Author Topic: How soon until Bitcoin crashes?  (Read 16247 times)

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Offline irvinehomeowner

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Re: How soon until Bitcoin crashes?
« Reply #135 on: August 10, 2018, 07:23:10 AM »
Forget Bitcoin... it's all about BigMacCoin:

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Offline morekaos

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Re: How soon until Bitcoin crashes?
« Reply #136 on: August 15, 2018, 05:05:57 PM »
The inevitable outcome...

Crypto market crash prompts suicide concerns

Bitcoin is down 57% in 2018 so far, ether is down 67%, bitcoin cash (BCH) is down 80%, stellar lumens (XLM) is down 60%, and ripple (XRP) is down an eye-popping 87%.



https://finance.yahoo.com/news/crypto-market-crash-prompts-suicide-concerns-135248250.html

Offline Liar Loan

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Re: How soon until Bitcoin crashes?
« Reply #137 on: August 20, 2018, 03:03:10 PM »
After the bitcoin boom: hard lessons for cryptocurrency investors

SAN FRANCISCO — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.

Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.

"I got too caught up in the fear of missing out and trying to make a quick buck," he said this week. "The losses have pretty much left me financially ruined."
..............................................................
Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.

"I thought that cryptocurrencies would be the one and only breakthrough for ordinary hard-working people like us," she said. "I thought my family and I could escape hardship and live more comfortably but it turned out to be the other way around."
....................................................................
Tony Yoo, 26, a financial analyst in Los Angeles, invested more than $100,000 of his savings last fall. At their lowest point, his holdings dropped almost 70 percent in value.

Twitter is also filled with complaints, like the one from a user named @Notsofrugaljoey, who wrote: "It's really hard to stomach losing all my hard earned money. Just broke down and cried."

https://www.cnbc.com/2018/08/20/after-the-bitcoin-boom-hard-lessons-for-cryptocurrency-investors.html

Offline Kings

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Re: How soon until Bitcoin crashes?
« Reply #138 on: August 20, 2018, 03:48:35 PM »
After the bitcoin boom: hard lessons for cryptocurrency investors

Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.

"I thought that cryptocurrencies would be the one and only breakthrough for ordinary hard-working people like us," she said. "I thought my family and I could escape hardship and live more comfortably but it turned out to be the other way around."

easy access to $90,000 in cash to blow on cryptos....i wouldn't exactly call that hardship

Offline Paris

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Re: How soon until Bitcoin crashes?
« Reply #139 on: August 20, 2018, 10:38:48 PM »
After the bitcoin boom: hard lessons for cryptocurrency investors

SAN FRANCISCO — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.

Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.

"I got too caught up in the fear of missing out and trying to make a quick buck," he said this week. "The losses have pretty much left me financially ruined."
..............................................................
Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.

"I thought that cryptocurrencies would be the one and only breakthrough for ordinary hard-working people like us," she said. "I thought my family and I could escape hardship and live more comfortably but it turned out to be the other way around."
....................................................................
Tony Yoo, 26, a financial analyst in Los Angeles, invested more than $100,000 of his savings last fall. At their lowest point, his holdings dropped almost 70 percent in value.

Twitter is also filled with complaints, like the one from a user named @Notsofrugaljoey, who wrote: "It's really hard to stomach losing all my hard earned money. Just broke down and cried."

https://www.cnbc.com/2018/08/20/after-the-bitcoin-boom-hard-lessons-for-cryptocurrency-investors.html

Proof that "get Rich Quick" schemes never work. slow and steady is the best route to wealth for most. Tortoise usually wins the race over that hare...

Offline irvinehomeowner

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Re: How soon until Bitcoin crashes?
« Reply #140 on: August 21, 2018, 07:03:49 AM »
So did all the bitcoins crash? Or just the ones outside of Irvine?

:)
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Offline daedalus

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Re: How soon until Bitcoin crashes?
« Reply #141 on: August 21, 2018, 10:06:45 AM »
Quote
But Mr. Yoo is still a big believer in the idea that these tokens can provide a new way to transact online, without the big corporate middlemen we rely on today. Many of the groups that raised money last year are still working on the products they promised, with lots of serious engineers drawn to the projects.

"There's just so much more behind this new wave of technology and innovation that I'm sure will take over our society in due time," Mr. Yoo said.

With prices down so much, he said he was actually looking to put more money into the markets.


That is so adorable.

Offline morekaos

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Re: How soon until Bitcoin crashes?
« Reply #142 on: August 21, 2018, 10:46:21 AM »
I ran out an bought one...


Offline momopi

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Re: How soon until Bitcoin crashes?
« Reply #143 on: August 21, 2018, 01:35:20 PM »
I recall watching FTV (Fashion TV) channel on my android box and saw advertisement for "FTV Coin".

https://icobench.com/ico/ftv-coin-deluxe




Offline lnc

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Re: How soon until Bitcoin crashes?
« Reply #144 on: August 21, 2018, 03:24:36 PM »
I recall watching FTV (Fashion TV) channel on my android box and saw advertisement for "FTV Coin".


Few days ago it was wearing stretch jeans and now it's watching fashion TV, what have you done to our NRA survivalist. :)

Offline momopi

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Re: How soon until Bitcoin crashes?
« Reply #145 on: August 21, 2018, 03:49:24 PM »
I recall watching FTV (Fashion TV) channel on my android box and saw advertisement for "FTV Coin".


Few days ago it was wearing stretch jeans and now it's watching fashion TV, what have you done to our NRA survivalist. :)

Due to the summer heat, I either stay home to watch Korean melodrama and 1 million dance studio videos, or enjoy free AC at the mall while I shop for discounted clothing.  As soon as the weather cools I'll be back in the forests, attending classes on foraging, beer and cheese making:

http://www.urbanoutdoorskills.com/schedule.html

Note that due to Summer heat many outdoor classes are currently held indoors, which kinda defeats the purpose.


p.s.  I strongly dislike Wayne LaPierre.

Offline Happiness

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Re: How soon until Bitcoin crashes?
« Reply #146 on: August 30, 2018, 10:54:46 AM »
Venezuela's cryptocurrency Petro is nowere to be found:

https://in.reuters.com/article/cryptocurrency-venezuela/special-report-in-venezuela-new-cryptocurrency-is-nowhere-to-be-found-idINKCN1LF18G

After Venezuela's socialist government destroyed the economy and decimated its currency (the bolivar), the socialists announced in February that Venezuela would be switching to cryptocurrency. Despite the fact that after six months this cryptocurrency (the petro) is nowhere to be found, the socialists still insist they will start paying debts and government pensions in cryptocurrency.

This is interesting because Venezuela's biggest creditor is China which takes a dim view of cryptocurrency (trade in bitcoin is banned in the PRC). Soon all that sweet Venezuelan crude will belong to the PRC. This is why we must discourage further PRC investment in the Americas.

Offline meccos12

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Re: How soon until Bitcoin crashes?
« Reply #147 on: September 02, 2018, 06:32:55 PM »
Isnt this all about timing?  There are many that are still profitable even at todays prices.  If you bought greater than 1 year ago, then you are still looking really good. 

Offline Halos

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Re: How soon until Bitcoin crashes?
« Reply #148 on: September 04, 2018, 09:51:59 PM »
Isnt this all about timing?  There are many that are still profitable even at todays prices.  If you bought greater than 1 year ago, then you are still looking really good.

They only heard about Bitcoin in December 17'...to them it's a disaster  ;D

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Offline irvinehomeowner

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Re: How soon until Bitcoin crashes?
« Reply #149 on: September 05, 2018, 08:01:58 AM »
Ahh... Halos is back.

After doing some more reading, one of the biggest problems with cryptocurrency are the exchanges and the wallets. There have been major hacks involving losses of millions/billions of dollars at different levels either by modifying the transactions before the hashes can be guessed, manipulating the valuation, copying keys, stealing wallet accounts etc etc.

And unlike banks where you have FDIC to protect your money, I'm not sure if there is some insurance system in place for cryptocurrency owners.

Just stick to buying in Eastwood.
Once you go 3-car garage... your junk can never go back.
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FCB: Foreign Cash Buyer
I recommend:
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