Maybe everything is in an economic bubble right now.
If you work in a big city and look around; there are tall office buildings everywhere; packed with millions of people. But what do these people actually do? Is that an efficient use of their time in terms of creating value for each other?
Maybe cryptocurrency is a bubble, but maybe also everything else is a bubble. Companies like Snapchat are worth billions of dollars, but they lose billions of dollars each year. At least most cryptocurrencies don't lose money (except some of them due to electricity costs).
Even companies like Facebook which are themselves profitable are deriving most of their profits by providing services to companies that are unprofitable.
Maybe the total value of all cryptocurrencies isn't actually going up, maybe it's the value of everything else around it that's hyperinflating. Maybe the current system is just begging to be dismantled.
If you work in a big city and look around; there are tall office buildings everywhere; packed with millions of people. But what do these people actually do? Is that an efficient use of their time in terms of creating value for each other?
Maybe cryptocurrency is a bubble, but maybe also everything else is a bubble. Companies like Snapchat are worth billions of dollars, but they lose billions of dollars each year. At least most cryptocurrencies don't lose money (except some of them due to electricity costs).
Even companies like Facebook which are themselves profitable are deriving most of their profits by providing services to companies that are unprofitable.
Maybe the total value of all cryptocurrencies isn't actually going up, maybe it's the value of everything else around it that's hyperinflating. Maybe the current system is just begging to be dismantled.