Bitcoin has made a new all-time high price • Hacker News Board

Re: Bitcoin has made a new all-time high price

#31

Post by kranke155 » Wed, Nov 06, 2024, 2:43 PM UTC

firekvz wrote: post #26

eterpstra wrote: post #17

Earlier quoted context omitted.

I don't know. What's going to happen with Tether?

noone knows, but the real question is why any govt hasnt done any significative investigation or attack on tether? the only explanation i see (from the US pov) is that they actually collaborating in deeper investigations so they let it coexist, otherwise it makes no sense how legitimated it is knowing that it's pure fake money and it's not backed up at all bitcoin wont be real till tether dissapears

We know that Tether is sharing information with law enforcement in the US. Maybe intelligence also.

Re: Bitcoin has made a new all-time high price

#32

Post by the__alchemist » Wed, Nov 06, 2024, 2:44 PM UTC

exitb wrote: post #11

So I suppose people must use it all the time to buy goods and services. Right?

Could you please elaborate on this supposition? I assume from the context that you suspect the price does not reflect an intrinsic value of the coin. I infer that from reading your sentence as sarcasm; your implication is, it's not used to buy goods and services, therefor this is a bubble. (?)

Re: Bitcoin has made a new all-time high price

#33

Post by yzdbgd » Wed, Nov 06, 2024, 2:44 PM UTC

exitb wrote: post #11

So I suppose people must use it all the time to buy goods and services. Right?

Stablecoins are much better for payments, no one would use BTC for goods and services with the transaction fee and the confirmation time being so bad.

https://www.coinbase.com/institutional/research-insights/res...

TL;DR from the article : Stablecoins settled $10.8T worth of transactions in 2023 of which $2.3T were related to organic activities including payments and cross-border remittances, among others

Today’s payment giants suffer from major disadvantages including high transaction costs, slower settlement times and limited transparency albeit there are tradeoffs to stablecoins too

Re: Bitcoin has made a new all-time high price

#34

Post by Ekaros » Wed, Nov 06, 2024, 2:45 PM UTC

colesantiago wrote: post #8

Soon this will all collapse, reaching all time highs isn't a good thing. Pyramid scheme at best, ponzi scheme at worst. I still don't know any use case for this other than speculation and people aren't even using it in the real world.

It is neither pyramid nor Ponzi. Bubble or mania probably.

In pyramid money comes from recruits directly under, in ponzi central party pays out from new and old investors.

Bitcoin is not either anymore than say Tesla or Nvidia...

Re: Bitcoin has made a new all-time high price

#35

Post by [deleted] » Wed, Nov 06, 2024, 2:45 PM UTC

eterpstra wrote: post #14

colesantiago wrote: post #8

Soon this will all collapse, reaching all time highs isn't a good thing. Pyramid scheme at best, ponzi scheme at worst. I still don't know any use case for this other than speculation and people aren't even using it in the real world.

Don't buy bitcoin because it will crash... https://www.youtube.com/shorts/vII3xWrXzwY

[deleted]

Re: Bitcoin has made a new all-time high price

#36

Post by Hammad_khaan » Wed, Nov 06, 2024, 2:46 PM UTC

A person mentioned that Bitcoin is heavily used for money laundering and similar activities. How authentic is this, and does it affect rates, like what's happening right now?

Re: Bitcoin has made a new all-time high price

#37

Post by ynniv » Wed, Nov 06, 2024, 2:46 PM UTC

chungus wrote: post #3

Anybody have a reliable, up-to-date pc build guide, for a full node? I find very fragmented information everywhere. I get that "most pc's can run Bitcoin core" but I'd like some more detailed information.

https://raspibolt.org

Re: Bitcoin has made a new all-time high price

#38

Post by devoutsalsa » Wed, Nov 06, 2024, 2:46 PM UTC

rel_ic wrote: post #24

What's the best way to sell ~50 BTC these days?

High.

Re: Bitcoin has made a new all-time high price

#39

Post by eterpstra » Wed, Nov 06, 2024, 2:47 PM UTC

firekvz wrote: post #26

eterpstra wrote: post #17

Earlier quoted context omitted.

I don't know. What's going to happen with Tether?

noone knows, but the real question is why any govt hasnt done any significative investigation or attack on tether? the only explanation i see (from the US pov) is that they actually collaborating in deeper investigations so they let it coexist, otherwise it makes no sense how legitimated it is knowing that it's pure fake money and it's not backed up at all bitcoin wont be real till tether dissapears

What about this one? https://www.cftc.gov/PressRoom/PressReleases/8450-21

Re: Bitcoin has made a new all-time high price

#40

Post by mdgrech23 » Wed, Nov 06, 2024, 2:47 PM UTC

exitb wrote: post #11

So I suppose people must use it all the time to buy goods and services. Right?

this isn't why people buy Bitcoin. they buy it b/c they don't have confidence in the power of the US dollar or want to hedge their bets. It's the equivalent of gold, that is people turn to it when they think shit may hit the fan but it doesn't have the downsides of physically holding gold.