Read any crypto blog, and for the most part you will have people supporting bitcoin and other cryptocurrencies like crazy. Some, are more fanatic about cryptos than they are for their favorite team in the NFL.
When you read stock market related blogs and sites, you will see the “traditional” gamblers say that cryptocurrencies are a bubble (not even “in a bubble but “are” a bubble.) Those are the same people that invested back in 2000 and up to 2008. Those are the same people that trusted the financial systems so far, where Wall Street gets to roar with no consequence and billions in profits and bonuses.
I am not going to debate this subject to death, but rather say: cryptocurrencies may well be in a bubble…so what?
Before I elaborate, note that I did not say that cryptos are a bubble, but are “in.” There’s a HUGE difference in saying that there is hype in certain piece of technology (blockchain) and the tech itself is fake and won’t last. Any sane person understands the importance of blockchain. If the Arabs are using blockchain for their oil production, then you don’t need a whole other evidence do you? LOL
What if cryptocurrencies are in a bubble though? Is that necessarily a bad thing? Well, it is for the correction. When a market corrects, people lose money. But let’s be honest, everyone participating is a grown up. They can do their own homework and research, and be responsible with their actions. So if the markets correct, that is not a crime. What is a crime for me, is when the average person on the street does not see or know the value in Blockchain and cryptocurrencies. If anything, this crypto hype has only brought more people to our “dogma.” If bitcoin was still trading at $2, do you think people would climb in the way they have now? Hell no!
So although cryptocurrencies can potentially hurt some people, we need to grow up and understand that there is a greater good here: the world wrapping their minds around cryptocurrencies and starting to use them, just like when they discovered the Internet.
I also think it’s a crime for anyone trading cryptocurrencies, to not have at least read Rentberry’s white paper: click here and you won’t regret it!