I'd do the same with cryptocurrency, but I can't figure out how. My 2008 investments were pretty risk-free. Of course the economy was going to recover. It always does.
I've no idea how to do that with cryptocurrency.
You could make a killing because you knew from history that the market usually overreacts and the 2007 financial crisis was such an event. Everything went down, even stuff that had good fundamentals, so you could scoop up lots of good stuff in 2008 at a cheap price.
Such events happen in cryptocurrencies every few months because of the increased pace. Like a few weeks ago when the whole market dumped 30% because China was flexing their muscles again and now we are about 20% up from that bottom.
So, that was easy money. But OTOH, if you bought in Q1 and just did hold since then, you would even be up 3x. Despite the dips in between. Insane performance but nobody knows if we are 10x next year or /10.
> Of course the economy was going to recover. It always does.
That's the important point. We have a long history of the stock market and we have some rules of thumb how it behaves.
We are in the exponential growth phase of a new technology and we don't know yet if the cryptocurrency hype has passed its top or not. The concept of cryptocurrencies is certainly here to stay but how much worth will it be and even more important, how much worth are the coins and tokens that exists now going to be?
Look at the history of other new technologies and try to decide where in that cycle we are right now. If that's easy money is up to you :-)
These ICOs are starting to make powerful people angry. Thefts like this one are starting to get regular media coverage. At some point, probably soon, the governments are going to come and clamp down on it.
Is there a way to long-term short Etherium or Bitcoin?
Plenty of exchanges will offer you shorts if you're that confident, though. BitFinex and Kraken come to mind.
News would be boring if it wasn't for the negative stuff.
All I'm saying that one should always question the motives of the media & not necessarily conclude a general opinion just by reading a bunch of articles that landed on the front page.
As for the exploit itself, it's hard to believe that in this day and age XSS is still a problem despite so many solutions & fixes for it.