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The Bitcoin craze is without a doubt one of the most insane things I've lived through. I feel badly for all the late arrivals who are (anecdotally) dipping int
by 3am 14y ago
The Bitcoin craze is without a doubt one of the most insane things I've lived through. I feel badly for all the late arrivals who are (anecdotally) dipping into long term savings and levering up to buy them.
The dynamic is identical to me between this, the NASDAQ at 5000, and the Case Schiller index just under 190. Maybe some economists out there are trying to be polite, but this is just nuts. Best regards to those involved, I hope I'm wrong for your sakes. But if I can convince _one single person_ on HN from wasting their savings on BC, then I'll feel like I've made a difference.
- oscilloscope 14y agoWeren't those both trillion dollar markets at the time? Bitcoin is tiny by comparison.
- SODaniel 14y agoWhile I agree to an extent, the current $2 billion market cap is far to small to compare with. When/if BTC reaches around $5,000 each ($50 billion or so market cap) I will agree.
- userulluipeste 14y agoWhat gives you the numbers you've written? I mean why $5000 and not orders of magnitude more or less? Also, if the currency trading means wealth transfer, just what will come to mean the dollar as currency if it's going to be 5000 for one BTC?