Alex
14 HN mentions · mentioned in 13 months, 2017–2026
0:56 · 856K views · Jun 26, 2015
A one-minute joke video titled as a warning against buying Bitcoin, giving a humorous summary of price crashes. It has no description.
Posted as a recurring joke every time Bitcoin's price crashes or hits headlines.
14 comments from Hacker News
> What exactly does bitcoin offer the world today? I fully agree that Bitcoin did not become what it was originally built for (a currency system for the internet), and as a matter of fact, for very valid reasons: - custody is really hard, and damn near impossible for most people, including people who like to think of themselves techies and who all end up getting caught with their pants down when exchanges get hacked because they forgot the number one tenet of Bitcoin. Please repeat the mantra after me: Not Your Keys, Not Your coins. - the 10mn confirm thing is a pain for small, casual transactions - scalability (it won't and was never designed do what eg VISA can do in terms of TX/second) - most people are downright horrified when they realize the non-reversibility aspect - most people don't understand what money actually is and hot it works in the first place, so seeing the advantage of BTC is damn near impossible - etc... HOWEVER: that absolutely does not mean that Bitcoin isn't amazing and useful. Bitcoin has simply become something else entirely, a kind of financial instrument that had no equivalent up until now and which has turned out to be profoundly useful to a very large class of people (go ask USA - one of the country with the worse divorce laws on the planet - men in the middle of divorce proceeding for their opinion on the topic of assets that can't be confiscated). Oh and yes, I already hear the shouts from the back of the room: skirting the law!drug dealers! cri
Don't buy bitcoin, it always crashes. this video We'll be back here in four years when bitcoin is well above 100k being used happily as a store of value by millions of people and someone like you will say the exact same thing again. How long will it take you to realise that it's already a success?
OK, yes, that's a fair point. But it's not clear to me that pumping being taken away would be a bigger change than people trying to get out of USDT and buying BTC. Also we've been there (mtgox's willy etc). I don't think bitcoin will be much less volatile any time soon. this video
Bitcoin has been pretty stable around $6500 for the past month. And for six months has been way more stable than The Shitcoins (BTC has gone from 30% to 50+% of total market cap in that time). Humorous summary of price fluctuations since 2010: this video
> Bitcoin seems like a huge Ponzi scheme Can you please point out which previous ponzi scheme / bubble / tulip mania has gone through so many cyclic wave pattern and held up it's value despite all the crashes? "Bitcoin is going to crash" - this video