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People here cheer for fall of Bitcoin and end of cryto not seeing that GOOG dropped from 2999.05 to 2157 and both charts look pretty much the same?

by agilob 4y ago

rvz 4y ago
There you go. In the last 6 - 7 months the SNP 500 is down from its ATH, taking all the other stocks with it and especially even those at Netflix or holding NFLX stock. They have been awfully quiet ever since. The market needs a wipe out of the speculators, VCs, scammers and retail investors to drain out the billions of dumb money to cause these prices to go down again to around November 2020. This is why once Tether collapses, we will see Bitcoin at $10K again, lower than we have seen since March 2020. As for the stock market, It isn't done and can still drop further as soon as the Fed increases rates again in July and the layoffs will accelerate when the VCs continue to deny more funding for the vast majority of useless unprofitable startups that will also be wiped out. Either way, Just like 90% of startups fail. 90% of these cryptocurrency / blockchain projects won't survive this bear market or even the first foot of regulations. The remaining 10% will continue to survive once again.
111111101101 4y ago
It's sour grapes. I first heard of bitcoin in a HN post 11 or so years ago and I'm still kicking myself for not mining a few thousand then. "Nice idea but it wont succeed" were my thoughts...
- scoofy 4y ago
  My only solace is that I was into Dogecoin, and did mine/acquire about 30 or so. At it's peak, annoyed, I tried to find my old computer with my wallet. I gave it an honest try, but then looked up the amount the doge was worth. Somewhere around $20 at it's peak. I would have really been bummed if it'd been worth anything.
cmrdporcupine 4y ago
GOOG has not dropped 45% in a year. (Not that I care much, I sold all my GSUs after I quit in January, and lucked out and hit it at its peak)
layer8 4y ago
The fact that Bitcoin behaves like a stock is itself an argument against Bitcoin.
sentirism 4y ago
GOOG had 22% revenue growth up to 68 billion dollars last quarter. Not being able to see the difference between GOOG and crypto pretty much sums up the sophistication of crypto investors.
- koonsolo 4y ago
  The original comment is still valid: why is the drop in Bitcoin on the top page of HN, and the drop of GOOG not?
  - effingwewt 4y ago
    Probably because so many have been watching this closely. It's a very polarizing issue. I hadn't realized google was falling hard, that's great news to me, and I wish it had been on the front page. Could be google hiding from bad press here as they are wont to do.
quickthrowman 4y ago
Google made $72B in profits on $257B sales in 2021.[0] What was BTC’s earnings for 2021? [0] https://abc.xyz/investor/static/pdf/2021Q4_alphabet_earnings_release.pdf https://abc.xyz/investor/static/pdf/2021Q4_alphabet_earnings...
IAmGraydon 4y ago
The theme is clear...liquidation of overpriced tech assets.

People here cheer for fall of Bitcoin and end of cryto not seeing that GOOG dropped from 2999.05 to 2157 and both charts look pretty much the same?

by agilob 4y ago

People here cheer for fall of Bitcoin and end of cryto not seeing that GOOG dropped from 2999.05 to 2157 and both charts look pretty much the same?

rvz 4y ago

There you go. In the last 6 - 7 months the SNP 500 is down from its ATH, taking all the other stocks with it and especially even those at Netflix or holding NFLX stock. They have been awfully quiet ever since. The market needs a wipe out of the speculators, VCs, scammers and retail investors to drain out the billions of dumb money to cause these prices to go down again to around November 2020. This is why once Tether collapses, we will see Bitcoin at $10K again, lower than we have seen since March 2020. As for the stock market, It isn't done and can still drop further as soon as the Fed increases rates again in July and the layoffs will accelerate when the VCs continue to deny more funding for the vast majority of useless unprofitable startups that will also be wiped out. Either way, Just like 90% of startups fail. 90% of these cryptocurrency / blockchain projects won't survive this bear market or even the first foot of regulations. The remaining 10% will continue to survive once again.

111111101101 4y ago

It's sour grapes. I first heard of bitcoin in a HN post 11 or so years ago and I'm still kicking myself for not mining a few thousand then. "Nice idea but it wont succeed" were my thoughts...

scoofy 4y ago
My only solace is that I was into Dogecoin, and did mine/acquire about 30 or so. At it's peak, annoyed, I tried to find my old computer with my wallet. I gave it an honest try, but then looked up the amount the doge was worth. Somewhere around $20 at it's peak. I would have really been bummed if it'd been worth anything.

cmrdporcupine 4y ago

GOOG has not dropped 45% in a year. (Not that I care much, I sold all my GSUs after I quit in January, and lucked out and hit it at its peak)

layer8 4y ago

The fact that Bitcoin behaves like a stock is itself an argument against Bitcoin.

sentirism 4y ago

GOOG had 22% revenue growth up to 68 billion dollars last quarter. Not being able to see the difference between GOOG and crypto pretty much sums up the sophistication of crypto investors.

koonsolo 4y ago
The original comment is still valid: why is the drop in Bitcoin on the top page of HN, and the drop of GOOG not?
- effingwewt 4y ago
  Probably because so many have been watching this closely. It's a very polarizing issue. I hadn't realized google was falling hard, that's great news to me, and I wish it had been on the front page. Could be google hiding from bad press here as they are wont to do.

quickthrowman 4y ago

Google made $72B in profits on $257B sales in 2021.[0] What was BTC’s earnings for 2021? [0] https://abc.xyz/investor/static/pdf/2021Q4_alphabet_earnings_release.pdf https://abc.xyz/investor/static/pdf/2021Q4_alphabet_earnings...

IAmGraydon 4y ago

The theme is clear...liquidation of overpriced tech assets.