(11-29-2021, 01:56 PM)Kerim Wrote: Yeah, I think the 1999 analogy is apt. But I agree crypto is here to stay and there will be many more gigantic winners in the next decade. The trick is identifying them, just like in the dot-com days. I think we're really just at the beginning of this transformation -- check out this fascinating (terrifying?) article about social capital becoming economic capital. We're really heading through the looking glass here!I try to not get too locked into my boomer world thinking, but I just can't help feeling like I am chasing if I jump in here, and I strive to not make the same mistakes repeatedly. I think back to my top 10 stocks I held in 1999. All were profitable and most were very profitable. MSFT is the only one that was worth holding and it was a very long wait. I try not to lose sight of the fact that valuation matters in the end. Of course you can pay a little too much for a growth company and get by with it if they grow for another decade or more. But their is a valuation line somewhere and it is impossible to determine with BTC. Too many things can change in the next few years. I don't need to own BTC ever, so I can just watch and learn.
(And great article, rayray -- thanks for the link!)
On a side note I have run across millennials on the net that have their entire retirement port in crypto, and they don't consider it a risky strategy. THAT is 1999 thinking. I can't be wrong, it only goes up because it is new tech, somebody will pay double for it next year so don't miss out.