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by w4yai4 days ago |
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upvoteby WarmWash4 days ago|
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The problem with bitcoin is that the only real evidence of it's success is it's price has gone up.

It's very reminiscent of stocks that rocket 500% in a year, while almost nothing in the underlying company changed.

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upvoteby burkaman4 days ago|
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Many of these quotes are technical or social critiques of Bitcoin, not claims that it is "dead". Here's one for example: https://bitcoindeaths.com/posts/2023-10-26-every-single-bitc.... It is dishonest to frame this as a disproven claim just because the price has gone up since the quote. The truth of this claim has nothing to do with the success or failure of Bitcoin.

A couple other examples: https://bitcoindeaths.com/posts/2019-02-07-bitcoin-inefficie..., https://bitcoindeaths.com/posts/2024-11-20-nobel-prize-winni.... This bothers me, you can't respond to a genuine critique with "but look how much money I've made!"

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upvoteby sjbzbeiks4 days ago|
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yeah I mean it just depends on time horizons, if you bought at 117k you are hurting now if you need the money ASAP.

Also, I gotta say I do not think Bitcoin is a bubble or whatever (IMO a real value there), but really this sort of site makes it seem like it is a bubble with the sort of "blind to history" boosterism.

Go read Reminiscences of a Stock Operator, or Market Wizards series, Extraordinary Popular Delusions and the Madness of Crowds, or any number of books about financial history and there are endless people saying 'it will never die and all the doubters are just wrong' before any big market crash.

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upvoteby benrutter4 days ago|
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> Also, I gotta say I do not think Bitcoin is a bubble or whatever (IMO a real value there)

It's worth saying something with real value can still have a bubble - both bicycles and the internet were huge market bubbles at one time, but they're also undeniably valuable.

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upvoteby eru4 days ago|
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To play Devil's advocate:

Let's assume bitcoin has a tiny but positive probability of running the world economy in, say, 50 years. Ie bitcoin is a lottery ticket.

The fair value for a lottery ticket is some positive number. In 99.99..% of cases, the ticket will expire worthless. (In 0.00..1% of cases it will be worth quadrillions.)

The fair value of a lottery ticket is not a bubble, even if most lottery tickets expire worthless.

---

Now, of course, it's still possible to overpay for lottery tickets. Eg if you buy an actual lottery ticket in retail, the whole transaction usually loses you at least 50 cents on the dollar for lottery taxes alone.

But that's a separate issue.

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upvoteby maxerickson4 days ago|
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You argument is that it could have some long term value, which is different than a lottery ticket (which has a calculable minimum expected value at time of purchase).
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upvoteby eru4 days ago|
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Slightly more abstract: my argument is that assets with a very skewed probability distribution of future value will have a positive current value, even if in the vast majority of cases, they'll be worthless in the future.

Lottery tickets were only an example.

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upvoteby imjonse4 days ago|
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to be fair the majority of the statements that site mocks are not about bitcoin being dead but being a ponzi scheme, evil, hard to use by normal people, silly, a risky investment etc.

All are criticism that can be evaluated on their own but it's irrelevant how much bitcoin grew since they were made.

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upvoteby pluc4 days ago|
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what is dead may never die
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upvoteby HughParry4 days ago|
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but rises again, harder and stronger
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upvoteby suddenlybananas4 days ago|
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The log scale is awfully misleading, especially since money doesn't really work like that.
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upvoteby cannonpalms4 days ago|
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Anything but a log scale would be misleading. When showing long term growth of something that has grown so drastically, it is imperative to use a log scale so that 10% gains look consistent over time. Especially in finance.
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upvoteby john_strinlai4 days ago|
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you can press the "linear" button if you'd like.

but i think the primary point of the comment was to highlight the "Bitcoin has been declared dead 478 times" part

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upvoteby AIiscoming4 days ago|
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I hate this side.

The first quote i got was "Bitcoin is evil" and then the subtitle "bitcoin worth now 10000%"

Bitcoin is still evil and it has very much to do with the value of bitcoin.

This page is ignorant and shit :(

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