Great read Tugce Bulut
My friend, who is an electrician, asked me last night if he should buy BTC or ETH, I asked him jokingly if he wanted to invest in Blockchain or not to which he was obviously oblivious. In my opinion, the rise is due to influx of unsophisticated capital. Not understanding the underlying innovation which they are supporting.
Take the weekend for example. Coinbase rises to the top of the AppStore charts. I know correlation doesn’t equal causation but I would wager a large amount that Litecoins rise was contingent on it being the lowest coin available to purchase and people not understanding they can purchase fractions of BTC/ETH.
I see it from the perspective of social networks or search. Before FB there was Friendster, Myspace etc. Before Google there was Yahoo. What if these initial cryptos are only a precursor to innovation? Personally, I think that is the most likely scenario. I think that Cryptocurrencies are going to be huge for the future. They will proliferate everything that we do and it is likely that they will remediate the disruption of technology taking jobs by enabling micropayments for things where there is currently too much friction between people.
So ultimately I think the wider adoptance of the tech is great for the future. Unfortunately, what is going to happen is that unsophisticated investors are going to get burnt along the way. That’s the price of progress.