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Bitcoin is over $100k

tradingview.com

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Re: Bitcoin is over $100k

#11

Post by thinkingkong »

echelon wrote: post #5
equasar wrote: post #3

Not surprised. They're minting Tether USD out of thin air to inflate the price, so it's no shock.

How? And why isn't that being shorted? Any prediction of when this will come crashing back down?

On the contrary. Your way better hedge was polymarket not hitting 100k prior to the election.

Re: Bitcoin is over $100k

#13

Post by z2 »

echelon wrote: post #2

Here we go again... Hopefully this pulls competition away from the space I'm in and back into crypto. The last time crypto crashed, crypto folks flooded into generative media and we kind of became associated with them. I'm just trying to make tools.

If crypto has this much staying power despite the crazy hype, any AI winter would appear to be a long ways off!

Re: Bitcoin is over $100k

#14

Post by some-guy »

Is there way to quantify how much of the economy these days is "bullshit" (purely speculative assets), and if we are at peak bullshit now as a percentage of total economic activity?

Re: Bitcoin is over $100k

#15

Post by csomar »

deadbabe wrote: post #12

Why hell does this keep going up? Can you pretty much just buy at any point in time and be guaranteed a 10x return?

If you hold long enough and the chain keeps working, then probably yes. However, this 10x return is guaranteed against the dollar and not real value. The gov. is committed to devaluing currency over a long period of time.

Re: Bitcoin is over $100k

#16

Post by xyzzy4747 »

some-guy wrote: post #14

Is there way to quantify how much of the economy these days is "bullshit" (purely speculative assets), and if we are at peak bullshit now as a percentage of total economic activity?

The entire economy outside of agriculture and real estate is basically "bullshit", if you really think about it. The ratio of bullshit to everything else seems to increase over time, though, as a general trend. It's probably correlated to technology.

Re: Bitcoin is over $100k

#20

Post by wmf »

monero-xmr wrote: post #7
equasar wrote: post #3

Not surprised. They're minting Tether USD out of thin air to inflate the price, so it's no shock.

The Tether Truthers never fail to spread their conspiracy. HN should just admit it got crypto 100% wrong.

Tether admitted they loaned USDT against BTC collateral and they allowed the collateral to be delivered later (basically T+2 settlement). When the order book is shallow this is basically free market manipulation. It's not clear how much loaned USDT exists vs. regular USDT and what effect this has had on the price.
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