391–400 of 463 posts
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What about $35 and $250?
Innovators. No one really heard of Bitcoin prior to the $1000 pump.
Most people still don't care about crypto
And still, even on HN, the discussion of cryptocurrency is oscillating between totally different axioms? Some of us speak as prophetic market analysts and bring up "nails in coffins" and other crystal ball bull shit, and some of us wonder about the technology itself and understand that the price against the dollar only matters to gamblers.
Has anyone come up with a use case for blockchains yet, that isn't buying illegal drugs or money laundering? I keep seeing pie in the sky hypotheticals like "supply chain trust" from people who think farmers are etching their cucumbers with serial numbers, but I've yet to see any use case presented for a blockchain that has real utility and isn't better solved by existing processes or systems.
* Porn
* Donations to wikileaks
* Pot
* Sending money to Venezuela
* Leaving Venezuela with your wealth intact
* Payments without giving all transaction info third parties (PayPal, VISA, etc). Look into Monero for untraceable transactions.
* Digital payments for the unbanked
These are all served better by cryptocurrencies than other alternatives.
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I know the feeling, but at one point you gotta stop repeating the same thing forever. Bitcoin is not a new thing that will repeat 1000% growth.
You are aware Apple was worth $1tn as a company? $150bn more or less in the grand scheme of things isn't a lot of money, which is about the size of the crypto market. I just don't see banks and institutions (i.e. Nasdaq and Vanguard) building out crypto capabilities to then not use them. They'll market the hell out of them at some point, and the cycle will repeat.
That said I forgot banks were working on crypto currencies. Still I'm tired of bitcoiners ~analysis. Enjoy your ride
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I bet you also can’t stand people who oppose mass surveillance. Those ignorant people! Don’t they understand the government is just trying to prevent crime?
Money is by far a more delicate topic.
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> KYC hurts individuals who value their privacy If you care about privacy, use cash. Only your income will be reported.
How do I purchase an mp3 or an ebook from someone in another region with cash? This is definitely something I would like to do.
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Speculating here but if you look at the price graph this year it looks like someone was trying to prop it up and keep it above $6000. Maybe tether/bitfinex or the Chinese miners, dunno. But anyway this would require $17m or more coming in to the market each week to cover the mining rewards. Maybe that dried up and the buyers ran out of money, then once it broke people tried to sell out before it got worse?
Perhaps a dumb question but how do you know it was one person/organization as opposed to general market forces?
Huge influxes of Tether: https://www.nytimes.com/2018/06/13/technology/bitcoin-price-...
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>You're right, a "store of value" product being down almost 80% in the past 11 months is completely normal and not at all newsworthy. It's not "down 80%" for anyone but dumb money who jumped in at the peak last November. BTC is up over 10,000% since 5 years ago.
Feel free to explain me at what price point the brilliant technocrat early adopters became dumb money.
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So I know next to nothing about these regulations but what do you mean by "cost/benefit" exactly? Surely if these rules are meant to fight (directly or indirectly) organized crime then you can't just judge them on the amount of money saved? If you spend $10 millions to prevent $1 million to reach a terrorist organization, can't you consider it money well spent?
He meant cost bebefit to organizations to implement it. Take HSBC for example, one of largest China/HK bank. They waited until Fatca kicks in, then realized it will be too complicated and expensive to implement, so what do they do? Within 45 days they kick out all us-citizen based accounts off their grid. All gone. Thats how foreign banks “comply” with Fatca. Arguably some politicians say it was actually mean to work…
Since the article states "the trigger for the latest sell-off is unclear" I'm really curious if somebody here could venture a guess about the reasons for the sudden drop. The Bitcoin Cash fork seems suspiciously correlated but is it big enough news to cause such a turmoil? Being a cryptocurrency-skeptic I won't pretend that I don't experience a little bit of schadenfreude when I see CC crash, however if I'm trying to…
ETH isn't doing well either, so there must be more than the BTC cash fork in play.