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No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

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Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#231

Post by ucha »

aviv wrote: post #214
jeletonskelly wrote: post #34

Earlier quoted context omitted.

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…

The Saudis facing confiscation and raids back home dumped their cash into Bitcoin which fueled the rally to $20k. They are now pulling the money out.

I never heard this one... what do you have to back it up?

Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#232

Post by Nursie »

emerongi wrote: post #23

Bitcoin still has a $77B market cap. This is bigger than many well-known and long-living companies. Let's be real - Bitcoin still has a long way to drop.

> This is bigger than many well-known and long-living companies

And not in any way comparable, as it is merely the spot price multiplied by the supply, not any sort of reflection of total value or productivity.

Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#233

Post by kiriakasis »

jeletonskelly wrote: post #205
Daishiman wrote: post #183

Earlier quoted context omitted.

I have yet to see a single blockchain project that's actually interesting and worthy of anyone's attention.

I think secondary markets could benefit from a distributed trusted database with smart contracts. I also think that behind the scenes on wall street there are some interesting things around securities settlement, something that is very time consuming and it's handled with some antiquated technology. If securities trades are settled faster and ownership is more easily verified it could lead to some very interesting sh…

The problem with smart contracts is that you settle for a "all bugs are feature" solution.

Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#234

Post by dragonwriter »

fweespeech wrote: post #167
scient wrote: post #74

Earlier quoted context omitted.

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.

A) Large criminal organizations bypass KYC/AML/ABC just fine. B) Low-level crooks and privacy minded folks are the ones that get caught. C) Cost of compliance with KYC/AML/ABC is greater than the money recovered. https://www.forbes.com/sites/francescoppola/2018/09/30/the-b... > In that connection, a senior employee from the correspondent bank in question assessed that out of ten non-resident customers from the Estoni…

> Low-level crooks and privacy minded folks are the ones that get caught

Low-level crooks getting caught is how higher-level crooks get caught.

> Cost of compliance with KYC/AML/ABC is greater than the money recovered.

Recovering money isn't even the main overt point.

Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#235

Post by Nursie »

sodafountan wrote: post #102
mbreese wrote: post #47

Earlier quoted context omitted.

They don’t always recover. It’s hard to recover when you are a commodity that doesn’t have any inherent utility other than being a method for completing transactions. Also - Tulips.

It's a lot easier to recover when a recovery mechanism is built in - aka the halving. We're a solid year and a half away from that event happening, it'll go lower than this in that time but once the new supply restricts it'll make its slow ascent back up, people will see the opportunity and the demand will skyrocket again. I say this a lot, it's helpful to think of bitcoin as an algorithm, I just see this pattern pla…

This only works if demand continues at all. "The halving" is of little consequence if nobody cares.

Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#237

Post by olivermarks »

aviv wrote: post #214
jeletonskelly wrote: post #34

Earlier quoted context omitted.

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…

The Saudis facing confiscation and raids back home dumped their cash into Bitcoin which fueled the rally to $20k. They are now pulling the money out.

The vast majority of cryptocurrency transactions are in Asia, meaning China, Singapore & Japan according to a sharespost webinar I tuned in to last week. Getting money out of China has been a driver of cryptocurrencies in 2017 and early 2018, with little utility other than moving money around to invest in safer havens.

Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#238

Post by tomclive »

doubt_me wrote: post #30
overcast wrote: post #13

Earlier quoted context omitted.

Innovators. No one really heard of Bitcoin prior to the $1000 pump.

Reddit heard plenty before 1000$ I was there the week it was released. Lost 100 bitcoins to a hard drive crash and never looked back. They use to literally hand them out like candy. Mt gox happened and I never took it seriously ever again.

I lost a batch on MtGox but it looks like I might get something back.

I'm quite grateful the trustee sold off a few hundred million dollars worth at around $12k. At least there are some funds available to pay out to creditors.

Re: No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250

#240

Post by freeflight »

kiriakasis wrote: post #149
antidesitter wrote: post #113

Earlier quoted context omitted.

I bet you also can’t stand people who oppose mass surveillance. Those ignorant people! Don’t they understand the government is just trying to prevent crime?

Money is by far a more delicate topic.

I think it easily falls under the same umbrella.

Financial privacy, especially from the state, is the ultimate form of privacy.

There's a reason we have had bank secrecy [0] a long time before anything like the modern Internet-based privacy movements, with their much more expanded definitions, came along. Heck, some countries based a whole lot of their appeal on the strength of said bank secrecy laws, like Switzerland.

[0] https://en.wikipedia.org/wiki/Bank_secrecy

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