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Comment by overcast | Hacker News Reader

Any mention of Bitcoin or cryptocurrency investing should be banned on HN.

Uh no? I think it’s better to have open and free discussions.

Arguable, I'd put in a $10,000 into it if I had the cash to spare. It's made me decent money.

Yeh sure, made me lots years ago, also cost magnitudes more their life savings. It doesn't sound like OP is looking for gambling.

I agree that Bitcoin isn’t a smart investment due to volatility. However would someone be similarly criticized for suggesting someone start or work for a startup? To me they have a similar risk profile.

Not really, as far as four months ago, Bitcoin was at 8k per coin... today it's around 11k per coin, it's about 30ish percent profit.

Edit: Unless you bought 11k+ and sold below that point, there's no chance you lost on Bitcoin.

So? You could have dumped money into ANY of the big tech four months ago and been up WAY more than 30%. The S&P500 index alone is up more than 30% since the crash.

Bitcoin peaked at 20k in December of 2017, and dropped to $3100 exactly a year later. Seems like anyone investing at the top, and there were LOTS of inexperienced mom and pops doing so, are down at minimum 50%. Without any type of dividends or stock in a real company.

Do you actually think there was a lot of volume for Bitcoin at 20k? A handful of people even bought Bitcoin at the 20k level. It was only trading at prices that high for a few hours

Yes I do. Significantly more so than the weeks/years since. There was weeks and weeks of heavy volume, as it declined to $3000. If you bought over $10k, you've had money tied up doing nothing for 2.5 years in nonsense. Prices don't go parabolic like that unless dumb money gets involved, and subsequently wiped out.

https://www.tradingview.com/x/73konLcD/

your chart has a couple candles, but doesn't address my point that very little volume was transacted at 20k. People aren't going to stop storing value on the Bitcoin network, so I suggest you lighten up

Not really, you can double your money at the casino too, doesn’t mean it’s not gambling.

It’s the risk and volatility that separate investment from gambling, not the return. Bitcoin is firmly in the latter territory.

Continue to ignore the best investment of the last decade? Good idea.

you support censoring technology topics on a technology forum?

Yes, when it's nothing more than a bunch of shills potentially convincing the naive into buying into their pyramid scheme.

have you read the whitepaper? Bitcoin solved doublespending and is the best implementation of digital cash in a long line of innovation. in a way all monies are pyramid schemes. You don't think maybe you're being naive for dismissing a clear breakthrough?

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