internet as we know it was born in the 90's. Wikipedia is one such example, but there are many other projects that have harnessed the power of volunteers. A great deal of our internet is powered on Linux servers, for instance. Much of the development that has gone into Linux, an open source project, has been unpaid. Bitcoin has shown us that public/private encryption can be the bedrock of monetary systems. Now that the idea of safe, decentralized value transfer on the internet has been established, there is a scramble to find every last inch of real estate-*online* real estate-in a manifest destiny sort of sprint. <center></center> <center>*France, land of the weak hands! They could've hodl'd if they didn't have their silly Revolution.*</center> One of the most exciting things about this space is that no matter what happens from here on out, there is a new layer to the economy that didn't exist before. There are new ways to do things that were impossible a few months ago. Every single one of us who are interested now can contribute. And contributions *pay*. I look forward to reading the success stories of those from more remote corners of the world using platforms like steemit to change their lives. We're watching a global free market rapidly expand and it is going to drastically change the balance of power in our world...for good, or for bad. The constant harping of the bubble nature of this space is likely a good sign that this isn't a bubble...yet. Naysayers aren't holding cryptocurrency. The more naysayers, the more money on the sidelines. It's when the bubble chatter stops that you should be worried. Regardless of bubbles, we live in a new Age of Exploration. I'm grateful for the opportunity to be a part of this vast experiment, and look forward to what we build together in this *new* New World.
author | protegeaa |
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permlink | this-isn-t-the-dot-com-bubble |
category | bitcoin |
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I like your analogy. I think I will steal it and use it. I sort of think of it as the age of the railroad expansion in the United States. Contrary to the nice picture painted in the history books the cross continental railroad was hacked together with shoddy workmanship and bribery of congress. But a bad railroad, is a lot better than no railroad. Getting food to the cities in the east and getting tools from the factories out to the farms, and absorbing huge numbers of immigrants -that were starving in Europe made it very much worth it.
author | cryptick |
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permlink | re-protegeaa-this-isn-t-the-dot-com-bubble-20180109t142741905z |
category | bitcoin |
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Yeah, and a lot of investors were crushed by the end of it, but overall we are glad to have the railroads.
author | protegeaa |
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permlink | re-cryptick-re-protegeaa-this-isn-t-the-dot-com-bubble-20180109t161621031z |
category | bitcoin |
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Hi @protegeaa, I like your analogy of the "Age of Exploration". I also agree we are not in a bubble, at least not yet. I think there is still much room for growth. I wrote about it in my blog as well. https://steemit.com/cryptocurrency/@culgin/cryptotalk-cryptocurrency-market-capitalizations-reaching-usd800bil-is-the-bubble-forming Upvoted and I have started to follow you. Looking forward to your future contents!
author | culgin |
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permlink | re-protegeaa-this-isn-t-the-dot-com-bubble-20180109t045142962z |
category | bitcoin |
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Thanks for sharing your thoughts. I hope we're both right and there is plenty of room for growth!
author | protegeaa |
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permlink | re-culgin-re-protegeaa-this-isn-t-the-dot-com-bubble-20180109t050335439z |
category | bitcoin |
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