News for hackers. Stuff that matters.
Re:Crypocurrencies crash by Finnucane on Monday August 13, 2018 @10:45PM (#17755236)
It’s all relative, isn’t it? Since tokens have no utility or intrinsic value, or economic connection to any other thing, then they are almost pure expressions of commodity pricing: at any given moments, they are worth exactly what someone is willing to pay for them, no more or less. They just blow around according to the fleeting whims of the market.
Re:Crypocurrencies crash by shit-show on Tuesday August 14, 2018 @12:51AM (#17755663)
Yup I came here to say this. Institutional investors are realizing this and some firm is shorting the shit out of this market: https://news.ycombinator.com/item?id=17755028