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A comment on Bitcoin drops below $18,300 as sell-off accelerates. Parent comment

Re:Bitcoin drops below $18,300 as sell-off accelerates by muglug on Saturday June 18, 2022 @03:43PM (#31793099)
I think the environmental argument is the easiest one to make against crypto, and the easiest one for crypto fans to discount (“proof of stake is coming in X months!!”).

More importantly, though, it’s mostly a way for already-rich people to extract money from poorer people.

The people who “invested” in 2021 are almost all under water today, and they’re largely people who couldn’t afford to lose their investment.

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Re:Bitcoin drops below $18,300 as sell-off accelerates by radu_floricica on Saturday June 18, 2022 @03:48PM (#31793145)
Most people who invested in a peak were "under water" a year later. That's what a peak means.
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