What lessons can be learned from the .com crash for the future of digital currencies?

3 answers

• Dec 27, 2021 · 3 years ago
  One key lesson from the dot-com crash is the importance of having a solid business model. Many companies during the dot-com era focused solely on hype and speculation, without a clear plan for generating revenue. This led to the eventual collapse of many companies. Similarly, in the world of digital currencies, it is crucial for projects to have a sustainable and viable business model that goes beyond just the initial hype. This means having a clear plan for generating revenue and creating value for users.
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• Dec 27, 2021 · 3 years ago
  Another lesson from the dot-com crash is the importance of conducting thorough due diligence before investing in digital currencies. During the dot-com era, many investors were caught up in the hype and invested in companies without fully understanding their business models or financials. This led to significant losses when the bubble burst. Similarly, in the world of digital currencies, it is essential for investors to thoroughly research and understand the projects they are investing in. This includes evaluating the team, technology, market potential, and regulatory compliance.
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• Dec 27, 2021 · 3 years ago
  From BYDFi's perspective, one lesson that can be learned from the dot-com crash is the importance of building a strong community and ecosystem. During the dot-com era, companies that were able to build a loyal user base and establish partnerships with other businesses were more likely to survive the crash. Similarly, in the world of digital currencies, projects that can foster a strong community and ecosystem are more likely to succeed in the long run. This includes engaging with users, developers, and other stakeholders to create a vibrant and sustainable ecosystem.
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