I know you've all heard this, "blockchain and cryptocurrency, yeah there's, a lot of potential and a lot of good ones but there's a lot of scams out there, so many ICOs with nothing but a white paper, the market's totally in a bubble, and look how much volatility, I mean bitcoin is up and down 30 to 50 bucks everyday."
I want to dissect this statement. Everyone's worries. Let's talk about them.
There's a lot of scam coins - Hmmm. Please elaborate, clarify, give me a token, besides bytecoin, that is absolutely dog shit, (and mooncoin) because I hear so much talk about these "scams" and shit coins, but no one will every name names. I would love to hear in the comment section, names of tokens and projects you believe with proof are a big joke. Now, I will agree that there's a lot of money behind some things that are just well thought out, and semi developed ideas but let's take a look at these. Tezos and filecoin, raising tons of money, but look at the people behind them; they didn't jump on the ICO band wagon, they've been building these for years. My partner Johnny Steindorff met with Arthur Breitman, co founder of Tezos and said, "that guy will go down with Tezos to the grave, win or lose, he's giving Tezos everything he's got." Juan Benet has been after filecoin for years as well, and only recently is he under fire for the crazy amount of money about to be raised. Raising unheard amounts of money is one thing, but calling these projects scams or dogshit just doesn't make sense to me. Please leave in the comments one coin in the top 20 on coin market cap, even the top 50 or 100, that is a scam coin. If you give me one and give me good evidence it's a piece of crap, I'll send you a NEO coin.
The market is in a Bubble - last July I thought all my crypto investments were gone forever. The market had hit 120B and now it seemed to be in route to 50B. And just like that, today it's back up to 124B. A rebound back up to a new all time high. Dot com was in the trillions. We're just getting started.
My favorite - "look at how volatile it is, bitcoin goes up and down, who knows what it's going to do" -- I hear this all the time and now I just laugh. Please people, go to whatifbitcoin.com. If that says anything besides UP UP UP, tremendous, unheard of gains, please tell me otherwise. The market isn't up and down like a rollercoaster like everyone thinks, what really happens is the market goes up like crazy, then it drops a little bit, goes up like crazy again, and drops a little bit again. What people don't realize is that the gains are staggeringly larger than the corrections. It's mind blowing to me that people still say stuff like, "Yeah bitcoin you could have made a lot of money, but could have lost a lot too." It was pretty hard to lose money with bitcoin, unless you aimed to buy high and sell low, or you were one of the few 10,000 bitcoins for a pizza tragedies.
Anyway, just wanted to share some thoughts on my perspective of the norm's perspective on the block space. Very interesting to hear the average Joe's thoughts. Very interesting to see how different this actually is from the dotcom bubble, in which Taxi drivers were spouting pets.com. Today they're spouting, " yeah I might buy some ethereum but I think it's in a bubble like the dotcom bubble." They're fearful, and what do they say about investing when others are fearful....