5 ms·

delusional, this just continues to waste resources for peoole to speculate. resources wasted, lives ruined when they get the gambling wrong. everybody cut this

delusional, this just continues to waste resources for peoole to speculate. resources wasted, lives ruined when they get the gambling wrong. everybody cut this crap out, please.

doomroot 6y ago
What if you’re wrong?
- capsulecorp 6y ago
  He isn't.
  - randomhodler84 6y ago
    And what if you are wrong too? It’s not too late to get out of the old game and into the new one.
    - capsulecorp 6y ago
      I'm not.
      - randomhodler84 6y ago
        My apologies, didn’t realize you were a bcasher. I’m sorry for your loss.
        capsulecorp 6y ago
        No worries, don't know what your talking about, but the loss is yours buddy, sorry to pop your crypto kiddie bubble.
    - yunohn 6y ago
      > randomhodler84 Well, atleast your username checks out, and we all understand that you’re in the BTC Ponzi scheme for good.
jksmith 6y ago
Well there's nothing wrong with considering a store of value to keep you from being under the thumb of fiat. So there's works of art, maybe some other metals, some really unusual one-off earth property. So what you have left is crypto or gold. So invest in gold and encourage more gold mining. Or just trust your government and hold cash. Either way, you're losing a shitload of value. Hedge a small piece of your opinion for a year, then re-evaluate in 2022. Then feel free to come back on HN in 2022 and share your opinions on the subject.
- wespiser_2018 6y ago
  How's is bitcoin even a hedge against the dollar when it's correlated with the U.S. stock market? So many things just don't add up, like is btc a currency or an investment? Fiat currency is really the only spendable currency.
  - ur-whale 6y ago
    > when it's correlated with the U.S. stock market? Source?
  - swensel 6y ago
    I'm a Bitcoin fan and I actually do agree, some of the narratives conflict. From my perspective it is a new asset class and the world is still figuring out what it is. It does, so far, seem to be a risk on asset, as it didn't perform well in March 2020. It is already storing over $1 trillion of the world's wealth though, and in this case, money talks. Yes, it might have a correction, but the S&P 500 might as well. That said, Bitcoin's properties may change over time, and it may become more of a hedge. It does seem to have a lot of believers, and IMO, the technology is what makes it very interesting. It has been running successfully for a decade, and we'll be able to figure out more of what it is in 2, 3, or 5 years. I think, why not hold some, even just a little bit? IMO, people shouldn't put 100% in, and definitely don't take out any loans to do so (maybe unless you are a company, but I'm against individuals taking loans out for it). You never know, maybe some of the current narratives are correct.
    - 6y ago
space_rock 6y ago
Is it only speculation or do people get utility out of Bitcoin? Can someone in Venezuela use it get their money out of the country?
- swensel 6y ago
  Someone in Venezuela could put their money in Bitcoin to prevent against currency debasement of their native currency. They also could get their money out of the country using it.

delusional, this just continues to waste resources for peoole to speculate. resources wasted, lives ruined when they get the gambling wrong. everybody cut this crap out, please.

doomroot 6y ago

What if you’re wrong?

capsulecorp 6y ago
He isn't.
- randomhodler84 6y ago
  And what if you are wrong too? It’s not too late to get out of the old game and into the new one.
  - capsulecorp 6y ago
    I'm not.
    - randomhodler84 6y ago
      My apologies, didn’t realize you were a bcasher. I’m sorry for your loss.
      - capsulecorp 6y ago
        No worries, don't know what your talking about, but the loss is yours buddy, sorry to pop your crypto kiddie bubble.
  - yunohn 6y ago
    > randomhodler84 Well, atleast your username checks out, and we all understand that you’re in the BTC Ponzi scheme for good.

jksmith 6y ago

Well there's nothing wrong with considering a store of value to keep you from being under the thumb of fiat. So there's works of art, maybe some other metals, some really unusual one-off earth property. So what you have left is crypto or gold. So invest in gold and encourage more gold mining. Or just trust your government and hold cash. Either way, you're losing a shitload of value. Hedge a small piece of your opinion for a year, then re-evaluate in 2022. Then feel free to come back on HN in 2022 and share your opinions on the subject.

wespiser_2018 6y ago
How's is bitcoin even a hedge against the dollar when it's correlated with the U.S. stock market? So many things just don't add up, like is btc a currency or an investment? Fiat currency is really the only spendable currency.
- ur-whale 6y ago
  > when it's correlated with the U.S. stock market? Source?
- swensel 6y ago
  I'm a Bitcoin fan and I actually do agree, some of the narratives conflict. From my perspective it is a new asset class and the world is still figuring out what it is. It does, so far, seem to be a risk on asset, as it didn't perform well in March 2020. It is already storing over $1 trillion of the world's wealth though, and in this case, money talks. Yes, it might have a correction, but the S&P 500 might as well. That said, Bitcoin's properties may change over time, and it may become more of a hedge. It does seem to have a lot of believers, and IMO, the technology is what makes it very interesting. It has been running successfully for a decade, and we'll be able to figure out more of what it is in 2, 3, or 5 years. I think, why not hold some, even just a little bit? IMO, people shouldn't put 100% in, and definitely don't take out any loans to do so (maybe unless you are a company, but I'm against individuals taking loans out for it). You never know, maybe some of the current narratives are correct.
  - 6y ago

space_rock 6y ago

Is it only speculation or do people get utility out of Bitcoin? Can someone in Venezuela use it get their money out of the country?

swensel 6y ago
Someone in Venezuela could put their money in Bitcoin to prevent against currency debasement of their native currency. They also could get their money out of the country using it.