According to ChainCatcher, Dragonfly partner Haseeb has shared insights on social media, addressing the current pessimism in the cryptocurrency market through his article, 'In Defense of Exponential Functions.' He observes a shift in market sentiment from 'financial nihilism' to 'financial cynicism,' with many believing that blockchain projects are overvalued and facing potential collapse.
Haseeb draws parallels with Amazon, noting that the company only began to generate significant profits 22 years after its inception, despite ongoing skepticism about its business model. He argues that the blockchain industry is in a similar phase and should not be assessed using linear growth thinking or traditional financial metrics like price-to-earnings ratios.
The article emphasizes that blockchain technology is poised for exponential growth, akin to the early development of e-commerce. Although this growth may not be as smooth as e-commerce's trajectory, its potential is undeniable. Haseeb believes that blockchain will eventually transform the operations of finance and currency, much like the internet revolutionized other sectors.
He urges investors to adopt a long-term belief in blockchain's capacity to bring about profound social and financial change, stating, 'If you believe in exponential growth, everything is still cheap in the long run.'
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