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The crypto crisis has created an advertising vacuum

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Re: The crypto crisis has created an advertising vacuum

#81

Post by AlexandrB »

divs1210 wrote: post #64
mjburgess wrote: post #50

A friendly reminder that crypto is negative-sum. If everyone who has taken money out returns it to everyone who has put money in, then there's a net loss. Why? Because money was taken out to pay the electric companies for mining, to the tune of 10-20Bn so far. Has that money generated real returns anywhere? Nope. Nothing was manufactured, created, or improved. The sum is negative. All past and present holders of cryp…

> Has that money generated real returns anywhere? Snowden and Navalny were funded via BTC.

Feels like organized crime organizations could smuggle money to VIPs we want to fund for less than $20bn.

Re: The crypto crisis has created an advertising vacuum

#82

Post by mason55 »

brendoelfrendo wrote: post #44
labrador wrote: post #38

> Don’t expect to see many crypto ads for a minute "I haven't seen him for a minute" "I haven't been home for a minute" If you're wondering like me why everyone started saying "for a minute" and where it came from, I recently watched The Wire and that's the earliest use I know about. When I was growing up in America, people said they "had to stand in line" but now they say "had to stand on line" I believe "stand on"…

> When I was growing up in America, people said they "had to stand in line" but now they say "had to stand on line" Is this a generational/regional thing? I'm an East Coast millennial and I never hear people say "stand on line." The "in a minute" example I believe comes from AAVE, if it was present in The Wire it was probably common in the Baltimore lexicon long before that show hit HBO.

AFAIK, stand “on” line is pretty much an NYC thing

Re: The crypto crisis has created an advertising vacuum

#83

Post by mjburgess »

junofan wrote: post #72
mjburgess wrote: post #50

A friendly reminder that crypto is negative-sum. If everyone who has taken money out returns it to everyone who has put money in, then there's a net loss. Why? Because money was taken out to pay the electric companies for mining, to the tune of 10-20Bn so far. Has that money generated real returns anywhere? Nope. Nothing was manufactured, created, or improved. The sum is negative. All past and present holders of cryp…

If I buy Monero using dollars and use the Monero to transact anonymously, what have I lost without realizing it?

What did you buy with that Monero?

Sure, if you can exchange coins for goods consistently, then the value of that basket of goods is the value of the coin.

ie., take a BTC and go to every store, across the economy, and exchange it for goods. Do that until you've spent all the BTC. Divide by the number of BTC, and that's a reasonable estimate of the value.

However, since you can't do that... and, indeed, doing anything even remotely similar would immedaitely crash the price... there's no basis on which to value crypto. There doesnt seem any rational basis on which anyone would trade 1 BTC (etc.) for anything.

The only reason BTC has a nominal price is that it can't actually be consistenly exchanged, by holders, for goods; and holders are strongly discouraged from doing so by its deflationary design.

Were such opporunities actually presented, tomorrow 1BTC would buy a car, next week a vodka, the week after a pack of gum

Re: The crypto crisis has created an advertising vacuum

#84

Post by loeg »

kleer001 wrote: post #61
ALittleLight wrote: post #40

Earlier quoted context omitted.

That's when I plan to buy as much as possible.

Same. My gut check puts the bottom of BTC for this cycle around 14-17K USD. We'll see.

GP was making a joke about having to be paid to own crypto.

Re: The crypto crisis has created an advertising vacuum

#85

Post by loeg »

cowtools wrote: post #80
loeg wrote: post #76

Earlier quoted context omitted.

Actually, anti-crypto sentiment is good and pro-crypto sentiment isn’t. “Both-sidesing” this is nonsense.

are cryptocurrency supporters "literally hitler" now?

This is not responsive to my comment.

Re: The crypto crisis has created an advertising vacuum

#86

Post by unclewalter »

brendoelfrendo wrote: post #44
labrador wrote: post #38

> Don’t expect to see many crypto ads for a minute "I haven't seen him for a minute" "I haven't been home for a minute" If you're wondering like me why everyone started saying "for a minute" and where it came from, I recently watched The Wire and that's the earliest use I know about. When I was growing up in America, people said they "had to stand in line" but now they say "had to stand on line" I believe "stand on"…

> When I was growing up in America, people said they "had to stand in line" but now they say "had to stand on line" Is this a generational/regional thing? I'm an East Coast millennial and I never hear people say "stand on line." The "in a minute" example I believe comes from AAVE, if it was present in The Wire it was probably common in the Baltimore lexicon long before that show hit HBO.

From Juba to Jive[0]: "In a minute (1980s-1990s) in the future, perhaps a month from the time said, but not immediately. (Southern city use)"

[0] - Juba to Jive edited by Clarence Major

Re: The crypto crisis has created an advertising vacuum

#87

Post by AlexandrB »

yieldcrv wrote: post #35
cynusx wrote: post #22

Earlier quoted context omitted.

Of which one stablecoin that everybody knows is very unreliable is still alive and well. That's very likely to collapse too soon imo.

Rumors are swirling about USDC via Silvergate bank as well, which would be tragic and take down DAI too

The way DAI has been explained to me, this is not likely to happen unless USDC transactions are frozen entirely. Otherwise there's just going to be a flood of USDC collateral liquidations from DAI.

Re: The crypto crisis has created an advertising vacuum

#88

Post by cowtools »

junofan wrote: post #72
mjburgess wrote: post #50

A friendly reminder that crypto is negative-sum. If everyone who has taken money out returns it to everyone who has put money in, then there's a net loss. Why? Because money was taken out to pay the electric companies for mining, to the tune of 10-20Bn so far. Has that money generated real returns anywhere? Nope. Nothing was manufactured, created, or improved. The sum is negative. All past and present holders of cryp…

If I buy Monero using dollars and use the Monero to transact anonymously, what have I lost without realizing it?

As much as I like XMR, you have to admit that you are still paying the (albeit very competitive and CPU-based) miners for verifying your transaction, in both the transaction fee and inflation due to tail emission.

Re: The crypto crisis has created an advertising vacuum

#89

Post by stephc_int13 »

ditonal wrote: post #63
hn_throwaway_99 wrote: post #3

"And nothing of value was lost." This was one of the top voted posts in the Austin subreddit recently: https://old.reddit.com/r/Austin/comments/vmtmul/finally_some... Seriously, during other crashes, I remember thinking of the real negative externalities that happened during the crash, e.g. many economists have drawn lines to the current housing supply crunch due to underinvestment after the Great Recession. I don't…

Hacker News has gotten overwhelmingly anti-crypto to an extent it’s as bad an echo chamber as many pro-crypto echo chambers. People have such a hatred for crypto they are overjoyed to celebrate a crypto crash. They were annoyed people they disliked were getting rich and now feel “vindicated” the bubble is popping. But…have people actually looked around? Airbnb stock is down 80% in the last 6 months. Netflix, Twilio,…

I absolutely fall in the category of crypto haters, for technical, political and moral reasons, and I can't help but feel some joy and excitement when I see it crashing.

Of course I am aware of my strong bias, I don't think I will ever be neutral on this subject, but it does not matter as this bias is only affecting my personal decisions.

Is it even possible to build a neutral judgment on this thing?

Re: The crypto crisis has created an advertising vacuum

#90

Post by kareemsabri »

ditonal wrote: post #63
hn_throwaway_99 wrote: post #3

"And nothing of value was lost." This was one of the top voted posts in the Austin subreddit recently: https://old.reddit.com/r/Austin/comments/vmtmul/finally_some... Seriously, during other crashes, I remember thinking of the real negative externalities that happened during the crash, e.g. many economists have drawn lines to the current housing supply crunch due to underinvestment after the Great Recession. I don't…

Hacker News has gotten overwhelmingly anti-crypto to an extent it’s as bad an echo chamber as many pro-crypto echo chambers. People have such a hatred for crypto they are overjoyed to celebrate a crypto crash. They were annoyed people they disliked were getting rich and now feel “vindicated” the bubble is popping. But…have people actually looked around? Airbnb stock is down 80% in the last 6 months. Netflix, Twilio,…

Airbnb is down 58% from its 52-week high. I'm not sure the point you're making though. Even if high-flying stocks went down 99% that's not a defense of crypto per se. "Stocks go down" isn't a redemption of the crypto narrative.

That said, if you did want to use tech stocks as a comparison, Bitcoin is the flagship asset of crypto, and meant to be the most stable (deflationary etc.) so more akin to Apple. Apple is essentially flat over the past year.

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