Ha, I was getting into arguments that it was good at everythings ATH. I support crashing early and often. Its the whole thing of an unregulated market, people are going to have to learn to use their own head, and that is going to be painful. The sooner we can teach the nessecary lessons, and reinforce them, the better.
- People just learned how a ponzi scheme works. I'm sorry for the victims, but hopefully the community won't so blindly follow the next one.
- People learned why you don't keep money on exchanges.
- People learned that strategies that seem good in a massive bull market, going all in on the coin of the day, buying random low market cap coins and hoping they moon, day trading, etc. don't seem as smart when the party ends and the hangover kicks in.
Of course these lessons will have to be taught again to the next batch of students, but when the current fuss dies down, we will have another group of graduates.
As for steem, its its own economy. Our spending power abroad may be down, but in the homeland daily life carries on.