The Coming Cryptocurrency Crash -- And Why It's A Good Thing

in #bitcoin7 years ago

People used to say that when taxi drivers started talking up stocks, a crash was coming. Today, it’s Uber drivers. Last week, two of my Uber drivers on two continents discovered I was a professor of innovation (they asked) and immediately shared stories of rapid riches. The objects of their desires were cryptocurrencies based on blockchain such as bitcoin and ether. More appear every day. image

https://www.forbes.com/sites/robertwolcott/2017/07/07/the-coming-cryptocurrency-crash-and-why-its-a-good-thing/amp/

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Cryptos are going to change the World............

I think the anecdotal nature of this post negates any real value to the community. I think Uber drivers would be a real gauge of acceptance of crypto as they are part of transforming the way the world works not as "simple people who caught on to an uptrend" which is how I would label taxi drivers talking up stocks.

I certainly do not hear taxi drivers recommending investing in fluffy coins. So the idea of a peak in investing similar to stocks does not resonate with me. However, there will be ICO craziness that must be dealt with. In that respect, the truly free market for digital assets is a brutal decider. It makes no friends but cleans up the house like no other in a minimal time space (max 18 months).