Seeing a lot of similarities between the two: > Each are (were, in the case of dotcom) fairly new markets. > Mainstream caught on to the future value...obvious they weren't going anywhere and have potential use. > Throw money at AOT (any 'ol thing), value skyrockets for no legit reason...many internet-based companies of the late 90s had no fundamental value and were pumped on hype....enter doge and shiba coin...which are essentially nothing special shitcoins...exploding in value like crazy. Did Any of you make big money in the late 90s? Lets get rich on shitcoins.
When I first heard of and checked into crypto, there were like 1,100 different ones. My reaction was, "wow". Now I read today where there are nearly 10,000 different ones, yet only a small number are "worth it"? Which ones are those?? (There are only about 6,100 companies listed on the Nasdaq and NYSE combined...) How would one know which to get into while the "gettin' was still good"?
Fundamentals. Activity, wallet creation, value transferred, fees generated, etc. Actually if a person bought solely off of the fee metric they made a killing https://cryptofees.info/ Most of the tokens for the most active protocols are up 1,000's of % in the past year, and their activity and usage was growing well before their token prices rallied up to the prices seen today. Even if a person missed the "early" entry in March 2020, there was a second good entry in November when there was a big dislocation of price and fundamentals. Prices had dropped 60-70% across the board, yet usage and fees were all going parabolic. I was buying up AAVE at $30, which was hilariously cheap for one of the most widely used protocols in DeFi.
I suppose the answer to that is “you can’t know for sure”. Still, opportunity for extreme returns are out there. I suppose one should formulate an idea of what factors cause a coin to explode in value and look at others for reference. Then narrow them down accordingly. Will more than likely still be dead wrong of course as we all know the only thing that matters is whether or not daddy Musk likes it lol.
Personally I think all the cryptos are BULLSHIAT except the cumrocket coin... https://cumrocketcrypto.com/ So, I agree with you 100% OP, save that one exception.
When updated isn't so updated : (Investopedia) Many underdogs of dot.com became the winners, while many super stars sunk into the void. With crypto, for underdogs to prevail in the long term, - dunno. One should be really ,,special'', - like doge. Heard of a ,,ScamCoin'' recently. That's the official name. Or was it ,,PumpCoin''. Anyway, thing attracted $20 000 of capital. So who knows.
I have said this numerous times: It is a high tech pump and dump ponzi scheme. I hope people on here make money by selling to an even bigger idiot, just don't be one of the suckers left holding the bag when the whole house of cards comes crashing down.
Lol, have you been sleeping the whole time? Yes, for over a year now...and not just cryptos, properties, commodities, stocks,...