Crypto is likely to follow the pattern set during the dotboom and dotbust.
A huge amount of undisciplined venture capital flowed into the market. During the dotboom pundits preached about how the net would create unlimited wealth.
Internet CEOs decided to leverage the viable ideas on the market in pursuit of questionable pipe dreams. When the market corrected the bad ideas swamped the good ideas.
I had the naive hope that the developers of crypto would have learned about the dangers of leverage.
But we see on HIVE the witness are intent on killing the platform with 20% interest on HBD. It is absurd the way that people never learn from history.
It is so sad. Justin Sun killed Steem. The HIVE witnesses want to kill this platform with junk bond interest rates.
Why is it that people are so easily seduced by destructive paths?