171–180 of 463 posts
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He's probably talking about the most recent drop. BTW, what bitcoin crash? I'm still up over 2000% ... /s
Obviously he's referring to the current value compared to the high last year. You know where the current price of bitcoin is over 75% less than it was last year... Any time something loses 75% of it's value (and still dropping) and you say, "what crash?", you're not fooling anyone but yourself. Even if you got into bitcoin on day one.
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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.
I found the hard drive from that computer a while ago, but there was no trace of the coins. There was no reason for me to keep them, after I'd finished playing with the software.
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Trading volume has dropped significantly over the last 6 months. Large holders have been patient waiting for new money to enter the market. Eventually, when the only activity is a few automated traders and the exchange liquidity provider, large holders are faced with opportunity costs of investing in something else and the limited liquidity the market can absorb as they exit. It's a domino effect as they see each oth…
This is also the result of the federal governments of the world, the US in particular, choking off all the fiat crypto exchanges with their expanded and draconian know your customer laws. As an anecdote, I didn't buy my monthly bitcoin purchase early this month because I've been (and still am) locked out of my ~5 year old coinbase account I use constantly because they are being required to require new forms of ID and…
The price has been bouncing off the 6k magic "resistence" for ages now. Each bounce reaching lower and lower highs. It was only a matter of time before the that energy disapated. Technical analysis of stocks and efficient markets is a fool's tool, but BTC is fool's money so TA is an efficient tool. Yes, I did explain this prediction half a year back to my BTC holding friends. As you can imagine; they ignored the advi…
> The price has been bouncing off the 6k magic "resistence" for ages now "Resistance" is from above, "support" is from below. Last week, the 6k USD / BTC price looked solid. Every time 6k was tested, the community would buy up BTC and the price would go back up. Today, we have blown through the 6k USD / BTC "Support" and selling has continued down, beyond the 5k mark. Its hard to say what the next support mark is. If…
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If I asked my mother what Reddit is right now, she'd have no idea what I was saying.
If your mother has never heard of Instagram, Netflix, eBay, or Yahoo, that doesn't mean nobody has heard of them. They're still almost as popular as Reddit.
Is there something useful that all the custom built bitcoin mining rigs can do now that it probably is less economical to use them to mine?
Nope. GPUs can be repurposed but the asics that are used for Bitcoin mining are expensive paperweights without demand for BTC.
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Yeah, KYC/AML is totally bad because of trying to actually prevent money being funnelled into crime organization etc. This is why I cant stand ignorant crypto-fans.
Even according to the IRS's own estimates, laws like Fatca would never pass a cost/benefit test. The implementation costs of such bureaucratic monstrosities is in the range of hundreds of billions, whereas the benefit is a few orders of magnitude lower. The established banks do not complain much about it because the high fixed cost of compliance disproportionally affects small firms, thereby protecting them from bein…
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.
"You're not going to see that happen again." I've heard that during the last 4 bear markets. Give it some years it always comes back stronger to absorb fresh money