Serving the Quantitative Finance Community

 
User avatar
Alan
Topic Author
Posts: 10872
Joined: December 19th, 2001, 4:01 am
Location: California
Contact:

Re: End of bitcoin?

January 9th, 2022, 3:11 pm

Speaking of altcoins, tokens, etc, I posted a chart of Shiba Inu token prices before. Here is an update (SHIB-USD), down about 2/3 from the peak. Notice the volume (3.7 trillion coins) which is close to "all of them" if I recall. Ah ... so many zeros to go!
SHIB-USD.png
 
User avatar
Alan
Topic Author
Posts: 10872
Joined: December 19th, 2001, 4:01 am
Location: California
Contact:

Re: End of bitcoin?

January 15th, 2022, 7:56 pm

 
User avatar
bearish
Posts: 6821
Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

January 15th, 2022, 11:23 pm

I have slightly more sympathy for BAYC than for Bitcoin. The former is an exclusive club of sorts and pretends to be art, whereas the latter pretends to be money or something like that and is just pure evil. I don’t understand the pricing of art to begin with, so who am I to say that $2 billion isn’t the right price for a bunch of crudely drawn monkeys. There was a headline in the FT today that included the words crypto and Kardashian. Nothing bad could come from that combination, right?
 
User avatar
bearish
Posts: 6821
Joined: February 3rd, 2011, 2:19 pm

Re: End of bitcoin?

January 17th, 2022, 1:11 am

Bored apes are to bitcoin what Boris Johnson is to Donald Trump.
 
User avatar
kc11415
Posts: 430
Joined: March 16th, 2003, 10:02 pm
Location: United States

Re: End of bitcoin?

January 17th, 2022, 6:04 am

I was particularly impressed with this part from your link: "1-100 of 4919 results"

It has probably already been done (see "4919" above), but I think there's a strong potential for a scam um, business opportunity in creating cryptocurrencies one letter off from popular existing currencies. So "Betcoin," "Batcoin," "Botcoin," and "B!tcoin."
Uhm...   how about butcoin/buttcoin/buttocks-coin... then its not far to bullocks-coin  :-)
 
User avatar
Marsden
Posts: 3874
Joined: August 20th, 2001, 5:42 pm
Location: Maryland

Re: End of bitcoin?

January 22nd, 2022, 4:03 pm

kc's link is interesting today: Bitcoin (at this moment) down 9%; Etherium down 14%. I had heard yesterday that there was a big sell-off in cryptos; does anyone know why?

Side note: Sorry to say this, but I see a lot of similarities between cryptocurrencies and financial engineering. Cryptocurrencies early on claimed to provide untraceable transactions (which, to my understanding, is the OPPOSITE of the truth: the big deal of cryptocurrencies -- as far as I can tell -- is the distributed ledger, which -- yes -- can keep a single entity that keeps the only ledger from erasing you, but which also would tend to mean ANYONE maintaining a copy of the PUBLICLY AVAILABLE ledger can potentially trace your transactions) and avoidance of the vagaries of fiat currencies (... but acceptance of the occasional 10% daily fluctuation in value; at least it's probably random rather than a government conspiracy, I guess) for people who have managed never to have heard of precious metals ... but other than those dubious benefits, do nothing worthwhile, and yet have been spun via all manner of hype (see: Tulip Mania, Dutch) into a trillion dollar ... (industry?)

Financial engineering really does provide some real benefit ... but I think awfully marginal: how much benefit is there in giving someone a floor or a ceiling in the value of their risk-exposed portfolio before you have to ask, "Well, why are you leaving your portfolio so risk-exposed, you idiot?"

And yet by stories of spinning moon beams and cat whiskers into things of real value, financial engineering has become a multi-trillion dollar industry.

Is it worth it?

"I'm just asking questions."