For Wall Street analysts and investors trying to figure out whether cryptocurrencies like bitcoin and ether are destined to deflate, Ethereum co-founder Joseph Lubin has an answer for you: yes.
But just because a bubble pops doesn’t mean it’s the end, he says. It actually might be better for the technology’s long-term growth.
“Of course it’s a bubble. Hopefully it’s one in a series of increasingly larger bubbles,” Lubin said at an event hosted by Quartz and Retro Report yesterday (Oct. 24) launching their What Happens Next series. “These bubbles bring attention, they bring value into the ecosystem. That value is recognized by software developers and business developers, and they create fundamental value and projects that grow the new architecture.” […]