81–90 of 426 posts
Buying on the way down, see you all on the upswing in about a year. I bought after the MtGox crash in 2013 and can't wait to buy this bear market!
What do you consider a "bottom" price for bitcoin ? or a "high" price ? This thing has no possible valuation, because it has no utility, no intrinsic value. The whole thing is just crazy.
I do mobile software consulting. To give you an idea of the level of crypto currency mania: Every single one of my clients in San Francisco have some kind of slack or group chat devoted to crypto trading. I was waiting at the front desk of a client who has a floor in a fancy building downtown. Whilst waiting I overheard the end of a conversation between the door guy talking to the maintanence man: “I put in a bunch o…
- not scalable
- not rare
- didn't have any government backing or big institutional backing in case the price dropped from 19,000 to 11,000
- easily hackable (tether, fake trades, scam exchanges, etc)
- too expensive to do a single transaction
this applies to most crytocurrency
It was almost as if the entire cryptocurrency space had turned into a huge unregulated casino.
I was at a couple of Bitcoin meetups recently and was surprised to find that most attendees were proudly saying that it doesn't matter if they understand how the technology works. It's one thing to not understand what you're gambling with, it's a whole another matter if everyone is actually proud about their very ignorance and even thinks of their ignorance (yet I'm still making money!) as being clever.
Unlike what some people pointed out in this thread, the price going down is not from people who got rich quick and sold. It's a panic sell.
That's what happens when you gamble with something you don't understand.
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When Coinbase became the #1 app in the App Store, you knew the bubble would soon burst.
https://coinbase.com/ is down.
If only the coins were the only things that continued to crash in this saga.
I do mobile software consulting. To give you an idea of the level of crypto currency mania: Every single one of my clients in San Francisco have some kind of slack or group chat devoted to crypto trading. I was waiting at the front desk of a client who has a floor in a fancy building downtown. Whilst waiting I overheard the end of a conversation between the door guy talking to the maintanence man: “I put in a bunch o…
Hopefully this crash scares away the door guy. Cant have poor people around in the big boys market. /s
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Wow, this interface is very cool, very useful to explain how markets/pricing work ! Maybe (probably) it's some pretty standard way of displaying things but I had never seen one like this.
It's a fairly standard order book view, with a nice log of trades on the right hand side. For most real exchanges (eg ones trading shares or commodities), this view would be impossible without some kind of downsampling as there would be too many trades/sec to display in real time. Your monitor probably isn't fast enough, let alone your browser rendering stack.
I would like to see such a view for regular stock markets but I don't know where to go. The stock exchange interface of my bank, for example, is far from showing such a nice thing, only a bare order book with only a few lines.
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Agreed, it's almost like the asset has no fundamental value, and is driven completely by speculation.
You mean, like the US dollar ?