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Bitcoin swings as civil war looms

bbc.com

11–20 of 73 posts

Re: Bitcoin swings as civil war looms

#11
post #2

Has anyone noticed a paradigm shift in the way Bitcoin and Ethereum are treated on HN?

Not really, IMO mostly people just got tired of talking about them.

Which is a bad canary in the coal mine, for something backed up by hype. Unless we eventually see TV commercials pumping up gold I mean bitcoin.

Re: Bitcoin swings as civil war looms

#12

This article is delusional if it thinks the swings have anything to do with the bitcoin civil war. Bitcoin has always been volatile, and will continue to be volatile. It's a gambler's currency. People always try to assign a reason to things. We don't like accepting that there just aren't any reasons. But as someone who has seen bitcoin go up and down and back again over years, there really isn't a reason for it besid…

I think you're underestimating just how big a deal the split was. It could have lead to Bitcoin being split into two distinct currencies, and this was happening on a very short and defined timeline (July 21st and August).

The swings absolutely were caused by anxiety/relief around this event.

Re: Bitcoin swings as civil war looms

#13
post #11
post #2

Has anyone noticed a paradigm shift in the way Bitcoin and Ethereum are treated on HN?

Not really, IMO mostly people just got tired of talking about them. Which is a bad canary in the coal mine, for something backed up by hype. Unless we eventually see TV commercials pumping up gold I mean bitcoin.

inb4 Rosland Capital opens a cryptocurrency exchange.

Re: Bitcoin swings as civil war looms

#14
post #10

Earlier quoted context omitted.

I think it's implying the argumentative state when currencies are brought up. There's a lot of emotions wrapped around all the nonsense of forks, the random thefts, and general new but somewhat difficult to understand technology. For most people it doesn't serve a purpose outside of what they're reading (I own a few bitcoin that I mined back in 09, but I'm never really compelled to use them for anything due to headac…

I've never quite understood the argument that bitcoin are difficult to spend. I have bought things with them and it's so much easier than credit cards! You open a wallet app, point your phone at your computer and tap yes, done. Credit cards you have to (optionally) make sure the site won't steal your number, go get your physical wallet, fill out a rather long form (that sometimes throws an error and makes you fill it…

None of your criticisms of credit cards seem valid.

> Credit cards you have to (optionally) make sure the site won't steal your number,

Nope. If it's stolen, you get issued a new card and all the old transactions are refunded.

> go get your physical wallet, fill out a rather long form

Browser integration makes it easy to fill out these forms. I don't use it, but I've seen people who do.

> and then occasionally call the issuer because they decided someone might have stolen your card and won't let the transaction go through because it's big.

In my experience card companies let the transaction go through even if it's big. Then they call you. Mine sends me a text saying "Was this you? Type 1 for yes" and that's the end of it. I like that. It's a good thing.

Re: Bitcoin swings as civil war looms

#16
post #2

Has anyone noticed a paradigm shift in the way Bitcoin and Ethereum are treated on HN?

Nope, it still seems as hostile as ever. Every top voted comment on a thread concerning crypto will be people cheering its inevitable demise and mocking its naive supporters.

I can only imagine it's a mixture of jealousy and sour grapes from missing out on crypto's rise, but it feels strange that a forum dedicated to tech is so angry and dismissive towards a really interesting new technology.

Re: Bitcoin swings as civil war looms

#17
post #2

Has anyone noticed a paradigm shift in the way Bitcoin and Ethereum are treated on HN?

Completely. I also see more coverage in media and I think it it related. Also, beyond the hype there are technical issues that are important to discuss here.

Re: Bitcoin swings as civil war looms

#19

This article is delusional if it thinks the swings have anything to do with the bitcoin civil war. Bitcoin has always been volatile, and will continue to be volatile. It's a gambler's currency. People always try to assign a reason to things. We don't like accepting that there just aren't any reasons. But as someone who has seen bitcoin go up and down and back again over years, there really isn't a reason for it besid…

It just looks like market manipulation (which is not illegal in an unregulated market). Pump the price up to make huge profits shorting on the next big dump (August 1?), then buy a lot and pump it again.

This was written 2 days ago: https://www.linkedin.com/pulse/how-manipulate-bitcoin-market...

Re: Bitcoin swings as civil war looms

#20
post #2

Has anyone noticed a paradigm shift in the way Bitcoin and Ethereum are treated on HN?

Nope, it still seems as hostile as ever. Every top voted comment on a thread concerning crypto will be people cheering its inevitable demise and mocking its naive supporters. I can only imagine it's a mixture of jealousy and sour grapes from missing out on crypto's rise, but it feels strange that a forum dedicated to tech is so angry and dismissive towards a really interesting new technology.

I think it's incredibly interesting and the the tech / concept is extremely impressive. (We still don't even know who thought this up, do we?)

That being said, I'm one of the people who have always mocked bitcoin. There are so many obvious problems with it, and some of the people in the cult built around it lack a hilarious amount of self-awareness.

Congrats to those who speculated successfully regardless. I'm not salty about people who jumped on $AMD over a year ago, or any tulips throughout history.

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