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

Post by natmaka » Tue, Nov 20, 2018, 4:39 PM UTC

ahakki wrote: post #148

superkuh wrote: post #66

Earlier quoted context omitted.

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…

Damn bro I‘m rly sorry. I thought Bitcoin was a decentralized system free of government influence. That was the USP, right?

Post by Scoundreller » Tue, Nov 20, 2018, 4:40 PM UTC

Novashi wrote: post #134

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…

It seems like the bitcoin selloff coincided nicely with the general stock market selloff. I think someone wanted out of bitcoin after staring at a flat price line for 6 months.

Post by almost_usual » Tue, Nov 20, 2018, 4:50 PM UTC

kart23 wrote: post #156

Scoundreller wrote: post #90

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.

Aaaaand vti is down for the year. Imo stock market has just crashed.

Post by joering2 » Tue, Nov 20, 2018, 4:52 PM UTC

simias wrote: post #162

Hermel wrote: post #93

Earlier quoted context omitted.

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…

So I know next to nothing about these regulations but what do you mean by "cost/benefit" exactly? Surely if these rules are meant to fight (directly or indirectly) organized crime then you can't just judge them on the amount of money saved? If you spend $10 millions to prevent $1 million to reach a terrorist organization, can't you consider it money well spent?

Post by [deleted] » Tue, Nov 20, 2018, 4:56 PM UTC

matthewbauer wrote: post #266

lhl wrote: post #224

Earlier quoted context omitted.

To me, it’s obvious that the Bitcoin Cash “hash war” has been what’s triggered the fall of the 5K support level (and to me, it’s telling that 200 messages in, no one has really even mentioned it). The contentious fork has been very disruptive, causing BCH trading to be halted and lowering trading volume across the board. At the same time you have a huge redeployment in mining resources, up to 4exa on the Bitcoin.com…

I’ve never understood the commonly held view that miners can effect the price. The distribution of coins is on a fixed schedule it shouldn’t matter how many miners there are. Price should not change from any of that.