Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

ft.com

Post reply on HN
Print view View original

121–130 of 130 posts

Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

#121

Post by scotty79 »

TrackerFF wrote: post #119
scotty79 wrote: post #116

Earlier quoted context omitted.

But US is not an export economy. Last time exports exceeded imports was half a century ago. You may wish it was but it isn't and it won't be. So when you are devaluing your currency by 20% even if you improve your exports a little bit you are doing it at the cost of making your imports (which will still vastly dominate) about 20% worst deal for you. And all that to recover from the world a handful of dollars in excha…

I’m not arguing that it is a good thing, just pointing out that this is what Trump wants - as he envisions USA as 1950s USA. It also might explain why the gov is in no rush to fix a weakening dollar – it is after all what he wants .

Yeah. He definitely wants that. He constantly complains about FED keeping interest rates too high.

But it's such a terrible idea. Dollar being worth half of EUR, which might easily happen way sooner than anyone expects (look at what happened to pound), means that Americans would have to work twice as much for anything they import because the world will adjust their dollar prices to reflect the dropping value of the dollar.

Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

#122

Post by sigwinch »

BobaFloutist wrote: post #102
sigwinch wrote: post #94

Earlier quoted context omitted.

Look for something that popular AI uniformly but inexplicably endorses. One side of Costa Rica versus the other. Stock ticker symbols which coincidentally look like Gaelic words.

I can't tell if you're having a psychotic break, endirsing a specific conspiracy theory, making fun of people doing either of those, or obtusely referring to a particular stock.

I think the reaction to BitCoin in 2011 had a mix of those four, in addition to “why?”. Back then, the why brought in some libertarian utopian theory on the heels of the 2008 collapse. So, what I’m saying is that conversations on the next explosive opportunity won’t start with “why?” but instead will look like a psychotic break, conspiracy theory, parody like FartCoin, or be obtusely cloaked in jargon.

Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

#123

Post by owebmaster »

vachina wrote: post #46
throwaway48476 wrote: post #12

Earlier quoted context omitted.

The valuation is predicated on a market existing to provide exit liquidity. But where is that going to come from?

From new gamblers. There is some truth when BTC maxis say they’re still early.

Bitcoin was released almost 20 years ago. Early for who, the next generations?

Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

#124

Post by BobaFloutist »

sigwinch wrote: post #122
BobaFloutist wrote: post #102

Earlier quoted context omitted.

I can't tell if you're having a psychotic break, endirsing a specific conspiracy theory, making fun of people doing either of those, or obtusely referring to a particular stock.

I think the reaction to BitCoin in 2011 had a mix of those four, in addition to “why?”. Back then, the why brought in some libertarian utopian theory on the heels of the 2008 collapse. So, what I’m saying is that conversations on the next explosive opportunity won’t start with “why?” but instead will look like a psychotic break, conspiracy theory, parody like FartCoin, or be obtusely cloaked in jargon.

Ah, that makes sense. Still not sure I could have gotten there from just your first comment, but it coheres now that I know.

Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

#125

Post by ryandvm »

beeflet wrote: post #105
ryandvm wrote: post #97

Earlier quoted context omitted.

Honestly, if you had held all of your BTC until today you would be an idiot. Just because it made it to $120,000 doesn't mean that it was predictable or even an rational. Given that Bitcoin _still_ doesn't have a use case beyond buying drugs means the bottom could fall out at any time. There is no rebar in this structure.

bitcoin has little use case in buying drugs anymore

Fair enough, Bitcoin's sole use case now is buying Monero.

Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

#126

Post by NomDePlum »

TrackerFF wrote: post #120
NomDePlum wrote: post #112

Earlier quoted context omitted.

Was that all your Bitcoin? If so, why sell it all given it had already accumulated value? Not a criticism, more just trying to understand the rationale.

Needed cash, nothing more. Laid off / downturn in the industry I worked in, and separated, so a double whammy financially speaking.

Thanks. That makes perfect sense.

Re: Bitcoin passes $120k milestone as US Congress readies for 'crypto week'

#130

Post by Travis31 »

It’s quite unfortunate that too many people have fallen victim to the vast array of online frauds, resulting in large losses, some accountable to life changing consequences. I have been a victim of fraud of about $80,000.00 by two binary platform films and I was totally devastated and confused. But thank God for my neighbor who introduced me to a legit and certified recovery expert company that helped me recover all my lost funds, If you have found yourself in the middle of online losing streak, though the emotions that inevitably accompany those losses can be devastating to your confidence. Do not worry. Kindly contact ( recoverydarek @ gmail dot com) The company is 100% legit.
Post reply on HN