So burns not the issue. 100 billion USD to corner the banking exchange market would be interesting though.
If it was valued at 1USD. Value would be higher and devisable by 000000.
My 7200 - 7500 may well be tested here.
I've done some sophisticated chart work. It's going down to $500.
The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.
I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.
Yep. It's a funny old bank. It just parks itself on the High Street not doing very much but people tend to forget that it's the largest bank in the UK, and by a distance. António is probably tearing strips off his Retail and Cards people.
The Lee brothers should be arrested and thrown in prison. One in China, and one in the US. Find a crime and pin them with it. People are going to be ropeable about this, and pretty soon.
You don't think the pink sheets are gonna save the day then?
Were there any stories about celebs making millions from cyrptos for selling a souvenir? That could be a game changer, or at least sucker a few more people into buying.
There's definitely some pump and dump going on here.
How much has the US Stock market lost in the last week?
It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.
You are a complete clown.
Bitcoin and the more general cryptomarket have gone through numerous crashes, with each one joyously declared the death of Bitcoin by various nocoiners, and a subsequent all time high for BTC following that. Is there any reason in particular that this is going to be the crash to end all crashes?
Of course there is no risk comparison. It's about $1 trillion? 2 times the size of the entire crypto market? Anyway, regardless, everyone has been expecting this since the massive surge late November.
When would you say 60% losses had occurred 2013 ? Why did that happen ?
So you sold short ?
More like stopped short by Frank Costanza.
What I've been doing is minute trading selling on RSI crossovers (sometimes preempting crossovers with a guess confident the market is falling) and following this with a trailing stop buy at a couple of $. Normally around the 1BTC mark per trade so make about 0.7% - 1%.
You must really be hurting a bit SON?
Nah I'm alright, I only spent about 2,3 grand on Bitcoins, Ethereum and Ripple. If they collapse it's not the end of the world for me as its only about 2% of my investments though I'd be annoyed naturally. And no I didn't bottow money to invest in Cryptos.
I do feel for loads of people who spent a lot more including a couple of my colleagues who have invested heavily in them.
Having said that I'm not sure this is the end of these coins. I'll just hold them and see what happens.
And it's a really weird endgame too. What's the point of it? It's a finite resource. The less dispersed the ownership the less liquid, the less useful and the less valuable. And that's assuming it eventually gets a use in the first place.
You're treating it like gold. It's not gold.
Let me ask you this: how rich would you be if owned all of the Bitcoins?
But if you knew this collapse was coming you'd have doubled your BTC holding if you'd sold them then and bought them back today. It makes little sense not doing that IF you knew this was going to happen.
Plus the end game will still be valued in USD in your life time. Stop it.
Bitcoin hasn't had one of its "numerous crashes " of this depth since 2013, so understanding what happened then , why it occurred etc would be useful now.
I get the feeling that there's a strange conflation of cryptos as currency and as securities. As if buying cryptos buys you access to an additional cash flow that is apart from the use of the crypto as a currency.
In the case of ripple and etherum that may eventually be true. Though of course as pointed out earlier at this point they cannot have trading vol in large amounts.
I'm not sure of the endgame but over the years seeing a couple of other bubbly investments blowing up, I wonder if BTC is heading there too.
In the 90's Guinness Peat Aviation (Aircraft Leasing) tried to do an IPO. There were doubts laid, and the finance sector backed off. The net result was GPA ended up destroyed as an entity. Their business model survived though. In particular through executives that had worked for the company. Aircraft Leasing is now a major industry. The investment money is coming from Japanese banks & investment Funds rather than IPO's.
In the 00's was Baltimore. Here I'm sure the technology ideas survived although the company did not.
So although there is a proper business model behind cryptos, and the fact BTC were first, it does not protect them from market sentiment. The loss of investment confidence along with technological advances of their competitors could finish it in the near term.
Last edited by Leinster in London on Mon Feb 05, 2018 7:43 pm, edited 1 time in total.
I'm treating it like cryptocurrency. I speculate, hodl, code and buy stuff with it.
SEC Chairman Jay Clayton testimony today.
Thats all valued in USD.
Well, yes. Everything can pretty much be valued in USD. Although it's quite common amongst traders to value in Sats.