21–30 of 96 posts
This is becoming a joke. Meanwhile, transactions times in both BTC and ETH are getting ridiculously slow.
This is a farce. There's only been negative news today and yet prices jump higher than ever. There's no conceivable way this doesn't end badly. I guess people are gambling on being lucky enough to exit before then. Edit: removed unnecessary hostility. If you have money to spare on a high risk gamble like this then by all means. But in general there's just no way everyone jumping in is fully aware of the risks.
22% surge in a single day.
This is going to end well.
I anticipate that a lot of comments about "bad bubble" and "bad bitcoin" will emerge like on every thread about bitcoin on HN. I think people just don't understand that most participants in "Bitcon boom" knows this is a bubble. Every major news outlet says it's a bubble every couple of weeks. This is a common knowledge, everyone are saying it's a bubble. I know it's a bubble too and I have bitcoins but I don't care t…
People are obviously not capable of understanding risk. Are you serious? You bring up casinos when they are perhaps the best example of how ill-equipped the majority of people are to understand risk and probability.
I anticipate that a lot of comments about "bad bubble" and "bad bitcoin" will emerge like on every thread about bitcoin on HN. I think people just don't understand that most participants in "Bitcon boom" knows this is a bubble. Every major news outlet says it's a bubble every couple of weeks. This is a common knowledge, everyone are saying it's a bubble. I know it's a bubble too and I have bitcoins but I don't care t…
How is that relevant, the price spiking isn't because of people like you. It's because of people buying in now. People are obviously not capable of understanding risk. Are you serious? You bring up casinos when they are perhaps the best example of how ill-equipped the majority of people are to understand risk and probability.
I wrote in my last sentence that they take the highest risk.
> how ill-equipped the majority of people are to understand risk and probability.
If that's true then conclusion would be that democracy/any liberal system is the worst system of them all, because if majority of people do not understand risk and probability they shouldn't be allowed to even vote.
As I already wrote, all the data is there, just turn on the TV and you will hear "it's a bubble". No one is deceiving anyone in saying it's not a bubble in mainstream media.
looks $ flowing out of alts and into bitcoin, which is somewhat surprising given the concerns over high transaction fees
I don't think anyone knows WTF is going on with it. I also sincerely hope people have only invested what they can afford to lose -- and that they've realized the gains that they'd be happy with. Of course, it could just as likely be $20k tomorrow.
Sentiment on HN, Twitter and the financial press is nearly unanimously negative. Co-workers and family members are convinced this will end in tears for the foolish speculators.
But one thing bugs me about all this.
Historically, bubbles burst after long-time critics finally capitulate. Pyramids and Ponzis collapse when most people have bought in and there's nobody left to sell to.
Are there any examples of bubbles bursting when 98% of the population knew it was a bubble in advance?
This is a farce. There's only been negative news today and yet prices jump higher than ever. There's no conceivable way this doesn't end badly. I guess people are gambling on being lucky enough to exit before then. Edit: removed unnecessary hostility. If you have money to spare on a high risk gamble like this then by all means. But in general there's just no way everyone jumping in is fully aware of the risks.
Indeed we are.
I've got friends and colleagues who don't even know how to setup their mobile phone wanting to buy in to BTC. They are actually managing to do it because of the proliferation of new, simple, exchanges. What makes matters worse is they have no idea what a wallet is - leaving everything in the exchange.
This is a farce. There's only been negative news today and yet prices jump higher than ever. There's no conceivable way this doesn't end badly. I guess people are gambling on being lucky enough to exit before then. Edit: removed unnecessary hostility. If you have money to spare on a high risk gamble like this then by all means. But in general there's just no way everyone jumping in is fully aware of the risks.
I wonder if we will still see this kind of crazy rallies as it will be easier to short it.