The rail history nerd in me has some bones to pick here--
Although there are no “good bubbles,” bubbles can have good side effects. During Canal Mania and Railway Mania, canals and railways were built that had little hope of ever being profitable. Investors lost money, but after the bubble, these canals and railways were still there.
In fact, many railways built during this bubble fell into subsequent decay. They either had to be built again later (completely from scratch) or were never used. One outcome was large, subsidized land grants to the initial builders, who were then able to parlay this into enormous personal profit. (ref: https://www.history.ac.uk/reviews/review/1155)
VC narratives are stories, not histories.
NZvolunarist1 - 2 years account age. 200 - 1000 comment karma.1 week ago
Thanks for sharing!
Although I cannot completely agree that the ICOs bubble gave us no infrastructure. The most important infrastructure is ETH2 and it's the ICO bubble that have made it possible, by giving EF the heap of money to build it.
(And there are EOS, Cardano etc etc, all created and funded by the ICO bubble).
Totally agree!.. no matter what sector you’re in, there will always be scammers.. just in different forms. Yeah, the cryptosphere is super young, unregulated, and got a huge bump during the last bull run.
Of course there will be bad projects “fake projects” that start up.. that’s life across the board. And what happened during the frenzy was mainly attributed to people blindly throwing farts into the wind..
IMO, Anton of good was done with all that hype.. many great projects launched and a great deal of learning/developing took place!