suffered.d ethereum erik schatzker spoke with ethereum co-founder joseph lubin, who wasn't fazed by all swings. joseph: this is something we have seen so many times in the blockchain ecosystem since 2009, when bitcoin was invented. we have seen rises and falls. we have seen what many call bubbles, and i would agree. erik: that what happened last year was a bubble? joseph: we have seen six big bubbles, each more epic than the previous one. each of these bubbles are astonishing when they are happening, but when you look back, they seem like little pimples on a chart, really, because the growth has been exponential. each of these bubbles has the advantage of bringing attention into our ecosystem. it brings entrepreneurs. it brings developers. it brings money. it brings the prospect of building fundamental infrastructure and creating more value, so what we have noticed is with each of these bubbles, we have a tremendous surge of activity, and that is what we are seeing now. so we had a big bubble. i think we are something back -- back to something like november, december prices, which we th

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scarlet: great -- erik: scarlet, that was joseph lubin, great to have him here.n exponential times. from new york, this is bloomberg. ♪ scarlet: this is "bloomberg markets." lisa: it's time for the bloomberg business flash. a snapshot of the biggest business stories in the news today. kroger, taking its first step into overseas sales. the grocery chain will sell its products in china on it e-commerce site owned by alibaba . for now they will offer dietary supplements and private ladle -- label products. a group of tinder founders and early employees are suing become a that owns the dating cap, interactive is trying to cheat them out of $2 billion in stock options. swiping through the mobile app has become a ubiquitous part of the millennial culture and beyond. they call the lawsuit sour grapes. lisa: check us -- scarlet: check us out on the bloomberg, macy's will be reporting tomorrow. this is bloomberg. ♪ scarlet: this is "bloomberg markets." lisa: time for options insight. abigail: joining me today is kevin kelly, a benchmark advancements. -- investments. we're

lubin. cofounder, joseph joining us from abu dhabi. how worried are the crypto investors at this point? re richer. a pimple according to mr. lubin, would you concur? >> i'm not sure i would use that exact description, pimple on a chart. but to your question, the flip it response -- flippant response investors should respond. if you took out a second mortgage to get that point -- to get bitcoin, you should be worried but if you bought in cash as recently as october, your head is still above water. just barely for the moment. there is some reason for concern. this week we have seen broad volatility in the wider market. if you think bitcoin and cryptocurrencies were supposed to be a diversification play to other financial assets, we have not seen that this week. correlated tomore general greed and excitement in the financial markets more generally. if you thought cryptocurrencies were an outlet for countries experiencing capital controls, look at the example of turkey, we have not seen that many people switching out of the lira and into cryptocurrencies. at least not to push up the price. t