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Maybe HN should incorporate a price ticker? /s I appreciate that we get to look down upon the "fools" losing their shirt but there probably more appropriate pl

by eterm 4y ago

Maybe HN should incorporate a price ticker? /s I appreciate that we get to look down upon the "fools" losing their shirt but there probably more appropriate places to do so. Yes, we warned them. Yes, we told them that it was all greater fool theory, but remember it's usually the average punter who got in just before* peak hype that loses everything. And they don't really deserve it. Those who fooled them do, but they're often the ones offloading their bags to the next. * Just before because they're the ones who hit 60% gains and didn't sell, and risk chasing that high all the way down.

twiceaday 4y ago
Maybe these waves of new lows stories will counter-balance the fomo-harvesting 'new all time highs' that were suspiciously absolutely everywhere.
deleted 4y ago
[deleted]
radu_floricica 4y ago
I really really don't understand how anybody can look at a long term graph of bitcoin price and still think people were "tricked" into anything. It's... I don't know, I firmly believe there a lower limit of due diligence needed for something after which "tricking" just isn't a right word. You google "btc price" and you get a nice graph with all the info you need. They could be mistaken - or not. Right now odds are maybe 4:1 for each price peak to be surpassed in about three years. Even if it won't and it turns out to be a bad investment, the odds make it a pretty legitimate decision, right or wrong.
- jacquesm 4y ago
  So does that translate for you into "I'm buying BTC"?
  - radu_floricica 4y ago
    shrug I haven't touched the right/wrong part, and I did it on purpose. All I said is that it's a legitimate decision. When an Alzheimer grandma gets a call with a great business opportunity and loses all her savings, that's a scam. When somebody invests maybe too much in bitcoin because his gym buddy told him so, that's at worst a bad decision (or a great one, depending on when he did the investment).

by eterm 4y ago

twiceaday 4y ago

Maybe these waves of new lows stories will counter-balance the fomo-harvesting 'new all time highs' that were suspiciously absolutely everywhere.

deleted 4y ago

[deleted]

radu_floricica 4y ago

I really really don't understand how anybody can look at a long term graph of bitcoin price and still think people were "tricked" into anything. It's... I don't know, I firmly believe there a lower limit of due diligence needed for something after which "tricking" just isn't a right word. You google "btc price" and you get a nice graph with all the info you need. They could be mistaken - or not. Right now odds are maybe 4:1 for each price peak to be surpassed in about three years. Even if it won't and it turns out to be a bad investment, the odds make it a pretty legitimate decision, right or wrong.

jacquesm 4y ago
So does that translate for you into "I'm buying BTC"?
- radu_floricica 4y ago
  shrug I haven't touched the right/wrong part, and I did it on purpose. All I said is that it's a legitimate decision. When an Alzheimer grandma gets a call with a great business opportunity and loses all her savings, that's a scam. When somebody invests maybe too much in bitcoin because his gym buddy told him so, that's at worst a bad decision (or a great one, depending on when he did the investment).