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Bitcoin Drops Over $1,000 In Value Over 48 Hours (reuters.com)
sqorbit writes: Bitcoin dropped below $7,000 after hitting an all-time high. After the so-called "fork" was suspended, Bitcoin reached a peak of $7,888 around 1800 GMT on Wednesday before dropping down below $7,000. Some investors appear to be selling in order to buy "Bitcoin Cash" which was a split on August 1st. Bitcoin Cash reached $850.
OMG Ponies!
Is there any way to short bitcoin? Somebody could make a fortune!
I've abandoned my search for truth; now I'm just looking for some useful delusions.
A SIMS 4 character is the only one that could use bitcoin for toilet paper...
I've abandoned my search for truth; now I'm just looking for some useful delusions.
Thanks for the homework.
But no thanks.
It little behooves the best of us to comment on the rest of us.
How is this worthy for a /. thread? 5,000 other speculative bubble are inflating and deflating daily and bitcoin is usually at the top of the list.
We've seen this before.
https://en.wikipedia.org/wiki/...
Parasitic speculator.
It's a unique pyramid scheme. Once you figure it out, you can cash out and sell your spot in the pyramid. Just don't be the one holding the hot potato at the end.
Looks like somebody sold too much Bitcoins and bought too much Bitcoin Cash... These small-sized virtual currency markets are vulnerable to big investors. You sell BTC and you buy BCH and BTC dives while BCH rises... then you reverse the course...
No, BTC has no future. It just became the currency controlled by speculative capital without any real-world backing as the practical currency of daily goods exchange... Sooner or later we will need other solution. For normal people. For buying bread and toilet paper. :-) BTC is just for players.
Well, I've got to get back to work. When I stop rowing, the slave ship just goes in circles.
I just happened to see this today and while it's a long read it does a great job of explaining a hard to explain concept (crypto assets and decentralized applications). I thought I understood crypto currencies but after reading this I see a much bigger picture and why I should care.
"A person is smart. People are dumb, panicky dangerous animals and you know it." - K
Just stop it. Just fucking stop it. I don't give a fuck about Bitcoin.
Apparently you give a small fuck, because you took the time to go to the article page and post a comment. Someone who doesn't give a fuck would have stopped reading after the headline and moved on to the next story.
This isn't the usual headline of "Bitcoin goes up" or "Bitcoin goes down". The Bitcoin community has been trying to solve congestion on the Bitcoin blockchain, which is limited to 6 transactions per second, for years. For various political reasons, no solution has been proposed that reached "consensus," and as such gridlock was created, causing transaction fees to rise and confirmation times to increase. Bitcoin Cash forked off in August, specifically to solve these problems and return Bitcoin to its roots. It did this by increasing the transaction capacity by 8 and removing features that were antagonistic to using Bitcoin as an actual payment network (RBF & SegWit). It was initially disregarded by the hype-cycle media, but has wide grassroots support and important backers. After the recent cancellation of the 2x upgrade, which was scheduled to happen on Nov. 16, it became unclear how Bitcoin could ever grow to keep up with demand. Bitcoin Cash, on the other hand, had more capacity than the old Bitcoin would have had even if the cancelled upgrade had gone through.
This $1000 drop in Bitcoin and corresponding rise in Bitcoin Cash is potentially a turning point. Bitcoin isn't usable for actual payments due to high fees, slow transactions, and RBF allowing payments to be cancelled after services are rendered. People are buying into Bitcoin Cash in a big way. In fact, the 24 hour Volume on coinmarketcap.com shows Bitcoin Cash beating out Bitcoipn for the first time ever. It's truly exciting times.
This may be the beginning of "the flippenning", where Bitcoin Cash replaces Bitcoin as the gold standard of crypto. Or maybe not. Time will tell.
Time for a bubble pop.
This is not the biggest percent drop ever. Here's a 30% drop I found quickly googling.. It wouldn't surprise me if it has many double-digit percent changes up and down. It's well known to be volatile. Call us when it's been bouncing around at last year's price for a while. Then you know it's in a real bear market.
For all intensive purposes, "whom" is no longer a word. That begs the question, "who cares"?
"would suggest anyone who is tired of the stock market manipulation seriously consider this but do your homework first"
And yet you're too fucking blind to see the bitcoin manipulation happening right under your nose thanks to wealthy Chinese investors.
Shill spotted.
Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
Seriously? Let me know when people are using it for toilet paper.
Bitcoin has no physical existence. At least when the farmers had all been driven out and dysentery ravaged the Zimbabwean countryside you could use those famous trillion dollar bills as TP.
Bticoin has basically nothing to do with the price of GPUs.
You know what else is up?
Giggity.
#DeleteFacebook
I have no idea how to play poker.
May I join your game? I'll just learn as I go.
#DeleteFacebook
it's not just "wealthy chinese investors". it's almost everyone involved in bitcoin.
bitcoin is finance industry scam practice for little con-men - for basement dwellers who wish they had the resources to rip off everyone else on a huge scale like the big boys in the finance industry. they look with envy rather than outraged horror at the financial industry manipulations that leave other people bankrupt and homeless...they may not get to scam hundreds of billions and government bailouts as well but they get to play the same scams on a smaller scale. yippee!
I've already started using e-paper. The future is here!
sub f{($f)=@_;print"$f(q{$f});";}f(q{sub f{($f)=@_;print"$f(q{$f});";}f});
It's a unique pyramid scheme. Once you figure it out, you can cash out and sell your spot in the pyramid. Just don't be the one holding the hot potato at the end.
A bit like our existing banking systems then.
The title is technically true but take a look at the chart and see if this is quite the devastating crash they're talking about
https://www.coinbase.com/chart...
If you have an infinite growth economy, then a fixed resource limit (deflation) does not match with that economy so it increases in scarcity at the rate of economic growth and therefore in value; all other factors being equal. Obviously, at some point the rate of valuation exceeds other forms of investment so holding it smarter. (valuation > profit )
Investing in the economy keeps it moving and probably growing; it fights the economic becoming stagnant. A fixed economy with a cap on growth would fit better with fixed resources; then the valuation of the fixed resources would basically be flat. There wouldn't be incentive to hold them but then a stagnant economy would also have little return on investments in that economy either. Much of the motivations behind things being done today would be gone. Not to say that it wouldn't be possible to design an economic system which mirrors reality's fixed limits, it probably is possible... but we do not put any effort into finding something where a fixed currency would fit.
Eventually the whole mess will be unavoidable because of resource limitations. Massive die offs from over population etc, or simply a low birth rate becomes a human resource limitation. Automation and lack of jobs are going to be economically similar to a mass die off. If you do not work in the economy, you are economically dead. It's rather simple why people are exploring hand outs; it gives life to the economically dead. But as I said earlier, solve that and you still have a physical population limit.
Democracy Now! - uncensored, anti-establishment news
For investments, you want something that has a good stable return. In the economy, that is more fluid investing... Outside that, it's the valuation of something that just sits and has no economic value until it is sold.
Gold (minerals) or land (space.) They are deflationary... they are not too practical as currency. Same with any resource investment. Supply and Demand impact it's value; which is influenced by economic activity but it's not the sole driver unlike economic investments... which are less secure.
The problem is that a booming economy is going to return more on investing in it than a fixed resource and a poor economy is going to face increased competition with resource investments. If you wanted to measure an economy, you'd have to peg it to some fixed resources as a group to see it's actual progress; rather than just measuring relations to itself. Not easy to do this. But with us running out of resources but increasing demand it is not hard to see the economy will not be able to grow faster forever; before it collapses, it'll have huge problems competing with static investment (which will be part of the downfall as people pull out for more secure investments.)
Democracy Now! - uncensored, anti-establishment news
Just stop it. Just fucking stop it. I don't give a fuck about Bitcoin.
Apparently you give a small fuck, because you took the time to go to the article page and post a comment. Someone who doesn't give a fuck would have stopped reading after the headline and moved on to the next story.
Why do you give a fuck that he gives a small fuck? If you didn't give a fuck you wouldn't have bothered to comment that he gives a small fuck? Are you trying to create a big fuck to give?
Obviously he gives a fuck about receiving news about Bitcoin. He still doesn't give a fuck about Bitcoin itself.
I'm not sure how you could confuse these things. If someone who doesn't like cars gets shown photos of cars all the time by his friends he could ask them to stop showing him cars all the time without it meaning he suddenly gives a fuck about cars.
This is clearly the next step after the paperless office.
#naabhaprzrag, #sverubfr-000, #agi-fcbafberq, negvpyr[pynff*=' negvpyr-ary-'] { qvfcynl: abar !vzcbegnag; }
"it's not just "wealthy chinese investors". it's almost everyone involved in bitcoin."
If you bother checking where all the equipment is coming from - China. Who holds the most hash power? China. Who is dumping the most national currency into Bitcoin? China.
In other words, it's wealthy Chinese investors. 'Everyone else' is nothing more than their plaything right now for them to drain and move on.
Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
I do not know what the future will bring for Bitcoin and friends, but it seems to be clear that, currently, they are vehicles for speculators and crooks. And little more.
You have answered your own question. Are speculators and crooks going anywhere soon? The answer to that will help explain if Bitcoin has a future...
We would presumably have to spend something other than a penny, yes.
I hereby patent the unblockchain.
sub f{($f)=@_;print"$f(q{$f});";}f(q{sub f{($f)=@_;print"$f(q{$f});";}f});