It's an everdupe at this point, turning the front page into a bitcoin price tracker which is not particularly interesting
https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
This article itself doesn’t add much but having the ones with analysis pop up frequently seems valid. Very interesting to watch this in real time, as in 2008.
Ponzi doesn’t quite fit and my hope is some day crypto will be known as a Nakamoto Scheme.
It's not HN-valid on a daily, never mind hourly basis which is where we're at. That's just how the site functions and maintains its own interestingness, irrespective of the interestingness of any individual topic or article.
It’s called this in various places. See https://salbayat.org/the-strange-case-of-nakamotos-bitcoin/
The "market value" does not have any correlation to how much money was thrown into the pot.
Back in 2018 the estimate of the 2017 bubble that blew it up to $1T the first time was that there was $5B-$10B or so sent into the system.
This time was probably several tens of billion.
Do people actually know what cryptocurrencies are about or are those people someone who lost buying ATH or missed the boat seeing a friend become a millionaire?