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HN is not special. Every public exposure precedes a bubble, that's how it works, influx of new buyers raises the price.
by Paul_S 9y ago
HN is not special. Every public exposure precedes a bubble, that's how it works, influx of new buyers raises the price.
- LyndsySimon 9y agoIntuitively, HN may be special. We're probably the most tech-savvy community of our size on the Internet; I would expect that HN would discuss happenings in the world of cryptocurrencies before, for instance, the NY Times. I would also expect that the demand that drives market bubbles comes from a larger, less-technical audience. Therefore, I would expect that news hitting HN would be one of the first indications that a "hype cycle" is starting, which will likely result in a price increase due to speculation by the general public.
- mtgx 9y agoIf NYT is the "mainstream" general media, then HN is the "mainstream" tech media. Just as some stuff reaches the NYT late, most tech stuff tends to reach HN quite late, too. A perfect example of that is the "hype" for cryptocurrencies. The hype cycle is not starting when it reaches HN, but it's close to its peak at that point. HN started being interested in Ethereum and Bitcoin again less than two months ago. That's pretty much when both of those reached their peak prices in this cycle. So when Ethereum, or Bitcoin, or some other hot cryptocurrency reaches HN in a year or two, know that then it's not the time to buy it, but to sell it (obviously if you already knew about it beforehand, which you wouldn't if you only got your crytocurrency news from HN, as mentioned above).
- spondyl 9y agoConsidering Floyd Mayweather just announced he's going to make a "shitload of money" thanks to an upcoming ICO in August, I think we're definitely at, or very near, peak hype for crypto.