[2017-11-08] Joseph Lubin: coins are bubbles, but that’s good

[fanatseal2]

According to Joseph Lubin, who was one of the first Ethereum cryptocurrency developers and now heads ConsenSys, the current growth comparable to economic bubbles is a good thing. “This is the good kind of bubble that occurs when a profound technology emerges and can’t build out its infrastructure fast enough for all the people that see the value and the vision,” he told Bloomberg lately.

Continuing this consideration, he predicts “bubble after bubble after bubble”, but when every bubble bursts, the cryptocurrency community will still find itself with more expensive Bitcoin and other coins than before. This means that Joseph Lubin pictures a series of prolonged bullish trends with occasional big downfalls.

The development of the blockchain technologies, together with this price evolution through bubbles, will lead to...Read more

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[Embeco]

Interesting Point of View. I'd like to see how he compares this to the Gartner hypecycle.

[Lancusters]

Why only bitcoin accused that it is a bubble? The dollar is not a bubble? It seems to me that the whole reason is that before the world there was only one king of the dollar is. Now when everyone already knew that the king is naked people are looking for a replacement. The old guard can't adapt to new conditions and thus criticizes bitcoin.