Bitcoin ‘Just like the Dot-com Bubble’: Securities Regulator

[Carmela Tim]

Speaking with The Atlantic, Alabama Securities Commissioner Joseph Borg said that he believes there are significant parallels between the ascendance of bitcoin and the dot-com bubble that occurred at the turn of the millennium.

“This is just like the dot-com bubble, tulips in the 1600s, and oil and gas speculation. Things get to be a mania. The retail market gets hits with advertisements and media pitches: You’re going to miss out on the next Microsoft! You’ve got to get in now, because it’s going up and up and up! It’s the same sort of thing that you see in any type of mania. When oil was $4 a gallon, everyone was pitching this new technology to drill old oil wells, that kind of stuff,” he said.

Source: http://strategiccoin.com/bitcoin-just-like-the-dot-com-bubble-securities-regulator/

 

[Bitterom]

Yes, speculations on the cryptocurrency market - is the new market of bidding. Everyone knows that. But the idea is that it's much easier to start here because this sphere is new and any person can try it.

 

[Zolin]

Bitcoin has actually made some progress in financial schemes and companies. That's why many people compare it to the progress made in digital technologies. We'll see what's going to happen next.

 

[Bitterom]

It is now difficult to say whether bitcoin will be a regulator of whatsoever, but you need to understand for sure that it's unstable now.