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Earlier quoted context omitted.
Your comment appears to be the only one in Hacker News history that says, "bitcoin crashes to 30k". Maybe the phrasing was different? It's not good when an asset class drops by 30% in 24 hours.
Don’t take it too literally, the point is YTD is still positive and 1YR charts are ridiculously in the green, beyond any bull’s dream not too long ago
other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
But if you look at it against the backdrop of sanctions, civil asset forfeiture, erosion of civil liberties, and monetary debasement, things look different.
Earlier quoted context omitted.
Your self-admitted lack of understanding is not evidence there's no value in Bitcoin.
If you want people to adopt your viewpoint, education works better without being rude and condescending. If you want to promote others beliefs that Bitcoin has become a religious cult and MLM scheme, your attitude is perfect.
Earlier quoted context omitted.
Your self-admitted lack of understanding is not evidence there's no value in Bitcoin.
please, feel free to educate me. what's the value of bitcoin, other than the tautological argument around preserving its value?
The value of cryptocurrencies is currently comprised of just a 3 components: 1) Speculation 2) Electricity 3) Compute There's going to be volatility.
other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
It's a cool technology/concept, but at the cost of all the energy it's wasting to be a "speculative asset" at best... yeah, it's frustrating.
https://www.nasdaq.com/articles/why-bitcoin-may-actually-spe...
other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
Your self-admitted lack of understanding is not evidence there's no value in Bitcoin.
other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
It has a legitimate use as a store of value / means of exchange, especially in places where private, online banking services are not great. However, because it is also used so heavily for speculation, it is very volatile and therefore not an optimal store of value / means of exchange.
It's better than gold in every way, including energy use.
Last year people would jokingly say that the headline this year would be "bitcoin crashes to 30k", and that was dismissed as stupidly bullish.
Your comment appears to be the only one in Hacker News history that says, "bitcoin crashes to 30k". Maybe the phrasing was different? It's not good when an asset class drops by 30% in 24 hours.
Being at $60K just means that a handful of suckers bought for $60K.