I don't know why, it is probably highly irrational, but I always rejoice when the Bitcoin crashes.
Me too. I have never seen a group of people so ignorant and so arrogant as crypto-currency fans. I can't help but rejoice at their misfortunes.
Crypto crash deepens, stocks slip
91–100 of 688 posts
Re: Crypto crash deepens, stocks slip
#92Earlier quoted context omitted.
My personal take: There might well be ponzi schemes on top of the bitcoin infrastructure, but the technology behind bitcoin is not a ponzi scheme. It might well be that a lot of people are crazed over it and want to buy bitcoin and push up the price, but that's because there is something here with cryptocurrency. It definitely is a new way of accounting, and it could potentially be a hedge against the fiat system. Th…
At the purely technical level, Bitcoin’s current transactions per minute heavily limit it’s utility. The original goal was solving micro transactions which crypto coins could do, they just need to scale to ~100 Billion transactions a day +/- orders of magnitude. Unfortunately, miners benefit from the current artificial limitations. Which demonstrates an inherent issue with crypto currency, miners and users have very…
I think the layer approach seems to make the most sense. Much like our current system now. The difference comes from building from a strong sound money base.
Re: Crypto crash deepens, stocks slip
#93I just wanted to be able to buy a GPU without paying exorbitant prices because miners.
I only say this about 1% of the time I read stuff like this, and it's still too much: _Bitcoin doesn't use GPUs to mine with_. It's been custom ASICs for the last eight years or so. I think.
ASICs have had shipping shortages for months now, there's probably a lot of people using GPUs for bitcoin again, on top of ASIC-hard "crypto""currencies" that always abuse GPUs.
Re: Crypto crash deepens, stocks slip
#94As an outside observer, who has no crypto holdings at all, but is very deeply invested in the public stock market with a heavy weight on technology stocks... this doesn't look like a crash to me at all. It just looks like some steam being let off and old investors cash out and new investors get more comfortable with how much and where to invest. I consider crypto currency as it is to be an elaborate Ponzi scheme (per…
My personal take: There might well be ponzi schemes on top of the bitcoin infrastructure, but the technology behind bitcoin is not a ponzi scheme. It might well be that a lot of people are crazed over it and want to buy bitcoin and push up the price, but that's because there is something here with cryptocurrency. It definitely is a new way of accounting, and it could potentially be a hedge against the fiat system. Th…
It's unfortunate that the space has attracted "pump & dump" opportunists. But if one is a student of technology and networks and markets, Decentralized Finance (DeFi) is fascinating. Two recent innovations to check out: Uniswap, the decentralized exchange protocol, and Bitclout, a social blockchain that just went open source last nite
https://uniswap.org/docs/v2/protocol-overview/how-uniswap-wo...
Re: Crypto crash deepens, stocks slip
#95Coinbase is down for me. Gotta give it to BTC: it's a great store of value. You cannot sell it in panic, the technology is protecting you from your own psychology.
[deleted]
Re: Crypto crash deepens, stocks slip
#96Earlier quoted context omitted.
My personal take: There might well be ponzi schemes on top of the bitcoin infrastructure, but the technology behind bitcoin is not a ponzi scheme. It might well be that a lot of people are crazed over it and want to buy bitcoin and push up the price, but that's because there is something here with cryptocurrency. It definitely is a new way of accounting, and it could potentially be a hedge against the fiat system. Th…
At the purely technical level, Bitcoin’s current transactions per minute heavily limit it’s utility. The original goal was solving micro transactions which crypto coins could do, they just need to scale to ~100 Billion transactions a day +/- orders of magnitude. Unfortunately, miners benefit from the current artificial limitations. Which demonstrates an inherent issue with crypto currency, miners and users have very…
This might be shocking to people, but there are people in crypto that own zero Bitcoin. You can dislike Bitcoin and still be bullish on crypto.
Re: Crypto crash deepens, stocks slip
#97A Wyckoff Event just happened as he explains https://www.youtube.com/watch?v=rFijwQzZFuM
Re: Crypto crash deepens, stocks slip
#98Earlier quoted context omitted.
Silly comparison. Crypto holds value for its utility. Why do you seem to think that its utility will just vanish?
Because the only utility it has is that it appreciates over time. Of course, until it no longer does, then becomes worthless.
And that I can send money worldwide to anyone at any time with no middleman.
Re: Crypto crash deepens, stocks slip
#99Re: Crypto crash deepens, stocks slip
#100I don't know why, it is probably highly irrational, but I always rejoice when the Bitcoin crashes.
My rational take is that Bitcoin's carbon footprint is more-or-less a direct function of its price. The market forces are such that you can expect mining to expand until, on average, each miner's expected reward is only a little bit higher than their electricity bill and hardware costs.
If prices come down, that is going to encourage some miners to take capacity offline, which is probably great for anyone who's interested in keeping Amsterdam dry.