A 4,000 Year Bubble?

When I hear talk of a crypto bubble because of the sudden seeming increase in crypto asset prices, the first thing I ask is whether the person I'm listening to has a deep grasp of the technical and economic fundamentals. Immediately followed by whether they realize how widespread institutional, governmental, and societal insecurity have become in a world that is engaged in a web of constant, instant communication for the first time in history.

Whether you're a crypto miner in China, a farmer in Sub-Saharan Africa, a former Marine in rural Ohio, or a kid growing up in Washington Heights... You might not think about the big picture in the same way, but you all share a creeping and well deserved distrust for the system of middlemen and 3rd party authorities telling you to rely on them -- that everything will be ok because, well, it always has been and besides, they say so.

Cryptocurrencies and blockchain based open networks already offer a better alternative to that system today. Even in the very early, complicated, and unpolished days of this new global system of information and value exchange. There's a lot to learn and be confused about, yet I find the fundamental value of that shift in capacity for social trust to be vastly underappreciated in all of the bubble talk...

"For a very long time, gold has been a safe haven in times of political and economic crisis. It is still widely seen as something to buy for the worst of times, and as a hedge against high inflation."

Source: The Gold Bubble Is 4,000 Years Old, And It Won't End Now