Bitcoin Cracks $5000
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dannno
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dannno
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Bitcoin is Crashing, and it’s Over!
Investing and trading are two different mindsets
Bitcoin is crashing and the party is over, the experts who told you there wasn’t a housing bubble in 2008 are saying..
https://medium.com/@Cernovich/bitcoin-is-crashing-and-its-over-c4669406b1f
Periscope on the topic:
https://www.pscp.tv/Cernovich/1jMKgdRdqgMGL[/COLOR]
Investing and trading are two different mindsets
Bitcoin is crashing and the party is over, the experts who told you there wasn’t a housing bubble in 2008 are saying..
https://medium.com/@Cernovich/bitcoin-is-crashing-and-its-over-c4669406b1f
Periscope on the topic:
https://www.pscp.tv/Cernovich/1jMKgdRdqgMGL[/COLOR]
newbitech
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i doubt many people are holding any appreciable share at 100x's at this point. if you bought 10 at $200 and held it thru 19k, what were you thinking? and if you have any amount at 80 and are still holding, WHAT ARE YOU THINKING! haha
and if you are the bastard that has like 100 at less than 10, seriously WTF are you thinking? Bitcoin/Blockchain works the same regardless if you have 100 or .001 of them. The holders past anything of 10x return in a couple years are pure speculative and being ruled by greed IMO. It's irrational.
Any other investment you'd be happy to double your money in less than a year and be super proud. even gambling at the casino if you double or triple up what you can afford to lose, the only reason you don't walk out is because of greed or you just have money to burn.
100x sounds good and that's exactly what it did, but far more people are losing 50% than will ever hope to see those massive irrational and unjustifiable gains.
More and more people will come to realize that the value proposition in bitcoin is not the arbitrary placement of the decimal point (or comma). When that happens, the illusion of scarcity will send holders to the exit in mass.
Mordan
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I am totally fine. I had 95% of my network in crypto. Sold only a few for little profit taking at 16k.. Now after the crash. i am still 80% networth in crypto AND i will buy the dip with fresh fiat.
Mordan
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see my post above. I started buying at 40 usd lol. I lived throught the MtGox crash of 1200 usd down to 200 usd. I am not FUCKING selling.
kahless
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Every day there is an article how the establishment banks or governments are threatening Bitcoin. Cryptos are under attack every which way.
Here is another.
Coinbase warns that banks now process credit-card crypto purchases as ‘cash advances’
https://www.marketwatch.com/story/c...dit-card-payments-as-cash-advances-2018-02-01
Here is another.
Coinbase warns that banks now process credit-card crypto purchases as ‘cash advances’
https://www.marketwatch.com/story/c...dit-card-payments-as-cash-advances-2018-02-01
kahless
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I have been thinking about these reports for days leading up.
'A true bloodbath': The timebomb that may bring down bitcoin
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11984142
newbitech
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You made 30x;s your money in a matter of months. Were you unable to cash in because lack of dollar liquidity? Didn't you convert any of those virtual earnings to anything tangible? I can't imagine what you were thinking at 10k and 20k USD notional. I can't imagine what you are thinking now.
I did not survive the Mt. Gox crash. I played on coinbase for a while and double up some play money a couple times. I suppose my thought process is that I am not willing to risk what I am not willing to lose in any amount, and on principle alone, I see no entry point above the original multiples after the main stream break out that allows me to risk more than a mere pittance. Certainly not enough to make doubling or tripling look any sort of attractive.
Take some friendly unsolicited advise? Sell half your stake now, if there is enough liquidity. Don't be that guy that feels comfortable because you are playing with house money when you can walk away with the actual house!
Mordan
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liquidity never a problem. you don't understand the potential of Bitcoin.
It is easy to say sell when you have profits.. If I had done your little strategy... i would have sold my 40 usd bitcoins at 300 dollars. I would have trade like a sucker trying to time the market.
there is a saying... time in the market always beats timing the market.
HODL!
newbitech
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I suppose if you never convert, liquidity wouldn't be a problem then. I understand the potential of the underlying interface. I was just became a non fan of the bitcoin implementation once I realize that the interface doesn't support the conjuring of arbitrary digits into a standalone value prospect. This was never more evident than the vast illiquidity that occurred during the first crash. As soon as any significant portion of the market tries to redeem their digits for anything tangible, the notational USD amount collapses.
This has been an ongoing pattern of abuse of the interface with no mechanism for mitigation. IOW, you can't reliably store your wealth on top of arbitrary digits. On top of that, the interface doesn't support many of the other use cases which require a liquid exchange between tangible assets and common monetary conversions. IOW it's not even money.
The cold fact remains, many bought into bitcoin and apparently continue to do so under a false pretense of pure supply/demand, free market, unregulated exchange. Both the later topics are indisputable as false pretense. The former topic has always be an issue I have raised. The artificial scarcity derived from the concept that the arbitrary number cannot increase passed a fixed finite number representation is extremely misleading. The interface functions perfectly with or without this arbitrary finite limit. In fact the interface already has designs to approach this issue when looking at the other limiter. The amount of floating point decimal that the number can be divided by.
No one seems to pay attention to this fact and it's easy to contemplate why this arbitrary fraction would increase with the exact same effect as moving the decimal to the right.
The vast majority thinks that the ability to move the decimal to the left is a virtue of the technology while moving the decimal to the right is DOOM... What everyone who thinks this fails to contemplate is that it has the exact same effect on the perceived scarcity of digits.
We can even extrapolate out a reasoning to take the smallest fraction of this number, what is it 0.00000001 or something like that, and use that fraction to reboot the entire bitcoin block chain. Put simply, each fraction can represent its on fork and derive the exact same underlying interface and be implemented in the exact same way. We'd just give it a different name.
There is no scarcity whatsoever. The technology is the exact opposite of scarcity. Which is probably why there is some idle unspoken concept that anyone and everyone can take a piece of this pie and the pie will keep growing. Sure the pie will indeed keep growing, but your slice of it will always and forever be the exact amount in which you put into in the first place. It will never grow and can only go to 0.
Unless of course you find someone else willing to take it off your hands for more. Eventually, there won't be another person who is willing to buy some arbitrary digits or trade for them for more than the last person in. At that point, this entire thing unwinds and the true value of arbitrary digits goes to the infinitesimal fraction (not zero) that represents the true scarcity or lack there of.
Any the technology will continue to run as if nothing happened and the value derived from that running technology will not come from the digits, but rather from the actual transactions and the meta data encapsulated within.
It's one of the clues that the banking establishment is probably behind cryptos. They've been running exchanges exactly like the stock market is run. Bitfinex=Federal Reserve, printing "money" out of nothing, then dumping it into the markets to create fake valuations. One could very easily say that crypto markets and stock markets are identical.
The Northbreather
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What are people gonna scoop at round here?.?.?
Zippyjuan
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Except in this case the scam behind it is actually hurting the price. The community has been requesting open and more transparent info about Tether for months now.
Huh? I don't follow your reasoning. Maybe it's hurting it now but it certainly helped the ramp to $20,000 before. The same as stock markets, when that fake, valueless printed money is slowed or stopped entirely, the prices start returning to where they would otherwise naturally be.
And for the record, I think I'm the only poster that has even mentioned the Tether issue in this forum.
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dannno
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I believe tether ordeal has less impact on the overall market than the deep state is trying to make us believe, but it is good that people are being careful and it is causing a market correction.
The thing is, they were supposed to be buying dollars - but apparently they may have been buying some bitcoin instead. How much we don't know, it could be a very small amount bought at lower prices or a large amount bought at higher prices. But bitcoin still has a lot of value. Yes, if it falls, it could cause some issues with liquidity and people could pull out and it would pull the price of bitcoin down some, but that is ok and a lot of people have pulled out already in preparation for that.
When it is over and accounted for, the price will be lower and people will dip back into the market and could sling shot us back up a bit.
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