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Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

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Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#291

Post by lalaland1125 »

21 wrote: post #176
lkrubner wrote: post #162

Earlier quoted context omitted.

What is the P/E ratio of Bitcoin? There is none. So there is no rational basis for any price. $1 is as valid as $1 million. There is no traditional way to analyze this investment and figure out its real worth. To the limited extent that Bitcoin helps Chinese citizens out-maneuver the capital controls that the Chinese government has tried to enforce, then it could be analyzed as a shadow of the Chinese currency, but s…

> There is no traditional way to analyze this investment and figure out its real worth. Is that bitcoin's problem or a traditional economists problem? Behavioral economics does have frameworks for thinking about bitcoin price, but then again, behavioral finance is not traditional and highly controversial. For once, it dispenses with the myth of the rational investor (homo economicus)

> Behavioral economics does have frameworks for thinking about bitcoin price, but then again, behavioral finance is not traditional and highly controversial.

So, how does behavioral economics supply a price for Bitcoin?

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#292

Post by dang »

jstanley wrote: post #238
slindz wrote: post #219

Earlier quoted context omitted.

GB blocks are basically ready with today's hardware though the need is years out. It won't be long before TB blocks can say the same, testing is underway. Current prevailing theory in BCH land is the block size is an unnecessary hinderance, and will likely be gone in the next 18 months. Exciting times!

> GB blocks are basically ready with today's hardware What are you smoking? Even 1GB blocks would be 144GB per day of blockchain growth. You can't expect people to tolerate that kind of disk usage, let alone bandwidth.

This breaks the HN guidelines. Commenters here aren't allowed to attack others no matter how wrong someone is. Please read https://news.ycombinator.com/newsguidelines.html and don't do this again.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#294

Post by imcoconut »

spookthesunset wrote: post #288
Mandatum wrote: post #280

Earlier quoted context omitted.

I think it decentralizes account fees, lending, term deposits, funds, everything. It turns the traditional banking model on its head because anyone can "become a bank" and handle the traditional "keep your money safe" model that banking was originally created for. Those getting paid for transactions will be those investing in the network infrastructure - which is also decentralized, because again - anyone can jump in…

Do bitcoin pumpers ever come up for air? None, I mean absolutely none of what you are writing will ever happen. Why? Because if Bitcoin boosters understood anything about politics, economics, math, finance, computer science, monetary policy, business, accounting, marketing or seemingly life in general.... they too would look at it and go "sounds way to good to be true. no thanks". Every single thing in your post make…

> Every single thing in your post makes zero sense

Not true. Most of the post makes sense. Trustlessness and decentralization are pretty much the only benefits to bitcoin and others like it. There are obviously real costs for these features, but also real benefits. Do the benefits justify the current valuations - only the market can determine that. I personally am quite bearish on almost all cryptoassets (so I would not be considered a "pumper"), but certainly you must see the threat they pose to the incumbent masters of the monetary system?

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#296

Post by reacharavindh »

Jtsummers wrote: post #114
komali2 wrote: post #94

Earlier quoted context omitted.

I love bitcoin and cryptocurrency as potential solutions to problems with gov-controlled currencies (I've used crypto to buy drugs, for example). But I'm still confused why people refer to purchasing currency as an "investment." Obviously the rates are going up now, but doesn't everyone expect them to just come back down? I don't convert my USD to Yen and call it an "investment."

Well, there is actual forex investing (speculating). For instance, the value of the USD versus the Argentine Peso (ARS) is something I track (my girlfriend lives there and long term I would consider moving there, current plan is for her to move here). The USD to ARS conversion is increasingly favorable for the USD, the buying power of ARS hasn't dropped significantly (in country) but the USD is worth more ARS now tha…

Out of curiosity, did you check the inflation rate of Argentina? May be you could get same value in Argentina with 20% more Argentinian currency after a year?

I found this thinking about my home land - India..

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#298

Post by zodiac »

philipov wrote: post #252
brucephillips wrote: post #245

Earlier quoted context omitted.

How is speculation parasitic?

Speculators seek to extract alpha without regard to the overall health of the instrument. Shorting is just as good as going long, so far as you make a profit.

Would you say that all short selling is parasitic?

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#300

Post by averagewall »

omegaworks wrote: post #38
joering2 wrote: post #23

Earlier quoted context omitted.

Just like with dot com burst, it doesnt mean someone will turn the lights off forever. Just like the internet eventually got mainstream and websites are being bought and sold for billions these days, same way BitCoin will never be at 0,001 cent with nobody touch it with a long stick.

As the blockchain grows ever larger the thing gets more and more useless as a currency. Just look at how long it takes a transaction to confirm.* It's digital Beanie Babies. * https://blockchain.info/charts/avg-confirmation-time?timespa...

The blockchain is only growing linearly isn't it? I just downloaded almost the entire blockchain the other day. It was a struggle, but it was also a struggle years ago. It hasn't become impossibly difficult or started to require fancy computers or internet connections.
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