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It seems that way because you are not aware if how it is being used in practice. As a savings vehicle, holding for 4 years has never been a mistake. Globally,

It seems that way because you are not aware if how it is being used in practice. As a savings vehicle, holding for 4 years has never been a mistake. Globally, and for half a decade, it has been protecting poor people by giving them an exit. Millions of Venezuelans have avoided starvation by using it to avoid massive inflation destroying their savings. It is held in every country and every community. I remember comments just like yours in the past 4 years who pretended like everyone got in at $20k (a price that existed for a day). Average price over past 4 years is way below todays price. And todays price is only down due to this coordinated FUD attack. PS— I am the only one who made a substantive comment on this thread and am being heavily down voted. HN isn't a place of ideas, it is a place where where only a narrow, anti-human rights, ideology is tolerated.

SunlightEdge 5y ago
This is total rubbish: "HN isn't a place of ideas, it is a place where where only a narrow, anti-human rights, ideology is tolerated." If you really believe this then you seriously need to time off to reflect. It simply isn't true. Where is good, the bitcoin community on twitter? Yes lots of people have made money off crypto. It's hard to say how many as I'm not aware of any research into this figure. That doesn't negate the criticism thrown at cryptocurrencies. Criticism demonstrates playing with ideas.
- cyphertruck 5y ago
  Notice your entire response is a downvote and the assertion “that is total rubbish”. Not a rebuttal. Not even an attempt to address the point, followed with a personal attack. Telling me I need a time out is exactly the kind of personal attack that is really just your confession that you are anti-intellectual and you are upset that I pointed out the hypocrisy. And of course you want me to take a “time out” because the last thing you want is to be confronted with facts that undermine your bigotry.
  - SunlightEdge 5y ago
    So I've asked for an example of a community that is good. Can you give any? Honestly I'd be really interested in knowing about it. On Bitcoin, do you honestly not think there is no cult like behaviours with this movement? No shilling? No ignoring inconvenient facts? I'm not an enermy. I'm happy to have an engaged discussion here. The idea that hacker news is toxic does strike me as absurd. It's not perfect but it's well designed for polite engagement. I'm more than happy to discuss bitcoin with you too. I feel like I've been straw manned.
lottin 5y ago
How can inflation cause starvation, can you elaborate? This is novel idea in the field of economics.
iamben 5y ago
I'm very aware of how it's used in practice. I stand by my point that this has miles to go before it's for "regular people" and you kind of prove it in your response. Sure, if you had cash to put into bitcoin and hold for 4 years, you might have made more - but most "regular people" do not. The swings are far too wild to price anything in BTC (rather than peg it to another currency and convert it to BTC) so ultimately we're all still cashing out for dollars or pounds, and someone has to lose for that to happen. If you're an early adopter, or and insider, you know the perfect time to cash out and "buy the dip". 'Regular people' not so much. My comment was not an attack on you, cryptocurrency, human-rights or anything else. I'm sure you've done very well from Bitcoin - but it's not ready for my mum.

SunlightEdge 5y ago

This is total rubbish: "HN isn't a place of ideas, it is a place where where only a narrow, anti-human rights, ideology is tolerated." If you really believe this then you seriously need to time off to reflect. It simply isn't true. Where is good, the bitcoin community on twitter? Yes lots of people have made money off crypto. It's hard to say how many as I'm not aware of any research into this figure. That doesn't negate the criticism thrown at cryptocurrencies. Criticism demonstrates playing with ideas.

cyphertruck 5y ago
Notice your entire response is a downvote and the assertion “that is total rubbish”. Not a rebuttal. Not even an attempt to address the point, followed with a personal attack. Telling me I need a time out is exactly the kind of personal attack that is really just your confession that you are anti-intellectual and you are upset that I pointed out the hypocrisy. And of course you want me to take a “time out” because the last thing you want is to be confronted with facts that undermine your bigotry.
- SunlightEdge 5y ago
  So I've asked for an example of a community that is good. Can you give any? Honestly I'd be really interested in knowing about it. On Bitcoin, do you honestly not think there is no cult like behaviours with this movement? No shilling? No ignoring inconvenient facts? I'm not an enermy. I'm happy to have an engaged discussion here. The idea that hacker news is toxic does strike me as absurd. It's not perfect but it's well designed for polite engagement. I'm more than happy to discuss bitcoin with you too. I feel like I've been straw manned.

lottin 5y ago

How can inflation cause starvation, can you elaborate? This is novel idea in the field of economics.

iamben 5y ago

I'm very aware of how it's used in practice. I stand by my point that this has miles to go before it's for "regular people" and you kind of prove it in your response. Sure, if you had cash to put into bitcoin and hold for 4 years, you might have made more - but most "regular people" do not. The swings are far too wild to price anything in BTC (rather than peg it to another currency and convert it to BTC) so ultimately we're all still cashing out for dollars or pounds, and someone has to lose for that to happen. If you're an early adopter, or and insider, you know the perfect time to cash out and "buy the dip". 'Regular people' not so much. My comment was not an attack on you, cryptocurrency, human-rights or anything else. I'm sure you've done very well from Bitcoin - but it's not ready for my mum.