Understanding The Cryptocurrency Boom (And Its Volatility – 06.30.17

 

  • Speculative booms are often poor guides to future valuations and the maturation trajectory of a new sector.
  • I recently came across a December 1996 San Jose Mercury News article on tech pioneers’ attempts to carry the pre-browser Internet’s bulletin board community vibe over to the new-fangled World Wide Web.
  • In effect, the article is talking about social media a decade before MySpace and Facebook and 15 years before the maturation of social media.
  • (Apple was $25 per share in December 1996. Adjusted for splits, that’s about the cost of a cup of coffee.)
  • So what’s the point of digging up this ancient tech history?
  • — Technology changes in ways that are difficult to predict, even to visionaries who understand present-day technologies.

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Source: charleshughsmith.blogspot.com

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