Funny that the comment has aged pretty well. Bitcoin has been an utter failure in practically everything substantial it has been ever claiming to be[1]. In addition to being an environmental catastrophe.
(This from someone who refused to bet against bitcoin ten years ago because "the markets can remain irrational longer than you can remain solvent". And still today would rather sell sugared water.)
[1] haven't heard too many trying to sell it as "speculative asset with practically no underlying value whatsoever". That has admittedly been working so far quite well.
It's impressive how long markets can remain irrational. Not just crypto, but the stock market and housing market as well. It seems that finance is completely detached from the fundamentals (and hence reality).
If you're claiming that all markets are detached from reality for a prolonged period of time, consider that the "fundamentals" you grew up with may no longer apply -- the game has changed, and now you may be detached from reality.
If every other car is driving on the wrong side of the road...
> Not just crypto, but the stock market and housing market as well.
Its not completely irrational though. Interest rates are at record low levels which encourages debt and you also have the US Fed printing money which is why people use BTC as a hedge.
> Because bitcoin worked out so well. Have fun with that, dude.
> No thanks. I'd rather sell sugared water.