Very interesting article >> Seeking Alpha.
Writing off recent developments in Cryptospace as "Tulipmania" illustrates a profound ignorance of the powerhouses that Bitcoin, Ethereum, Ripple and other leading crypto projects have become.
Innovation in this space is significantly outpacing Silicon Valley. ICO investment now exceeds VC capital investment.
Financial expertise can actually work against you when Finance is the sector being disrupted.
In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it. But this isn't the first time. The same description can be applied to the Tulip mania that peaked in 1637, the South Sea Bubble (1720) and the Internet Bubble (1999-2000).
- Howard Marks, August 2017, Price of Bitcoin: $3,400+
...If you don't believe me or don't get it, I don't have time to convince you, sorry.
- Satoshi Nakamoto, July 2010, Price of Bitcoin: $0.08
No, it's not Tulipmania.
No, it's not a Ponzi scheme.
Read the whole article here: https://seekingalpha.com/article/4100587-time-take-bitcoin-blockchain-technology-seriously