maomao
普費斯
Eh?North Korean nuke news now qualifies as crypto news.
Eh?North Korean nuke news now qualifies as crypto news.
Because a third of North Korea's missile programme is paid for by crypto theft. I mentioned it upthread
The largest non-investment related use of btc is buying drugs. Is this now the place for pill reviews?Because a third of North Korea's missile programme is paid for by crypto theft. I mentioned it upthread
The largest non-investment related use of btc is buying drugs. Is this now the place for pill reviews?
Before crypto corruption was, by revenue, the tenth biggest industry in the world.
hostile take over by disneyWhere is it now?
I like this guy:File under ‘not a fan’
Stephen Diehl: Crypto is the ‘commoditisation of populist anger, gambling and crime’
The software engineer has denounced crypto assets as vehicles for pure speculation. But his views have made him a target of harassment — including death threatswww.ft.com
Good article. Although I would say that. It reads like a summary of the arguments put forward on this thread.File under ‘not a fan’
Stephen Diehl: Crypto is the ‘commoditisation of populist anger, gambling and crime’
The software engineer has denounced crypto assets as vehicles for pure speculation. But his views have made him a target of harassment — including death threatswww.ft.com
aka GodI like this guy:
“After 14 years, it is still a solution in search of a problem. It’s not building a new financial system. It’s not building a new internet. It’s not an asset uncorrelated with the market. It’s not a hedge against inflation. It is a vehicle for pure, naked speculation detached from anything in the economy. It’s a casino that’s wrapped in all of these lies. When you tear back those lies, what’s left looks like a net negative for the world.”
Hear, hear.
Good article. Although I would say that. It reads like a summary of the arguments put forward on this thread.
I like the Tesco line. Good one to use. Bitcoin processes transactions at a speed 'roughly enough to run a small Tesco’s'.
I hope not. I think there are more shocks to come, specifically when Tether fails. This does look different this time, but I'm also not going to make any firm predictions. I won't see this as a proper crash until the miners are pulling out en masse. That's still not happened. Oddly, mining has gone up this year as the price of btc has declined. I don't see how that can continue.I suspect that the price of bitcoin will, at some point, boom again. Makes no sense to me, but I've thought it was dead in the water plenty of times in the past.
I suspect that the price of bitcoin will, at some point, boom again. Makes no sense to me, but I've thought it was dead in the water plenty of times in the past - and I've always been wrong.
Yep. One of the central planks of 'Line Goes Up' was that it never goes back to below the high point of the previous boom. That has now happened. Lots of bullshit was invented explaining how it couldn't happen. They'll have to invent some new bullshit to cover that.Well maybe. There's a lot of people with a lot of money and a lot of vested interests hoping that it will.
It's not just some random thing that happens. The only way it booms is to suck in more money from new investors - either through mass adoption by small investors or the really big money from the much smaller number of really big players. And a lot of those on both sides have now been burnt by the collapse over the last year and have seen a lot of the dodgy stuff that's linked in with it. That wasn't the case, at least not to anywhere like the same degree, when it peaked before. And if by boom you mean well above the previous peak (I know you didn't say that but it's been the hype model) you need way more money than was involved before to come in. It can't keep going forever.
So will it go out with a bang or a whimper? I need to plan my schadenfreude activities accordingly.
A million dollars per coin would make Bitcoin as a whole worth as much as the entire output of the US for an entire year. I have no idea where the money is supposed to be coming from to sustain that. The notion of a coin being valued at a million dollars is purely based on extrapolating an exponential curve, which is really no way to go about projecting anything. The real world has physical limits.The 'believers' cite a bitcoin price of around a million USD per coin. Obviously, people don't need to buy whole coins to ride the wave. There would have to be new investment, but all it would take is another big round of tech-bro pumping and it might happen.
I am very much in the 'it is absurd' camp, but I remember when bitcoin went from 30 to 300 dollars - and that looked crazy.
But, like I said, I am always wrong about these things...
The real world has physical limits.
I couldnt have said it better myself!!Like God, bitcoin isn't constrained by your so-called "real world physical limits". It will rise in value whenever the Blockchain Spirit wills it to, and only when the Time is Right for it to do so, and that's what you small-minded petty pis-stakers will never understand.
There is no “value” outside of what humans do. “Value” is a human construct. Animals don’t place value on things. Plants don’t place value on things. They just experience the world directly. Humans experience it mediated through symbols, including the powerful symbol of money..Value right now is measured in dollars, people who want to capture value think in dollars, people who want to build value dont and they want to keep the value within the crypto system..
Just read this. Seems fairly sensible analysis:
Crypto Was Meant To Be Radical, But It’s Been Taken Over By Wall Street | Novara Media
Decentralised currencies were intended to circumvent traditional financial markets – instead they’re mirroring them. Why?novaramedia.com