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Yeah just like USD.
Not exactly the same. Fiat currency like the USD redistribute a lot of wealth from users into the pockets of the central bank/government through unlimited base inflation, which they control. Bitcoin does not have that, its inflation rate is fixed by the protocol and only ever falling. In April this year it will fall to 0.875%.
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Cool. Going on GitHub and downloading core code and deploying a new coin based on Bitcoin or some other crypto. I'll call it HackerNewsCoin. Didn't know it was that simple to create "wealth". What a foolishness to think that something that has no intrinsic value can constitute wealth. Don't confuse price with value. It really is true crypto combines all that people don't understand about economy with all that people…
Plenty of people have done that and captured some value. Bitcoin has the most secure network of its type and that has inherent value, it's also perceived to have value by millions of people around the world as opposed to your random fork. Not sure if you see that it's your understanding of the world that's off here.
Currencies are not wealth, none of them, cryptocurrencies even less.
Money is worthless, rich people don't have money. They have art, companies, land, bonds, cars, boats, airplanes, but very little money.
The financial illiteracy of crypto cultists really has no end.
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> anyone investing in crypto FTFY: anyone investing
It's sad people are so financially illiterate. Buying partial ownership (shares) in a real company that makes a product or service profitably, or loaning money to a person or business that will be paid back with interest, are both ways to invest capital which can increase in value with no "greater fool". Apple stock isn't worth more today than in 1990 because people arbitrarily agreed upon a bigger number, it's worth…
The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…
It's hard for humans to put ego aside and admit they were wrong. Also hard to put emotion aside and forget the pain of missing out from $100 to $45k. I think there's still an easy 10X to match Gold and 100X is possible if it becomes the world's preferred reserve asset
The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…
People will always have a want for more ways/things to bet/gamble on - it just seems to be something in our nature.
In gambling, the longer you continue, the more certain it is that you will lose. Bitcoin is a uniquely ironic form of gambling if it's gambling at all.
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Cool. Going on GitHub and downloading core code and deploying a new coin based on Bitcoin or some other crypto. I'll call it HackerNewsCoin. Didn't know it was that simple to create "wealth". What a foolishness to think that something that has no intrinsic value can constitute wealth. Don't confuse price with value. It really is true crypto combines all that people don't understand about economy with all that people…
> What a foolishness to think that something that has no intrinsic value can constitute wealth. Honestly, I am also amazed that humans make something like that happen. But we do. Otherwise gold wouldn't have so much value.
Also, can't be forked, cloned or replaced by some gold 2.0 with smart contracts or bigger block size.
Seriously, imagine comparing a currency, let alone a cryptocurrency to gold.
Foolishness never ends.
This should also solve the scalability issues quite a bit by reducing the need to record as many transactions in the first place once the exchanges hold most of the coins.
Finally this should reduce the long-term potential in mining as the block reward keeps reducing exponentially with lower expectations of transaction fees.
Sometimes regulatory solutions do fix hard technical problems.
Looks like these are the 11 tickers? Bitwise (BITB) ARK Invest/21Shares (ARKB) Invesco Galaxy Bitcoin ETF (BTCO) iShares Bitcoin Trust (IBIT) VanEck Bitcoin Trust (HODL) Franklin Bitcoin ETF (EZBC) Fidelity Wise Origin Bitcoin Trust (FBTC) WisdomTree Bitcoin Trust (BTCW) Valkyrie Bitcoin Fund (BRRR) Hashdex Bitcoin Futures ETF (DEFI) Grayscale Bitcoin Trust (GBTC)
Weird how the price went to 48k on fake news, with the potential to go even higher until revealed to be fake, but only 47k on the real news?
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> What a foolishness to think that something that has no intrinsic value can constitute wealth. Honestly, I am also amazed that humans make something like that happen. But we do. Otherwise gold wouldn't have so much value.
Gold is crucial in electronics, jewellery, biochemistry. Also, can't be forked, cloned or replaced by some gold 2.0 with smart contracts or bigger block size. Seriously, imagine comparing a currency, let alone a cryptocurrency to gold. Foolishness never ends.
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What needs and wants is it fulfilling for you?
Bitcoin is wealth in the cloud. There's immense utility in being able to digitalize your wealth, including higher mobility and, since it is a decentralized network, assurance that it won't be inflated, confiscated and that you will have the freedom to transact it with whoever you want.
Fortunately for most bitcoiners who got in early, it's been variable in a positive direction... But not for everyone.