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Comment by phaed | Hacker News Reader

Bitcoin is in a 100 year bubble. Happy? Taking about misleading people, yet here you are trying to convince people it's a bubble. If you're so sure why not short Bitcoin? I dare you.

I believe in Crypto, I believe it has a future and its need in this world. If you don't that's ok, stay in the side lines getting grumpier and grumpier as time passes.

Cryptocurrencies are not mutually exclusive, this is not Highlander, there can be more than one. Look at Ethereum, already at half the market cap of Bitcoin and it hasn't affected Bitcoin's price in the least. What Bitcoin has over the others is wide adoption and mind-share. Smart money will diversify regardless.

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I am not grumpy but your talking points are based on an ignorance of history many people share.

I genuinely do not care if I convince you. I just don't want people to buy into people like you like they did with people who promoted the past couple of bubbles as sure things.

I understand you are a true believer and nothing I say will convince you.

As far as shorting Bitcoin? I don't expect it to implode in the next 3-6 months.

If you don't expect something to drop substantially in the next 90 days, shorting is a terrible idea.

I am not sure why I should buy a lottery ticket when I can reliably make substantial returns in other markets.

Bitcoin is ultimately intended to facilitate transactions and other crypto currency does it better.

>If you're so sure why not short Bitcoin? I dare you. >I believe in Crypto, I believe it has a future and its need in this world.

What do you make of people who fall into both categories? I use bitcoin as part of my payment processor in some cases and in that way I recognise its use as store of value (if only transiently). However, I also recognise that there is a market for the token that we call bitcoin, with a wide variety of people willing to buy and sell them in reasonable volume at a (very) dynamic price for my use case.

Why do you seem to propose that bitcoin does not behave as other assets that can be described in the same way?

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