Seconds before my phone died I saw yet another tweet comparing DeFi summer '20 to ICO summer '17. Something about how pullbacks in the heart of a bullrun were normal or something.

While there ARE a lot of similarities between DeFi mania and ICO mania....yeah no.

If were equiv to post-summer '17, we should be months from the top of the bubble. Surrounded by things equiv to the $4b EOS year long bullshit and Centra Tech and celebs going bonkers and every scam under the sun.

Also, youll be sim swapped. Some twice. https://medium.com/mycrypto/what-to-do-when-sim-swapping-happens-to-you-1367f296ef4d

But honestly, I'm not seeing it. If you zoom out and get your ass off of the CT circle jerk echo chamber of shilly glee, this past summer has been relatively uneventful.

Sure you know something is happening if you live this world. But not if you're outside it.

Let's do a quick recap of BTC's last cycle which from ATH of $1.2k to new ATH $20k. (If you recall ETH also ran to ~$1.2k)

Dec '13: BTC ATH of $1.2k
Summer '16: BTC halvening, 50% prev ATH
April '17: Retakes $1.2k
July '17: 2x ATH
Sept '17: 4x ATH
Dec '17: New ATH $20k

Now obviously history doesn't repeat itself but it does rhyme.

We're 3-4x bottom. We're making way to 1/2 top. We're 2.5 years from ATH. Where was Bitcoin 2.5 years out from $1.2k?

Remember kids, history doesn't repeat itself. DeFi is different.

No. rn we're like if the DAO had never happened and we had spent the summer '16 doing ICO's similar to Golem's $8m Nov 2016 ICO but all summer long. Maybe even via The DAO and it's wisdom of the crowd (lol).

It would've been something but no where close to what came in '17.

Imagine we had had burned ourselves out throwing money around in the summer of '16? What would '17 have brought?

Same level of hype that occurred except ICOs would have to have been tweaked to sustain the initial bubble of hype from summer '16.

We will likely see '21 bring some tweak on the existing DeFi stuff w more hype, FOMO, complexity, shitstorminess.

You'll say it has more value bc you think value comes exclusively from $ number go up. Even tho you laughed at those down 20x on overhyped ICO tokens for 2+ yrs.

Regardless, defi summer != ico summer. Call me when we get to peak olaf 2.0 lol