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Bitcoin and almost every other cryptocurrency crashed hard today
21–30 of 426 posts
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#22deleted
I'm sure there was also someone who predicted 5k, 15k, 20k, and so on. Of course one of them will be right.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#23[deleted]
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#24It's almost like everyone was trying to get rich quick and sold when they saw some profit.
And anyone who bought in at $15k-19k is left holding the bag, as expected.
I've been avoiding buying for this very reason. I know bitcoin well enough to know it's going to crash, it's always going to crash, so never touch it on an upswing.
Buying it now is fairly reasonable. Though, I wouldn't be surprised to see it crash yet again, even harder, but it felt like buying on that upswing to 20k was suicide.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#25Cboe & CME must have some extensive performance clauses with exchanges used for futures pricing. A few weeks ago, selloffs like this would result in exchanges closing.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#26Third thread on the same topic:
https://news.ycombinator.com/item?id=15987110
https://news.ycombinator.com/item?id=15986302
Edit: So the downvotes now. It seems pointing out regurgitation of the same topic is somehow wrong. Learned my lesson here.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#27If this keeps up, we can look forward to the "It's under 9000!" memes...
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#28I used to ask others in last few months, at what point would you be comfortable buying? Is it 20K, 15K, 10K, 5K, 1K, 500$, 100$, or 50$? or less? See, the story changes, what was nice months ago now is an extremely high risk. Myself, I probably woudln't buy unless it's under 100$. Even that is questionable. Reason being, blockchain is a pipedream and BTC is a dinosaur within that dream. What future BTC has but specul…
Why does price of a bitcoin matter? You can buy the equivalent of $50usd in bitcoin, and enjoy many if not all of the 'opprotunities'.
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#29Earlier quoted context omitted.
And anyone who bought in at $15k-19k is left holding the bag, as expected.
I've been avoiding buying for this very reason. I know bitcoin well enough to know it's going to crash, it's always going to crash, so never touch it on an upswing. Buying it now is fairly reasonable. Though, I wouldn't be surprised to see it crash yet again, even harder, but it felt like buying on that upswing to 20k was suicide.
It's not even done crashing
Re: Bitcoin and almost every other cryptocurrency crashed hard today
#30Downvote me all you want, but HN really needs to cure this bitcoin-jealousy. Yes, people who invested early became millionares and billionares with a single mouse click. I know it feels unfair when you spend countless hours creating and innovating and not being rewarded. But some of you here needs to stop hating and being bitter. I have been watching HN and bitcoin related threads for months now. Same pattern.
I think there are three elements contributing to the negativity:
(1) People may get hurt. I was in an Uber two weeks ago where my driver talked about taking out a second line on his home to buy Bitcoin. By today's mark, he's lost money. That people who clearly have no idea what they're doing are being preyed on is disturbing to many, myself included.
(2) ICOs are a cesspool of frauds. They allow promoters to make money without putting anything up. That's different from early Bitcoin adopters, who actually put time or money or computing power at risk.
(3) Bitcoin is an article of faith. Discussions around its value often devolve into "does god exist" arguments.