Now I think it is important to note that he is throwing so much cold water because he feels that no one else is doing any of it. He works for the Ethereum foundation for hecks sake. Certainly clarifying and IMO very encouraging.
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True. I see what you're saying. It's certainly good to see someone on the inside recognize the cart is way out in front of the horse.
I just hope the horse (the underlying tech and adoption rates) can catch up quickly enough to avoid an extended bear market.
That's why we should all be keeping lots of USD right now to scoop up the best crypto assets when they're oversold in a couple years. That's my outlandish prediction at least. ;)
I think in a couple of years we will see a few crypto assets really rising to the top in price and awareness and many of the other just falling away. Would be a good time to buy now I feel and diversify as you may hit one which goes to the moon! As well as that fiat currency is looking doomed with the aount of debt especially in the US so people are looking to invest in other places.
Yes, fiat will eventually go away in its current form. But I've been reading that (and thinking it) for over a decade now. It's going to take time. Longer than you or I would like.
The crypto market still needs time to mature. This will include bear markets. During bear markets, even the best crypto assets (the ones that rise to the top as you accurately describe) will be undervalued. That value could be higher than where we are now for some, but also much lower for others.
Diversifying is great, but that should also mean keeping some USD ready for when your favorite crypto is cheap. That's just my friendly advice.
I wouldn't mind a bear market :P
We will just have to see