Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

Post by paulpauper » Tue, Jan 16, 2018, 10:56 PM UTC

em3rgent0rdr wrote: post #43

jedberg wrote: post #30

If the threat of regulation drops it 25%, that's not a very good store of value or medium of exchange.

Non sequitur. That only means that it is not a good store of value from before being regulated to after being regulated. If however, governments figured out some standard harmonized regulations and consistently enforced them, then afterwards there would no longer be a threat of regulation. In fact, getting regulation applied might actually reduce volatility, because the uncertainty about the threat of regulation woul…

Post by JumpCrisscross » Tue, Jan 16, 2018, 10:57 PM UTC

dahdum wrote: post #53

JumpCrisscross wrote: post #42

Earlier quoted context omitted.

> Naive speculators The problem with this characterization is when enough people lose their shirts on leveraged crypto purchases, a problem of individual finances becomes one of collective policy. I'd be careful with dismissing the problem as one contained to the stupid. There was a thread on the front page, earlier, where multiple commentators were equated the odds of a massive and permanent Bitcoin crash with that…

> Korea may already be at the point where a 50% sustained drawdown plunges a significant fraction of the population into hardship. That, in turn, could trigger a recession. That seems unlikely. Something like 2M of 51M people have any crypto there, and only a small fraction would be overextended significantly. Anyone buying a couple months ago would still be up.

Post by m3kw9 » Tue, Jan 16, 2018, 10:57 PM UTC

Post by pishpash » Tue, Jan 16, 2018, 10:58 PM UTC

danibx wrote: post #49

olivermarks wrote: post #26

Earlier quoted context omitted.

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

Not everyone that buys with credit card does so because they don't have money. Many people do this because this is the fastest way to move money to an exchange. Wire transfers to exchanges sometimes wait for weeks before they are confirmed.

Post by KasianFranks » Tue, Jan 16, 2018, 10:58 PM UTC

spookthesunset wrote: post #59

KasianFranks wrote: post #22

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 cont…

Ahh the "time to buy cheap coins" rally of the die-hard bitcoin shysters. Your own post says "It's not liquid enough yet, creates no need to middle men and Bitcoin itself is now being manipulated by futures contracts based on supply being increased artificially." Does that sound like buying now is a good idea? Doesn't to me... Bitcoin is, was and always will be a highly manipulated penny stock. It spiked from $1000 t…