3 ms·

Bitcoin, Ethereum and almost every other cryptocurrency is plunging

52 points by aaron_p 9y ago

okket 9y ago
Current discussion https://news.ycombinator.com/item?id=16156687 https://news.ycombinator.com/item?id=16156687
- Twisell 9y ago
  Also please upvote both discussions asap to prevent moderation hi-jacking. It smell like an organized group of interest keep dowvoting theses threads to bury it and prevent adversarial discussion. Would be nice if someone that can analyse the log could do a study about that. Because this isn’t the first time I have this hunch about a crypto oriented thread. PS: Sorry for non-sense about downvote. See below for more.
  - paulgb 9y ago
    Bitcoin price posts in both directions are often removed from the main page for not being newsworthy and attracting uncivil discussion, I highly doubt there is any organized conspiracy.
    - Twisell 9y ago
      That a thread that generate a small amount of reactions got trashed fast is perfectly normal. But I don’t understand why recent adversial discussions with a lot of comment can never sustain more than a few hour while some, pro bitcoin thread seems to last longer. Again, it’s just a hunch, would be nice to review the log to see if I suffer cognitive bias or if my hunch is somewhat justified. I would be delighted by a « Show HN » that prove how wrong I am. PS : Sorry i didn’t get HN internal right (no downvote). So maybe studying if there is a bias toward more flagging of counterpoint on bitcoin would me more appropriate.
      - paulgb 9y ago
        My bias is not pro-bitcoin, but I personally haven't noticed pro-bitcoin posts lasting longer than anti-bitcoin posts, I think it has more to do with whether they have substance. Price events are newsworthy, but just like political events, newsworthiness doesn't they fit the scope of HN. (I'm not the one down-voting you by the way)
  - koolba 9y ago
    You can't downvote post on HN, only comments. What you're seeing is people flagging Bitcoin related posts because they have no substance. "X moved Y% in the past Z hours" with no actual news or commentary behind it isn't a story worth discussion when it happens every couple days.
KasianFranks 9y ago
Time to buy.
- iagooar 9y ago
  I'm buying. Bitcoin might as well hit 20k soon after this.
  - wklauss 9y ago
    Or it might hit 5k...
    - tankenmate 9y ago
      Watch for the dead cat bounce
    - dna_polymerase 9y ago
      Why would it, it is the largest cryptocurrency by marketcap, it is also the most well known. Also the lightning network is almost ready, meaning scalability issues are largely eradicated. Bitcoin will become usable again.
      - mschuster91 9y ago
        > Bitcoin will become usable again. Make Bitcoin great again? ;) Seriously, I doubt that BTC will be usable as a day-to-day currency soon - you still have that nasty 10-to-30-minutes confirmation delay, and the tx fees make any kind of nanotransactions (sub-dollar) totally impractical at the moment. I seriously hope that the Bitcoin devs find a way to resolve this... better sooner than later.
        eat_veggies 9y ago
        That's exactly what the lightning network that GP mentioned is supposed to fix, isn't it?
bby 9y ago
Buy the dip. I am 100% long.
dna_polymerase 9y ago
A 20% drop is reported immediately a 20% increase is not. The various Tokens see such increases and decreases all the time.
- swarnie_ 9y ago
  Maybe, maybe not. When bitcoin is off by 38% in 30 days and 17% in 7 days its clearly a sustained trend worth talking about.
- piracyde25 9y ago
  Typical. 1% drop, people go crazy. +90000% gains, nobody cares. It's just us humans like to see and talk about negative things rather than positive ones.
  - Cthulhu_ 9y ago
    People care though - there's subreddits that hype about breaking another limit. It's just that the media doesn't talk about it that much. And yet they have.
- oneeyedpigeon 9y ago
  Also, have they not realised how volatile that price is right now? In the time it takes to put out such an article, a 20% increase could easily have occurred. Or the original 20% drop might now be a 40% one.
- mr_toad 9y ago
  Reporting a continuation of a trend won’t get many page views. It’d be like a story about world population.
arthurcolle 9y ago
bitcoin so cheap this morning
deleted 9y ago
[deleted]

52 points by aaron_p 9y ago

okket 9y ago

Current discussion https://news.ycombinator.com/item?id=16156687 https://news.ycombinator.com/item?id=16156687

Twisell 9y ago
Also please upvote both discussions asap to prevent moderation hi-jacking. It smell like an organized group of interest keep dowvoting theses threads to bury it and prevent adversarial discussion. Would be nice if someone that can analyse the log could do a study about that. Because this isn’t the first time I have this hunch about a crypto oriented thread. PS: Sorry for non-sense about downvote. See below for more.
- paulgb 9y ago
  Bitcoin price posts in both directions are often removed from the main page for not being newsworthy and attracting uncivil discussion, I highly doubt there is any organized conspiracy.
  - Twisell 9y ago
    That a thread that generate a small amount of reactions got trashed fast is perfectly normal. But I don’t understand why recent adversial discussions with a lot of comment can never sustain more than a few hour while some, pro bitcoin thread seems to last longer. Again, it’s just a hunch, would be nice to review the log to see if I suffer cognitive bias or if my hunch is somewhat justified. I would be delighted by a « Show HN » that prove how wrong I am. PS : Sorry i didn’t get HN internal right (no downvote). So maybe studying if there is a bias toward more flagging of counterpoint on bitcoin would me more appropriate.
    - paulgb 9y ago
      My bias is not pro-bitcoin, but I personally haven't noticed pro-bitcoin posts lasting longer than anti-bitcoin posts, I think it has more to do with whether they have substance. Price events are newsworthy, but just like political events, newsworthiness doesn't they fit the scope of HN. (I'm not the one down-voting you by the way)
- koolba 9y ago
  You can't downvote post on HN, only comments. What you're seeing is people flagging Bitcoin related posts because they have no substance. "X moved Y% in the past Z hours" with no actual news or commentary behind it isn't a story worth discussion when it happens every couple days.

KasianFranks 9y ago

Time to buy.

iagooar 9y ago
I'm buying. Bitcoin might as well hit 20k soon after this.
- wklauss 9y ago
  Or it might hit 5k...
  - tankenmate 9y ago
    Watch for the dead cat bounce
  - dna_polymerase 9y ago
    Why would it, it is the largest cryptocurrency by marketcap, it is also the most well known. Also the lightning network is almost ready, meaning scalability issues are largely eradicated. Bitcoin will become usable again.
    - mschuster91 9y ago
      > Bitcoin will become usable again. Make Bitcoin great again? ;) Seriously, I doubt that BTC will be usable as a day-to-day currency soon - you still have that nasty 10-to-30-minutes confirmation delay, and the tx fees make any kind of nanotransactions (sub-dollar) totally impractical at the moment. I seriously hope that the Bitcoin devs find a way to resolve this... better sooner than later.
      - eat_veggies 9y ago
        That's exactly what the lightning network that GP mentioned is supposed to fix, isn't it?

bby 9y ago

Buy the dip. I am 100% long.

dna_polymerase 9y ago

A 20% drop is reported immediately a 20% increase is not. The various Tokens see such increases and decreases all the time.

swarnie_ 9y ago
Maybe, maybe not. When bitcoin is off by 38% in 30 days and 17% in 7 days its clearly a sustained trend worth talking about.
piracyde25 9y ago
Typical. 1% drop, people go crazy. +90000% gains, nobody cares. It's just us humans like to see and talk about negative things rather than positive ones.
- Cthulhu_ 9y ago
  People care though - there's subreddits that hype about breaking another limit. It's just that the media doesn't talk about it that much. And yet they have.
oneeyedpigeon 9y ago
Also, have they not realised how volatile that price is right now? In the time it takes to put out such an article, a 20% increase could easily have occurred. Or the original 20% drop might now be a 40% one.
mr_toad 9y ago
Reporting a continuation of a trend won’t get many page views. It’d be like a story about world population.

arthurcolle 9y ago

bitcoin so cheap this morning

deleted 9y ago

[deleted]