latchkey

I lived through it. It was like day/night in SF. One day it was glorious and the next day it wasn't. It was classic SF group think, and everyone in the bay area was ignoring the "irrational exuberance". Money was flowing, people woke up, then it stopped.

I suspect we will see this again with AI at some point. I've been building my own business around this whole concept of financial failure, not taking on massive debt like everyone else is and running super lean and profitably. It is hurting me in the short term to not have access to capital, but I think it'll all turn around at some point when people wake up, again.

Do more research. I'm just pointing to one source for brevity of discussion, there are others.

The problem was how quickly rates went up (not necessarily how much they went up). It was like 5-6 times in 6 months, which spooked everyone. It peaked in 2000, then the unprofitable companies ran out of money when investors pulled out of the stock market, then rates went back down.

The reason is detailed in the article. Fed increased rates in a very short amount of time and people fled the stock market for the safer interest rates...

"At the same time, a decline in interest rates increased the availability of capital.[20] The Taxpayer Relief Act of 1997, which lowered the top marginal capital gains tax in the United States, also made people more willing to make more speculative investments." ... "Meanwhile, Alan Greenspan, then Chair of the Federal Reserve, raised interest rates several times; these actions were believed by many[weasel words] to have caused the bursting of the dot-com bubble."

let's move the goal posts around to find any reason to hate crypto.

that's fine... don't use it.

read the post again. accounting for risk(s) isn't an option.

posting this link to X got my account fully suspended and the only way to get it free is to either delete the post or appeal.

of course, i'm appealing, but i fully expect to lose as well.

shocked, but not shocked.

there are scams that only exist thanks to zelle or paypal or ebay or amazon...

not to be whatabout... but... anything of value is used for all that too, in much larger amounts.

it is wild to me that people expect that crypto is supposed to solve a problem that is as old as currency.

44GB

oil can be stored and used later. ai compute can't.

I don't care what he posts or drinks, I care whether or not he takes security seriously.