At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsworker. [1] [1] https://en.wikipedia.org/wiki/Tulip_mania
Ask HN: Bitcoin about to cross $10k. Still a skeptic?
11–20 of 33 posts
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#12I was never skeptical and more of an opportunist. 10 years from now I can say I participated in the flop/success that is bitcoin.
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#13I'll stop beeing sceptical when this feels like money and not like high risk gambling.
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#14It is basically a quick Ponzi scheme.
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#15I'm very happy with the ROI I got but am cashing out on my initial investment. I'll stop being skeptical the day I can buy a burger with it.
I don't own any Bitcoin nor have I ever but why would being a burger with it stop you being sceptical? I mean you cannot (at least to my knowledge) buy burgers with gold/ETFs/Stocks, doesn't the same apply to Bitcoin?
Because it is designed to be a currency. If it fails to be a currency, it's essentially a scam.
Maybe a middle line would be digital currency, like buying stocks, gold, books online. It's a good sign that I can make international purchases now though.
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#16I'm very happy with the ROI I got but am cashing out on my initial investment. I'll stop being skeptical the day I can buy a burger with it.
at least in germany you can pay for your burger in btc if you order it online. For example on lieferando.de which is one of the biggest website for restaurant deliveries in germany
Faith in BTC restored.
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#17Even if I had gotten in at Sept it would've been quite the return by the time it hits 10K by the end of 2017 or earlier.
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#18Earlier quoted context omitted.
I don't own any Bitcoin nor have I ever but why would being a burger with it stop you being sceptical? I mean you cannot (at least to my knowledge) buy burgers with gold/ETFs/Stocks, doesn't the same apply to Bitcoin?
> I mean you cannot (at least to my knowledge) buy burgers with gold/ETFs/Stocks, doesn't the same apply to Bitcoin? Gold is a store of value and ETFs/Stocks are investment vehicles. Bitcoin is designed to be used as a currency.
Is currency not a store of value?
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#19Earlier quoted context omitted.
> I mean you cannot (at least to my knowledge) buy burgers with gold/ETFs/Stocks, doesn't the same apply to Bitcoin? Gold is a store of value and ETFs/Stocks are investment vehicles. Bitcoin is designed to be used as a currency.
Is currency not a store of value?
Not in the same way that gold is. Currencies can experience hyperinflation from increased supply (printing money), but until someone finds the philosopher's stone, gold has relatively stable supply (and subsequently - price).
Re: Ask HN: Bitcoin about to cross $10k. Still a skeptic?
#20I'll stop beeing sceptical when this feels like money and not like high risk gambling.
My own scepticism is fuelled by the fact if cryptocurrencies would disappear we'd lose nothing of value.