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This is where the bubble pops folks. You watched it here live.

by thrower 6y ago

ionwake 6y ago
Which one of the bubbles?
- thrower 6y ago
  People over-leveraging themselves to buy Bitcoin, which anyone with real experience has already moved on from for better designed crypto by the way, is a clear sign that right now we are at peak hype in this space. This is me speaking as someone who read the white paper on Bitcoin in 2010, and then mined on my GPU for all of 2011-2012 to help build out the network. I have since moved on, as have other practitioners. The only people that remain on Bitcoin are retail speculators, governments with seized assets, and financial institutions. It’s not a healthy makeup, and extraordinarily toxic to the greater crypto community as a whole in my honest opinion.
  - ionwake 6y ago
    Which is a better designed crypto? It cant be too toxic if its a well performing investment asset right?
    - nullc 6y ago
      Oh jesus don't bait the shills into pumping their premined scam garbage in every thread that discusses Bitcoin. They do it enough without encouragement.
  - nullc 6y ago
    > and then mined on my GPU for all of 2011-2012 to help build out the network I suppose you also expect us to believe that you're in line for the British crown?
    - thrower 6y ago
      What part of my comment is difficult to believe?
      - ionwake 6y ago
        lol I know right
      - nullc 6y ago
        The part where it's the same worthless claim which is falsely made by a multitude of similar sounding altcoin pumpers over and over again. If it were true, you could easily prove it.
- ivanche 6y ago
  A combination of Mississipi bubble [1] and The Great Depression. Here we have a conversion of debt into suspicious equity and at the same time leveraging to invest (i.e. buying with the money you don't have). Both usually end in bankruptcies, financial ruins, suicides, homicides... [1] http://www.thebubblebubble.com/mississippi-bubble/ http://www.thebubblebubble.com/mississippi-bubble/
Erlich_Bachman 6y ago
Put your money where your mouth is and short it then. Otherwise such statements are empty predictions with no responsibility or weight behind them.
- thrower 6y ago
  > Put your money where your mouth is and short it then. This is exactly what I’m talking about. The original spirit/purpose of Bitcoin has been completely taken over by financial engineering and speculation. And it’s such a shame.
  - Erlich_Bachman 6y ago
    Ok, so you have a sentiment that Bitcoin and crypto is more than it's price and speculations. But you started talking about the price and bubbles, how does that further your goal of sharing this sentiment? You wrote about the price yourself? Or are you referring to the bubble of mindshare? "Bubble" usually refers to price, I might have misunderstood you?
nullc 6y ago
If you're as sure of this as you are presenting yourself then why are you posting here instead of rushing over to LedgerX and opening an account so you can purchase puts from me?

This is where the bubble pops folks. You watched it here live.

ionwake 6y ago

Which one of the bubbles?

thrower 6y ago
People over-leveraging themselves to buy Bitcoin, which anyone with real experience has already moved on from for better designed crypto by the way, is a clear sign that right now we are at peak hype in this space. This is me speaking as someone who read the white paper on Bitcoin in 2010, and then mined on my GPU for all of 2011-2012 to help build out the network. I have since moved on, as have other practitioners. The only people that remain on Bitcoin are retail speculators, governments with seized assets, and financial institutions. It’s not a healthy makeup, and extraordinarily toxic to the greater crypto community as a whole in my honest opinion.
- ionwake 6y ago
  Which is a better designed crypto? It cant be too toxic if its a well performing investment asset right?
  - nullc 6y ago
    Oh jesus don't bait the shills into pumping their premined scam garbage in every thread that discusses Bitcoin. They do it enough without encouragement.
- nullc 6y ago
  > and then mined on my GPU for all of 2011-2012 to help build out the network I suppose you also expect us to believe that you're in line for the British crown?
  - thrower 6y ago
    What part of my comment is difficult to believe?
    - ionwake 6y ago
      lol I know right
    - nullc 6y ago
      The part where it's the same worthless claim which is falsely made by a multitude of similar sounding altcoin pumpers over and over again. If it were true, you could easily prove it.
ivanche 6y ago
A combination of Mississipi bubble [1] and The Great Depression. Here we have a conversion of debt into suspicious equity and at the same time leveraging to invest (i.e. buying with the money you don't have). Both usually end in bankruptcies, financial ruins, suicides, homicides... [1] http://www.thebubblebubble.com/mississippi-bubble/ http://www.thebubblebubble.com/mississippi-bubble/

Erlich_Bachman 6y ago

Put your money where your mouth is and short it then. Otherwise such statements are empty predictions with no responsibility or weight behind them.

thrower 6y ago
> Put your money where your mouth is and short it then. This is exactly what I’m talking about. The original spirit/purpose of Bitcoin has been completely taken over by financial engineering and speculation. And it’s such a shame.
- Erlich_Bachman 6y ago
  Ok, so you have a sentiment that Bitcoin and crypto is more than it's price and speculations. But you started talking about the price and bubbles, how does that further your goal of sharing this sentiment? You wrote about the price yourself? Or are you referring to the bubble of mindshare? "Bubble" usually refers to price, I might have misunderstood you?

nullc 6y ago

If you're as sure of this as you are presenting yourself then why are you posting here instead of rushing over to LedgerX and opening an account so you can purchase puts from me?