Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero • Hacker News Board

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#11

Post by omeid2 » Sat, Jun 30, 2018, 5:52 AM UTC

joe_the_user wrote: post #5

I have no idea if this will end the madness but I hope it will. Given bitcoin's vast energy consumption, the "production" of bitcoins produces enough pollution to be responsible for a significant number of deaths, amortized. [1] Thus I have zero sympathy with those who may lose money here. [1] https://www.forbes.com/sites/shermanlee/2018/04/19/bitcoins-...

I don't think bitcoin is of much value either, but I think you're going too far, in the grand of scheme of things, any deaths related to bitcoin doesn't even register.

On the other hand, there are people making trillions of dollars by literally being engaged in murder-business that is war racketeering. And there is lots of "normal" and "common" people involved, from the politicians, to engineers, and all the way to the top, all the while, military men and women are worshiped as heroes.

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#12

Post by lostmsu » Sat, Jun 30, 2018, 5:53 AM UTC

Dollar bloodbath nears dot-com level as many shitstocks go to zero.

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#13

Post by trishmapow2 » Sat, Jun 30, 2018, 5:54 AM UTC

Clickbait title and actually references 'Dead Coins' website which is completely unreliable - not to mention the fact that I could 'create' a new token worth zero in about 5 minutes.

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#14

Post by ganeshkrishnan » Sat, Jun 30, 2018, 5:56 AM UTC

News of my death have been greatly exaggerated.

- Mark Twain

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#15

Post by ruskerdax » Sat, Jun 30, 2018, 5:56 AM UTC

for_i_in_range wrote: post #7

If you bought $25k of BTC the first time an article like this ran in 2011 you’d have $75M right now. Maybe I’ll go ahead buy. Thx.

I always have a hearty chuckle when articles like this are published. It was a little amusing when I saw people freak out when it "crashed" back down to a value over 500% of what it was just a short time earlier. Now it's even funnier. I don't know how many times people like this have to watch this happen before they get a clue.

There are few things more pathetic than someone who has been screeching arrogantly about the demise of cryptocurrency for over half a decade, laughing and taunting when the price decreases or someone gets scammed, and gnashing their teeth and desperately tweeting or posting when it soars, yet again, in response to market demand. If they'd used one PC to mine BTC in their downtime instead of screaming "LOL libertarians" they'd have paid off their house. If they'd put a few hundred dollars into it at literally any time in 2013, they'd be sitting on at least as much.

Please keep doing this stuff. It never gets old to me.

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#16

Post by tmikaeld » Sat, Jun 30, 2018, 5:57 AM UTC

aphextron wrote: post #6

This is really clickbaity. The title implies Bitcoin just rapidly fell in value. It's been slowly declining all year, and is still nearly 10x where it was last year.

It's serious for miners, if I remember correctly - bitcoin is only profitable at ~7000$. But it's quite a bit below that now.

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#17

Post by mlindner » Sat, Jun 30, 2018, 5:57 AM UTC

tigershark wrote: post #10

aphextron wrote: post #6

This is really clickbaity. The title implies Bitcoin just rapidly fell in value. It's been slowly declining all year, and is still nearly 10x where it was last year.

Going from 20k to 5k seems like a crash to me...

So was the crash from 1k to 200...

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#18

Post by shittyadmin » Sat, Jun 30, 2018, 5:57 AM UTC

tigershark wrote: post #10

aphextron wrote: post #6

This is really clickbaity. The title implies Bitcoin just rapidly fell in value. It's been slowly declining all year, and is still nearly 10x where it was last year.

Going from 20k to 5k seems like a crash to me...

As did $30 to $2 back in the day. And again at $1k to $300.

It's sort of standard practice for Bitcoin at this point. Not saying it's a guaranteed recovery, but at the same time it's not exactly an unprecedented event.

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#19

Post by donpdonp » Sat, Jun 30, 2018, 5:58 AM UTC

tigershark wrote: post #10

aphextron wrote: post #6

This is really clickbaity. The title implies Bitcoin just rapidly fell in value. It's been slowly declining all year, and is still nearly 10x where it was last year.

Going from 20k to 5k seems like a crash to me...

Here is another way to look at the price:

  June 29 2017 BTC $2,480
  June 29 2018 BTC $6,414

Re: Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

#20

Post by mavdi » Sat, Jun 30, 2018, 5:59 AM UTC

According to such articles bitcoin has been crashing for nearly 10 years. The problem often being it being compared to other assets. It's a totally new concept and has never followed any previous pattern in human history.