Fixed that for ya.
Only for people who can’t read histograms correctly.
BTC is vaporware, like the ultimate pyramid scam. The newbies pay up to the original buyers, forever and ever.
I maid vis four u.
You left out Bitcoins.
The upper limit (21M) on mining is going to create an interesting event, but we’ll both be dead (first and third graph)
The second graph here are in relation to all the lost/missing/stolen Bitcoins out there…3-4M of them.
Not to mention if Dr. Wright has 300-900K of them…fuck me, I should at least have invited him to lunch.
Why should such a thing be valuable? Or have value?
Because of shared delusion that it has value. As long as that delusion exists, people will trade, mine, etc. But, the current setup with Bitcoin, at least, is that it’s a limited supply. And, as Rabbit mentioned already, people “lose,” their wallets. So, it’s a race to zero. It has no intrinsic value, and someday, the supply will be exhausted.
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Think of the blockchain as a permanent, (virtually) unhackable ledger system in which each entry is recorded and added to the chain. Anything from medical records, to supply inventory, to voting can be used in a blockchain; even potentially the Internet itself.
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This story is one of the saddest.
This dude lost the password for his 7,000 Bitcoins, valued at $220M back in January when this was written…hovering around 35K per coin at the time, now at 55K because Elon Musk is fucking insane.
Rule of thumb, don’t put your bitcoins in anything that will autoerase after unsuccessful password attempts…Availability matters.
Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million.
Cry me a river…
The “Bitcoin is worthless/it’s a bubble/etc.” thing has been the chorus for 10 years now.
Meanwhile, the ultra-elite are buying in like gangbusters, so there’s a discrepancy between where people’s mouths are, and where they’re putting their money.
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So how does one get started in Crypto investing? That’s what I would love to hear about.
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The absolute easiest way is to open an account on Coinbase. Here’s a shameless affiliate link to that:
https://coinbase.com/join/fletch_jj
But before you put any serious money into it, read everything you can from multiple sources, and keep in mind that mainstream media outlets are usually hours or days behind the curve, which makes sifting good info from noise even more difficult.
Also there are a lot of pitfalls to watch out for, like pump and dumps. Beware of any and all hype.
Crypto is just another way for rich people to dodge taxes.
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Nah, the IRS has a handle on this now. That’s why major exchanges either created US-dedicated apps or backed out of the US entirely.
Binance is the perfect example; I still have over a grand stuck in their exchange.
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Narrator: " The IRS did not have a handle on this now."
And, like that (poof) he’s gone.
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This happens cyclically, to the extent that it’s a meme for anyone who actually knows about crypto.
It sounds like you’re rooting for it when what you should be doing is buying in.
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I’m happy to not engage in such volatility. But, yeah, buy low, sell high.