201–210 of 280 posts
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No, because your holding increases the price until someone else decides it's time to tell. In other words, the lack of liquidity increases price. Regarding your original question, that increase is GOOD for the company because it can raise more money for selling the same amount of stock.
You cannot argue that buying raises the price and selling drops it, since every trade has a buyer and s seller.
Working together is in the best interest of humans. Humans require trust to operate. A system designed around mistrust is inherently against our nature.
I would say our whole legal system is based on mistrust.
The real issue with Bitcoin is tether. Tether printing is practically responsible for almost all the gains in Bitcoin. Just look at Tether volume versus Bitcoin volume and tell me you trust bitcoins valuation when it's backed by make belief tethers. When you can print make belief dollars, in volumes that were never proven to exist, and pretend trading them for Bitcoin is the same as trading dollars, then of course Bi…
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Have you traveled? Enough places where the dollar is not the national currency but still accepted and used for purchasing drug and weapons.
I'm not familiar with foreign drug and weapons markets, but even so, That is still a significant minority compared to USD as a whole. BTC as a whole is used for just that and gambling.
And it make sense that it would be so low. Let’s say you just got $1M in Bitcoin and you have to pay your suppliers $500k in cold cash. Not going to happen. Only from other criminals that take profits in cash. But there is obviously a limit to that. I think the point is that those 2% can help a lot in fighting the 25%.
The fear is that illegal commerce could be conducted without fiat conversion. That would require that regular commerce would also be done in the same currency that the criminals use. This is fiat’s game to lose.
And by the way, this is why I love crypto. It has promise as an amazing technology for choosing financial participation according to personal and private community values. Although I’ll admit we’re not there yet, and a lot of the stuff might now be owned by people we wouldn’t want to have power over us. We’re still in the phase of speculation and fear and power struggles. I just hope that fear of the old power structures doesn’t bring good people to ally with values that we would not want in a new system.
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It’s front page because most of HN hates Bitcoin and it makes them feel better
If, indeed, bitcoin is inimical to civilization, then HN is smart and prescient to hate it. That would be a plausible interpretation if you figure that the HN crowd are smarter and more capable of thinking through problems than the average bear. Perhaps if you don't agree, you should be listening :)
Look up any successful Y Combinator company's Show HN thread on here, and the top comment is usually something along the lines of "this will never work"
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The explicit purpose of bitcoin is to avoid government interference. In all other respects, it is inferior to standard government-backed currency, with slow transactions and huge amounts of wasted electricity. We should therefore expect BTC's primary use-case to be activity the government would interfere with, i.e. illegal activity.
True, but "illegal" is dependant on the nation it is relevant to, as an international currency legality is relative. Another way of seeing this: the benefits of global government / infrastructure without the need for global control - few nations are so democratically representative that the tax laws well represent the wills of the people.
Of course, you could say all the same things about e2e encryption, which society seems to have decided - grudgingly, and with much pushback - is ultimately a good thing. But perhaps free speech and financial exchange are different animals, McCutcheon vs. the Federal Election Commission notwithstanding.
In other news, the Bloomberg Agriculture Index (price of food) is hockey-sticking: https://twitter.com/KarelMercx/status/1387108408139161600 At the least, bitcoin is a possible way to protect against this, if you think it's a risk.
How do you deal with deflation?
How do you deal with computers dropping in price for the last 40 years?
Have these industries had issues with deflation?
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> but cryptocurrency/blockchain in general are real, useful technologies. Whats the last time you bought anything (besides other coins) with cryptocurrency?
I’m guessing you’re from a country with a reliable banking system and without rapid inflation. In places where this doesn’t exist, crypto is a miracle. Beyond that, crypto has existed for about a decade now. It’s absolutely absurd to claim that it’s “not useful” because it hasn’t been widely adopted by everyday merchants. Traditional currency has a ten-thousand year head start. Perhaps we can be patient? And that’s n…
Crypto might be safe from the government, buts it is significantly less safe from extortion. Anyone with a will and a ballpeen hammer can steal a crypto wallet with same ease it takes to mug someone out of $20.
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For any thing that has both positive uses and negative uses, it seems reasonable to weigh the positives against the negatives. The dollar has substantial non-infringing uses that benefit people. Bitcoin less so, and particularly when weighed against the great harms (environmental or criminal) that Bitcoin brings, I don’t find the criticism baseless.
I don't disagree about weighing pros and cons, of course. But I think that bitcoin advocates would argue that the bitcoin has the same "non-infringing uses that benefit people" and that it's simply a matter of time/popularity until the proportion of "good" uses vs. "bad" uses is similar to the dollar. Not saying that it's true, necessarily. Just that the current balance isn't the end game and it's not totally fair to…
I think it would be difficult to argue that it's useful primarily for buying your groceries.
I don't think Bitcoin advocates like following this train of thought any further than "USD is also used for crime".