As long as people understand what they're holding, what the risks are, then that's OK. What's important is there are high fluctuations. For Jeff Bezos, he would probably disagree. Did it go through a bubble? According to most laymen's definition, it probably did. Amazon dropped (more than 90% from the start of 2000 into September 2001), and now they are one of the most valuable companies in the world. If an asset's price drops more than 80%? Bitcoin dropped more than that and then recovered. There's no clear definition of what a bubble is. When people buy things only because the next person will buy it, isn't that a sign of a bubble? So it's not up to me to judge it.Īs a platform, we want to provide a marketplace for all the relatively valuable cryptocurrencies in the world. Once you have liquidity, a thing has value, according to the neutral market. But guess what? For something to be valuable, you only need one other person to want to buy it.įor something to have liquidity, you need a large number of people to want to buy it or sell it. And now we have Shiba, which is also a meme coin. It's gone up and down, up and down, but it's lasted. If a large enough number of people in the community values it because it's cute, because they like the meme, then it has value.Īnd Dogecoin has lasted so many years. ![]() But this shows the power of decentralization. What's your takeaway when cryptos that started as a joke are soaring in value?
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