Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?
I imagine that's the majority of people who've heard of it.
Bitcoin surpasses $50K as major companies jump into crypto
141–150 of 830 posts
Re: Bitcoin surpasses $50K as major companies jump into crypto
#142How much of this Bitcoin wealth is centralized to the top %?
Satoshi owns $54 billion worth of Bitcoin at this point.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#143Earlier quoted context omitted.
For 12 years, just bubbles? First it was over 1 cent, then over $1, over $1000, now over $50k.... when will you consider the possibility you may have been wrong? At $100k? At $1M? (which most models indicate as a plausible target price in 10 years) Let me give you my favorite quote, pulled from another HNer comment: "I enjoy reading comments about Bitcoin here because even without any venture backing, it achieved a b…
> when will you consider the possibility you may have been wrong? At $100k? At $1M? Personally I think Bitcoin has at least two bubbles left before it pops permanently. So $1M price could be achievable. The real question is what happens when it does reach a ceiling. At some point there's not going to much more potential interest for Bitcoin, and what then? Are people gonna start moving their pension funds to Bitcoin?…
> Because there's no real value behind Bitcoin
You post was very interesting (what happens to Bitcoin when it becomes so big it's capable of tilting G7 type economies) up to the argument above, which is:
a) wrong because Bitcoin does have some actual utility
b) wrong because "value" is only something that carries any kind of meaning in a supply and demand framework
c) parroting an argument that has been trumpeted on HN almost as much as "oooh, bad for the environment" and has also been thoroughly debunked.Re: Bitcoin surpasses $50K as major companies jump into crypto
#144I have some satoshis and some ripple on an exchange, but the exchange seems to be gone?? I suppose I can write those off?
Re: Bitcoin surpasses $50K as major companies jump into crypto
#145Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?
What helps me sleep at night is that even had I entered all this time ago with BTC I would have exited 100 times by now. There have indeed been many 2x,3x,5x multipliers with BTC but there have been so many instances when it was unclear how everything is going to turn out which would personally prompt me to consider exiting with what I had. As my friend nicely put it: only way we could have gotten rich from BTC is ha…
Same thing here, I made a good profit a while back. To believe that I would be a millionaire today requires ignoring everything I know about my risk tolerance and while Bitcoin worked, it could've gone the Ponzi scheme way and crash to 0$ overnight. There were risks of Chinese miners going for a 51% attack, regulation in the US to downright outlawing mining in Canada.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#146Earlier quoted context omitted.
For 12 years, just bubbles? First it was over 1 cent, then over $1, over $1000, now over $50k.... when will you consider the possibility you may have been wrong? At $100k? At $1M? (which most models indicate as a plausible target price in 10 years) Let me give you my favorite quote, pulled from another HNer comment: "I enjoy reading comments about Bitcoin here because even without any venture backing, it achieved a b…
Which models? The only thing I can find to support your claim is random people tweeting that they think it will be worth 1M. I guess when enough people say something it becomes a "fact"
>Which models
Stock-to-flow is based on assumptions, but they're not unreasonable.
The predictive power hasn't been half-bad either.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#147Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?
Haha, yes. In 2011, a guy on my team was all about bitcoin and dogecoin and such. I think bitcoin was like 11 cents a coin, or maybe a dollar by that point. I just plain didn't get it. Still barely do. I could have easily picked up a few hundred dollars of coin or, if I was a believer, a grand or two. Had I held onto it, I would be worth hundreds of millions of dollars. However, if I got in at 10 cents, I would have sold at a dollar. And if I didn't sell there, I would have sold at 10 dollars, 100, 1000, etc. I would never, ever have ridden it to 10k, 20k, 30k. Still not putting money on it.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#148What about the 51% attack problem? Why doesn’t this matter? Can someone explain how this currency is a good bet when there is this seemly huge gaping hole in the system. Honest question!
Re: Bitcoin surpasses $50K as major companies jump into crypto
#149Re: Bitcoin surpasses $50K as major companies jump into crypto
#150Does anyone else feel like: - they've missed an opportunity to get rich with minimal effort from crypto - still have absolutely no interest in jumping in at this point?
Haha, yes. In 2011, a guy on my team was all about bitcoin and dogecoin and such. I think bitcoin was like 11 cents a coin, or maybe a dollar by that point. I just plain didn't get it. Still barely do. I could have easily picked up a few hundred dollars of coin or, if I was a believer, a grand or two. Had I held onto it, I would be worth hundreds of millions of dollars. However, if I got in at 10 cents, I would have…
doge coin did not exist in 2011.