/biz/ - Business & Finance

>>29340922
This season started in 2007. BTC is in its first cycle.
And nobody uses crypto because its dumb lol

>>29199948

Bitcoin is beenie baby mania 2.0

>>14731691
>What Beanie Babies should I hold for years or decades so that my children can inherit a fortune?

>>11853478

I think crypto is closer to beanie babies than to the dot com bubble for a handful of reasons, including...

1. The market is a small group. There were only so many beanie baby collectors, and there are only so many crypto investors. The dotcom companies were much more widespread, with thousands of employees, real estate, and (at least for a while) working businesses.

2. In both beanie babies and crypto, the price is driven by speculators selling/buying to/from other speculators, and not by transactions or speculation by the general public. The dot com bubble was caused more by a lack of real-world customers and an over-estimate of potential real profits. In the case of BB and crypto, the price is set by the belief that other speculators will pay more.

3. Investors in both BB's and crypto feel that holding long term will result in price inflation, and that their product has real outside-world value.

4. Both rely on artificial scarcity to help prop up the value. In the case of BB's, it was the idea of limiting production and "retiring" individual babies; in the case of crypto, it's the forced slowing of transaction and mining.