←back to thread

I wasted years of my life in crypto

(twitter.com)
681 points Anon84 | 5 comments | 07 Dec 25 12:57 UTC | HN request time: 0.225s | source
Show context
spicyusername ◴[07 Dec 25 13:28 UTC] No.46181533[source]▶
I've never understood the initial arguments about Bitcoin, no matter how many times they've been explained to me.

The block chain is, and always was, an extremely inconvenient database. How anyone, especially many intelligent people, thought it was realistic to graft a currency on top of such a unwieldy piece of technology is beyond me. Maybe it goes to show how few people understand economics and anthropology and how dunning-krueger can happen to anyone.

Now the uninformed gambling on futuristic sounding hokum? THAT is easy to understand.

That being said, I'm sorry the author had to go through this experience, the road of life is often filled with unexpected twists and turns.

replies(48): >>46181550 #>>46181552 #>>46181565 #>>46181570 #>>46181587 #>>46181592 #>>46181595 #>>46181598 #>>46181626 #>>46181627 #>>46181644 #>>46181650 #>>46181665 #>>46181684 #>>46181692 #>>46181705 #>>46181710 #>>46181747 #>>46181851 #>>46182086 #>>46182181 #>>46183207 #>>46183326 #>>46184155 #>>46188845 #>>46188916 #>>46189281 #>>46189390 #>>46189635 #>>46189752 #>>46190184 #>>46190277 #>>46190352 #>>46190438 #>>46190551 #>>46190980 #>>46192357 #>>46192629 #>>46192718 #>>46192829 #>>46193037 #>>46193082 #>>46193531 #>>46193609 #>>46194845 #>>46194934 #>>46195115 #>>46203155 #
1. koonsolo ◴[07 Dec 25 17:09 UTC] No.46183207[source]▶
So the bitcoin market cap is currently at $1.8 trillion.

You can compare that to USD M0 which is $5 trillion or EUR M0 which is around €4 trillion.

Not bad for an "extremely inconvenient database".

replies(3): >>46188376 #>>46188659 #>>46189554 #
2. petesergeant ◴[08 Dec 25 04:38 UTC] No.46188376[source]▶
South Sea Company at its height was worth almost 3x British GDP. Not bad for a company "with negligible business activities"!
replies(1): >>46189329 #
3. stephen_g ◴[08 Dec 25 05:19 UTC] No.46188659[source]▶
Market cap is pretty hypothetical though - if somebody actually tried to liquidate $50bn of bitcoin into fiat money you'd probably send the BTC price to about zero...
4. koonsolo ◴[08 Dec 25 07:14 UTC] No.46189329[source]▶
We've been hearing the story for years already that the Bitcoin value will go to zero.
5. baq ◴[08 Dec 25 07:51 UTC] No.46189554[source]▶
Slippage yo. Market cap means jack shit if the true order book is thin like a slice of carpaccio.