[jsnathan]

Specifically, he compares compares blockchains to the Internet and railroads:

"It is a bubble. This is going to be the largest bubble of our lifetimes, and so .. remember, bubbles happen around things that fundamentally change the way we live. The railroad bubble, railroads really fundamentally changed the way we live; the Internet bubble changed the way we live. And so, prices are gonna get way ahead of what they should be. You can make a whole lotta money on the way up. And we plan on it. At one point you're going to have to sell."

[AznHisoka]

everything he says seems fairly obvious but he never seems to answer the tough question: when do you sell?

[dmichulke]

My answer: Take a look at the dotcom bubble, adjust nasdaq marketcap for inflation (and maybe much more because of ZIRP) and there you have your target market cap.

[AznHisoka]

What's your reasoning behind this? When all the dumb money is in, it's time to get out?

[dmichulke]

Yes, the only question is when the dumb money is in. I guess dotcom is here a historical precedent.

Since we cannot really know, I will just use that number and gradually sell around it. Of course that might make me the dumb money but that's a risk I'm willing to take.

[rothbardrand]

When bitcoin is fully valued, you won't need to sell.