At one point the beanie baby market was up billions as well. I'm not saying there won't be winners, but there is going to be an absolute mountain of losers.
Well ignoring the fact that beanie babies still sell for thousands of dollars today, they also never became a countries legally enforce currency (el salvador) or were utilized by the EIB (europes federal reserve equivalent) to issue bonds.
I think you'll struggle to find many comparisons to short-lived hypes with cryptocurrency as a category.
True, but something being new doesn't make it more worthy. The subprime lending catastrophe was due to a novel, very popular, idea and people got rich off that as well at first.
You're right. Worthy was a bad choice. I simply meant that doesn't mean it would turn out to be useful or stand the test of time as being a good investment just like how for the vast vast majority of people beanie babies weren't and still aren't either.
The people who are still holding, or the people who sold at its height, to people who were hoping for more? If the former then they haven't gained anything yet, if the latter, that's the greater fools.
The top so far. I have no idea about the future. Regardless, when do people sell? When it's at the top? When is that? If it's going up shouldn't you continue to hold? And should you sell when it drops? You haven't. So what's your line in the sand? Should new people be buying in? When should they stop? And then who are you going to sell your coin to? The greater fool.
Comparing bitcoins volatility to fiat is ridiculous but regardless, you haven't made any actual guaranteed monetary gains until you sell.
I think you'll struggle to find many comparisons to short-lived hypes with cryptocurrency as a category.