Charles Hoskinson Calls The Current Crypto Condition Similar To Bubble Dot-Com

Cardano founder Charles Hoskinson. (Photo; Doc. Coin Chapter)

JAKARTA Cryptocurrency founder Charles Hoskinson recently revealed that the current popular crypto condition is comparable to the dot-com bubble that occurred in the 1990s.

Hoskinson shared his views in an interview with crypto analyst Scott Melker at the Messari Mainnet Conference and Jery Fragiskatos as COO IOHK Global. The event was held in Manhattan, USA.

According to him, several years ago he considered that crypto was similar to the early days of internet development. However, now he notes that the current crypto industry is comparable to what happened after the development of the internet, namely the explosion of the domain of dot-com.

Furthermore, Hoskinson revealed that since the early developments of the internet in the 1990s, there has been an increase and adoption of the internet accompanied by massive investments into dot-com companies. Conditions cause large bubbles or bubbles.

When the bubble erupted, many internet companies failed. At the same time, successful internet companies such as Amazon and Facebook emerged who later rebranded into Meta.

"The long game is his game. When I first started about four years ago, I said that we were in the 90s on the Internet. We're probably in (era, ed.) dot com now, from '99 to 2000... said crypto boss ADA and founder of output Hong Kong Global (IOHK Global) as project developer Cardano.

"I still feel that we are in that kind of timeframe. And I think we are on the right track," Hoskinson added.

On the other hand, crypto analyst Fragiskatos believes ADA will be able to withstand criticism as the bubble explodes today. He explained the reason, namely because the Cardano system echo is different from other blockchain projects that are experiencing a shortage of venture investors (VC) looking for large investment returns (ROI).

"The other big difference from Cardano is that there aren't many insiders. If you look at the distribution of ADA holdings, that's especially individuals. There are very few whales, very few insiders. No VC takes 30 percent, 40 percent, 50 percent of them. So that's another very different thing, once again, comes from vision and mission and flows down," said Fragiskatos.

[VC] is like, where's my ROI next year? Sorry, where's my ROI next quarter? If nothing, they'll say it's a ghost chain. Plus, they're also paid by our competitors. And they're also given incentives to create FUD [fEAR, uncertainty, and doubt]," he added.

Furthermore, the crypto analyst believes that ADA will be able to get out of the current bubble condition. At the same time, he also agrees with Scott Melker's opinion that Ethereum is also likely to survive this crypto bubble eruption.