Bitcoin Plummets Below 40K • Hacker News Board

Re: Bitcoin Plummets Below 40K

#11

Post by spurgu » Wed, May 19, 2021, 9:44 AM UTC

normaler wrote: post #7

When bitcoin drags monero under 100$ again, I buy some more of that. Just because I actually like it as a currency.

Yup, it actually has a real world use case as online cash.

Re: Bitcoin Plummets Below 40K

#12

Post by mikewarot » Wed, May 19, 2021, 9:47 AM UTC

I'll buy at $1.00 to replace the Bitcoin I lost to MtGox years back

Re: Bitcoin Plummets Below 40K

#13

Post by fho » Wed, May 19, 2021, 9:50 AM UTC

mikewarot wrote: post #12

I'll buy at $1.00 to replace the Bitcoin I lost to MtGox years back

Yeah ... I still occasionally get a (analog) mail in Japanese informing me that the bankruptcy procedure is still ongoing.

Luckily it was "just" 1 BTC.

Re: Bitcoin Plummets Below 40K

#14

Post by creshal » Wed, May 19, 2021, 9:50 AM UTC

988747 wrote: post #4

I wonder if this has anything to do with recent Tether reserve report: https://www.coindesk.com/tether-first-reserve-composition-re... Since the report does not really specify what exactly the reserves are we can expect NYAG to not be happy with it, and taking further steps against Tether.

A mix of that plus Elon dunking on it plus China tightening regulations plus Ethereum news about PoS progress, probably.

Re: Bitcoin Plummets Below 40K

#15

Post by slezyr » Wed, May 19, 2021, 9:57 AM UTC

spurgu wrote: post #11

normaler wrote: post #7

When bitcoin drags monero under 100$ again, I buy some more of that. Just because I actually like it as a currency.

Yup, it actually has a real world use case as online cash.

Is it? Avg. transaction fee is 13$ [1] and it takes hours to confirm it.

1: https://bitinfocharts.com/comparison/bitcoin-transactionfees...

Re: Bitcoin Plummets Below 40K

#16

Post by squealish » Wed, May 19, 2021, 10:01 AM UTC

slezyr wrote: post #15

spurgu wrote: post #11

Earlier quoted context omitted.

Yup, it actually has a real world use case as online cash.

Is it? Avg. transaction fee is 13$ [1] and it takes hours to confirm it. 1: https://bitinfocharts.com/comparison/bitcoin-transactionfees...

I think they're talking about Monero. It currently has fairly low fees [1]

1: https://bitinfocharts.com/comparison/monero-transactionfees....

Re: Bitcoin Plummets Below 40K

#17

Post by asdev » Wed, May 19, 2021, 10:04 AM UTC

checks price 40.3k...yeah it really plummeted. Everyone who upvoted this is a FUDster

Re: Bitcoin Plummets Below 40K

#18

Post by nly » Wed, May 19, 2021, 10:07 AM UTC

Things that go up for no apparent reason can come down for no apparent reason.

Re: Bitcoin Plummets Below 40K

#19

Post by Yuioup » Wed, May 19, 2021, 10:10 AM UTC

Does anybody use bitcoin for payment at all or is it only speculation at this point?

Re: Bitcoin Plummets Below 40K

#20

Post by FabHK » Wed, May 19, 2021, 10:12 AM UTC

bruce343434 wrote: post #6

londons_explore wrote: post #2

If it gets down to 1k again like a few years ago, I'll buy!

Sorry, but why? Because you think it will go up even thought the fundamentals of the product suck? Are you building castles in the air? Not to be rude, but bitcoin is slow and inefficient. It also has terrible privacy. It's getting replaced by other coins.

> bitcoin is slow and inefficient

Oh, come on. If it gains universal adoption, it is fast enough that every human being can make one transaction in their lifetime, maybe even two! What more do you want???