jack's avatar
jack 1 year ago
for any news, the bitcoin price is the first market indication of how people feel about it. markets are emotional voting machines, and bitcoin is open 24/7.

Replies (65)

partof's avatar
partof 1 year ago
And yet, everyone will be talking about lasereyes for the next few hours
Bitcoin is savage 😎 been bootstrapping my startup with it for the past year. Although america doesn’t seem to care much for our focus which is education and ai for home learning 😂
I think this quick dip and spike was more a result of computer trading and not really emotion. They are programmed to sell on any "shock news" no matter the asset or content of the actual news itself (would have looked the same for the stock market had it been open). The quick recovery is then the opposite more rationale reaction as in "Meh,it doesn't really matter in the end " Doesn't change the fact that bitcoin is a 24/7 pulsemeter to the news though.
Joey B resigned because he wasnt invited to the Bitcoin Conference. The quick dip was him rage quitting his BTC stack.
 's avatar
1 year ago
Emotional and logical
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nobody 1 year ago
btc is just gold: a new advance crypto will be created soon by the next full moon
Doubtful. Bitcoin does its own thing and doesn't care about the news - otherwise we wouldn't have halving based cycles but news based cycles.
Phil's avatar
Phil 1 year ago
Very Keynesian of you.
no. everyone just keeps the coins and is in no hurry to part with them. 94% of all coins have already been issued. but there is still no exchange of coins for goods. when will this happen? What % of coins must be issued for Bitcoin to become a medium of exchange and unit of account? 21 million coins is not only an advantage, but also a curse for Bitcoin. this is a limitation that has turned Bitcoiners into gnomes within their closed sect. no one wants to spend. everyone is just accumulating. you keep talking about bad government. but the government is in no hurry to harm you. you are harming yourself. the government only follows Gresham's law. The main thing for him is not to go beyond reasonable inflation limits. nothing else. it watches our eyes sparkle and our drool flow as coins rise in value. and smiles slyly into his beard. dollars and bitcoin obey Gresham's law. Bitcoin will never become a unit of account and a medium of exchange as long as the government prints dollars.
Baz.'s avatar
Baz. 1 year ago
Prices are set at the margins. And a decent percentage of those at the margins react to news and hype 🤷
Lethal Lee's avatar
Lethal Lee 1 year ago
I just bought a rare book from a person across the world from me with Bitcoin.
Alex's avatar
Alex 1 year ago
I buy weed online with bitcoin. I’m sure you can find lots of things to buy with bitcoin if you do some looking. Most of these rancher accept bitcoin at beefinitiative.com
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Rand 1 year ago
progress is a process/ np here/ friction @ first to easyaction!
if by people you mean the hedgies that splash around in the very shallow pool that is bitcoin
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I remember November 4th, hmm, I wonder who won? Looked at the price, ah, good to know. Bitcoin is the truth machine, 24/7