271–280 of 463 posts
And still, even on HN, the discussion of cryptocurrency is oscillating between totally different axioms? Some of us speak as prophetic market analysts and bring up "nails in coffins" and other crystal ball bull shit, and some of us wonder about the technology itself and understand that the price against the dollar only matters to gamblers.
This is pretty silly. There is no technology to bet. Nobody bet money on Linux or Android. They just happened. These things are not money problems... They are people problems: greed, stupidity and thinking they are better than the average Joe or Jane.
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This is also the result of the federal governments of the world, the US in particular, choking off all the fiat crypto exchanges with their expanded and draconian know your customer laws. As an anecdote, I didn't buy my monthly bitcoin purchase early this month because I've been (and still am) locked out of my ~5 year old coinbase account I use constantly because they are being required to require new forms of ID and…
Ignoring the debate about whether these regulations are a good or a bad thing, don't you think that the fact that "the federal governments of the world" (not sure what you meant exactly by that) are capable of chocking exchanges and harming cryptocurrencies in the process prove that the dream of a decentralized, unregulated currency is out of reach? Even though the bitcoin network itself is censorship-resistant clear…
The theory is that you wouldn't really need crypto-fiat exchanges because opportunities to earn and spend cryptocurrency directly would turn up everywhere, and eventually crypto would just crowd out fiat because it's all-around better.
Well, turns out nobody really cares about censorship-resistance nearly as much as about getting rich without doing anything for it.
And still, even on HN, the discussion of cryptocurrency is oscillating between totally different axioms? Some of us speak as prophetic market analysts and bring up "nails in coffins" and other crystal ball bull shit, and some of us wonder about the technology itself and understand that the price against the dollar only matters to gamblers.
This is pretty silly. There is no technology to bet. Nobody bet money on Linux or Android. They just happened. These things are not money problems... They are people problems: greed, stupidity and thinking they are better than the average Joe or Jane.
Everything sells off this time of year. Nasdaq is down 7% on the month. It’s end of year profit-taking for tax purposes. As BTC has become completely mainstream now, this makes sense.
Miners in China supposedly throwing out their rigs after this latest crash made them too expensive to keep running. https://twitter.com/DoveyWan/status/1064878600594305025
Does this mean GPUs will be flooding the market? I've been looking to buy something for gaming... https://us.bidvoy.net/gtx_1070/27386 Guess not. I suppose if most of the miners are on BTC, they'll be using custom ASICs.
GPU prices are fairly cheap right now to be honest. I just picked up a GTX 1060 6GB for $139.
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I discussed the things that happened specifically on November 14th in my Quora answer: https://www.quora.com/Why-did-the-price-of-Bitcoin-plummet-d... It's very very likely because of the Bitcoin Cash fork. It has become a pissing contest between Roger Ver (Bitcoin ABC) and Craig Wright (Bitcoin SV). While Craig trolls and threatens the Bitcoin ABC side by "bleeding them dry" in a hash war. Jihan Wu, founder of Bitma…
I think it's fascinating that this is 100% different than what Bitcoin was sold as. The theory of Bitcoin was basically "money without people". You wouldn't have to worry about governments and politics; value would be sent and stored in pure pieces of math. Mere governments couldn't possibly do as well as the glorious algorithms wisely fixed in advance by, etc, etc. But if you're right, Bitcoin has way more politics…
Bitcoin, in a world where it is the sole currency, has the benefits you quoted.
Still up 500% since January 2017.