The Psychology of Crypto Currencies - I Find it Fascinating

redjebo said:

I guess we'll get to see sooner or later.
And while the 2008 crisis did chronologically precede the btc emergence, it is not at all clear, nor given, nor proven, that it actually CAUSED or LEAD to it. What is clear is that btc and all other cryptos have never been in economic crisis environment so far and when it gets to it, say an even bigger crisis, a real crisis, affecting deeply all people, we'll see if people will tend to get hold of virtual currency or stuff that actually can feed them (look at the price of land during global wars and severe financial crisis's through history). I personally will know for a fact that I could produce food and tangible goods and commodities if I owned land, machines and infrastructures. And wouldn't at all know what my btc will buy me in harsh times like that.

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ttmschine said:

OP is far more intelligent than you give him credit for, and OP has thought of everything you mention and much more that you can't even conceive of.

You cannot draw any direct comparison between any bubble or another, except in the over exuberance of the participants and the reliance on vague generalities like "technology" as the underpinning mechanism.

Name me 1 - just ONE technology that has ever been introduced where the first iteration has been the final solution.

You might have put all of your money into record players and vinyl, but could never have conceived of tape recorders, CD's, and the iPod.

You might have put all of your money into the 1985 Atari games console, but not been able to conceive of the PS3, PS4, or even the early nintendos.

You might have given all of your money to the Wright Brothers because they first invented powered flight, or Carl Benz with his automobile, or Edison with his lightbulb, or Hoover with their first vacuum cleaner, the first iteration of the Windows operating system, or any other number of "firsts in technology".

But they all went by the wayside as newer and better technologies evolved and replaced them.

Blockchain is a cryptographic methodology that has ALREADY been supereceded, it won't take as long to roll out as building a new form of aeroplane, and even the hashgraph will be old history in no time squared.

And that's without the banks releasing their own versions of crypto coins.

In the dot com boom (and bust) there was probably a survival rate of 0.1% of IPO's, and even then whetehr you made money or not depended on when you bought them.

The dot com IPOs were released by the banks because even though they KNEW those companies would fail, they made money from the IPOs, just like AAA rated junk mortgages - they weren't going to be left holding the can (your pension is) so they gave mortgages to anyone with a pulse.

There is only 1 winner, they're all part of a big club, and you ain't in it - so batten down the hatches and strap on your daipers, because by the time this shit storm has ended you'll have passed your own bowels.

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Iknowsomethings said:

Well go read the Bitcoin Whitepaper. Exactly the financial crisis of 2008 lead to the creation of the crypto.. read more here: https://medium.com/@FolusoOgunlana/cracking-the-bitcoin-white-paper-c5f479ce748d

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ttmschine said:

But if you do want to invest may I suggest you check out the UK listed Anglo Pacific, Severfield, Van Elle, and Hurricane Energy.

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