[richwater]

When this whole thing crashes to the ground it will the digital equivalent of tulip bulbs of Netherlands.

[liquidise]

Tulip mania lasted 3 years: 1634-1637 in part of a single country.

Surely we should keep comparing it to a decades old globalized financial system with formalized state support from many nations and a market cap measurable in the trillions.

[SpicyLemonZest]

"Market cap" as applied to cryptocurrency is a completely fake metric that exists only because it produces viral big numbers. Cryptocurrencies don't have a market capitalization, because they don't represent fractional ownership of any asset; there's absolutely no reason to think that multiplying the most recent price of 1 ETH by the notional supply of 120 million produces a good estimate of the Ethereum network's aggregate value.

[kklisura]

I thought the same, but... I don't think it will ever go down. Stock prices are already divested from the company fundamentals, but they can only get so high, so the next _logical_ step would be to create something entirely divested from the stock prices itself. Enter tokenized stock.

[tossandthrow]

Not really. Some markets are. But when NASDAQ100 trade at PE = 30 I do think it is reasonably discounted cash flow under growth assumptions.

But you can trade EU, FTSE100, EM, etc. at a PE range of 15-20. While this is not historically cheap, it is also ont over-rated.

[latchkey]

https://www.smithsonianmag.com/history/there-never-was-real-...

[Fade_Dance]

How so? Tokenization is securitized, in this case with equities that have a huge and liquid market (the stock market).

[tossandthrow]

What?

Why does we risk a crash more by using crypto exchanges over regular exchanges?

This is an incredibly lazy comment and reads like an involuntary spasm.