What the hell is (a) bitcoin?

[ZigZagCardsFan]

[sighyoung]

[ghostrunner]

This should end well:

[go birds]

That's hilarious. I got a bunch of Litecoin at $51 a little over a month ago and now its sitting at $331.



It's so weird because this whole craze just recently hit a fever pitch, like literally over the past month, like right after i bought in.

Did i start the feeding frenzy?????????????

[cardinalkarp]

Bitcoin bit the big one today....down 30%

...along w/ all the other online currencies

[Schlich]

Did it though? The price looks pretty normal right now. I have a lot of I told you so's on my facebook feed but I don't really see the receipts.

[go birds]

HODLing

[Michael]

Did it though? The price looks pretty normal right now. I have a lot of I told you so's on my facebook feed but I don't really see the receipts.

It peaked to almost 20k this week. It's trading around 14.2k right now. It was trading under 12k earlier today so it has recovered some. These types of swings aren't uncommon for bitcoin.

Personally, I stay away from cryptocurrency. I think there is a use for it and a market, but what's happening right now feels like gambling to me.

[Schlich]

Did it though? The price looks pretty normal right now. I have a lot of I told you so's on my facebook feed but I don't really see the receipts.

It peaked to almost 20k this week. It's trading around 14.2k right now. It was trading under 12k earlier today so it has recovered some. These types of swings aren't uncommon for bitcoin.

Personally, I stay away from cryptocurrency. I think there is a use for it and a market, but what's happening right now feels like gambling to me.

Theres definitely a huge gambling element right now that is probably inflating the price a bit, but I think a lot of naysayers are expecting a bubble pop when I think the depreciation of BTC will probably be more gradual. I don't know anything about anything though.

[Arthur Dent]

Did it though? The price looks pretty normal right now. I have a lot of I told you so's on my facebook feed but I don't really see the receipts.

It peaked to almost 20k this week. It's trading around 14.2k right now. It was trading under 12k earlier today so it has recovered some. These types of swings aren't uncommon for bitcoin.

Personally, I stay away from cryptocurrency. I think there is a use for it and a market, but what's happening right now feels like gambling to me.

What's the actual use for it? Even if this crash is abortive, the routine high level volatility makes it comically bad at its supposed function as an alternative currency. Not to mention the transactions fees that are currently running at over $50.

Is there any value to it other than as a get rich quick scheme centered around not being the last sucker holding the bag? Shady transactions where the potential secrecy may outweigh the large costs associated with using it?

I can imagine that blockchain as a technology can have some uses, but BTC as a currency is a joke.