Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

bloomberg.com

Post reply on HN
Print view View original

21–30 of 371 posts

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#21

Post by croon »

Firebrand wrote: post #10

The crypto market keeps going further down because every day there’s hundreds of articles of "news" reports going with some some doomsday promoting theme. Just today some scientific report claiming bots were responsible for bitcoin's rise from $150-$1000, and now the media is taking advantage of everyone’s fear of a rising China by claiming the PRC will start freezing bank accounts, etc. Everyone is being played. If…

Which news specifically, are fake news? How is anyone being played? If cryptocurrencies indeed are underpriced right now you can get in right now and make 50%+ when it goes up again.

Maybe, just maybe, enough people are starting to look down and see that they've run off a cliff and no longer have ground under their feet. These are assets built on the promise of potential future use.

Blockchain will live, but ArbitraryCoin? Who knows.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#22

Post by KasianFranks »

Time to buy. Down from what price since January? Cryptocurrency is a long term play from a software and financial engineering vantage. It also continues to irritate the hell out of banks (bank accounts are being closed and restricted from exchange transfers, including coinbase) and general investors. It's not liquid enough yet, creates no need for middle men and Bitcoin itself is now being manipulated by futures contracts based on supply being increased artificially.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#23

Post by joering2 »

vthallam wrote: post #7

The last time China explicitly banned Bitcoin, it dropped by around 45% to around $6000. It went on to $20K from there. But what's different this time is that there are first time investors in millions who joined in the last 2 months. They didn't read the white paper, they didn't invest in technology, they invested for the monster returns. So I think there will be a more sell off this time before it rebounds back to…

Just like with dot com burst, it doesnt mean someone will turn the lights off forever. Just like the internet eventually got mainstream and websites are being bought and sold for billions these days, same way BitCoin will never be at 0,001 cent with nobody touch it with a long stick.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#24

Post by perseusprime11 »

vthallam wrote: post #7

The last time China explicitly banned Bitcoin, it dropped by around 45% to around $6000. It went on to $20K from there. But what's different this time is that there are first time investors in millions who joined in the last 2 months. They didn't read the white paper, they didn't invest in technology, they invested for the monster returns. So I think there will be a more sell off this time before it rebounds back to…

What’s also different is few individuals/entities in South Korea and elsewhere are responsible for driving the value upstream. Anything that is manipulated does not last long. As somebody wise (Buffet) once said this will have a bad ending.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#25

Post by jacquesm »

adamnemecek wrote: post #17
Theodores wrote: post #11

I am amazed at the losses given the investment advice that I was given all of two days ago from a 'bitcoin bore'. I was told to invest all I could afford in various coins buying one coin so I could then buy the others. I would have lost 30% of my money in the last 24 hours on the coins needed for the other transactions, then in those hot coins I would have lost 45% in 24 hours on one and 44% in 24 hours on the other.…

Welcome to investing?

Speculation. Investing is something different entirely, just like the lottery is different than owning a chunk of a business.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#26

Post by olivermarks »

austenallred wrote: post #19

The suicide prevention hotline is pinned to the top of cryptocurrency subreddits because the price of bitcoin is where it was at the beginning of last month. Think about that for a minute. When we really have a bear market people are going to lose their minds.

Naive speculators are buying cryptocurrencies on their credit cards without understanding the volatility https://www.bloomberg.com/news/articles/2018-01-11/bitcoin-b...

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#27

Post by matwood »

austenallred wrote: post #19

The suicide prevention hotline is pinned to the top of cryptocurrency subreddits because the price of bitcoin is where it was at the beginning of last month. Think about that for a minute. When we really have a bear market people are going to lose their minds.

Yeah, people love to overreact. I follow the reddit investing forum sometimes, and people go nuts with 'plunge' and 'crash' when a tech stock moves -1%.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#28

Post by suckmydang »

stanleydrew wrote: post #13
Firebrand wrote: post #10

The crypto market keeps going further down because every day there’s hundreds of articles of "news" reports going with some some doomsday promoting theme. Just today some scientific report claiming bots were responsible for bitcoin's rise from $150-$1000, and now the media is taking advantage of everyone’s fear of a rising China by claiming the PRC will start freezing bank accounts, etc. Everyone is being played. If…

> Everyone is being played. How do we know that you're not also playing us, just from the opposite side?

Classic paranoid delusions. No evidence arguments.

Re: Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

#29

Post by jacquesm »

austenallred wrote: post #19

The suicide prevention hotline is pinned to the top of cryptocurrency subreddits because the price of bitcoin is where it was at the beginning of last month. Think about that for a minute. When we really have a bear market people are going to lose their minds.

> The suicide prevention hotline is pinned to the top of cryptocurrency subreddits because the price of bitcoin is where it was at the beginning of last month.

Where on the page?

https://www.reddit.com/r/Bitcoin/

Or a different page?

Post reply on HN