101–110 of 350 posts
If you are feeling regret, don't. Very few people anticipated such a significant increase. Any profit is a good profit. Even investments that seem highly promising can end up in bankruptcy. This is one of the few that managed to succeed.
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Neat, how about something from this century? And the French Revolution is more complicated than rich people getting richer.
Go to South Africa and tell me if it feels safe. Specifically the rich areas.
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How? And why isn't that being shorted? Any prediction of when this will come crashing back down?
> How? People say Bitcoin is worth $100k but what they actually mean is it's worth 100,000 "USDT", because that's the thing you can actually exchange for it. Are those 100,000 "USDT" worth $100k? Well, maybe. Tether claims every USDT is backed by a US dollar. It just can't tell you where they are or let you audit them. But they're there. Honest. > And why isn't that being shorted? How would you short it? Especially g…
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.
The bright side of this that has me excited is what seems to be a growing sense of optimism about the future, driven by AI entering the public conscious, Space X's "rocket catch" etc. There seems to be a growing belief that the future can and will be better, more so than a decade ago.
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Bitcoin is a store of value. Nothing more or less. DAOs and NFTs were just distractions trying to ride the wave. The fundamentals remain strong. It really hasn't changed much in 15 years. The Hacker News comments certainly haven't either. Salty as ever.
Bitcoin is actually just a bunch of numbers. Whatever value you think you're storing with it is always denominated in fiat which is very ironic.
The question is more like: Would you let everyone dictate the value of a currency and leave it decentralized? Or would you rather a government controlled centralized currency.
It’s preference and opinion at the end of the day
“It is but numbers on a ledger,” they said at first, dismissive of its allure. Yet the numbers grew, and their hearts darkened with greed.
I remember the great split—the Hard Fork Wars. Brothers turned against brothers, chains rent asunder, each claiming to be the true heir of Nakamoto's vision. But it was a war without banners, fought not with swords, but with hash rates and cryptographic fire. Many were the tokens that fell, discarded like the leaves of autumn, their worth reduced to naught.
I saw the rise of the altcoins, a thousand pretenders clamoring for a place in the sun. "To the moon!" they cried, their banners bright and hopeful. But most found only ruin, their holders wandering the barren wastes of forgotten wallets, muttering of rug pulls and false prophets.
Then came the age of DeFi, and the people rejoiced, for they thought they had found a new power—a magic to rival the centralized lords of old. But it was a perilous path, anon, filled with cunning contracts and exploits that devoured the unwary. I saw kingdoms built on leverage crumble in a single night, their rulers cast out into the dark.
And the NFTs! Ah, the NFTs… Each token a promise, a glimpse of eternity, they said. Men and elves alike paid dearly for these fragments of art and culture, yet many were cursed to hold only shadows, their treasures mocked by the uncaring markets.
Through it all, the Bitcoin endured, its ledger immutable, its purpose unyielding. But even it was not free from the grasping hands of fate. I remember the fall of Mt. Gox, the poisoned chalice of FTX, and the whispers of whales who moved the tides unseen. Each event a lesson, each loss a tale of hubris and folly.
Now, anon, as we stand upon the precipice of a new cycle, the wise and the weary tread cautiously. For the Bitcoin, though a gift, is also a burden. Those who seek it must be strong of will and sharp of mind, lest they too fall prey to its power.
I have seen the rise and fall of many. I have borne witness to fortunes made and lost, dreams forged and shattered. And still, the blockchain spins, unending, unyielding, like the great Eye ever watching.
Beware, anon. For the world of crypto is not for the faint of heart. It is a realm of shadow and light, where one must navigate with care, or be consumed by the fire of their own greed.
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Bitcoin is a speculative asset like a stock.
The SEC doesn't consider BTC a security, so not "like a stock"