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Earlier quoted context omitted.
At $250 I was explaining to my parents what bitcoin is. At $19,000 I was overhearing Starbucks baristas talk about it.
At $4 I was trying to explain to my professor that my capstone project wasn't based on drug money.
Since the article states "the trigger for the latest sell-off is unclear" I'm really curious if somebody here could venture a guess about the reasons for the sudden drop. The Bitcoin Cash fork seems suspiciously correlated but is it big enough news to cause such a turmoil? Being a cryptocurrency-skeptic I won't pretend that I don't experience a little bit of schadenfreude when I see CC crash, however if I'm trying to…
Quite the lexiphanicism aren't you?
That's what happens when you screw over the general public in a giant pump and dump. There is just no more money left to steal. First time was for the early adopters at $1000, second time was for the late majority at $19,000. You're not going to see that happen again.
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> they are being required to require new forms of ID and I cannot supply it. Can't, or won't?
Where’s the line ? E.g. If someone asked me for a certified copy of my birth certificate, because of circumstances it would be an enormous slog. Expensive and time consuming. Does that count as can’t? How expensive does it have to be before it’s reasonable to call it “can’t”? I think the bar is lower than the semantics of the word imply. Can’t can mean “theoretically can’t”, but also “it’s unreasonable to do”.
Since the article states "the trigger for the latest sell-off is unclear" I'm really curious if somebody here could venture a guess about the reasons for the sudden drop. The Bitcoin Cash fork seems suspiciously correlated but is it big enough news to cause such a turmoil? Being a cryptocurrency-skeptic I won't pretend that I don't experience a little bit of schadenfreude when I see CC crash, however if I'm trying to…
ETH isn't doing well either, so there must be more than the BTC cash fork in play.
Earlier quoted context omitted.
Occam's Razor - could just be a symptom of the current stock market crash.
What stock market crash? Vanguard’s Total Market Index (VTI) is up 2% for the year, and only down 10% from its All Time High (excluding dividends): https://finance.yahoo.com/quote/vti Tech stocks aren’t the whole market.
Cryptocurrency crash will hopefully bring expectations back in line with reality. Legit blockchain projects will only have to deal with the stigma from being associated with a giant pump and dump when they approach VCs.
You meant to say "Legit distributed public ledger projects". Care to name a few?
Everything sells off this time of year. Nasdaq is down 7% on the month. It’s end of year profit-taking for tax purposes. As BTC has become completely mainstream now, this makes sense.
Earlier quoted context omitted.
What stock market crash? Vanguard’s Total Market Index (VTI) is up 2% for the year, and only down 10% from its All Time High (excluding dividends): https://finance.yahoo.com/quote/vti Tech stocks aren’t the whole market.
Even index stocks are in free fall right now. Check again. VOO has dropped 1.5% today, which is pretty bad for an index stock.
Uh, what? An index stock mirrors, as closely as possible, the market it's indexing. If the market goes down 1.5% - which is extremely common - so will VOO.
The legacy of Bitcoin should be studied to understand better how memes or semantic viruses are spreading through social groups and affects our inner representations or models of the world, trained by endless screaming streams of bullshit^W information we are forced to process. There is nothing more fascinating than this - how a global Ponzi Scheme based on a few memes about poorly understood abstract concepts unfolds…