Bitcoin value tumbles almost 50% since record November

Re:Bitcoin value tumbles almost 50% since record November by sgt101 on Monday January 24, 2022 @12:54PM (#30061229)

Real conversation about crypto - with my hairdresser.

Him : "NFT's are going to revolutionize the art market"

Me : "I don't know much about that, I just laugh whenever one of those bored monkeys gets right clicked and they all go mad about it".

Him : "What do you mean"

Me : "Someone copies the jpeg and uses it and they can't stop them"

Him : "nahhh you can't steal them"

Me : "It's only the meta data that's on a blockchain"

Him : "I have a question, right"

Me : "I dunno"

Him : "But do you know what a blockchain really is?"

Me : "Ahh, well, ahh... yes, I think I do, I'm a bit hazy on some of the maths, but errrm yeah"

Him : "I don't, noone can ever explain it, but everyone seems to want to buy into it so ...."

So - it's not evidence but still I think that almost all investors in crypto have little to no idea of what they are investing in. This is not good.

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Re:Bitcoin value tumbles almost 50% since record November by fho on Monday January 24, 2022 @04:29PM (#30064318)

"So ... the blockchain is basically just a linked list with each item holding a cryptographically signed copy of the content of the previous item. Each item additionally holds a collection of transactions that happened in the last ten minutes. That way everybody is able to check if somebody who claims to own something really owns the item/coin/NFT of interest."

Honestly ... your hairdresser will have doubts that you are not messing with him.

[ Parent | on HN ]

Re:Bitcoin value tumbles almost 50% since record November by sgt101 on Monday January 24, 2022 @05:54PM (#30065249)

I think my explanation was not as good as your one, and yes, he thinks I'm messing.

[ Parent | on HN ]