Boom, doom and boom
When we flashback to the dot-com bubble 20 years ago, there were a lot of fake dot-com companies who raised fund with just a website. But if you were scared by this dot-com bubble and never returned to the industry, you would miss companies like Apple, Amazon, Google, Facebook, Tencent and more. The ICO hype is exactly the same as the dot-com bubble while companies are using just whitepaper (website) to raise fund. After the bubble has burst, the scammers are removed and the market has become healthier and the real age of internet has finally come.
If we take a closer look at the dot-com boom, doom and boom again, we can see how the infrastructure technology play a crucial role. This includes the 3G and then the 4G — only until the speed of internet has reached certain threshold the internet can become a real revolution. For decentralization to become the real revolution, the speed of blockchain, one of the infrastructure technologies of decentralization, has to reach certain threshold. We believe this will be achieved in the coming year 2019.
Bitcoin has dropped from its peak at USD20,000 in Dec 2017 to the recent low at USD3,200 in Dec 2018. Most of the first-tier cryptos have dropped 90% from their peaks. Most of the shitcoins dropped 99%. I will not be surprised if Bitcoin hit USD1,600. If there is bubble, this is and this was the bubble. After all these greed and fear, the market knows who are the doers and scammers. Scammers will not be trusted again. Only the doers who solve the real problems would persevere and gain the reputation they deserve.
Originally published at www.forbole.com on December 22, 2018.
