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Crypto-currencies have lost 30% of their value in the last 3 weeks

coinmarketcap.com

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Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#91

Post by ghostbrainalpha »

uncletammy wrote: post #73
ghostbrainalpha wrote: post #65

Earlier quoted context omitted.

I didn't read that comment as hate. The rise of Bit Coin is absolutely fueled by criminal activity. Bitcoins utility in facilitating illegal drug purchases is possibly its greatest asset. As long as people want to buy drugs on the internet and use Bitcoin to do it, the BC value will rise. Can you imagine if Bit Coin becomes the most popular way for people to buy prescription medications from other countries? It would…

The rise of bitcoin is fueled by investment speculation. There are other coins much better suited for buying drugs online.

What is the best crypto-currency for illegal activity today?

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#92

Post by arisAlexis »

ghostbrainalpha wrote: post #65
arisAlexis wrote: post #35

Earlier quoted context omitted.

you hate it cause you missed the train? not late still

I didn't read that comment as hate. The rise of Bit Coin is absolutely fueled by criminal activity. Bitcoins utility in facilitating illegal drug purchases is possibly its greatest asset. As long as people want to buy drugs on the internet and use Bitcoin to do it, the BC value will rise. Can you imagine if Bit Coin becomes the most popular way for people to buy prescription medications from other countries? It would…

There is an EU study online recent that says digital currency is not used much for illegal activity

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#93

Post by Strategizer »

What I don't get is why alts are losing value against BTC. Like, if you look at this chart it shows that Bitcoin is gaining market share and alts are losing it:

https://coinmarketcap.com/charts/#dominance-percentage

I would think that people would be leaving BTC and putting their money in alts due to August 1 jitters, but it seems to be the opposite that's happening.

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#94

Post by jcslzr »

Twisell wrote: post #45
cs702 wrote: post #39

Gold, which is possibly the oldest store of value used by civilization, is just as volatile. The inflation-adjusted price per Troy ounce of gold went from a high of around $2400 in the the late 1400's, to a low of $200 in 1919; then, it rose in fits and starts until it peaked at nearly $1600 in 1980; it then declined, again in fits and starts, until it bottomed just below $400 in 2002; then it rose to nearly $2000 in…

Except that during crisis Gold is guarantee to fall back at worst to it's "practical" value as a metal being used for jewelry. Even tulips bulbs have a practical value as every gardener could tell you. However the practical value of a crypto currency is zero. And no technical small talk was able to contest this truth so far. EDIT: Downvote what you can't contest, how mature!

you are right only silver and gold are money.

it should not be Bitcoin vs Gold, the real question is Bitcoin vs USD

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#95

Post by jcslzr »

Strategizer wrote: post #93

What I don't get is why alts are losing value against BTC. Like, if you look at this chart it shows that Bitcoin is gaining market share and alts are losing it: https://coinmarketcap.com/charts/#dominance-percentage I would think that people would be leaving BTC and putting their money in alts due to August 1 jitters, but it seems to be the opposite that's happening.

its not the same thing, Bitcoin is decentralized, the others have clear owners, just like regular fiat (dollars, euros, etc)

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#96

Post by regulation_d »

anovikov wrote: post #47

Why am i not surprised? Nearly all or maybe all ICOs since May have been a deliberate scam. That is beyond the word 'bubble'. That is just it - collective scam. Crowdsourced Bernie Madoff.

This seems overstated. Civic seems interesting. EOS seems interesting. They are both longshots, but are they longer shots than your typical startup?

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#97

Post by CamelCaseName »

louprado wrote: post #62

Ethereum traded around $380 three weeks ago and is now hovering around $200, which is quite a loss in value. Ethereum makes up 44% of the total market cap of altcoins, but does anyone know what percentage of the remaining altcoins are just ERC20 tokens ? My gut tells me those ERC20 tokens are vulnerable to ETH price declines since miners get paid in ETH. A token may lose value, for example, as transaction times start…

There's not a huge difference, practically, between 17 seconds and 13 second block times.

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#98

Post by Taek »

Anderkent wrote: post #15
vbezhenar wrote: post #9

Earlier quoted context omitted.

Is it a good idea to buy GPU from mining farm? Surely it was overclocked and in bad thermal condition, so it could barely survive. I think, electronic circuits degrade in those circumstances, so this GPU won't last long.

Mining is about flop/$, rather than flop/s, so overclocking is actually rare. The best mining GPUs are the ones that are most efficient, not most powerful; overclocking usually trades efficiency for power.

Not true in the current environment. Right now pretty much everything is profit, so more hashrate means more profit, even if your electricity costs are higher.

Once AMD and Nvidia print enough cards to match demand though that'll change again.

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#99

Post by anovikov »

regulation_d wrote: post #96
anovikov wrote: post #47

Why am i not surprised? Nearly all or maybe all ICOs since May have been a deliberate scam. That is beyond the word 'bubble'. That is just it - collective scam. Crowdsourced Bernie Madoff.

This seems overstated. Civic seems interesting. EOS seems interesting. They are both longshots, but are they longer shots than your typical startup?

EOS has nothing to show. Pretty much sure it is a scam. Do you imagine a regular startup getting THAT much funding so quickly, for nothing to show? Not even if Elon Musk was the founder.

Re: Crypto-currencies have lost 30% of their value in the last 3 weeks

#100

Post by davidgerard »

"Market cap" is a vacuous and bogus number.

Cryptocurrency advocates and lazy journalists like to talk about it, but it's not actually useful - it’s not money that was put into the crypto, it’s not a realisable value like a company market cap, it doesn’t affect prices. It’s just an easily-calculated number that sounds good in a headline. It literally doesn't indicate anything.

Trading is so thin in any crypto, even Bitcoin, that you could never realise a fraction of the number in any way.

If you want to compare interest and activity in crypto assets, you need to compare trading volumes, if you can find good numbers for those.

What the drop indicates is that prices in all cryptos track each other, as is usual.

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