Speculative Bubbles in the 21st Century & Asymmetric Upside

But the thing about highly speculative assets is that they have the potential to do crazy things. Within weeks, their prices can soar to levels that you once thought were unimaginable, revealing that the peak you initially guessed was nowhere near accurate.

Speculation makes the crypto world go round, and I can’t see many degens apeing into static tokens that there’s no exit from. The idea that we’ll grind away at building a reputation so that we get some power in a decentralised society is still a bit utopian for now.

We’re in the midst of a wild market, with people seeking to convert a thousand dollars into a million within the span of months, if not weeks. The only way to do this is to invest in highly speculative assets and commodities – things that use risk as a selling point, and not as a deterrent. And when you’re willing to lose everything in the hopes of... See more

Perhaps rather than 10x better, the correct way to think of crypto is as 10x weirder. This is an entirely new financial paradigm with no historical precedent. We have no idea what all of this will do. Maybe, like the ICO boom, everything will be fraudulent garbage! Or maybe we will all get rich! 

Hyper-mimetic bubbles often indicate the long-term macro trend is very real, but the people/projects capturing the hype in the short-run may not be.