Cryptocurrencies Are Like Internet Stocks In the Late 1990s
(Edited)
Many, who are old enough, will remember the dot com era. This was when the Internet starting to become mainstream. From the financial perspective, it obviously was a time of lunacy.
One problem, during this era, was the fact that people had no idea how to value any of these stocks. Leaving the mania aside, they did not know how to value Amazon, Google, or Priceline,
In this video I discuss how the idea of what cryptocurrency is worth is impossible to determine. Ultimately, we do not know what we are looking at.
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BEER.No one really knew how to value Internet stocks back in 1999 and it’s same with crypto.
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https://twitter.com/NathanMars7/status/1335361789878538243
I agree with you it is like 1990 and now cryptocurrencies are light of future
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Summary:
In this video, Task discusses the challenges of valuing cryptocurrencies and blockchain projects based on traditional financial metrics. He draws parallels between the current state of the crypto market and the dot com era, highlighting how traditional financial experts struggle to assess the value of these new technologies. Task emphasizes the importance of innovation and community involvement in determining the success of blockchain projects. He mentions specific cryptocurrencies like Bitcoin, Ethereum, Hive, EOS, and Cardano, speculating on their potential for success in the future.
Detailed Article:
The video delves into the complexities of valuing blockchain and cryptocurrency projects from a financial perspective. Task starts by critiquing the use of pricing as a reliable indicator of value in markets, citing its misleading nature and lack of logic in market behaviors. He draws a parallel between the current situation in the crypto market and the dot com era, where investors struggled to assess the value of internet companies accurately.
Task discusses the challenges faced by traditional financial experts when trying to apply their familiar metrics to the crypto space. He highlights the unique nature of blockchain projects and cryptocurrencies, noting that their potential and value are still largely unknown. Drawing from historical examples like Google and Amazon, Task emphasizes the evolving nature of successful companies and the difficulty in predicting their future trajectories.
The conversation pivots to specific cryptocurrencies like Bitcoin, Ethereum, Hive, EOS, and Cardano, contemplating their potential for long-term success. Task speculates on the role of Bitcoin as a foundation for new collateralized systems and discusses Ethereum's value in the booming DeFi space. He also mentions the governance capabilities of projects like Hive and EOS, hinting at their potential for innovation and growth.
Furthermore, Task touches on the integration of blockchain technology in gaming and virtual reality, highlighting the potential for significant industry disruption. He questions how Wall Street and analysts can accurately value these emerging trends and technologies, underlining the speculative nature of the crypto market.
In conclusion, Task encourages viewers to consider the staying power of blockchain projects and the importance of community involvement and continuous development in determining success. He acknowledges the likelihood of failures in the market but remains optimistic about the potential for certain projects like Bitcoin, Ethereum, and Cardano to emerge as significant players in the crypto space.