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Show HN: The Coinbase FOMO Calculator

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Re: Show HN: The Coinbase FOMO Calculator

#31

Post by jstummbillig »

fishtoaster wrote: post #11

A good counter to "I could have made $X bazillion if I'd gotten into Y thing at Z time" is to remember that you could have doubled your money at the horse track yesterday by betting on the right horse at the right time. So the only question is: what's different between Y thing and horse betting? Did you have enough information at Z time to know you should have invested? Or are you just wishing you could have predicte…

The difference is that Crypto is The Future.

Horse betting has been established to be just that: Betting (I have no clue if that's really true, no offense to the hn horse racing crowd). There is no big institution money that says otherwise. There are no startup wizards working in the field. Nobody claims they are going to change the world.

Crypto on the other hand is sold as the future, and the people who miss out on the future are losers. The tech is really complicated, you don't understand what's going on, but, clearly, some very smart people do and they are convinced.

The point being, it's a lot easier to disregard horses than it is to disregard the future.

Re: Show HN: The Coinbase FOMO Calculator

#32

Post by peterpost2 »

jstummbillig wrote: post #31
fishtoaster wrote: post #11

A good counter to "I could have made $X bazillion if I'd gotten into Y thing at Z time" is to remember that you could have doubled your money at the horse track yesterday by betting on the right horse at the right time. So the only question is: what's different between Y thing and horse betting? Did you have enough information at Z time to know you should have invested? Or are you just wishing you could have predicte…

The difference is that Crypto is The Future. Horse betting has been established to be just that: Betting (I have no clue if that's really true, no offense to the hn horse racing crowd). There is no big institution money that says otherwise. There are no startup wizards working in the field. Nobody claims they are going to change the world. Crypto on the other hand is sold as the future, and the people who miss out on…

>The difference is that Crypto is The Future.

[Citation needed]

Re: Show HN: The Coinbase FOMO Calculator

#33

Post by datashaman »

bestnameever wrote: post #14
aaronwalker wrote: post #6

Ive heard conflicting viewpoints on the current crypto crash. Some say that this is different than the rest, and that crypto has already reached it’s all time max, whereas others say that this is just another pullback before an even larger bull run. With crypto, it is so hard to know what it’s actual value should be, since unlike a stock there are no earnings and thus you can’t look at the P/E ratio to determine its…

> I’m curious to hear what you guys think—-and how you determine the value of crypto. The value at any point in time is determined on the exchanges. I think a better question is what changes the value, creates the volatility, and so forth.

Buy and sell pressure.

Re: Show HN: The Coinbase FOMO Calculator

#34

Post by jstummbillig »

peterpost2 wrote: post #32
jstummbillig wrote: post #31

Earlier quoted context omitted.

The difference is that Crypto is The Future. Horse betting has been established to be just that: Betting (I have no clue if that's really true, no offense to the hn horse racing crowd). There is no big institution money that says otherwise. There are no startup wizards working in the field. Nobody claims they are going to change the world. Crypto on the other hand is sold as the future, and the people who miss out on…

>The difference is that Crypto is The Future. [Citation needed]

Imagine you actually read, and understood, my entire post.

Re: Show HN: The Coinbase FOMO Calculator

#35

Post by nightski »

vages wrote: post #12
aaronwalker wrote: post #6

Ive heard conflicting viewpoints on the current crypto crash. Some say that this is different than the rest, and that crypto has already reached it’s all time max, whereas others say that this is just another pullback before an even larger bull run. With crypto, it is so hard to know what it’s actual value should be, since unlike a stock there are no earnings and thus you can’t look at the P/E ratio to determine its…

When I had crypto assets, I came upon this article about “Greater fool theory” https://en.wikipedia.org/wiki/Greater_fool_theory It made me sell all my crypto (luckily at a profit), and I have not looked back.

So you basically don't invest in anything because that theory can be applied to any asset.

Re: Show HN: The Coinbase FOMO Calculator

#37

Post by agumonkey »

fishtoaster wrote: post #11

A good counter to "I could have made $X bazillion if I'd gotten into Y thing at Z time" is to remember that you could have doubled your money at the horse track yesterday by betting on the right horse at the right time. So the only question is: what's different between Y thing and horse betting? Did you have enough information at Z time to know you should have invested? Or are you just wishing you could have predicte…

It's funny, trading games lead to philosophy. You can't maximize, everything is fuzzy, a blend of patience and reaction is key.

Re: Show HN: The Coinbase FOMO Calculator

#38

Post by mellavora »

bestnameever wrote: post #14
aaronwalker wrote: post #6

Ive heard conflicting viewpoints on the current crypto crash. Some say that this is different than the rest, and that crypto has already reached it’s all time max, whereas others say that this is just another pullback before an even larger bull run. With crypto, it is so hard to know what it’s actual value should be, since unlike a stock there are no earnings and thus you can’t look at the P/E ratio to determine its…

> I’m curious to hear what you guys think—-and how you determine the value of crypto. The value at any point in time is determined on the exchanges. I think a better question is what changes the value, creates the volatility, and so forth.

No, the clearing price is determined by the exchanges.

The value is the net benefit (including future benefit) that it provides.

McDonalds creates value by providing convenient and consistent hamburgers, and entry-level jobs.

Bitcoin, I've been told, creates value by allowing easy transfer of funds. Thus the value of Bitcoin should be based on how Bitcoin transaction costs and externalities (lack of regulation is both a plus and a minus) stack up against other money transfer systems.

Re: Show HN: The Coinbase FOMO Calculator

#39

Post by barnbuilder »

vages wrote: post #12
aaronwalker wrote: post #6

Ive heard conflicting viewpoints on the current crypto crash. Some say that this is different than the rest, and that crypto has already reached it’s all time max, whereas others say that this is just another pullback before an even larger bull run. With crypto, it is so hard to know what it’s actual value should be, since unlike a stock there are no earnings and thus you can’t look at the P/E ratio to determine its…

When I had crypto assets, I came upon this article about “Greater fool theory” https://en.wikipedia.org/wiki/Greater_fool_theory It made me sell all my crypto (luckily at a profit), and I have not looked back.

What is the difference between something explained by the "Greater Fool Theory", and any of the numerous things that simply increase in value over time due to increased demand and/or rising scarcity?

It seems to me the only difference is whether the speaker is predisposed to not like the thing in question.

Re: Show HN: The Coinbase FOMO Calculator

#40

Post by Ekaros »

Jistern wrote: post #17
aaronwalker wrote: post #6

Ive heard conflicting viewpoints on the current crypto crash. Some say that this is different than the rest, and that crypto has already reached it’s all time max, whereas others say that this is just another pullback before an even larger bull run. With crypto, it is so hard to know what it’s actual value should be, since unlike a stock there are no earnings and thus you can’t look at the P/E ratio to determine its…

As I learned from a quotation which is attributed to Mark Cuban, so-called “cyptocurrencies” are collectibles like baseball cards, rare postage stamps, and French impressionist paintings. Fundamentally they're all fads. None of them have any significant inherent value. Typically two types of people purchase them: either avid collectors or speculators. Don't gamble. It's not a productive use of your time. It's also a…

And now some of them have entered to fractional ownership... Meaning some people are there for speculation not even some type of ownership of collection... Or at least I think very few would think owning part of card stored somewhere is collecting... Really asking question does this make sense at all.
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