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Is Bitcoin Down or Just Me?

isbitcoindownorjustme.com

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Re: Is Bitcoin Down or Just Me?

#41

Post by zitterbewegung »

throw0101a wrote: post #32
boxmonster wrote: post #4

Actually Bitcoin is down 13.52% in the last 7 days https://coinmarketcap.com/

> Actually Bitcoin is down 13.52% in the last 7 days If a stock market index (e.g., S&P 500, FTSE 100, etc) was doing the same there would be many more headlines and people freaking out. Some people claim that Bitcoin is "money", or at least a store of value, but I'm not sure I'd want to have any net worth stored in something that is as volatile at Bitcoin has been over the past year: * https://coinmarketcap.com/curr…

Last year 2021 the S&P 500 had a large amount of volatility and Bloomberg does report on this.

https://www.bloomberg.com/news/articles/2021-12-03/how-to-ha...

Re: Is Bitcoin Down or Just Me?

#42

Post by rvz »

Not Bitcoin itself but the price did - and this aged perfectly well: [0][1]. Did people really think that last year, Bitcoin was going to $100K?

Actually, we are going back down to earth again. After all, this is even before regulations are coming for cryptocurrencies. So who knows which ones will survive this.

As for those who jumped into Bitcoin at >$60K, you are going to be waiting for a long time. I hope they didn't FOMO all in with their life savings, loans and everything they had at $68k last year then.

[0] https://news.ycombinator.com/item?id=27206314

[1] https://news.ycombinator.com/item?id=26937131

Re: Is Bitcoin Down or Just Me?

#43

Post by camjohnson26 »

For all the hate Bitcoin gets because it’s obviously in a bubble market, can we at least agree that it is an astounding engineering achievement that an anonymous individual and a small group of researchers were able to build a network capable of transacting billions of dollars of value with only 2 service incidents in 14 years? All without any meaningful service costs and no hacking of the network, despite huge incentives.

Re: Is Bitcoin Down or Just Me?

#44

Post by flatiron »

88913527 wrote: post #28

I am curious how the 99.98% SLA compares to other payment networks (eg: Visa, etc). A bit apples to oranges, since the transaction volume is different.

You can buy goods and materials with visa though. Not sure people want to wait 30 minutes to buy a cup of coffee with bitcoin.

Re: Is Bitcoin Down or Just Me?

#45

Post by OnlineGladiator »

dan-robertson wrote: post #38
OnlineGladiator wrote: post #35

Earlier quoted context omitted.

The S&P 500 market cap is over $40 trillion. The bitcoin market cap is under $2 trillion. I just looked up this data super quick with Google so corrections are welcome. And yep, I'm editing my comment because apparently that data is for all of crypto - bitcoin is $815 billion according to ycharts. https://ycharts.com/indicators/bitcoin_market_cap That's still an absurd amount of money, but there is more than an order…

I don’t understand what you’re trying to say. That is, why do market caps matter here?

I don't necessarily agree with it, but market cap is essentially the standard metric for how we measure value in our economy. If Apple goes down 10% people care because they're worth trillions and lots of people lose money. If a mid-size company goes down 10% a lot fewer people care.

Re: Is Bitcoin Down or Just Me?

#46

Post by [deleted] »

dan-robertson wrote: post #38
OnlineGladiator wrote: post #35

Earlier quoted context omitted.

The S&P 500 market cap is over $40 trillion. The bitcoin market cap is under $2 trillion. I just looked up this data super quick with Google so corrections are welcome. And yep, I'm editing my comment because apparently that data is for all of crypto - bitcoin is $815 billion according to ycharts. https://ycharts.com/indicators/bitcoin_market_cap That's still an absurd amount of money, but there is more than an order…

I don’t understand what you’re trying to say. That is, why do market caps matter here?

[deleted]

Re: Is Bitcoin Down or Just Me?

#47

Post by throwhauser »

steelstraw wrote: post #23
boxmonster wrote: post #4

Actually Bitcoin is down 13.52% in the last 7 days https://coinmarketcap.com/

And up x,xxx% the past 5 years. People have short memories. Heck, in 2020 it was only around $9k.

I went up x,xxx% from basically nothing though. Going up the same percentage in the next five years from the current price is another story. I wonder if this might be contributing to the popularity of NFTs as a new, alternative thing for people to risk their money on.

Re: Is Bitcoin Down or Just Me?

#48

Post by sp332 »

throw0101a wrote: post #32
boxmonster wrote: post #4

Actually Bitcoin is down 13.52% in the last 7 days https://coinmarketcap.com/

> Actually Bitcoin is down 13.52% in the last 7 days If a stock market index (e.g., S&P 500, FTSE 100, etc) was doing the same there would be many more headlines and people freaking out. Some people claim that Bitcoin is "money", or at least a store of value, but I'm not sure I'd want to have any net worth stored in something that is as volatile at Bitcoin has been over the past year: * https://coinmarketcap.com/curr…

It is a lot of volatility, but it's also weird to compare an index to a single security.

Re: Is Bitcoin Down or Just Me?

#50

Post by vmception »

flatiron wrote: post #44
88913527 wrote: post #28

I am curious how the 99.98% SLA compares to other payment networks (eg: Visa, etc). A bit apples to oranges, since the transaction volume is different.

You can buy goods and materials with visa though. Not sure people want to wait 30 minutes to buy a cup of coffee with bitcoin.

2016 called and wants its arguments back
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