Bitcoin surpasses $50K as major companies jump into crypto
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Re: Bitcoin surpasses $50K as major companies jump into crypto
#2Bitcoin still isn’t worth $1 trillion, which is the value of one large tech company. I think bitcoin is useful and important enough to be worth several large tech companies. Therefore, not selling! Onward to 100k.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#3> many crypto investors to believe the latest bull run is different
"This time it's different" isn't an argument I find compelling for why something that is known to have bubbles and manipulation isn't in a bubble.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#4I'm patiently waiting for the dismissals (it's just a fad like tulips or beanie babies), the negative permabulls (it's evil because people can use it to buy drugs / not pay taxes, it can't do as many TPS as Visa, it's bad for the environment...) while laughing all the way to the bank.
Crypto is the HN equivalent of what the ipod was to Slashdot: "lame" to the people who think they are the typical user, who declare there is no product-market fit. Maybe after 12 years of being constantly proven wrong, it's time for the old guard to stop being luddites and concede it has been very wrong?
Re: Bitcoin surpasses $50K as major companies jump into crypto
#5> many crypto investors to believe the latest bull run is different "This time it's different" isn't an argument I find compelling for why something that is known to have bubbles and manipulation isn't in a bubble.
I agree, GME was bad enough but no way I’ll touch TSLA.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#6We're truly witnessing an extraordinary paradigm shift in human history.
Re: Bitcoin surpasses $50K as major companies jump into crypto
#7Bitcoin still isn’t worth $1 trillion, which is the value of one large tech company. I think bitcoin is useful and important enough to be worth several large tech companies. Therefore, not selling! Onward to 100k.
When it hits around $54k it will be worth a trillion so give it a few minutes :)
Re: Bitcoin surpasses $50K as major companies jump into crypto
#8I'm patiently waiting for the dismissals (it's just a fad like tulips or beanie babies), the negative permabulls (it's evil because people can use it to buy drugs / not pay taxes, it can't do as many TPS as Visa, it's bad for the environment...) while laughing all the way to the bank. Crypto is the HN equivalent of what the ipod was to Slashdot: "lame" to the people who think they are the typical user, who declare th…
Both nocoiners and coiners are locked into their positions so hard it’s “I’ll go down with the ship” at this point. At least one side gets to be rich though!
Re: Bitcoin surpasses $50K as major companies jump into crypto
#9> many crypto investors to believe the latest bull run is different "This time it's different" isn't an argument I find compelling for why something that is known to have bubbles and manipulation isn't in a bubble.
For 12 years, just bubbles? First it was over 1 cent, then over $1, over $1000, now over $50k.... when will you consider the possibility you may have been wrong? At $100k? At $1M? (which most models indicate as a plausible target price in 10 years)
Let me give you my favorite quote, pulled from another HNer comment: "I enjoy reading comments about Bitcoin here because even without any venture backing, it achieved a bigger valuation than all of the Y Combinator companies COMBINED, yet people still think it is unstable and has no future."
Re: Bitcoin surpasses $50K as major companies jump into crypto
#10I'm patiently waiting for the dismissals (it's just a fad like tulips or beanie babies), the negative permabulls (it's evil because people can use it to buy drugs / not pay taxes, it can't do as many TPS as Visa, it's bad for the environment...) while laughing all the way to the bank. Crypto is the HN equivalent of what the ipod was to Slashdot: "lame" to the people who think they are the typical user, who declare th…
Regardless of whether you agree with all the evil stuff, the fact is that Bitcoin is generating a lot of noise, speculation, and wasting a bunch of energy for practically nothing.
I know practically no one around me who has ever used Bitcoin for actual purchases other than buying drugs once. And I know literally no one who uses it in daily life. However I have a few dozen friends who bought Bitcoin because it's going to go to the moon or something.