I thought you had some since then.
Actually nvm, so did I and I’m still like Tear Emoji because I didn’t go close to full:
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Damn Bitcoin at $8 billion market cap and a shit load of people at the time including myself were like why the fuck is this thing $500 lol
That 550 was on the upswong not the down, but the bulliest of bulls were like OMG BItcoin could go over ONE THOUSAND DOLLARS in 2017 and Ethereum might even hit ONE HUNDRED. I was like YOUVE CONVINCED ME SIR and when selling 3 of my 4 Ethereums for 250 after buying them for 13 I felt like the smartest mf around town.
For playing poker online it was like you always had some bitcoin but it was always a question of how much you keep.
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I’ve thought about this a lot recently, wondering what was the precise ideal time to get into crypto in order to not be shook. In hindsight it was probably coincidentally right around 5 years ago. Any earlier and you would remember the crashes and bear markets from before if not experienced them.
Late 2013-early 2015 is a blip on the full graph but up close it’s an absolute horrorshow:
Lol at people saying they would’ve shoved their kids’ and their dog’s and their dog’s kids college funds on that, if only they knew about it, the OK-this-might-dribble-to-zero graph.
The justification for Bitcoin as a thing is if anything worse than it was back then, I guess with the exception of some cautious institutional adoption. Abundantly clear to everyone by now that it isn’t a currency, so then the justification switched to “yeah dog but it’s a store of value”. Apparently the kind of store of value that just got cut in half and could easily go down near zero. With gold it’s considered a mammoth crash if it declines 25% and it’s obviously never going to zero.
This is all regarding BTC specifically rather than crypto writ large and as I said, I hold a substantial amount of BTC, because I’m betting on people being insane and so far haven’t been disappointed. The problem with previous bubbles like the tulip bubble is that the central commodity had well-defined uses that were manifestly insufficient to sustain the value. BTC borrows a page from religion’s book, you don’t want something to actually exist, you want to promise that it will exist at some unspecified future point. The Storm is coming and Jesus is returning and one day Bitcoin will be useful for something other than speculation, just not today. Or tomorrow.
Or maybe it will succeed in spite of its deficiencies, who knows. There’s a somewhat famous essay in computer science titled “The Rise of Worse is Better”, which basically argues that in circumstances with network effects, something that is bad but simple to implement is better and more successful than something that is good but complicated. Thus imperative languages like C succeeded over functional languages like Lisp, even though a functional approach is ultimately better (something that people are starting to realise now with the dominance of the functionally-oriented JavaScript and hybrid languages like C# adding more and more functional-programming features).
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the problem with thinking many those shitcoins are gonna go down in value is that BTC itself has to be down at that point for this to be the case. ie, if it’s up the shitcoins go up biglier but I guess that’s part of the point, he’d probably be up more than 30k anyway.
This is a weird phase of crypto, idk what coin is going to win in the end. Current favorite is whatever one elon ends up tweeting about.
I remember STEEM but maidsafecoin got to #8???
YOU HEARD IT HERE FIRST, BITCOIN IS GOING TO ZERO!!
roflmao
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someone asked cuban what crypto does better than anything else and his response was super ridic
https://twitter.com/mcuban/status/1400459822080819204
absolutely none of these are true, well unless it’s so you can so something illegal
Wtf is weather insurance?
If my beach day is ruined by rain on Saturday I get .3 weather coins
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I just looked at it. Is 1 quadrilion circulating correct?
which cost how much?
Congrats CUMMIES holders. Elon with the shoutout
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bahahahaha
see the bitcoin one though?
another 50% drop incoming
nah it looks like that’s the extent of it, unless the USA wake-and-panic kicks in
It’s kinda funny reading all the tweets of the people who don’t get how the Keynesian Beauty Contest works. Nobody is actually going, “Oh noez bitcoin is dead Daddy Elon said so!” They’re just assuming everybody else is gonna react that way.