Re:Ask HN: Why are you pro/anti Bitcoin?
by salamanderman on Wednesday May 19, 2021 @10:59AM
(#27209596)
I'm anti all of these alt-coin things. They're just beanie babies that use absurd amounts of resources. Their value comes from hype and limited availability. Why not buy and sell stock? That's basically another set of alt coins that's arguably based on more intrinsic value, doesn't burn energy like an inferno, and you can buy and sell without much risk of accidentally commiting tax fraud.
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Re:Ask HN: Why are you pro/anti Bitcoin?
by randomhodler84 on Wednesday May 19, 2021 @11:43AM
(#27210223)
If you are asking why not stock, you don’t get the point. You obviously have access to the US stock market, and have never had banks steal money from you, straight out of your account.
Yeah, I don’t like altcoins either. Stick to bitcoin. Hardest money ever.
Cryotocurrency is real investment in cutting-edge technology, not speculative games, for many investors.
See: Filecoin, Chainlink, etc
Re:Ask HN: Why are you pro/anti Bitcoin?
by SwanRonson on Wednesday May 19, 2021 @11:37AM
(#27210145)
Many are useful and cutting edge but many more are useless and outdated yet have a much higher dollar value. Bitcoin is a collector’s item, so is Doge. Most of the HN community understands blockchain well enough to know that the crypto market doesn’t make much sense from a technical standpoint.
I’d like to see the market settle and begin treating coins based on the tech behind them and the future value instead of gambling chips. I see the value in some but there’s no telling if the current market will recognize that before a better competitor arrives.
DOGE fundamentals as a p2p currency slaughter Bitcoin, they don't even shit in the same room, so not sure what the rest is.