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“It is fascinating just how quickly sentiments can change” Sounds like a classic bubble that people have been warning about. Tulips all over again? https://ww

“It is fascinating just how quickly sentiments can change” Sounds like a classic bubble that people have been warning about. Tulips all over again? https://www.cnbc.com/amp/2022/05/02/warren-buffett-wouldnt-spend-25-on-all-of-the-bitcoin-in-the-world.html https://www.cnbc.com/amp/2022/05/02/warren-buffett-wouldnt-s...

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ChrisRR 4y ago
Beanie Babies all over again
- scoopertrooper 4y ago
  Worse, at least the Beanie Bros had warehouses full of stuffed toys to remind them of their mistakes in the end. All the cryptoists get is a lousy set of characters for their trouble.
  - omnibrain 4y ago
    And you still could use them for their original purpose: as a toy. A few months ago I read a post on Reddit who someone who is now a teacher uses them as a occasionally gift for pupils: https://www.reddit.com/r/mildlyinteresting/comments/s5rz7s/comment/ht09pof/?utm_source=share&utm_medium=web2x&context=3 https://www.reddit.com/r/mildlyinteresting/comments/s5rz7s/c...
highwaylights 4y ago
They’ll be fine. There’s another sucker born every minute (although, you know, declining birth rates). No-one learned their lesson after 2018, so they aren’t about to start now. People like easy money. If you tell them the truth, they’ll just accuse you of trying to trick them into staying poor. It’s a can’t lose business model! Sarcasm aside, the total return of Bitcoin since the peak in 2017 is now approaching 0% ($20k peak). I suspect that alone will do more to break the spirit of the twitter hype mafia than anything else. Even after everything that has happened lately, regular old S&P 500 index funds are up about 65% in that same time.
- nicbou 4y ago
  The problem is that people have started to invest other people's money in crypto. Quebec, El Salvador, and probably a few private funds now hold crypto and crypto-related assets. Then there are people who simply don't know better and were conned into throwing money at crypto.

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ChrisRR 4y ago

Beanie Babies all over again

scoopertrooper 4y ago
Worse, at least the Beanie Bros had warehouses full of stuffed toys to remind them of their mistakes in the end. All the cryptoists get is a lousy set of characters for their trouble.
- omnibrain 4y ago
  And you still could use them for their original purpose: as a toy. A few months ago I read a post on Reddit who someone who is now a teacher uses them as a occasionally gift for pupils: https://www.reddit.com/r/mildlyinteresting/comments/s5rz7s/comment/ht09pof/?utm_source=share&utm_medium=web2x&context=3 https://www.reddit.com/r/mildlyinteresting/comments/s5rz7s/c...

highwaylights 4y ago

They’ll be fine. There’s another sucker born every minute (although, you know, declining birth rates). No-one learned their lesson after 2018, so they aren’t about to start now. People like easy money. If you tell them the truth, they’ll just accuse you of trying to trick them into staying poor. It’s a can’t lose business model! Sarcasm aside, the total return of Bitcoin since the peak in 2017 is now approaching 0% ($20k peak). I suspect that alone will do more to break the spirit of the twitter hype mafia than anything else. Even after everything that has happened lately, regular old S&P 500 index funds are up about 65% in that same time.

nicbou 4y ago
The problem is that people have started to invest other people's money in crypto. Quebec, El Salvador, and probably a few private funds now hold crypto and crypto-related assets. Then there are people who simply don't know better and were conned into throwing money at crypto.