4 ms·

The same reason stanley cups got super popular for a bit. Herd mentality and lack of regulation. This is kind of the main use case for crypto. Fear and Greed

jimberlage 3y ago
Oddly enough (as someone who feels lukewarm about crypto) isn’t this a really strong case for it sticking around long-term? Like, “crypto will go away as soon as humanity stops feeling fear or being greedy”? TBH, if anyone really wants to take the air out of crypto, they need to make an easily accessible, divisible, provable deflationary asset, that doesn’t require a lot of work to find or store (so not real estate, gold, guns, rare LEGO sets, etc.)
- deeviant 3y ago
  > Oddly enough (as someone who feels lukewarm about crypto) isn’t this a really strong case for it sticking around long-term? No. Fear and greed have motivated human investors since the dawn of investing, but saying that because this motivation is and likely ever will be omnipresent means that every individual thing this fear and greed have acted on will also be omnipresent is, off (Can I interest you in some Dutch Tunips, only 10k each?)
  - jimberlage 3y ago
    Did the Dutch Tulip craze also go through a graph like bitcoin? Where it dropped as everyone realized the craze and then went back to its highs? Bitcoin behaves more like a currency and less like tulips. I think the Fed not providing an easy API for a non-dollar token backed by gold is the real thing that keeps crypto around.
    - gitfan86 3y ago
      SPY is far less volatile than BTC and pays dividends. GLD is an ETF that tracks gold. BTC is for gambling.
  - latchkey 3y ago
    Are you seriously still comparing crypto to tulips (sic)? https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/ https://www.smithsonianmag.com/history/there-never-was-real-...
newswasboring 3y ago
What could regulation have done about stanley cups?

jimberlage 3y ago

Oddly enough (as someone who feels lukewarm about crypto) isn’t this a really strong case for it sticking around long-term? Like, “crypto will go away as soon as humanity stops feeling fear or being greedy”? TBH, if anyone really wants to take the air out of crypto, they need to make an easily accessible, divisible, provable deflationary asset, that doesn’t require a lot of work to find or store (so not real estate, gold, guns, rare LEGO sets, etc.)

deeviant 3y ago
> Oddly enough (as someone who feels lukewarm about crypto) isn’t this a really strong case for it sticking around long-term? No. Fear and greed have motivated human investors since the dawn of investing, but saying that because this motivation is and likely ever will be omnipresent means that every individual thing this fear and greed have acted on will also be omnipresent is, off (Can I interest you in some Dutch Tunips, only 10k each?)
- jimberlage 3y ago
  Did the Dutch Tulip craze also go through a graph like bitcoin? Where it dropped as everyone realized the craze and then went back to its highs? Bitcoin behaves more like a currency and less like tulips. I think the Fed not providing an easy API for a non-dollar token backed by gold is the real thing that keeps crypto around.
  - gitfan86 3y ago
    SPY is far less volatile than BTC and pays dividends. GLD is an ETF that tracks gold. BTC is for gambling.
- latchkey 3y ago
  Are you seriously still comparing crypto to tulips (sic)? https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/ https://www.smithsonianmag.com/history/there-never-was-real-...

newswasboring 3y ago

What could regulation have done about stanley cups?