this post was submitted on 10 Jun 2026
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It will... (lemmy.zip)
submitted 4 days ago* (last edited 4 days ago) by Homo_Erectus@lemmy.zip to c/lemmyshitpost@lemmy.world
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[–] NateNate60@lemmy.world 53 points 4 days ago (5 children)

I like to compare the Bitcoin price chart to the stats on a roulette wheel. You can't really predict what causes it to go one way or the other, but you do know that it will eventually go back.

I mean, Bitcoin is the one thing that just won't die. Every time its price collapses, people declare it dead, but a few years later it somehow comes roaring back. If you think Bitcoin is worthless just because it has no utility and no person smarter than a chimpanzee would invest in it, by God you are overestimating the intelligence of finance and crypto bros.

[–] Lemmyoutofhere@lemmy.ca 30 points 4 days ago (2 children)

Because it is nothing more than gambling.

[–] Homo_Erectus@lemmy.zip 18 points 4 days ago (1 children)
[–] NateNate60@lemmy.world 14 points 4 days ago

and sactions evasion

[–] NateNate60@lemmy.world 4 points 4 days ago (1 children)

Thank you for repeating the same thing that I said

[–] Lemmyoutofhere@lemmy.ca 10 points 4 days ago* (last edited 4 days ago)

Think of it as an executive summary.

[–] boboliosisjones@feddit.nu 9 points 4 days ago (1 children)

I think the reason has little to do with investors and more to do the bitcoin being the backbone of the online black market.

[–] Knock_Knock_Lemmy_In@lemmy.world 4 points 3 days ago (2 children)

The online black market shifted to monero ever since the "Dreaded Pirate Roberts" was identified and arrested via his bitcoin accounts.

Dodgy people may hold bitcoin, but the don't use it for illicit transactions.

[–] welfare_wizard@lemmy.zip 5 points 3 days ago

No, btc is still often used for transactions between buyers and sellers before they convert it to monero, and most exhanges don't sell monero so people usually buy btc and have it converted at a different site.

[–] boboliosisjones@feddit.nu 1 points 3 days ago

That may be true for a few markeplaces, but zero of the ones I have seen. All BTC.

[–] Mubelotix@jlai.lu 5 points 4 days ago (2 children)

You actually can, because it behaves in 4 year cycles. Bitcoin ATH have been in August 2017, 2021 and 2025, and dips have been in December 2018, 2022 and 2026. This why people are selling right now, everyone knows this which makes it self-fulfilling

[–] PeriodicallyPedantic@lemmy.ca 3 points 3 days ago (1 children)

You're acting like you could predict this year based on 2 data points.

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[–] boonhet@sopuli.xyz 2 points 3 days ago (1 children)

Why 4 though? How do we know it'll repeat?

That's how often the block rewards halve, reducing the supply of new coins creating a predictable price increase.

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[–] OriginEnergySux@lemmy.world 29 points 4 days ago (1 children)

Me watching my lithium stocks get fucking smashed at the moment

[–] Allero@lemmy.today 7 points 3 days ago

Yay cheaper lithium

[–] PeriodicallyPedantic@lemmy.ca 6 points 3 days ago* (last edited 3 days ago) (1 children)

I completely misunderstood this image.

I thought the gorilla was actually a dog-man without a head, and the gorilla arms were ears attached directly to the neck, and the gorilla legs are arms, and instead of being on the table, the headless dogman was taking a selfie from above the OR, and while wearing corded earphones.

I can't explain how I got there.

[–] janewaydidnothingwrong@lemmy.world 13 points 4 days ago (3 children)

Why are the electrodes attached to his nipples 🤔

[–] Homo_Erectus@lemmy.zip 20 points 4 days ago* (last edited 4 days ago) (1 children)
[–] SolacefromSilence@fedia.io 7 points 4 days ago (1 children)

Are you a Stanford scientist?

[–] Homo_Erectus@lemmy.zip 3 points 4 days ago

No. I stand-for sciencist

[–] Imgonnatrythis@sh.itjust.works 4 points 4 days ago (1 children)

Where would you put them monkey genius?

my ignorance is exposed 😖

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[–] BlackLaZoR@lemmy.world 3 points 3 days ago
[–] whoisearth@lemmy.ca 4 points 3 days ago (2 children)

I love that there's a large section of nerds who think that magic beans are worth buying.

Here I am working slow and steady accumulating tangible wealth.

[–] prole@sh.itjust.works 9 points 3 days ago (1 children)

Everyone seems to forget that the magic beans in Jack and the Beanstalk worked. They did exactly what they were supposed to do, and not really a bad purchase at all given the shit he went on to loot from that giant

Magic beans get you golden egg laying geese.

[–] anon_8675309@lemmy.world 3 points 3 days ago (2 children)

Compound interest and time.

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[–] Town@lemmy.zip 7 points 4 days ago (1 children)

It's only down 50% in the past year

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[–] Speculater@lemmy.world 5 points 4 days ago (6 children)

I can't wait for BTC to go the way of NFC.

[–] MagicPterodactyl@lemmy.ml 19 points 4 days ago (3 children)

I hope you mean NFT because NFC is pretty useful

[–] Speculater@lemmy.world 5 points 4 days ago

I 100% meant NFT, lol.

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[–] Not_mikey@lemmy.dbzer0.com 6 points 4 days ago

NFC

Accepted as a method of payment nearly everywhere these days?

[–] Allero@lemmy.today 4 points 4 days ago* (last edited 4 days ago) (1 children)

Eh, both have their utility, just not whatever crypto bros made of it.

I use crypto to pay for things abroad, like a decent VPN, from a heavily sanctioned authoritarian shithole. And NFTs can be useful not as a speculative asset, but as a blockchain-verified decentralized token. In this capacity, both are still completely relevant.

You use crypto to pay for things, not BTC.

The vested interests controlling bitcoin (the miners and asic manufacturers) refuse to update the technology for modern usage.

[–] prole@sh.itjust.works 3 points 3 days ago

It's like the worst of all the cryptos. It's only the most popular because it was the first

[–] big_slap@lemmy.world 4 points 4 days ago

?? I use nfc every day, wym

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[–] null@piefed.nullspace.lol 4 points 4 days ago (1 children)

If you bought bitcoin and held it for a minimum of 5 years, it's worth more than you paid for it.

[–] Allero@lemmy.today 5 points 3 days ago

And unless you bought during all-time-highs, it's worth WAY more.

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