Hi Hendrick,

Thank you for taking the time to read my piece and for writing a response. You are absolutely right in pointing out those differences in terms of the dotcom bubble as compared to the present cryptocurrency “bubble” and bust. For one thing, the NASDAQ soared to US$1.5 trillion and shed just about as much, whereas cryptocurrencies were barely at US$700 billion at their very peak.

Second, as you rightly point out, the actors in the last cryptocurrency bubble were not the general public (as yet), as the wave had yet to hit the general investing population — quite unlike the dotcom bubble.

Finally, peak to trough, the dotcom bubble shed 98% of value, cryptocurrencies were close to that at 97%, but in terms of the sheer amount of market cap lost, it’s nowhere close.

Adoption I reckon will take time, because there are so many vested interests when it comes to cryptocurrencies. From politicians to financial institutions to the global monetary system, to payment service providers. These entrenched powers will certainly not go down without a fight and even if they do co-opt blockchain technology, it will be with a view to entrench their monopolistic positions and the centralization of power.

Patrick