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Comment by viklove | Hacker News Reader

You’d have $10K now if you’d invested April’s stimulus in Bitcoin — and more with ETH

https://cointelegraph.com/news/you-d-have-10k-now-if-you-d-i...

edit: Yikes people really hate crypto around here. It's too bad HN doesn't like allowing people to talk to each other, I'm not allowed to respond for a few hours due to their rate limiting policies. Oh well. Wish I could delete my account in protest, but HN is so shit I can't even do that...

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> You’d have $10K now if you’d invested April’s stimulus in Bitcoin — and more with ETH

You could say the same thing about Gamestop stock. With hindsight, you could have invested in all kinds of stupid things and still have made money.

> With hindsight, you could have invested in all kinds of stupid things and still have made money.

Exactly, thanks for proving my point. It's stupid easy to make money by investing it right now so why are you telling people not to do it?

It's not proving anything. It's VERY hard to make the right picks. Easy in hindsight.

But you're invested crypto so it's profitable for you to push this narrative in order to keep building the pyramid and cash out. Love MLM/pyramid vibes coming out of the crypto investors, because that's what it is.

The only scam has been Wall St and the corporations that created a slave wage system out of an entire country.

It's an amazing spin, attempting to move away from the point of contention which you can't defend. This type of rhetoric hooks poor unhappy/angry people right in. All just so you can make some quick cash. Don't pretend that crypto will even attempt to solve any of those issues. It's yet another method to transfer wealth out of poor people's pockets.

Defend crypto? Dude the blockchain database is what's going to change things. The coins aren't the technological revolution happening. The storage of information and its reliability is what is important here. You're just mad because it's replacing your old ways which you cannot defend.

While there are many issues surrounding our banking industry, the way it manages currencies is far superior to how any of the crypto currencies work. Fraud prevention, fraud reversibility, low fees, transaction rate, simplicity. Reliability is fine as well, I don't get the issue?

Keeping transactions publicly in the blockchain is probably one of the worst things that could happen to privacy.

I've read Bitcoin's paper back in ~2011, played with it's implementation a bit, so I'm well aware of what the blockchain is. It does NOT solve anything meaningful, it's not nearly as special as layman make it out to be.

Once again you're using one coin to represent the entire industry. You don't understand the technology and how it will penetrate every sector of society. Bitcoin is the KittyHawk of aviation. Yah no one flies the original plane anymore but it started an industrial revolution. And you are very much wrong on your assumptions on our current international money moving system. The benefits will be tremendous and is very much in play, go ask the central banks of France or Japan. You're missing out on what is happening right in front of your eyes.

> You don't understand the technology and how it will penetrate every sector of society. Bitcoin is the KittyHawk of aviation. Yah no one flies the original plane anymore but it started an industrial revolution.

I feel like you're about five years late to the blockchain-will-change-everything bandwagon.

Also your chronology is all wrong. The industrial revolution started well before 1903.

Sounds like you were five years too early. And prepandemic I would agree with you. Today I can't.

I also said "an industrial revolution" and not "The Industrial Revolution". But I'm glad you could no longer argue the validity of crypto currencies and the implications of mass adoption and use.

You don't work in finance, blockchain can solve a lot just look at Amazon QLDB, looks like it can solve quite a bit. And now you just sound jealous and very regretful.

Founder of Nasdaq biggest ponzi scheme ever. Bitcoin biggest asset ever in the history of humans. The only thing else that comes close is gold.

Hindsight is easy, that's the point. But it doesn't help you make money.

No, it's stupid easy how easy it was to make money in the past when you look back and already know the outcome. That is absolutely not the same as saying that bitcoin will be a good investment if you buy today.

So no, tablespoon didn't prove your point whatsoever. You completely missed tablespoon's point.

>> With hindsight, you could have invested in all kinds of stupid things and still have made money.

> Exactly, thanks for proving my point. It's stupid easy to make money by investing it right now so why are you telling people not to do it?

I didn't prove your point, and if believe what you just wrote, I don't think you should be investing.

But you can prove me wrong by correctly telling me when the cryptocurrency bubble will burst. After all, it's not stupid easy to make money unless you sell at the right time.

And if you'd bet on Jim Herman winning the PGA Tour Wyndham Championship, you would have over $500,000!

High-risk propositions are so valuable when you remove the risk part!

If you had started weightlifting in April, you could be able to bench two plates by now.

Yeah but how much would you have if you’d bought GME call options?!?

Depends on when they expired, could be anywhere from $0 to $100k.

Talking about bets after the roulette wheel has stopped is not very interesting. Anyone can see after the fact that the ball stopped on red 12, or the price of something has increased.

So can you tell me what I should invest this new stimulus in to get 8x returns?

$1.4k isn't much to most HN users, so I would tell you to invest it in crypto if you don't own any yet. I'm not saying you should take out a mortgage to buy crypto, but if 2-10% of your portfolio isn't already crypto, then you should really fix that. The chance that ETH gets a 500% return from now until the end of the year is about 50%, in my opinion.

> The chance that ETH gets a 500% return from now until the end of the year is about 50%, in my opinion.

If I were a betting man, I would be willing to wager any amount you named that you are wrong. (Seriously, any amount up to my maximum ability to raise. If it were more than I were comfortable losing, I'd buy ETH for about 1/3 the dollar amount of the bet, and make money no matter what happened.)

https://ethereumprice.org/guides/article/how-to-short-ethere...

I am a betting man, and have a not-insignificant amount of money wagered on my position.

Put your money where your mouth is. Go take out a loan, and use the cash to short ETH. Otherwise it's obvious that you're just full of hot air and have no conviction.

There is a lot of room between shorting (betting it will go down) and betting that it will not go up by as much as 500% by the end of the year. I never said I thought it would go down.

But you're right. I lack the conviction to act on something that aren't actually my convictions.

Okay, then go take out a loan and sell some covered calls. You'll make money on the premiums. Why aren't you doing that?

HN has a hate-boner for everything crypto-related, which is surprising considering some of those same folks were probably crypto-anarchy idealists talking about the coming digital liberation at some point in their lives.

Many crypto-anarchy idealists consider the crypto price bubble a distraction that doesn't meaningfully advance their cause.

If you read the comments on any thread vaguely crypto-related, you'd come away thinking there is nothing positive or redeeming about the space.

80% of crypto is lambo-ing and 20% is basically scams.....

See? :)

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