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Thread: RIP Bitcoin

  1. #8351
    Excommunicated baldrick's Avatar
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    Firo - aka Zcoin suffered a 51% attack

  2. #8352
    Thailand Expat David48atTD's Avatar
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    Risk of bitcoin regulation

    The world's most popular cryptocurrency, Bitcoin, had fallen sharply (-7.7pc) to $US32,508.
    It has lost about 27 per cent of its value after touching a record high (above $US42,000) on January 8.

    The pullback comes amid growing concerns that bitcoin is one of a number of financial market price bubbles.
    Fears that the Biden administration could attempt to regulate cryptocurrencies have also weighed on sentiment, traders said.
    During a Senate hearing on Tuesday, Janet Yellen, Biden's nominee to head the US Treasury, expressed concerns that cryptocurrencies could be used to finance illegal activities.

    "I think many are used, at least in a transactions sense, mainly for illicit financing," said Dr Yellen, who is also the former chair of the US Federal Reserve.

    "And I think we really need to examine ways in which we can curtail their use and make sure that money laundering does not occur through these channels."

    Joseph Edwards of cryptocurrency broker Enigma Securities said these comments had a substantial impact.
    "The action over the last 36 hours or so has largely been rippling outwards from the Janet Yellen comments on crypto," he said, adding that it was still unclear exactly what, if any, moves the Biden administration would take.

    "We do think it's probably still just a lapse in momentum rather than a sea change, though," he said.

    The declines come amid signs that more institutional investors are taking steps to invest in the cryptocurrency.
    BlackRock, the world's largest asset manager, plans to add bitcoin futures to the list of eligible investments for two of its funds, company filings on Wednesday showed.

    ABC/Reuters
    Someone is sitting in the shade today because someone planted a tree a long time ago ...


  3. #8353
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    Just reading the OP, and thinking, mmm.

  4. #8354
    I Amn't In Jail PlanK's Avatar
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    Quote Originally Posted by David48atTD View Post
    Bitcoin, had fallen sharply (-7.7pc)
    That's not a sharp fall, that's a slow day in crypto.
    BTC down 16% in the last 24 hours. Prolly due to a double spend that did or didn't happen.

  5. #8355
    Thailand Expat jabir's Avatar
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    No big deal, there's a neverending struggle between the bulls and the bears, we're still in a bull market and there's nothing unusual with a bear trend in a bull market. Something as ever for the critics; we stay in the bull market all the way down to confirmation that the bears have it, at 24k.

    Right now we're looking at a shakeout, whales picking up cheap coins from the weak hands, and newbies that entered during the runup to 42k hoping to make a few $$ profit, who are easily overwhelmed and panicked by the volatility, which is perfectly normal for btc. In its short lifetime, btc has gone through several 40-50% corrections, 85% in 2018, and each time consolidated to bounce back to new highs.

    This one could be a fake correction, in which case the whales believe enough weak hands have been shaken out so let's fire up again; or hopefully it's for real, and we go down down down to 24-23k. You don't need to be an expert to hold an opinion, and mine says a rested btc at 25k raring to go whoosh again, is healthier than a tired btc at its ATH after a prolonged parabolic rise.

    But bottom line, anyone hodling btc is in a win-win; if you trade, you will earn or lose staking a small % of your coin while your mother lode stays untouched in your hodl wallet; if you don't trade, happy to hodl, and having seen its price performance, it doesn't matter to you where btc goes when you are confident it will 2x again from its ATH of 42k, or >3x from 25k, this year.

  6. #8356
    Excommunicated baldrick's Avatar
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    Quote Originally Posted by jabir View Post
    You don't need to be an expert to hold an opinion,
    my opinion is BTC is in for a bit of a revelation

    the whitepaper legal wrangles for one

    a long term bitcorn developer leaving - The widening gyre – Laanwj's blog – Randomness

    its limitations are bubbling to the surface

  7. #8357
    Thailand Expat jabir's Avatar
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    Fair enough, though that leaves me still hoping to top up at another -20% with what I sold earlier, but good that some are still capable of disagreeing without the statutory cnutishness.

  8. #8358
    Thailand Expat jabir's Avatar
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    RIP Bitcoin-image_2021-01-22_151401-png

  9. #8359
    I Amn't In Jail PlanK's Avatar
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    Quote Originally Posted by baldrick View Post
    its limitations are bubbling to the surface
    Again.

    People will forget the technical difficulties once the line starts going back up.

  10. #8360
    Thailand Expat jabir's Avatar
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    While Square, BlackRock, SkyBridge and others file more btc purchases, with others temporarily prevented from purchasing direct by their investment charters, Grayscale reports another 16,244 for $600m in 24 hours, on back of the convenient fake double-spend story that scared so many into selling; now they hold 581644, one of the larger black holes that are increasing scarcity, and which won't be releasing any btc before 7 digits, if then.

    Almost but not quite; with a vast number of btc at their disposal (+eth/xrp) and institutional billions queuing up for more, will be no surprise that Grayscale and others will use their thump to periodically shake out more weak hands.

    Scary scenario if the endgame produces a btc cartel (<10 years).

  11. #8361
    Thailand Expat jabir's Avatar
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    That does it, these people KNOW...I'm outa here!

  12. #8362
    I Amn't In Jail PlanK's Avatar
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    Dogecoin up %400+ based on rising popularity of the fuck-over the hedge funds movement.

  13. #8363
    Excommunicated baldrick's Avatar
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    Quote Originally Posted by jabir View Post
    That does it, these people KNOW...I'm outa here!
    it is logical - evolution to adapt - bitcoins problem is not being able to adapt without the consensus mechanism which leads to the acrimonious issues they have had in the past which leads to forks

    or else you have the centralised committee coins/token who will change by decree to benefit the large holders who have influence and fcuk the rest even if the minnows hold a majority collectively

    for a real decentralised coin you must have effective governance

    Quote Originally Posted by Plan B View Post
    Dogecoin up %400+ based on rising popularity of the fuck-over the hedge funds movement.
    there will be pain when it dumps - no development for 6 years because it is just a meme coin

  14. #8364
    I Amn't In Jail PlanK's Avatar
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    Forking 'ell.

    Eddie's taking this all a bit too seriously. He's gone and setup an exchange in the Middle East.


    https://twitter.com/hashtag/luluexchange?lang=en

  15. #8365
    Making people dance. :-)
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    Quote Originally Posted by Plan B View Post
    Eddie's taking this all a bit too seriously.
    Investing my trusting customer's money in the best way possible is very important to me.

  16. #8366
    Thailand Expat jabir's Avatar
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    Quote Originally Posted by Plan B View Post
    Dogecoin up %400+ based on rising popularity of the fuck-over the hedge funds movement.
    DOGE, a coin created for fun, is now 8th in terms of market cap. Bizarre, and many investors are going to get scorched.

    Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap

  17. #8367
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    Ukan Kizmiaz's Avatar
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    bit of a roller coaster today ...

  18. #8368
    Thailand Expat jabir's Avatar
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    bitcoin jumped 15% to >35k within minutes of Musk mentioning in a tweet, just one word, bitcoin. Several institutions are also considering to join those already gathering bitcoin.

    DOGE, a joke coin, jumped 300% within minutes of him showing a mag cover of a whippet in a red uniform; most of that lot will get stung.

  19. #8369
    I Amn't In Jail PlanK's Avatar
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    Not sure what's happening, but WSB WallStreetBets coin just topped CMC for top coin knocking BTC into second place.

  20. #8370
    I Amn't In Jail PlanK's Avatar
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    It's almost like Joke investments are taking over the crypto & stock markets just to show that the entire system is a jo...

    Ohhhhhhhhhhhhh... I get it.

  21. #8371
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    Ukan Kizmiaz's Avatar
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    I saw doge at AUd0.10 a couple of hours ago - now back to 5-6cents - that gotta be painful for some

  22. #8372
    I Amn't In Jail PlanK's Avatar
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    ^
    Still up %295 in the last 24 hours.

  23. #8373
    Excommunicated baldrick's Avatar
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  24. #8374
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    Ukan Kizmiaz's Avatar
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    I had a look at he doge reddit - oh boy its jim jones like cult insanity in there.

    maybe the time is coming to buy a few - try to pick up a couple of $ on the peaks and troughs as it plummets back to earth.

  25. #8375
    Thailand Expat jabir's Avatar
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