Wikileaks makes 50000% return on Bitcoin | Hacker News Reader

Wikileaks makes 50000% return on Bitcoin

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18 pointsrakkhi13 comments

Dear world, please stop using percent with values > 200. 500x return is much clearer than 500000%, or however many zeroes the headline has. Thanks.

It would be nice if we didn't quote tweets as news, also.

At every new high, I am advising people who own Bitcoins to sell it because the crash is inexorable and its better to exit with a handsome return but Bitcoin surprises me time and again. It crashes but bounces back soon enough. I wonder what will be the point when people realise that thousands of dollars for what is essentially a reward for finding a meaningless number just doesn't make sense.

I understand why they do it. Cows do what the cows around them do. How can you warn a cow not be a cow, is what I don't understand?

This is a pretty ridiculous way to look at it. Bitcoin holds value for a lot of obvious reasons.

Those reasons being...?

That it holds value. Why does cash hold value? Because it has value. Just like Bitcoin

Fiat currency holds value because (among other reasons):

1. It's used by a sovereign government as a means of receiving tax payments.

2. It's a common medium of exchange for products and services.

Neither of these things is true of Bitcoin.

I invite you to try again!

If I would have listened to people who ,,advise me'x financially without taking risk himself, I would be broke.

If you're so sure of your knowledge about the crash, you can short Bitcoin, and start advising selling it _after_ you are in a short position (and make a lot of money at the same time)

Some context:

- Last traditional donation account frozen Dec 2010

- Started accepting Bitcoin Jun 2011

Address history: https://www.blocktrail.com/BTC/address/1HB5XMLmzFVj8ALj6mfBs...

That site blocks me because I use a VPN.

https://blockchain.info/address/1HB5XMLmzFVj8ALj6mfBsbifRoD4...

4,024.99113737 BTC

4024 x 5628 = $22,647,072

How much coin did they hold?

5 million percent is meaningless to me unless its realized gains at this point.

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