Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

Post by craigmi » Tue, Jan 16, 2018, 11:01 PM UTC

joering2 wrote: post #23

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.

Post by KasianFranks » Tue, Jan 16, 2018, 11:01 PM UTC

AndrewKemendo wrote: post #81

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…

creates no need to middle men I've seen this consistently touted as a structural advantage to (bit)coins, but have yet to see a compelling technical explanation as to how/why this would be the case. The Satoshi paper doesn't discuss middlemen at all. Very few people (relatively) are actually mining and most are just buying with USD from an exchange which by default is a middleman. Many of the other coins are pre-mine…

Post by kakarot » Tue, Jan 16, 2018, 11:02 PM UTC

nukeop wrote: post #72

spookthesunset wrote: post #59

Earlier quoted context omitted.

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…

What do you mean "no reason"? Supply and demand are the reasons the prices are shaped the way they are. It's a near perfect market.

Post by VMG » Tue, Jan 16, 2018, 11:02 PM UTC

AndrewKemendo wrote: post #81

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…

creates no need to middle men I've seen this consistently touted as a structural advantage to (bit)coins, but have yet to see a compelling technical explanation as to how/why this would be the case. The Satoshi paper doesn't discuss middlemen at all. Very few people (relatively) are actually mining and most are just buying with USD from an exchange which by default is a middleman. Many of the other coins are pre-mine…

Post by [deleted] » Tue, Jan 16, 2018, 11:03 PM UTC

bdcravens wrote: post #35

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 Which ones? I checked r/bitcoin, r/btc, r/ethereum, r/litecoin, r/bitcoinmarkets. Only one I saw with it was r/cryptocurrency