51–60 of 130 posts
Reading through the comments here, it seems that most people on HN vastly underestimate the significance of the "store of value" use case. It is a core aspect of human life. And there is no other asset that does that with as little inflation and risk as Bitcoin. That seems counterintuitive because Bitcoin is portrayed as a very risky asset. Which it is in the short term. But long term, fiat, gold, equity, and real es…
I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
Thanks for sharing your story. I too frequently think back on "what could have been." Back in 2013, I bought and sold a bitcoin, and every time I see a crypto headline I remember my mistake of spending it. Maybe we should not be so hard on ourselves. Afterall, we still have a heartbeat. Did we truly make a mistake, or did we narrowly avoid getting consumed by avarice?
There's no point kicking yourself over not foreseeing a far-fetched future scenario, if you were at a casino and a roulette spin landed on 12 - would you feel bad for not betting on that happening, despite having no good information it would land on that?
Looking at btc price charts in dollar and euro can give you a good feel for how much everyone who earns dollars or holds assets denominated in dollars lost of their purchasing power since Trump took office. If you didn't get a raise (or appreciacion) of 18% since then you are in the red.
i got a raise of 4% this year to account for "inflation". honestly id have preferred a pack of jelly beans, that would atleast be honest and funny.
Reading through the comments here, it seems that most people on HN vastly underestimate the significance of the "store of value" use case. It is a core aspect of human life. And there is no other asset that does that with as little inflation and risk as Bitcoin. That seems counterintuitive because Bitcoin is portrayed as a very risky asset. Which it is in the short term. But long term, fiat, gold, equity, and real es…
LOL. Having 30% drops is not 'little risk':
* https://www.cnbc.com/2021/05/19/bitcoin-btc-price-plunges-bu...
Or 50%:
* https://www.nbcnews.com/business/markets/bitcoin-whats-going...
I want a 'store of value' to be fairly predictable, and even with inflation (generally 0-4%) fiat currencies have that (I can plan around that by investing in bonds and equities, or even some bank savings products).
I find it difficult to believe it has to do with the US regulation of crypto. These movements are made by whales, and were made for decades before regulation was in place. US citizens already have the dollar as a store of wealth so they need bitcoin less. If anything i expect a "sell the news" after this crypto week
The speculators are hoping that Trump will give them what they’ve been hoping for: officially-backed demand. That helps with both volatility and simple volume, and if it comes with exemptions for some of the anti-money laundering or gambling policies it could allow some of the businesses which have stayed out of the American market to come in and drum up business.
Reading through the comments here, it seems that most people on HN vastly underestimate the significance of the "store of value" use case. It is a core aspect of human life. And there is no other asset that does that with as little inflation and risk as Bitcoin. That seems counterintuitive because Bitcoin is portrayed as a very risky asset. Which it is in the short term. But long term, fiat, gold, equity, and real es…
> And there is no other asset that does that with as little inflation and risk as Bitcoin. LOL. Having 30% drops is not 'little risk': * https://www.cnbc.com/2021/05/19/bitcoin-btc-price-plunges-bu... Or 50%: * https://www.nbcnews.com/business/markets/bitcoin-whats-going... I want a 'store of value' to be fairly predictable, and even with inflation (generally 0-4%) fiat currencies have that (I can plan around that by…
...which is why its not gonna plunge anymore. too many people have "seen" the pattern now, and the instant it dips even 5% people are gonna be buying "the dip" in droves, thinking this is gonna be their entry, this is their moment in the sun. "I've seen it do this before, I know how it ends, I gotta get in now!!!"
Reading through the comments here, it seems that most people on HN vastly underestimate the significance of the "store of value" use case. It is a core aspect of human life. And there is no other asset that does that with as little inflation and risk as Bitcoin. That seems counterintuitive because Bitcoin is portrayed as a very risky asset. Which it is in the short term. But long term, fiat, gold, equity, and real es…
Nobody should hold large amounts of fiat long term. That's what shares and bonds are for, which incidentally also support productive enterprises (unlike crypto).
Long term, equity, debt, gold have pretty good inflation and risk profiles. Real rates have overwhelmingly been positive, so government bonds are a fairly good store of value.
Earlier quoted context omitted.
> And there is no other asset that does that with as little inflation and risk as Bitcoin. LOL. Having 30% drops is not 'little risk': * https://www.cnbc.com/2021/05/19/bitcoin-btc-price-plunges-bu... Or 50%: * https://www.nbcnews.com/business/markets/bitcoin-whats-going... I want a 'store of value' to be fairly predictable, and even with inflation (generally 0-4%) fiat currencies have that (I can plan around that by…
true but then it always goes back up 100%... ...which is why its not gonna plunge anymore. too many people have "seen" the pattern now, and the instant it dips even 5% people are gonna be buying "the dip" in droves, thinking this is gonna be their entry, this is their moment in the sun. "I've seen it do this before, I know how it ends, I gotta get in now!!!"
I sold 100 BTC back in 2015, which cleared all my debts and landed my first apartment. But obviously in hindsight, it was the most expensive mistake I've made in my life. I started following cryptocurrencies back in 2012. Still, for my life, I can't see the real value. Back then, when things were starting out, the idea was to bank the unbanked, make money transfer seamless, cheap, and fast, and basically break up act…
About crypto early narrative.. there's some lesson here, nothing means nothing, things get twisted, blended, rebranded .. they wanted to replace the world, they're not part of it, as yet another asset. Sad, cynical but nothing surprising IMO.
That said there might be an offspring of all the distributed blockchain VMS that will emerge a new layer replacing the economic and information exchange in the future (I still believe this a bit).
I wish people would gamble with something other than a proof-of-work coin. There are very similar alternatives now. When bitcoin rises, more money is spent on mining. Whoever holds bitcoin is in part responsible for this waste of energy.