41–50 of 60 posts
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Remember what HN kept parroting in 2017? "bItCoIn is sCaM". So much of a scam that buying that coveted Tesla Model S in 2017 would sure have held its value much better than Bitcoin did and by now in 2025, Bitcoin should be worthless. Right? Not even close. If Bitcoin was a scam, was it supposed to "crash" from $10k to $100k+ and that Tesla Model S "skyrocketed" from $100k+ to around $40k from its retail price. Sounds…
Bitcoin is still a criminal ecosystem in 2025. Its only real use case still is enabling illegal transactions and evading financial regulations, and that maintains its speculative value; but that's still a scam not a true investment just like a business used as a front for Mafia appears stable until it inevitably comes crashing down. But I don't think anyone claimed criminality is not profitable. It can literally make…
Welcome to reality, where good/neutral things sometimes are used for bad :) Name one financial system that doesn't have any elements of criminality involved in them.
> Its only real use case still is enabling illegal transactions and evading financial regulations, and that maintains its speculative value
So if I and others happen to have done at least one transaction with Bitcoin that wasn't illegal or evaded financial regulations, would presenting proof of that leading to you changing your view that there is no real use cases?
> that's still a scam not a true investment
Personally I draw the limit of what a "scam" is when it's intentionally misleading with the purpose of defrauding you. Bitcoin doesn't look like it's either of those things, but I will agree that the ecosystem has a lot of scammers within it, just like any financial system.
Yeah, Bitcoin was in a big bubble in 2017. If you were dumb enough to buy BTC then, today your portfolio would be a devastating +400%.
Remember what HN kept parroting in 2017? "bItCoIn is sCaM". So much of a scam that buying that coveted Tesla Model S in 2017 would sure have held its value much better than Bitcoin did and by now in 2025, Bitcoin should be worthless. Right? Not even close. If Bitcoin was a scam, was it supposed to "crash" from $10k to $100k+ and that Tesla Model S "skyrocketed" from $100k+ to around $40k from its retail price. Sounds…
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For how long does a "bubble" need to be in "the bubble" for it to not be considered a "bubble" anymore? I'm guessing there is a time limit involved here somewhere?
Economic downturn that motivates holders to liquidate. The house of cards would collapse very quickly if one whale cashed out. Everyone holding is facing a bad version of the prisoner's dilemma.
Bitcoin has lost 75% of its value 4+ times, but for some strange reason everytime it "comes back stronger".
My thesis is that, in all these years, the BTC price has been composed of 2 parts: Speculators and "believers". Speculators will buy and sell very fast as soon as the market moved or due to external phenomena. "Believers" will keep holding through everything.
Thing is, with each cycle there is more money on Believers than Speculators. This time, ETFs and institutions have placed a lot more money, so it seems there are more and more Believers. That's why you see retail Speculators saying that this cycle is "boring".
It's interesting to see how the price will keep stabilizing, as the ratio of Believers vs Speculators money gets larger (Speculators become a smaller and smaller % of the price).
I think this was the last cycle (halving cycle) with that much volatility.
Even if you are not into bitcoin, it's interesting to study its phenomena.
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I was here, and they still keep saying the same thing. There was a recent submission about Bitcoin. People were still saying how it is a scam and whatnot. Scam or not, many people have gotten rich off of it. I bet the people who kept saying it is a scam wish'd they bought when it was low, they would have been rich today, instead, they double down (because they completely missed their chance due to their opinion), whi…
Many more people have also lost money on it[1]. A Casino is also a great "investment" if you only count the winners. [1] https://gizmodo.com/bitcoin-crypto-bank-of-international-set...
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Remember what HN kept parroting in 2017? "bItCoIn is sCaM". So much of a scam that buying that coveted Tesla Model S in 2017 would sure have held its value much better than Bitcoin did and by now in 2025, Bitcoin should be worthless. Right? Not even close. If Bitcoin was a scam, was it supposed to "crash" from $10k to $100k+ and that Tesla Model S "skyrocketed" from $100k+ to around $40k from its retail price. Sounds…
Bitcoin is still a criminal ecosystem in 2025. Its only real use case still is enabling illegal transactions and evading financial regulations, and that maintains its speculative value; but that's still a scam not a true investment just like a business used as a front for Mafia appears stable until it inevitably comes crashing down. But I don't think anyone claimed criminality is not profitable. It can literally make…
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Yeah I remember the white paper being posted in 2009, took another 2 years before I got into bitcoin. The reason I know bitcoin has hit the mainstream and isn't going anywhere is in sort due to HN. This bubble has spurred zero posts as far as I can tell, or zero that gained any traction. In part this is because there is nothing new to discuss. But in the past there was nothing new either, but it gained traction becau…
> Welcome to the new asset class. Wasn't it supposed to be a currency people would buy stuff with that would eventually replace "fiat"? What happened to that?
BTC is still in a bubble and there is not much news about it :)
For how long does a "bubble" need to be in "the bubble" for it to not be considered a "bubble" anymore? I'm guessing there is a time limit involved here somewhere?
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Economic downturn that motivates holders to liquidate. The house of cards would collapse very quickly if one whale cashed out. Everyone holding is facing a bad version of the prisoner's dilemma.
It already happened several times for BTC. Look for ATH drawdown chart. Bitcoin has lost 75% of its value 4+ times, but for some strange reason everytime it "comes back stronger". My thesis is that, in all these years, the BTC price has been composed of 2 parts: Speculators and "believers". Speculators will buy and sell very fast as soon as the market moved or due to external phenomena. "Believers" will keep holding…
Earlier quoted context omitted.
Economic downturn that motivates holders to liquidate. The house of cards would collapse very quickly if one whale cashed out. Everyone holding is facing a bad version of the prisoner's dilemma.
It already happened several times for BTC. Look for ATH drawdown chart. Bitcoin has lost 75% of its value 4+ times, but for some strange reason everytime it "comes back stronger". My thesis is that, in all these years, the BTC price has been composed of 2 parts: Speculators and "believers". Speculators will buy and sell very fast as soon as the market moved or due to external phenomena. "Believers" will keep holding…
Always good to find back well known results by first principles!