[aMorePerfectUnion]

PING!

It seems we’ve entered into a bit of mania, as internet stocks did in ‘99-00.

Anyway, interesting article.

[dsrtsage]

The first rule of economics is that things are worth what people will pay for them

The second rule is that resources and more importantly, the rate of resource extraction are not infinite

[amorphous]

Let the "Wall Street Giants" express all the concern they want. In a genuinely free market, merit eventually overcomes favor. But don't sell bitcoin short, yet - literally! ;)

Surprising, at least to me:

14% Of Americans Own Crypto

https://www.zerohedge.com/crypto/14-americans-own-crypto-here-profile-average-hodler

[PeterPrinciple]

all this is easy money seeking a place to land.

Hard won money is invested differently.

[isthisnickcool]

The comparison to the dot.com boom is a good one except that the play in tradeable equities back then went through established brokers and there was that pesky SEC reporting stuff.

I think that the US government loves the “crypto” boom. If you ponder it the asset is appreciating like crazy in many cases but it is an asset of zeros and ones. But, once those “crypto” assets are converted in to dollars (or spent on stuff) the dollars being generated are not the same thing as the government printing borrowed fiat currency out of thin air like they have been doing. Frankly, I suspect that the Biden administration and the leftists love “crypto” because it is printing money off the books, so to speak. I’m sure another thing they love is being able to sway the markets by making this threat or that threat thus driving the value of a “coin” down so that they can buy in themselves. Congress has been playing the equities markets (no matter what law they passed saying they can’t says) forever. Now, they have a new toy so I don’t expect BTC or ETH etc. to do anything but hit a high, then adjust downward, then hit another high. When does it end? I don’t know but this game will be played for a lot longer.