3 ms·

Anything negative crypto-related ends up on front page of HN. It used to bother me a bit but its become quite amusing to observe. Honestly its a meme at this po

Anything negative crypto-related ends up on front page of HN. It used to bother me a bit but its become quite amusing to observe. Honestly its a meme at this point.

schleck8 4y ago
And I hope it continues this way until crypto evolves beyond the ponzi model. People can lose real money on these alpha-stage experiments.
- mettamage 4y ago
  I hope it continues to evolve too! But c’mon, lower than 20k? Not newsworthy IMO, not with an attempt at a strong analysis behind (e.g. some on-chain analysis of outflows/inflows)
  - csydas 4y ago
    While I get what you're saying, it is important that it has dipped a significant amount because I think it questions the value of BTC as a store of value and it allows a lot of discussions on the level of volatility, and likely invokes a lot of emotions in people who do believe in the goals of BTC as an alternative store of money. One of my colleagues is from north Africa and worked in Europe to send money to his family and friends, investing in BTC as it was easier to handle the international transfers. This was a great use for BTC in my opinion and it helped him raise his close ones out of poverty on paper :) But with the dip, and people believing in the staying power of BTC, a lot of those funds are compromised now. They're not ruined and people are still better off than others, but there's a real concern on if it will be worth it to continue with BTC; the buy-in price is now higher than the current price by far and the total investment has devalued greatly and continuesto devalue without a lot of insight as to why or what can even be done. So I think the personal stories like this emphasize the importance of the drop, especially since 20k was a fairly signofjcakt growth point for BTC as I remember it.
    - mettamage 4y ago
      Well, your comment is certainly interesting :)

3 ms·

Anything negative crypto-related ends up on front page of HN. It used to bother me a bit but its become quite amusing to observe. Honestly its a meme at this po

by crypt1d 4y ago

Anything negative crypto-related ends up on front page of HN. It used to bother me a bit but its become quite amusing to observe. Honestly its a meme at this point.

schleck8 4y ago
And I hope it continues this way until crypto evolves beyond the ponzi model. People can lose real money on these alpha-stage experiments.
- mettamage 4y ago
  I hope it continues to evolve too! But c’mon, lower than 20k? Not newsworthy IMO, not with an attempt at a strong analysis behind (e.g. some on-chain analysis of outflows/inflows)
  - csydas 4y ago
    While I get what you're saying, it is important that it has dipped a significant amount because I think it questions the value of BTC as a store of value and it allows a lot of discussions on the level of volatility, and likely invokes a lot of emotions in people who do believe in the goals of BTC as an alternative store of money. One of my colleagues is from north Africa and worked in Europe to send money to his family and friends, investing in BTC as it was easier to handle the international transfers. This was a great use for BTC in my opinion and it helped him raise his close ones out of poverty on paper :) But with the dip, and people believing in the staying power of BTC, a lot of those funds are compromised now. They're not ruined and people are still better off than others, but there's a real concern on if it will be worth it to continue with BTC; the buy-in price is now higher than the current price by far and the total investment has devalued greatly and continuesto devalue without a lot of insight as to why or what can even be done. So I think the personal stories like this emphasize the importance of the drop, especially since 20k was a fairly signofjcakt growth point for BTC as I remember it.
    - mettamage 4y ago
      Well, your comment is certainly interesting :)