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Bitcoin Plummets Below 40K

coindesk.com

61–70 of 91 posts

Re: Bitcoin Plummets Below 40K

#61

If it gets down to 1k again like a few years ago, I'll buy!

Sorry, but why? Because you think it will go up even thought the fundamentals of the product suck? Are you building castles in the air? Not to be rude, but bitcoin is slow and inefficient. It also has terrible privacy. It's getting replaced by other coins.

It's become the backbone of many new coins. It's basically a piece of infrastructure by this point. I don't think it's going away.

Re: Bitcoin Plummets Below 40K

#62
post #17

checks price 40.3k...yeah it really plummeted. Everyone who upvoted this is a FUDster

It lost 33% of its price in the last week. If you think the price is gonna go back up good for you, buy now and I hope it goes well for you. But pretending that isn't a plummet for any sort of investment or stock is just denying reality.

33% down is a lot on stock market but it's nothing unusual for bitcoin. People bought it for wrong reasons and now they couldn't handle it and sold their positions.

Re: Bitcoin Plummets Below 40K

#64
post #31

And I just purchased my first Bitcoins last week. *sigh*

buddy hold, looking at btc history these cycles repeat over and over - it will go up again. also, i highly recommend this guys channel: https://www.youtube.com/channel/UClgJyzwGs-GyaNxUHcLZrkg

You’re downvoted, but it’s true. Bitcoin might be a scam, not worth investing and used as a currency, but we will see it above 100k again. Might not be soon, but someone will dig it up and pump it, so that they can dump it again.

Re: Bitcoin Plummets Below 40K

#66
post #28

Earlier quoted context omitted.

It is all a scam. Buy when it's low for a few months, sell after a big run for a few months going down. Only suckers believe in it

How is this different from fiat currencies and stocks? Those go up and down all the time for no reason, or at least for irrational reasons. There's no reason why Bitcoin and other coins couldn't mature into a more stable up/down cycle to mirror those.

Fiat has central banks to keep them somewhat stable.

Stocks have companies who are producing actual value.

Re: Bitcoin Plummets Below 40K

#67
post #31

Earlier quoted context omitted.

buddy hold, looking at btc history these cycles repeat over and over - it will go up again. also, i highly recommend this guys channel: https://www.youtube.com/channel/UClgJyzwGs-GyaNxUHcLZrkg

You’re downvoted, but it’s true. Bitcoin might be a scam, not worth investing and used as a currency, but we will see it above 100k again. Might not be soon, but someone will dig it up and pump it, so that they can dump it again.

Technically, we'll not see it above 100K again because it wasn't there before. But it's possible it will go to 100K some day.

Re: Bitcoin Plummets Below 40K

#68
post #17

checks price 40.3k...yeah it really plummeted. Everyone who upvoted this is a FUDster

It lost 33% of its price in the last week. If you think the price is gonna go back up good for you, buy now and I hope it goes well for you. But pretending that isn't a plummet for any sort of investment or stock is just denying reality.

The stock market dropping 30% in a week is a major world catastrophe and makes the history books. Bitcoin dropping 30% in a week is a fun week.

Re: Bitcoin Plummets Below 40K

#69
post #66

Earlier quoted context omitted.

How is this different from fiat currencies and stocks? Those go up and down all the time for no reason, or at least for irrational reasons. There's no reason why Bitcoin and other coins couldn't mature into a more stable up/down cycle to mirror those.

Fiat has central banks to keep them somewhat stable. Stocks have companies who are producing actual value.

> Fiat has central banks to keep them somewhat stable.

That's part of my point. Fiat had decades to stabilise, digital currencies are basically newborns so it's not fair to expect them to pop out already matured and stable.

> Stocks have companies who are producing actual value.

Unless they don't (or their value is decoupled from meme/insider manipulation that artificially controls their prices), like GME or Tesla.

Re: Bitcoin Plummets Below 40K

#70
post #20

Earlier quoted context omitted.

Sorry, but why? Because you think it will go up even thought the fundamentals of the product suck? Are you building castles in the air? Not to be rude, but bitcoin is slow and inefficient. It also has terrible privacy. It's getting replaced by other coins.

> bitcoin is slow and inefficient Oh, come on. If it gains universal adoption, it is fast enough that every human being can make one transaction in their lifetime, maybe even two! What more do you want???

To be fair, that would actually be plenty for the lightning overlay network to function.
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