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Every cycle brings in more “true” bitcoiners that will DCA and buy BTC at any price. It will go up again. Just a matter of time. A bit tired of these “Bitcoin

Every cycle brings in more “true” bitcoiners that will DCA and buy BTC at any price. It will go up again. Just a matter of time. A bit tired of these “Bitcoin is dead” articles. They almost never adds anything to the discussion.

alangibson 4y ago
If you look closer you'll see that most HN commenters across all crypto threads are dancing in the grave if DeFi (aka illegal penny stocks), Tether, etc. Most people on HN accept that there is some use for some cryotocurrencies.
- dubswithus 4y ago
  > Most people on HN accept that there is some use for some cryotocurrencies. I would say the opposite. It's rare to see anything positive or even neutral.
  - krapp 4y ago
    To be fair, facilitating scams and organized crime are still technically uses...
- SamBam 4y ago
  > Most people on HN accept that there is some use for some cryotocurrencies. I expect that's a false-consensus bias. But without some kind of survey we can't be sure.
dragontamer 4y ago
This last cycle was supported by literal celebrities and a legion of Super Bowl commercials. There's no one else to "grow" the audience anymore. Cryptocoins are 100% within the mainstream consciousness. There are now three kinds of people out there: 1. People who know about Cryptocoins and never trusted them. (They saw the superbowl commercials and decided it was stupid). 2. People who bought in within the last 2 years (because of the big advertising spree) and only know what a 60% loss on their assets feels like. 3. People who bought in _before_ the last 2 years, a very, very small minority of people. #3 is not enough to return BTC to $60,000+ heights. And with #1 and #2 distrusting the coin now, I dare say its over. Type #4: "ignorant" people who haven't heard of BTC yet, are completely non-existent now. Superbowl commercials, Cable News, Facebook ads, and more have ensured that everyone has heard of this by now.
- usrn 4y ago
  You've done that thing where you think the Anglosphere is the whole world when it's really something like 10%. There's plenty of room for growth.
  - dragontamer 4y ago
    Care to tell me where in the world you think BTC has a chance? El Salvador? Hong Kong with Three Arrow's Capital collapse? Russia with its collapsing economy? I admit I'm ignorant about many parts of the world. But the parts of the world that "matter" with regards to propping up the price of BTC, are the parts that have money. That narrows the list significantly. * In Asia, there's China, Singapore, Japan, Philippines and a few others. I'm watching anime make fun of Blockchain (Japan), Three Arrows Capital blow up in Hong Kong, and Axie Infinity completely screw over working class Filipinos. * Europe largely knows English and are just adjacent to the Anglosphere. (I'd expect the French and Germans etc. etc. to know about this whole crypto-nonsense by now as well) -------- I guess I'm ignorant about India and some other corners of the world (and Indians know a lot about English anyway and would be adjacent). Who in the world do you think can be brought into this cryptocoin nonsense now? Where can the cryptocoin world find "new converts", who have enough money to make a difference?
    - Geee 4y ago
      It's about understanding bitcoin. As long as more people understand it, more people will buy it. I've never seen anyone who understands bitcoin, but doesn't buy it. Especially in bear markets, people will focus more on learning what's it about, rather than speculating on the price. All the 'crypto' stuff can go. This is the opposite. When people understand them, they'll sell.
      - dgfitz 4y ago
        I suppose you haven’t seen me per se, but I understand Bitcoin and the closest I’ve gotten to buying it was BITO puts 2 weeks ago.
ls15 4y ago
> A bit tired of these “Bitcoin is dead” articles. They almost never adds anything to the discussion. They surely add to the list: https://99bitcoins.com/bitcoin-obituaries/ https://99bitcoins.com/bitcoin-obituaries/
stiltzkin 4y ago

alangibson 4y ago

If you look closer you'll see that most HN commenters across all crypto threads are dancing in the grave if DeFi (aka illegal penny stocks), Tether, etc. Most people on HN accept that there is some use for some cryotocurrencies.

dubswithus 4y ago
> Most people on HN accept that there is some use for some cryotocurrencies. I would say the opposite. It's rare to see anything positive or even neutral.
- krapp 4y ago
  To be fair, facilitating scams and organized crime are still technically uses...
SamBam 4y ago
> Most people on HN accept that there is some use for some cryotocurrencies. I expect that's a false-consensus bias. But without some kind of survey we can't be sure.

dragontamer 4y ago

This last cycle was supported by literal celebrities and a legion of Super Bowl commercials. There's no one else to "grow" the audience anymore. Cryptocoins are 100% within the mainstream consciousness. There are now three kinds of people out there: 1. People who know about Cryptocoins and never trusted them. (They saw the superbowl commercials and decided it was stupid). 2. People who bought in within the last 2 years (because of the big advertising spree) and only know what a 60% loss on their assets feels like. 3. People who bought in _before_ the last 2 years, a very, very small minority of people. #3 is not enough to return BTC to $60,000+ heights. And with #1 and #2 distrusting the coin now, I dare say its over. Type #4: "ignorant" people who haven't heard of BTC yet, are completely non-existent now. Superbowl commercials, Cable News, Facebook ads, and more have ensured that everyone has heard of this by now.

usrn 4y ago
You've done that thing where you think the Anglosphere is the whole world when it's really something like 10%. There's plenty of room for growth.
- dragontamer 4y ago
  Care to tell me where in the world you think BTC has a chance? El Salvador? Hong Kong with Three Arrow's Capital collapse? Russia with its collapsing economy? I admit I'm ignorant about many parts of the world. But the parts of the world that "matter" with regards to propping up the price of BTC, are the parts that have money. That narrows the list significantly. * In Asia, there's China, Singapore, Japan, Philippines and a few others. I'm watching anime make fun of Blockchain (Japan), Three Arrows Capital blow up in Hong Kong, and Axie Infinity completely screw over working class Filipinos. * Europe largely knows English and are just adjacent to the Anglosphere. (I'd expect the French and Germans etc. etc. to know about this whole crypto-nonsense by now as well) -------- I guess I'm ignorant about India and some other corners of the world (and Indians know a lot about English anyway and would be adjacent). Who in the world do you think can be brought into this cryptocoin nonsense now? Where can the cryptocoin world find "new converts", who have enough money to make a difference?
  - Geee 4y ago
    It's about understanding bitcoin. As long as more people understand it, more people will buy it. I've never seen anyone who understands bitcoin, but doesn't buy it. Especially in bear markets, people will focus more on learning what's it about, rather than speculating on the price. All the 'crypto' stuff can go. This is the opposite. When people understand them, they'll sell.
    - dgfitz 4y ago
      I suppose you haven’t seen me per se, but I understand Bitcoin and the closest I’ve gotten to buying it was BITO puts 2 weeks ago.

ls15 4y ago

> A bit tired of these “Bitcoin is dead” articles. They almost never adds anything to the discussion. They surely add to the list: https://99bitcoins.com/bitcoin-obituaries/ https://99bitcoins.com/bitcoin-obituaries/

stiltzkin 4y ago