There are some really silly and pedantic arguments in that post, especially the one that as long as it is worth 1 cent it technically cannot be a bubble because it still has value. That seems to be typical of Reddit. And sadly only about 1 in a thousand reddit users are able to even make posts this good, and it's still stupid.
The dotcom bubble burst when mass adoption of the internet actually happened and people realised that the internet is not as profitable as they thought it would be. Even today it's still kind of a bubble, Twitter is worth billions, but how does it make money? just advertising?
Maybe the same thing could happen when cryptocurrency becomes mainstream. People will realise a currency for a certain app is just as worthless as all the other apps we already have. Also the idea of using a different currency for every single different things doesnt sound logical either.
You walk into a shop, your smartphone automatically mines some Nucleus Vision coins for you in return for giving away your shopping information, then you go home and trade that for some Webflix Tokens so you can watch some entertainment on your PC/laptop/whatever. All the time you are trying to be careful not to lose money from the fluctuations of these currencies. Now you realise the value of one of the more speculative coins has gone up 200% so you cash it out to buy some of whatever the reserve currency will be.
You also have several online businesses, you're a musician and you get paid for people streaming your songs in Musicoin, you have some affiliate marketing going on so you get paid in AdvertCoin, and you also teach English online so you get paid in EnglishTeacherCoin. There aren't many other currrencies you can be paid in for this work, so instead of trying to keep track of the value of all of them, you just cash out every month and hope for the best.
How is this going to work, everyone is going to be a crypto trader in the future?
So what if it never becomes mainstream? I think we will always have a need for physical coins and notes. I would definitely not want to give that up. I like cash, I like paying people in small businesses without any electronic equipment. I live in a third world country, what the fuck would I do without cash?
Maybe this bubble could just go on forever, only used as like a worldwide stock market, a way to fund new companies and make money, which of course people will convert back into real money. Maybe it will stabilize when there is more money in it like other bigger markets.
The dotcom bubble burst when mass adoption of the internet actually happened and people realised that the internet is not as profitable as they thought it would be. Even today it's still kind of a bubble, Twitter is worth billions, but how does it make money? just advertising?
Maybe the same thing could happen when cryptocurrency becomes mainstream. People will realise a currency for a certain app is just as worthless as all the other apps we already have. Also the idea of using a different currency for every single different things doesnt sound logical either.
You walk into a shop, your smartphone automatically mines some Nucleus Vision coins for you in return for giving away your shopping information, then you go home and trade that for some Webflix Tokens so you can watch some entertainment on your PC/laptop/whatever. All the time you are trying to be careful not to lose money from the fluctuations of these currencies. Now you realise the value of one of the more speculative coins has gone up 200% so you cash it out to buy some of whatever the reserve currency will be.
You also have several online businesses, you're a musician and you get paid for people streaming your songs in Musicoin, you have some affiliate marketing going on so you get paid in AdvertCoin, and you also teach English online so you get paid in EnglishTeacherCoin. There aren't many other currrencies you can be paid in for this work, so instead of trying to keep track of the value of all of them, you just cash out every month and hope for the best.
How is this going to work, everyone is going to be a crypto trader in the future?
So what if it never becomes mainstream? I think we will always have a need for physical coins and notes. I would definitely not want to give that up. I like cash, I like paying people in small businesses without any electronic equipment. I live in a third world country, what the fuck would I do without cash?
Maybe this bubble could just go on forever, only used as like a worldwide stock market, a way to fund new companies and make money, which of course people will convert back into real money. Maybe it will stabilize when there is more money in it like other bigger markets.
"Especially Roosh offers really good perspectives. But like MW said, at the end of the day, is he one of us?"
- Reciproke, posted on the Roosh V Forum.