The crypto market is very frothy right now and it's easy to make money by issuing coins or touting your connection to the blockchain. It's reminiscent of the 90s during the dot.com boom, during which all a company had to do was add ".com" to its name and it was rewarded with a lofty market multiple.
I expect we'll see a similar shakeout in the crypto market because there are a lot of scam artists taking advantage of people who lack knowledge about this technology, but those who invest in real projects run by smart, legitimate management will earn extraordinarily good returns.
I think that the crypto space will trigger an enormous amount of creativity in the coming years and we're just scratching the surface of what we'll see. Significant talent is moving into crypto and we're in the early innings of the money flowing in as well.
It's 2014 all over again...
I wish I'd gotten into crypto earlier than I did, but I think there's still plenty of money to be made by diligent investors who have the fortitude to ride out the wild swings.
Yeah, there's plenty left. Back in 2014, I kept wishing that I'd gotten into Bitcoin in 2011.
It's like a hazing: a big, bad bear market toughens you up. I'm awfully glad I stuck through & didn't quit in '15 or '16.
I hear you, brother. I've known about bitcoin for years but thought the notion that computer programmers could create a currency that would have value was absurd and dismissed the idea without investigating further. I also remember very briefly toying with the idea several years ago of buying some ethereum when it was dirt cheap to see if it could do what bitcoin did. I am very upset with myself for not doing that, but oh well.
No regrets on my side. Based upon my hapless trading, I prolly wouldn't have become an insta-millionaire anyway. Live and learn.