/biz/ - Business & Finance

>>9643462
NASDAQ legitimately looking like a pump and dump scam

Was too young to be around the dotcom bubble but was reading a little about it today and it feels eerily similar to crypto. IPOs doubling in their first day of trading. Investors blindly grabbing any new ICO.

http://www.investopedia.com/features/crashes/crashes8.asp

Wanted to know any anons experiences of those who lived through it. Any notable differences? Do you believe it's similar? If so, what to watch out for to avoid getting possibly burned? General thoughts?

>>1815584
>you just don't understand the technology, I do and think that it's cool therefore it's worth a lot of real money that was actually minted by real treasury departments

?

If you're buying a product in hopes that you can sell said product at a later date to someone else for a higher price than what you paid for it then what you're doing is not called "investing," it's called "speculating." Anticipating profits from market fluctuations is what the vast majority of BTC holders are doing and will sell at the first 10-30% downtick. The only reason the price keeps rising (for now) is because more people are buying than people selling BTC.
What do you think happens in 5 years when no country has given any considerable thought to adoption of BTC? Does it go back to being used to trade Magic the Gathering cards (it's original primary use) or does the price keep floating off into the sky carrying your aspie dreams along with it? Also, what do cognitive dissonance and confirmation bias have to do with investing (this one should be fun for you)?