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

Bitcoin Has Longest Losing Streak Since August in Bruising Week

bloomberg.com

Post reply on HN
Print view View original

101–105 of 105 posts

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#101

Post by beAbU »

avmich wrote: post #24
darth_avocado wrote: post #13

Earlier quoted context omitted.

Value can only teleport if someone is willing to trade traditional currency in exchange on the other side. My no international fee bank account also teleports value across the globe instantly and more merchants are willing to accept it than Bitcoin.

Telll it to my friend who was escaping a country under sanctions and had to move his money elsewhere. His bank didn't have that miraculous power, but Bitcoin did.

This argument is always held up as an argument for bitcoin. I swear it's sometimes the only one that bitcoin proponents can think of!

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#102

Post by ascendantlogic »

the_gastropod wrote: post #89
ascendantlogic wrote: post #75

Earlier quoted context omitted.

I'm not a TA nerd, but there is a very clear pattern that has been established. Crypto moves in cycles. You don't need to draw a ton of triangles and lines all over a chart to see the cycle this has gone through over and over.

If it were a reliable predictor, it’d be trivial to become a billionaire by levering up, and riding the next “cycle” up, no? You doing it? I suspect not, because you know it’s not actually a reliable predictor of anything.

You can suspect all you want, I'm not here to argue with anyone's strong feelings about crypto either way. Just that there's an established pattern to how this particular market moves.

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#103

Post by _DeadFred_ »

ryandvm wrote: post #78
jfengel wrote: post #62

Earlier quoted context omitted.

They were widely considered on topic when the price was going monotonically upwards. Aside from the technical aspects of blockchain, there is a second reason to talk about the direction of the price. There's reason to think that it's falling because of other technology offerings (mostly AI, and increasingly space). So it's a meaningful indicator of the sense of investors in technologies.

I like how 15 years on, we're not even pretending that blockchain has practical uses besides buying drugs and gambling. There's a certain refreshing clarity in this current kleptocratic moment - everyone is just openly engaged in fraud. Okay, I guess that's better than pretending they weren't.

Not true. The Iranian regime uses it to bypass sanctions as well.

Re: Bitcoin Has Longest Losing Streak Since August in Bruising Week

#105

Post by andirk »

j2kun wrote: post #19

Bitcoin price stories should no longer be considered on topic for HN.

HN is very, very bitter about being there at the beginning of an interesting, fun, and promising technology that could have easily enriched them. Bitcoin and crypto is very on topic, but pricing not so much.
Post reply on HN