Hacker News Reader

Comment by taspeotis | Hacker News Reader

It's down to ~480 so it's lost $100 in 30 minutes. Let's just say that my strange way of picking numbers can be described as "flattering" ... at worst.

View on HN

No, you should pick numbers on a daily average with an indication of the daily variation on the value if you want to be fair, not at a precise instant, because Bitcoin can have as much as 30% variation in a given day, so I too can make up numbers out of thin air by picking up a very biased time during the day.

It ended the day at $582 [1].

> because Bitcoin can have as much as 30% variation in a given day

Hence, "pretty fucked up".

[1] https://coinbase.com/charts

30% is either "f+++ed up" or a massive opportunity for daily trading, depending on your point of view. I see it rather as the second.

Today I've seen it back at 530 and now at 520. Who knows, I wouldn't be surprised if by EOB we're back above 600.

As parent said, with Bitcoin you have to look at things in a different way since it works in a very different way than anything else we've ever seen.

But does it really? It looks like rampant speculation to me. I've seen that many times in markets.

Have you seen before a functioning globally distributed ledger system being speculated on in the markets ?

Have you seen a <insert something that for some reason it will be different this time thing here> is generally a poor argument. But one speculators cling to and try to convince others of adamantly.

Reply on news.ycombinator.com