To be fair they will probably have not the last laugh but a good hard laugh in the middle somewhere. Every time there is a revolutionary paradigm shift people overreact and become too exuberant. The dot com bubble is a great example. People lost their minds because they saw the potential of the internet. They weren't wrong in the long run. The internet really has changed the whole world. But that didn't stop them from losing a lot of money in the dot com crash. The apple stocks that they bought are now the most valuable publicly traded equities on the planet (I think, too lazy to look and make sure I'm right) but that didn't stop people from losing a ton of money on apple at the time. Crypto will probably be a lot like that too. The future amazons of the crypto world are here now. But they will probably be ridiculously over bought at some point either now or in the near future.