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Bitcoin Tumbles Most in Two Weeks Amid South Korea Hack (bloomberg.com)
Bitcoin extended losses for a third day, tumbling as much as 6 percent Sunday as South Korean cryptocurrency exchange Coinrail said there was a "cyber intrusion" in its system. From a report: The largest cryptocurrency declined 4.6 percent to $7,277 as of 10 a.m. time, the biggest drop since May 23, according to data compiled by Bloomberg from Bitstamp pricing. That widens Bitcoin's losses for the year to 49 percent. Peer cryptocurrencies Ethereum and Ripple fell 5 percent and 6.6 percent, respectively.
Nope, few people are buying Bitcoin anymore. That's why the value has dropped in half in the last six months.
All widely traded cryptocurrencies have been trending downward since the crazy peak last December. There have been multiple larger events where values dropped precipitously without definable causes. Bitcoin and it's associated cryptocurrencies are a racket wherein people want to get rich by merely transferring money from others to themselves. There is no investment behind purchasing, it's all just taking.
Tell me when it really crashes and who's left holding the bag. Until then, shut up with this crap.
Replace Bitcoin with "Precious Metals (Bullion)". Investments are risky. Don't invest if you don't know how to. Don't invest what you can't afford to lose. People don't get rich without taking educated risks.
Mike @ The Geek Pub. Let's Make Stuff!
Forget claiming they are like tulips, cryptocurrencies are worse than tulips. You can plant a tulip and it can reproduce with no additional effort. Cryptocurrencies and their network have to be maintained with other resources. Not only that but 51% attacks actually happen so your cryptocurrency may just vanish one day.
Anons need not reply. Questions end with a question mark.