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I have been in Bitcoin since 2016 and have enjoyed my riches. The next wave of new users will come from institutions. Hacker News audience is not what will pump

I have been in Bitcoin since 2016 and have enjoyed my riches. The next wave of new users will come from institutions. Hacker News audience is not what will pump the price further.

choward 6y ago
It sound like we're in agreement that it's a pump and dump scheme and not a true investment.
- fwiwm2c 6y ago
  As they say - have fun staying poor. Think about it - if you had invested at any point in Bitcoin before today, you would have made money. But keep on resisting.
  - choward 6y ago
    > Think about it - if you had invested at any point in Bitcoin before today, you would have made money. But keep on resisting. That's irrelevant to me. It's not all about "getting rich". It's not like everyone can become rich off of bitcoin. The only way you make money is taking it from someone else. At the end of the day, real work needs to be done in the world.
    - fwiwm2c 6y ago
      Lets assume it is a ponzi scheme and then make judgments based on that assumption.
      - saalweachter 6y ago
        ... when people make money off Bitcoin, where does that money come from? At least when the scam is selling shares of an imaginary gold mine, there is hypothetically somewhere for the profits to come from. With Bitcoin, there is only a $12B/year loss to electricity charges and no where for money to come into the system but absurd transaction fees.
        fwiwm2c 6y ago
        My brain hurts when reading these silly replies. It is like you don't want to learn how things work. BTC has value because people assign to it and there is new money coming in (fiat converted to BTC) which is what makes the existing investors rich. You all do deserve to stay poor and be labeled as #nocoinists.
  - jb775 6y ago
    You could have said the same thing in December 2017 before it tanked and was lower for 3 years...with no one knowing if it would ever go back up. And give us one historic example of it being a good time to buy when the recent price chart looks like an exponential growth curve.
    - fwiwm2c 6y ago
      For sure. But look at long term trends. Since 2008, the trend has just been up and towards the right.

I have been in Bitcoin since 2016 and have enjoyed my riches. The next wave of new users will come from institutions. Hacker News audience is not what will pump the price further.

choward 6y ago

It sound like we're in agreement that it's a pump and dump scheme and not a true investment.

fwiwm2c 6y ago
As they say - have fun staying poor. Think about it - if you had invested at any point in Bitcoin before today, you would have made money. But keep on resisting.
- choward 6y ago
  > Think about it - if you had invested at any point in Bitcoin before today, you would have made money. But keep on resisting. That's irrelevant to me. It's not all about "getting rich". It's not like everyone can become rich off of bitcoin. The only way you make money is taking it from someone else. At the end of the day, real work needs to be done in the world.
  - fwiwm2c 6y ago
    Lets assume it is a ponzi scheme and then make judgments based on that assumption.
    - saalweachter 6y ago
      ... when people make money off Bitcoin, where does that money come from? At least when the scam is selling shares of an imaginary gold mine, there is hypothetically somewhere for the profits to come from. With Bitcoin, there is only a $12B/year loss to electricity charges and no where for money to come into the system but absurd transaction fees.
      - fwiwm2c 6y ago
        My brain hurts when reading these silly replies. It is like you don't want to learn how things work. BTC has value because people assign to it and there is new money coming in (fiat converted to BTC) which is what makes the existing investors rich. You all do deserve to stay poor and be labeled as #nocoinists.
- jb775 6y ago
  You could have said the same thing in December 2017 before it tanked and was lower for 3 years...with no one knowing if it would ever go back up. And give us one historic example of it being a good time to buy when the recent price chart looks like an exponential growth curve.
  - fwiwm2c 6y ago
    For sure. But look at long term trends. Since 2008, the trend has just been up and towards the right.