As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
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Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#2BTC/USD is doing just fine. Nobody who knows anything about anything made any kinds of plans involving $20,000 Bitcoin. At ~$4k, it's still 10x where it was 2 years ago. Anybody remotely involved in BTC from it's actual inception (not the bandwagon shirt-losers of 2017) is filthy stinking rich now.
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#3BTC/USD is doing just fine. Nobody who knows anything about anything made any kinds of plans involving $20,000 Bitcoin. At ~$4k, it's still 10x where it was 2 years ago. Anybody remotely involved in BTC from it's actual inception (not the bandwagon shirt-losers of 2017) is filthy stinking rich now.
> Nobody who knows anything about anything made any kinds of plans involving $20,000 Bitcoin.
Except for Goldman, Morgan Stanley, Citigroup and Barclays (see https://www.bloomberg.com/news/articles/2018-12-23/wall-stre...)...
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#4BTC/USD is doing just fine. Nobody who knows anything about anything made any kinds of plans involving $20,000 Bitcoin. At ~$4k, it's still 10x where it was 2 years ago. Anybody remotely involved in BTC from it's actual inception (not the bandwagon shirt-losers of 2017) is filthy stinking rich now.
Of course if you are filthy stinking rich, it's because you participated in a distributed scam in order to defraud money from those "bandwagon shirt-losers."
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#5BTC/USD is doing just fine. Nobody who knows anything about anything made any kinds of plans involving $20,000 Bitcoin. At ~$4k, it's still 10x where it was 2 years ago. Anybody remotely involved in BTC from it's actual inception (not the bandwagon shirt-losers of 2017) is filthy stinking rich now.
Of course if you are filthy stinking rich, it's because you participated in a distributed scam in order to defraud money from those "bandwagon shirt-losers."
What precisely was the scam? Who and how was I scamming by mining coins with my GPU and some open source software I saw on slashdot that are now worth several thousand dollars each?
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#6At what price will the Bitcoin death spiral occur? (i.e. when it costs more to produce/handle Bitcoin than the revenue generated, so best move is to just exit the crypto industry).
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#7I've seen so many local startups that are essentially scams:
March 2018: https://www.politico.com/magazine/story/2018/03/09/bitcoin-m...
November 2018: https://www.seattletimes.com/business/washington-bitcoin-pio...
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#8BTC/USD is doing just fine. Nobody who knows anything about anything made any kinds of plans involving $20,000 Bitcoin. At ~$4k, it's still 10x where it was 2 years ago. Anybody remotely involved in BTC from it's actual inception (not the bandwagon shirt-losers of 2017) is filthy stinking rich now.
> Nobody who knows anything about anything made any kinds of plans involving $20,000 Bitcoin. Except for Goldman, Morgan Stanley, Citigroup and Barclays (see https://www.bloomberg.com/news/articles/2018-12-23/wall-stre... )...
What stops GS from replacing their fee-based offerings with a blockchain solution? Could this really be as obvious in hindsight as looking at Sears in the 90s not developing an online catalog?
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#9At what price will the Bitcoin death spiral occur? (i.e. when it costs more to produce/handle Bitcoin than the revenue generated, so best move is to just exit the crypto industry).
Bitcoin was doing perfectly fine at $100, so I think these predictions are a bit premature and have some recency bias.
The price drop does lower the amount of security in the network, so it becomes cheaper to attack it. However, it also means the payoff to attack is lower.
Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back
#10At what price will the Bitcoin death spiral occur? (i.e. when it costs more to produce/handle Bitcoin than the revenue generated, so best move is to just exit the crypto industry).
Don't bitcoin costs adjust to a shrinking miner population as well as it adjusts for a growing one?
If so, the answer is never. As people give-up, the costs for the remaining ones reduce so that at some point it's lucrative again.
The interesting question is at what price people will stop speculating on its price and run to an exit? I don't think anybody can answer this one.