Why Crypto is HUGELY Overrated, and Underrated — 11 Bold Predictions

“We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.” “We tend to overestimate the impact of technology in the short term and underestimate it in the long term” — Roy Amara

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The hype cycle

People are short-sighted, we don’t want to miss out on the action.

We live in a world of instant gratification: sex, drugs, money, violence… And this fixation on the here and now creates issues in the future — hence every major hype cycle.

The dotcom boom and bust was caused by short-sightedness. Individuals and investors saw companies rapidly receiving huge valuations, typically with no material value. And society tricked itself into believing it would always goes up. No one wanted to miss on tech stocks which seemed like a guaranteed lottery payout.

But then the reckoning came. The markets dried and the worthless giants collapsed, crushing the economy. History…