That's reported as a drop from the peak. But it doesn't necessarily reflect the real losses, in terms of initial investment. It's a number larger than the total amount of "real" M0 money in 2000, for example! Feels more like "an unrealized gain that never materialized" than "loss".
I remember that time, it was just after I graduated. There was a lot of business craziness on a scale that defi is yet to reach, although it's already hit some of my peak markers like "rename a stadium".
So it seems like you are saying DotComs were a scam? Which is obviously insane. I believe we are seeing something similar in crypto. Yes to bubble, and yes there are scams, but wow it seems like there are a lot of people here that think the entire thing is a scam. There are a lot of insanely smart people working on this that are obviously not doing scams, maybe you should take a deeper look?
Agreed. Super-smart people made these systems possible. Sad to see many people associate crypto with scams and illegal stuff. Well, I've bought a tshirt with Ether and VPN subscription to access Wikipedia and YouTube, from a country that blocks many common VPNs. Super, illegal.
Let them keep saying crypto is scam, people who believe in it will win in the long run anyway.
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