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The cryptocurrency sell-off has exposed those swimming naked

economist.com

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Re: The cryptocurrency sell-off has exposed those swimming naked

#161

Post by eloff »

gitfan86 wrote: post #158
eloff wrote: post #155

Earlier quoted context omitted.

Look, I tend to agree with you. Crypto has not found it's use case, it has a lot of scams, a lot of environmental issues, and other problems. It's been many years, it's fair to think if it hasn't found that killer application yet, that maybe it never will. But it's also still possible that it will. If you make a living by making long bets, then it's completely reasonable to want exposure to crypto.

If you are in the business of promoting your brand to young entrepreneurs, so that they include you in funding rounds, then yes, it makes sense to have exposure to anything that young entrepreneurs are working on. If you are in the business of owning a piece of any company that may go public via IPO or SPAC one day, then yes, might as well give money to anyone who seems like they may be able to get to that finish lin…

That 99% number you're quoting is made up. It's a value call. I think it's a reasonable position to give crypto a small chance of becoming something really big. If you're in the business of making long bets on the future, you want a piece of everything that fits that description. Including crypto. You don't know which bets will pay off, and it's nearly impossible to make an educated guess. It's simpler to just invest in everything that has that potential.

Re: The cryptocurrency sell-off has exposed those swimming naked

#162

Post by scotty79 »

wodenokoto wrote: post #157
scotty79 wrote: post #116

Earlier quoted context omitted.

You should look at >10 year graph with a log scale. What happens now is mild. Tou can do that here https://www.barchart.com/crypto/quotes/%5EBTCUSD/interactive...

How do you get the log scale to show?

In Settings above the graph.

Re: The cryptocurrency sell-off has exposed those swimming naked

#163

Post by cableshaft »

__s wrote: post #127
ZeroGravitas wrote: post #20

Earlier quoted context omitted.

Do you have a strategy of selling on the peaks (possibly even buying on the lows with some of the proceeds) to eventually exit while ahead or are you just holding because you have a strong belief that it can only rise in future and it's not worth following the day to day drama (as many do with stocks)? Either way, you personally benefit from belief in Bitcoin and crypto being generally positive, which has implication…

I bought in 2017 & sold the peak. My strategy was that in 2017 I back of the enveloped a fair price of 30k CAD, so when I checked in awhile later it was 69k CAD I knew things were getting stupid & had to sell for the memes I also sold most my investments in January because I wanted to buy a house. Moral of the story: be a lucky bastard like me I believe crypto doesn't need to "go to the moon" to succeed. If bitcoin h…

Coinbase supports staking ETH into ETH 2.0 without needing 32 ETH to do so. You can put pretty much as little as you want in. Yield is 3.68% right now. You can see what you're earning but you won't be able to move it until the ETH merge.

Re: The cryptocurrency sell-off has exposed those swimming naked

#164

Post by __s »

cableshaft wrote: post #163
__s wrote: post #127

Earlier quoted context omitted.

I bought in 2017 & sold the peak. My strategy was that in 2017 I back of the enveloped a fair price of 30k CAD, so when I checked in awhile later it was 69k CAD I knew things were getting stupid & had to sell for the memes I also sold most my investments in January because I wanted to buy a house. Moral of the story: be a lucky bastard like me I believe crypto doesn't need to "go to the moon" to succeed. If bitcoin h…

Coinbase supports staking ETH into ETH 2.0 without needing 32 ETH to do so. You can put pretty much as little as you want in. Yield is 3.68% right now. You can see what you're earning but you won't be able to move it until the ETH merge.

https://www.stakingrewards.com/earn/ethereum-2-0

Or 4.75% running it yourself, & figuring out how to run a validator seems more fun than handing coinbase your funds. I strongly disagree with people having their crypto held by third parties

Re: The cryptocurrency sell-off has exposed those swimming naked

#165

Post by anamax »

gitfan86 wrote: post #142
blitzar wrote: post #126

Earlier quoted context omitted.

> not making any bets in crypto is not a sensible accelerator. You need to make bets everywhere and hopefully some stick. Thats not how it works; VC's are allowed to pass on anything they want, and it turns out they dont cut a fat cheque to every idiot who knocks on the door.

And how many Porn companies has YC funded? Zero as far as I know, is that because porn related companies have zero chance of being profitable? Or is it that they take a moral stance against that industry?

YC only invests in companies that have a reasonable chance of having an exit.

Porn companies don't have exits.

Re: The cryptocurrency sell-off has exposed those swimming naked

#167

Post by cableshaft »

__s wrote: post #164
cableshaft wrote: post #163

Earlier quoted context omitted.

Coinbase supports staking ETH into ETH 2.0 without needing 32 ETH to do so. You can put pretty much as little as you want in. Yield is 3.68% right now. You can see what you're earning but you won't be able to move it until the ETH merge.

https://www.stakingrewards.com/earn/ethereum-2-0 Or 4.75% running it yourself, & figuring out how to run a validator seems more fun than handing coinbase your funds. I strongly disagree with people having their crypto held by third parties

If you feel like purchasing the 32 ETH to run a validator and/or set things up with a staking pool, that's great, have fun. I personally don't have that much, and I was also hesitant to put it into a staking pool since I couldn't just unstake it whenever, and I trust Coinbase a bit more than a staking pool. I have most of my crypto in non-custodial wallets myself.

Was just mentioning it in case you (or someone else on HN) weren't aware it was an option, but clearly you are.

Re: The cryptocurrency sell-off has exposed those swimming naked

#168

Post by cuteboy19 »

diggernet wrote: post #160
webmaven wrote: post #159

Earlier quoted context omitted.

Hmm. Both those cases seem to be more along the lines of "said/posted things that made YC look bad" rather than "kicked out for ghosting their mentor" or "kicked out for scamming their users"

Scamming their users makes YC look bad. Seems like a good reason to boot them.

""No one could have predicted that risk free 20% apy project would be a scam""

Re: The cryptocurrency sell-off has exposed those swimming naked

#169

Post by scotty79 »

CPLX wrote: post #141
scotty79 wrote: post #111

Earlier quoted context omitted.

> ... it come from people buying hamburgers So from money someone else put into this whole hamburger thing and won't get it back? > For example the dollars you get from selling McDonald’s stock 30 years after purchasing it come from people buying hamburgers. Some dollars not all, and most likely bot even the most. So the Bitcoin doesn't have this merchandise based mechanism for sucking the money out of the rest of th…

> So from money someone else put into this whole hamburger thing and won't get it back? They got a hamburger and ate it. People need food.

They could eat something else. From the point of view of McDonalds investor there's no guarantee money will be flowing in because of sale of hamburgers.

Re: The cryptocurrency sell-off has exposed those swimming naked

#170

Post by scotty79 »

nradov wrote: post #147
scotty79 wrote: post #111

Earlier quoted context omitted.

> ... it come from people buying hamburgers So from money someone else put into this whole hamburger thing and won't get it back? > For example the dollars you get from selling McDonald’s stock 30 years after purchasing it come from people buying hamburgers. Some dollars not all, and most likely bot even the most. So the Bitcoin doesn't have this merchandise based mechanism for sucking the money out of the rest of th…

McDonald's stock (MCD) pays a 2.39% dividend yield based on people buying hamburgers. That's hard cash paid out every year. Bitcoin doesn't pay any dividends.

Not all companies pay dividends and people don't think their stock is as worthless as bitcoin.
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