Author Topic: How soon until Bitcoin crashes?  (Read 3982 times)

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Offline daedalus

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Re: How soon until Bitcoin crashes?
« Reply #30 on: January 09, 2018, 12:07:54 PM »
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“a photocentric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”
dafuq you say?

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Re: How soon until Bitcoin crashes?
« Reply #31 on: January 09, 2018, 12:23:00 PM »
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“a photocentric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”
dafuq you say?

Who cares?!  Just buy some before you miss out!!

Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #32 on: January 09, 2018, 01:19:05 PM »
This is just as funny...and sort of similar

Aug 26 2001
Flooz.com Announces Closure

Started by iVillage co-founder Robert Levitan, the company attempted to establish a currency unique to Internet merchants, somewhat similar in concept to airline frequent flier programs or grocery store stamp books. The name "flooz" was based upon the Arabic word for money, فلوس, fuloos. Users accumulated flooz credits either as a promotional bonus given away by some internet businesses or purchased directly from flooz.com which then could be redeemed for merchandise at a variety of participating online stores. Adoption of flooz by both merchants and customers proved limited, and it never established itself as a widely recognized medium of exchange, which hindered both its usefulness and appeal.

https://worldhistoryproject.org/2001/8/26/floozcom-announces-closure

Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #33 on: January 11, 2018, 11:30:32 AM »
As I have said in other threads...Never bet against this man...

Buffett on cryptocurrencies: 'I can say almost with certainty that they will come to a bad ending'

Warren Buffett tells CNBC the recent craze over bitcoin and other cryptocurrencies won't end well.
"When it happens or how or anything else, I don't know," the billionaire Berkshire Hathaway chief says.
But he says he would not take a short position on bitcoin futures

https://www.cnbc.com/2018/01/10/buffett-says-cyrptocurrencies-will-almost-certainly-end-badly.html

Offline Irvinecommuter

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Re: How soon until Bitcoin crashes?
« Reply #34 on: January 11, 2018, 11:33:00 AM »
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Panic struck the Bitcoin industry this morning as South Korea became the latest in a growing line of countries to turn against the controversial digital currency.

Algeria, Morocco, Bolivia, Ecuador, Kyrgyzstan, Bangladesh and Nepal have all banned or outlawed the use of Bitcoin to varying degrees.

But South Korea’s imminent ban is seen as the most damaging yet, given the size of the South Korean economy and the popularity of Bitcoin there.

https://www.thememo.com/2018/01/11/south-korea-is-the-8th-country-to-ban-bitcoin-and-it-wont-be-the-last/

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Re: How soon until Bitcoin crashes?
« Reply #35 on: January 11, 2018, 11:46:55 AM »
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Panic struck the Bitcoin industry this morning as South Korea became the latest in a growing line of countries to turn against the controversial digital currency.

Algeria, Morocco, Bolivia, Ecuador, Kyrgyzstan, Bangladesh and Nepal have all banned or outlawed the use of Bitcoin to varying degrees.

But South Korea’s imminent ban is seen as the most damaging yet, given the size of the South Korean economy and the popularity of Bitcoin there.

https://www.thememo.com/2018/01/11/south-korea-is-the-8th-country-to-ban-bitcoin-and-it-wont-be-the-last/

All of the other countries listed presumably have unstable currencies, so no surprises there.  For a country with a well-developed economy like South Korea to ban crypto trading, it could set the precedent for other developed countries to follow.

Offline Irvinecommuter

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Re: How soon until Bitcoin crashes?
« Reply #36 on: January 11, 2018, 12:11:10 PM »
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Panic struck the Bitcoin industry this morning as South Korea became the latest in a growing line of countries to turn against the controversial digital currency.

Algeria, Morocco, Bolivia, Ecuador, Kyrgyzstan, Bangladesh and Nepal have all banned or outlawed the use of Bitcoin to varying degrees.

But South Korea’s imminent ban is seen as the most damaging yet, given the size of the South Korean economy and the popularity of Bitcoin there.

https://www.thememo.com/2018/01/11/south-korea-is-the-8th-country-to-ban-bitcoin-and-it-wont-be-the-last/

All of the other countries listed presumably have unstable currencies, so no surprises there.  For a country with a well-developed economy like South Korea to ban crypto trading, it could set the precedent for other developed countries to follow.

China is pretty much locking down bitcoin too.

https://www.computerworld.com/article/3247324/financial-it/chinas-moves-against-cryptocurrencies-could-affect-blockchain-growth.html

Offline Kings

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Re: How soon until Bitcoin crashes?
« Reply #37 on: January 16, 2018, 01:52:33 PM »
The beginning of the end?
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Bitcoin plunges—now down 47 percent from December peak [Updated]
Every major cryptocurrency has seen double-digit losses in the last 24 hours.


Bitcoin's value plunged on Tuesday, falling to $10,300—the lowest value the virtual currency has seen in 2018. Bitcoin's value is down almost 25 percent over the last 24 hours, and down 47 percent from December's all-time high of around $19,500.

https://arstechnica.com/tech-policy/2018/01/bitcoin-plunges-now-down-42-percent-from-december-peak/

Offline jmoney74

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Re: How soon until Bitcoin crashes?
« Reply #38 on: January 16, 2018, 03:40:19 PM »
The beginning of the end?
Quote
Bitcoin plunges—now down 47 percent from December peak [Updated]
Every major cryptocurrency has seen double-digit losses in the last 24 hours.


Bitcoin's value plunged on Tuesday, falling to $10,300—the lowest value the virtual currency has seen in 2018. Bitcoin's value is down almost 25 percent over the last 24 hours, and down 47 percent from December's all-time high of around $19,500.

https://arstechnica.com/tech-policy/2018/01/bitcoin-plunges-now-down-42-percent-from-december-peak/

watch out for the head and shoulder fake.

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Re: How soon until Bitcoin crashes?
« Reply #39 on: January 16, 2018, 04:28:16 PM »
All of the top 5 currencies have lost between 35-55% in value since their peak before rebounding slightly today.

The price of Bitcoin actually dipped below $10,000 briefly, which is lower than when I started this thread on Nov 29th.

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Re: How soon until Bitcoin crashes?
« Reply #40 on: January 17, 2018, 10:47:06 AM »
Man, wish I had a reliable way to short this crap.

Bitcoin Bulls Walloped by 50% Crash to Below $10,000

Bitcoin's extraordinary price collapse continued in European trading Wednesday, pulling the world's best-known cryptocurrency below the $10,000 mark and wiping billions from the market value of digital alternatives around the world.

Bitcoin prices broke through $10,000 today to trade at about $9,500, according to Coindesk. That marks a stunning 50% crash from highs achieved on Dec. 18.

The slump has not only dragged bitcoin to a six-week low, it's also pulled rivals such as Ripple and Ethereum more than 34% and 43% lower so far this week, taking more than $150 billion from the 'market cap" of the world's three largest cryptocurrencies in just three days, according to coinmarketcap data.

https://www.thestreet.com/story/14451645/1/bitcoin-sheds-70-billion-this-week-as-global-cryptocurrencies-crumble.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

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Re: How soon until Bitcoin crashes?
« Reply #41 on: January 17, 2018, 06:15:51 PM »
Not Bitcoin, but in other "alt" currency news...

BitConnect Investors Left in the Lurch as Token's Price Drops 90%
Quote
The price of BitConnect's controversial cryptocurrency has cratered following Tuesday's news that its lending and exchange operation is shutting down – and investors have been unable to sell their tokens despite claims the site would stay online this week.

The closure of BitConnect's lending and exchange platform was a major development given that its sales pitch prominently features the promised returns from lending out the currency, known as BCC, via the site. After the announcement, the price of BCC tanked on the few public markets on which the cryptocurrency trades.

According to data from CoinMarketCap, BCC was trading above $400 at the start of 2018, yet in the wake of Tuesday's bombshell, the price has fallen by more than 90%, trading at roughly $17.25 per coin as of press time

Akin to high-yield investment plans, BitConnect touted larger returns based on the amount loaned (users would deposit bitcoin and buy BCC in order to lend).

As might be expected, BitConnect drew comparisons to cryptocurrency investment schemes such as OneCoin, which was widely believed to be a pyramid scheme.

The allegation that BitConnect is a Ponzi scheme – in which earlier investors are effectively rewarded with the proceeds of new investors – gained traction in recent weeks as state regulators in the U.S. issued cease-and-desist letters to the outfit in connection with an initial coin offering.

I went to BitConnect's website and their High Yield Investment Plan promises returns of 0.25% PER DAY.  That's about 7.5% per month for a high yield "loan" to somebody.  Who would borrow at those rates?  Nobody outside of a check cashing business.

They also made extensive use of affiliate links to draw new "investors" in.

Basically, the founders of the currency created this buzz with high yield investments, drew people in rapidly with affiliate links, and pumped the price of the currency up before anonymously cashing their share out in Bitcoin.  Once the ponzi scheme ended, the price crashed by 90%.

Nobody knows who founded the company.

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Re: How soon until Bitcoin crashes?
« Reply #42 on: January 18, 2018, 11:40:28 AM »
Another fun bubble chart comparing Bitcoin to other manias.  Notice the dotcom bubble is barely a blip on this chart.



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Re: How soon until Bitcoin crashes?
« Reply #43 on: February 02, 2018, 10:16:11 AM »
A major bitcoin conference is no longer accepting bitcoin payments because the fees and lag have gotten so bad
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For all the hype around bitcoin right now, it's easy to overlook an important fact: It doesn't actually work very well as a currency.

While interest in the digital currency has exploded over the last 12 months, pushing its price up from $800 to $15,000, the network has buckled under the strain. Users face fees of upwards of $30 on every transaction, which can take hours to process.

In fact, it has gotten so bad that even a major bitcoin conference has stopped accepting bitcoin payments for tickets altogether.

The North American Bitcoin Conference will be held in Miami on January 18-19, with last minute tickets going for $1,000 a pop. But would-be attendees can no longer pay for a ticket in bitcoin or in any other cryptocurrencies.

http://www.businessinsider.com/bitcoin-conference-stops-accepting-bitcoin-network-fees-congestion-2018-1

Online morekaos

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Re: How soon until Bitcoin crashes?
« Reply #44 on: February 02, 2018, 11:22:38 AM »

 

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