[SilasX]

Again: being widespread is not the same as being a systemic risk. That just means it's a casino everyone wastes money in. Who is defaulting on critically important obligations because of a crypto crash? What creditworthy business isn't getting a loan to cover cash flows for the quarter because BTC fell to 10k?

[mlac]

If it gets bad enough, it will increase the number of consumers who are defaulting on credit cards, mortgages, auto loans, and student loans.

[vietthan]

likely not, the dotcom bubble was a big deal but it wasn't catastrophic like 2008 was and that's because of the greater coupling with financial institutions.

[mlac]

Look at the percentage of retail investors in the dotcom bubble. It’s much easier to make very stupid plays with money today than it was then, and a lot of “average” people are going to get burned.