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by jonnathanson
3313 days ago
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Respectfully, I think a lot of comments on this topic are missing the point of the author's advice. Whether there is or is not a bubble, and if there is, how big that bubble might get, are irrelevant here. That's not what this article is about. First, the author assumes there is a bubble brewing. That's not his thesis; that's his background assumption. His thesis is that, assuming there is a bubble, you should do X, Y, and Z, and not do A, B, and C. So yeah, after reading this, we could argue once again about whether there's a bubble or not. But the more interesting argument is about whether his advice is sound. Not whether his assumption is sound. |
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> 2. Beware vanity metrics
Can we tell if BitCoin and other cryptocurrencies has any vanity metrics? If so, what would that be?
My uneducated guess would be how valuable the currency is in Dollars. The currency seems virtually inflated as we don't know how much of that would translate to real purchasing power. It doesn't seem that it would be possible to many people to sell it all out. Thus, who invested in it would be supposed to keep using within the coin's network, and given that a transaction takes awhile and there are not many shops accepting it, it would be hard to get some return.
In addition, BitCoin has fluctuated a lot since 2012 and there were several issues in its way, like the lead maintainer stepping out, capacity limit being reached because of block chain monopoly, Mt Gox bankruptcy etc.