171–180 of 218 posts
People here cheer for fall of Bitcoin and end of cryto not seeing that GOOG dropped from 2999.05 to 2157 and both charts look pretty much the same?
GOOG had 22% revenue growth up to 68 billion dollars last quarter. Not being able to see the difference between GOOG and crypto pretty much sums up the sophistication of crypto investors.
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Taking the cost of hardware as a sunk cost is foolish it’s one of the largest costs
I think what OP means is: if you've already paid for the hardware, it make sense to keep mining until the cost of electricity is higher than the value of a coin. And I agree with that.
The miners already have their rigs, so the initial investment wouldn't be relevant to the decision to keep mining or not. Though, you might expect the hash rate to decay over time as miners stop buying new machines.
How this wasn’t obvious?
i wouldn't be surprised if eth survives but btc don't. Ethereum has actually built something on top of its coin, thanks to smart contract. To my knowledge, BTC is pure speculation.
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> But you use a stablecoin because it's much more convenient since its stable. I don't know how to say this without sounding snide but I am genuinely curious: you need to back every single part of that sentence up with some serious citations. Specifically can you challenge my perception that you're advocating for option B of the following: Option A: find someone to trade for , haggle, transact. Option B: trust some t…
> I don't know how to say this without sounding snide but I am genuinely curious: you need to back every single part of that sentence up with some serious citations. You can check binance and other sites that offer P2P listings and you'll find that most of the listings nowadays trade stablecoins. I can't easily cite that for F2F (face to face) but I have done F2F trades many times and it's always with stablecoins > S…
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Bitcoin has value for the same reason Visa has value. A medium of exchange is a tool, and tools people use have value. I grant the majority of the market is speculation but many of us actually regularly use Bitcoin for things like payroll, settling debts, cheap international value transfer, buying coffee, and for cash-like privacy for online purchases. For those like me that have been continually buying, saving, and…
> Bitcoin has value for the same reason Visa has value. No. Bitcoin has utility. Screws have utility also, they just don't have very much value.
Suppose bitcoin gave the equivalent utility as visa but for negligible fees. In this world, you would have the same utility for a lower cost, and the equity value of Visa would conceivably go to zero. My point is that converting utility to value depends on the ability to monetize something. If there was somehow a screw monopoly, I'm guessing the "value" of screws would go way up even with fixed utility. This of course was also true when the cost of producing a screw was much higher in the past. Technology is deflationary.
I don't know what the value of bitcoin should be (nor do I think it has comparable utility to visa), but we are undoubtedly in world where too much value is extracted from financial services relative to the utility that they provide. I think that will be disrupted, but have no idea what, if anything, will be valuable after it is disrupted.
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Bitcoin has value for the same reason Visa has value. A medium of exchange is a tool, and tools people use have value. I grant the majority of the market is speculation but many of us actually regularly use Bitcoin for things like payroll, settling debts, cheap international value transfer, buying coffee, and for cash-like privacy for online purchases. For those like me that have been continually buying, saving, and…
As a medium of exchange, the price of one bitcoin should be kind of meaningless. As long as you can quickly do the transaction and cash out on the other end, it shouldn’t really matter if BTC IS $100 or $100,000.
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Prices are gonna be dirt cheap after Ethereum switches to proof of stake in September
Hasn't that been promised and delayed dozens of times already? Do you think it will ever really happen?
ETH also briefly dropped below $1k. These should trigger a series of margin call events, shouldn't it?
If people are doing any kind of leveraged positions on Cryptocurrency then who the hell lent them the money?
Constantly surprised how out of the loop HN is on this.
ETH also briefly dropped below $1k. These should trigger a series of margin call events, shouldn't it?