this post was submitted on 10 Jun 2026
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It will... (lemmy.zip)
submitted 3 weeks ago* (last edited 3 weeks ago) by Homo_Erectus@lemmy.zip to c/lemmyshitpost@lemmy.world
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[–] NateNate60@lemmy.world 62 points 3 weeks 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 32 points 3 weeks ago (2 children)

Because it is nothing more than gambling.

[–] Homo_Erectus@lemmy.zip 19 points 3 weeks ago (1 children)
[–] NateNate60@lemmy.world 15 points 3 weeks ago* (last edited 3 weeks ago)

and sanctions evasion

[–] NateNate60@lemmy.world 5 points 3 weeks ago (1 children)

Thank you for repeating the same thing that I said

[–] Lemmyoutofhere@lemmy.ca 13 points 3 weeks ago* (last edited 3 weeks ago)

Think of it as an executive summary.

[–] boboliosisjones@feddit.nu 12 points 3 weeks 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 3 points 3 weeks 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 weeks ago* (last edited 3 weeks ago)

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

[–] boboliosisjones@feddit.nu 2 points 3 weeks ago

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

[–] Mubelotix@jlai.lu 7 points 3 weeks ago (3 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 5 points 3 weeks ago (1 children)

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

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[–] OriginEnergySux@lemmy.world 34 points 3 weeks ago (1 children)

Me watching my lithium stocks get fucking smashed at the moment

[–] Allero@lemmy.today 10 points 3 weeks ago

Yay cheaper lithium

[–] janewaydidnothingwrong@lemmy.world 14 points 3 weeks ago (3 children)

Why are the electrodes attached to his nipples 🤔

[–] Homo_Erectus@lemmy.zip 25 points 3 weeks ago* (last edited 3 weeks ago) (1 children)
[–] SolacefromSilence@fedia.io 6 points 3 weeks ago (1 children)

Are you a Stanford scientist?

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

No. I stand-for sciencist

[–] Imgonnatrythis@sh.itjust.works 6 points 3 weeks ago (1 children)

Where would you put them monkey genius?

my ignorance is exposed 😖

[–] MeatPilot@sh.itjust.works 4 points 3 weeks ago

Because he's in to that shit.

[–] PeriodicallyPedantic@lemmy.ca 10 points 3 weeks ago* (last edited 3 weeks 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.

[–] PeriodicallyPedantic@lemmy.ca 3 points 3 weeks ago (1 children)
[–] Homo_Erectus@lemmy.zip 3 points 3 weeks ago

That's a preatty unique concept if you ask me

[–] Town@lemmy.zip 10 points 3 weeks ago (1 children)

It's only down 50% in the past year

[–] NochMehrG@feddit.org 6 points 3 weeks ago

It will rise, buddy!

[–] null@piefed.nullspace.lol 6 points 3 weeks 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 6 points 3 weeks ago

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

[–] Speculater@lemmy.world 6 points 3 weeks ago (5 children)

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

[–] Not_mikey@lemmy.dbzer0.com 11 points 3 weeks ago

NFC

Accepted as a method of payment nearly everywhere these days?

[–] big_slap@lemmy.world 5 points 3 weeks ago

?? I use nfc every day, wym

[–] prole@sh.itjust.works 4 points 3 weeks ago

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

[–] W98BSoD@lemmy.dbzer0.com 3 points 3 weeks ago

People using HomeAssistant would like a word….

[–] Allero@lemmy.today 3 points 3 weeks ago* (last edited 3 weeks 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.

[–] Knock_Knock_Lemmy_In@lemmy.world 2 points 3 weeks ago (1 children)

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.

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[–] whoisearth@lemmy.ca 4 points 3 weeks ago (3 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 11 points 3 weeks 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 weeks ago (2 children)

Compound interest and time.

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[–] Mubelotix@jlai.lu 4 points 3 weeks ago

It's just 50% down from ath though

[–] BlackLaZoR@lemmy.world 2 points 3 weeks ago
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