The Crypto Bubble from the Dot Com Bubble
This has been something on my todo list for a little while now, researching and refreshing myself on the dot com bubble and the factors that played into it.
When thinking of the current state of crypto and the immense interest, the ensuing bubble and how things will play out, this, seemingly, was the most comparable example.
Below is a pretty good video covering the dot com bubble. See if any of this rings home with the current state of affairs in crypto. I heard probably 5 different items that were so strikingly similar. However, paying attention, I noted quite a few that haven't happened yet.
What are your thoughts?
So interesting that you brought this up! When trying to explain crypto to my gf she definitely thinks that I am crazy for relating it to the birth of the internet and how it was perceived by the general public. Honestly, I would like to hope that this isn't a bubble since people like you and me are on this platform and this scene is growing at a faster rate than ever. I definitely think there are going to be some issues getting these platforms and products to the masses but as technology develops I think we will see more crypto-based apps being integrated into everyday technology which in turn will help average everyday people understand what crypto is and why it's so exciting.
Yep. The internet isn't very old. It was really just yesterday that we were all hanging out in chat rooms on AOL, surfing websites with
<marque/>tags. The internet has faced, what I think are, 3 phases.v1 - Birth of the internet
v2 - Social Media
v3 - Blockchain
Undoubtedly, the advent of Blockchain is not nearly as groundbreaking as the internet as a whole. I think that's a given. However, I'd argue that it's equally, or more profound than Social Media. We're changing the way data is stored, communication happens and much more. Blockchain is going to reshape the way the internet works on a broad scale.
It's really quite simple. The internet was intended from the start to be decentralized, we just didn't have the technology to make that happen. Centralization was a necessary progression that moved us forward. But decentralization is where we want to be and that's not going to be slowed down. It will also have sweeping effects across many industries - already is in some cases.
I like your post :) And for sure you can compare some of the ICOs with the dot com bubble . There are alot of standart coins that dont have any new technology , that try to create a hype before the ICO starts and after that the developers let the coin fall. But I wouldn t compare BTC to the dot com bubble.
Exchellent work dear @jacobt!!
I follow you _))
Θα ηθελα να μου πεις την γνωμη σου για το btc καλυτερα να πουλησω οτι εχω η θα συνεχιστει να εχει ανοδο κατα τη γνωμη σου?
The dotcom bubble was 6 trillion, I think the crypto bubble could easily be 10 trillion.
Yea, the global scope of things will certainly push it higher.
I do not think we are in a bubble.... yet: https://steemit.com/bitcoin/@wekkel/bitcoin-in-a-bubble-no-way
It's brewing, just not ready to pop, I agree. But learning from the past, you can pick up on some clues as to when that might actually happen.
Great post and video. Thanks for that. Upvoted and followed you. Cheers