That's true
But actually all these meme coins kinda worries me. I remember when I first heard of cryptos (several years back) and the emergence of DogeCoin it made me have the bad impression that the crypto world is just a joke.
That, and all the other ICO scams and several altcoin being hacked or with its owners running away (e.g: Fantansy coin or something).
These are just hastening governments to soon regulate the crypto market. It wouldn't be the end... but like the financial markets we've only experienced crashes; and if the government does decide to intervene and regulate cryptocurrencies, we will experience a "cryptocurrency depression" rather than a crash.
In my opinion, I wouldn't say it will make the bubble pop or something. What makes cryptocurrency different from the tulip mania is, during the tulip mania you have to buy a whole bulb or tulip for tens of thousands of guilders. However, in the cryptocurrency, even $100 can still get you a bitcoin, just that it would be like 0.007390 of a bitcoin. And with that you can trade for altcoins. But you can't do that with tulips or the bulbs as you can't buy half a bulb, you need to buy the
whole at staggering prices. And the tulip mania bubble popped because traders or buyers decided not to pay; thus causing a dip in price, then a panic selling, .etc. It is hard to happen to cryptocurrency market, especially with the "HODL" mentality. I say the possible outcome that will happen is only like the dot-com bubble - prices will be worst off, but it wouldn't be the end of cryptos; and only a few will emerge like Amazon, Google, or Microsoft. Joke or meme coins will most probably end up like Pets.com.. And perhaps, just perhaps, cryptocurrency will just be another financial market for traders - just like how we have the bond market, stock market, derivatives and futures market, there will soon be a cryptocurrency market (I mean, it is already called cryptocurrency market as of now, but financial institutions still refuse to accept it and isn't regulated yet.). If that happens, I believe 'anonymity' coins would also be banned then as a centralised crypto market wouldn't accept such. ICOs will just be like IPOs but with stringent regulations and background review.
But one thing's for certain. This whole cryptomarket has sparked many innovative technological ideas. Think of SIAcoins, POET, IOTA, GOLEM, Ripple, and many more. Cardano, NEM, NEO, Ethereum are all innovative coins that came out from the roots of Bitcoin to solve its issues (security, .etc). So whether people call this whole crypto a bubble or not, one must remember how much innovation it has brought to us. Even Bitcoin's blockchain technology has been accepted in bank industries. I've read that Asian banks are taking advantage of blockchain technology for data security.
Just my opinion though. And that's me after coffee. Okaieeeee back to work.
