News for hackers. Stuff that matters.

A comment on Sleeping beauty Bitcoin wallets wake up after 14 years to the tune of $2B. Parent comment

Re:Sleeping beauty Bitcoin wallets wake up after 14 years to... by FabHK on Saturday July 05, 2025 @02:40AM (#44470578)
According to your theory, all the thousands of shitcoins are valuable. But they're not.

There must be further reasons, then, that the price of Bitcoin is so high. And they're purely sentiment, I'd argue. If that changes, there's little to prevent the price from going down very far very fast. Unlike fiat.

[ Parent | on HN ]
Re:Sleeping beauty Bitcoin wallets wake up after 14 years to... by samdoesnothing on Saturday July 05, 2025 @07:08AM (#44471864)
No, according to their theory a coin can be valued for its intrinsic properties, not that it will be.
[ Parent | on HN ]
Re:Sleeping beauty Bitcoin wallets wake up after 14 years to... by nwienert on Saturday July 05, 2025 @04:51PM (#44475446)
I mean i mentioned its volatility has gone down.

People use stablecoins as well for the same reasons. Shitcoins are different.

[ Parent | on HN ]
Re:Sleeping beauty Bitcoin wallets wake up after 14 years to... by anothernewdude on Sunday July 06, 2025 @06:18AM (#44479416)
It's brand name value. The same reason there's one basic OS, one internet search, one social network, one VOD site. People can tolerate few names for things and tend towards the default as a safe choice.
[ Parent | on HN ]