I have been telling people for years, Bitcoin was and is a ponzi pyramid scheme. An elaborate one as it was able to last for so long which is impressive. But nonetheless it was just that...a scheme. There was no way it could continue with it's insane spike from last year.

Ask yourself the most basic question, what would makes this currency spike to ungodly values as it has in the last year? The answer is manipulation and falsifying the value of a currency that is theoretically unsustainable when other conventional currencies US dollar/Yen/Sterling/Euro cannot increase in value at the rate that Bitcoin was doing. And those currencies have been around for ages, they are trusted currencies that are traded worldwide. If you can wrap your head around that, you will know that Bitcoin and all these Crytocurrencies are a scheme. And like all schemes, eventually the bubble will burst and you will see a sharp downward spike like you are starting to see with Bitcoin.

All the bitcoin nuthuggers and experts cannot give you a legitimate reason why the currency has taken a tumble because they are either in denial or they are in on the scheme. The whole "everyone was withdrawing money for the holidays" excuse Crytocurrency experts was giving for the devaluation during the christmas/new years holidays doesn't fly because it's still dropping like a brick now. Considering a lot of people are still foolish enough to invest more money into Bitcoin now thinking it will rise again. Shouldn't the Bitcoin be rising in value then from all of the "new" money coming in vs the money that is being withdrawn? Or at the very least, the devaluation should be slower rather than the rapid decline we are seeing now?

Use common sense and you will always see why guys like Jerry Jones, Bill Gates, Larry Ellison, Oprah Winfrey have not poured their networth into Bitcoin. If there is one thing Billionaires love is to make more money yet, they are not foolish enough to buy into the Bitcoin hype...ask yourself why..

my god i recognize that

http://www.reactiongifs.com/wp-conte...07/shivers.gif

yes but the oracle can...

it is mostly a combination of 2 factors...

the first was the obvious skyrocket in price...smart people cash out

the second and more important reason was "institutional money" or larger investors got in around summer to take the money from the "hodlers" with a pump and dump...

the drop in price started around the 20th of december...trump announced the tax cuts around this period and the writing was on the wall: US stocks will make a short term gain and are a safe bet...so they started cashing out while the sheep were like "BTC will hit 50K in january" :1orglaugh:1orglaugh:1orglaugh

the market is designed to take money from the crowds and distribute it to the few...if you do what everybody else is doing you will get what everybody else is getting = fucked...unless you invest in something that has actual intrinsic value, then this will go up and down and up again...

at some point bitcoin will become too cheap to ignore and people will buy in again...8.5K just got breached and the europeans just woke up and they are well known bears...I see a possible 7K by monday but I can not be sure it is so hard to call it right now...sub 400 billion total crypto market cap at the moment...

sweet sweet deals on shitcoins...I want to die for not knowing about digixDAO earlier...mother fucker is up 60%+ in a week...I am not cashing out next time if the DAO keeps kicking ass...

Bloomberg TV just said based on technical analysis, the next stop for Bitcoin is the 7000 handle. Commentary to follow at 6:02am EST.

BTC is currently at $8,165.

VERY TRUE !!!
they also wanted to stone me when i told the at the highest point that this is now the change.

i mean it will not crash completely but it will go back to where a public gambling can be.
5- 10 dollars or something like that.

Nouriel Roubini on Bloomberg TV just said "Bitcoin is the mother of all bubbles.", "Bitcoin is worse than tulip mania." and "Cryptocurrencies are a scam.".

"Bitcoin is the biggest Ponzi scheme in human history."
"All these people are charlatans, swindlers."

https://pbs.twimg.com/media/DVBpY1CX0AAcu3S.jpg:large

Isn't it the time to buy then? It might grow again.

Yes, yes it is although you might want to wait a little longer.

I do not agree with statement how it's ponzi scheme. Most accurate description of crypto bubble would
be "stock hype" where stock value can skyrocket due "promising company organization" but once reality come stock value drop to minimum and people who bought when it was hype lose money.
Stocks and crypto is based on same principle, with only difference how stock price can be affected by company business moves. Funny how you mention Bill Gates, since microsoft accept bitcoin.

People who invested while it was 15k-20k was stupid, because even for bitcoin standards that was unrealisticly too fast growth.If that growth was going slowly during entire year and not in a single month, then it would be more stable.

It's just smashed thru the 8k mark dropping like a lead brick BOOM

Good time to buy some more :)

You're comparing apples and oranges. Stocks (usually) represent shares in companies that have sales, profits and various assets with a tangible value. The intrinisic value of crypto is zero. When Bitcoin was at its $19k+ peak, its market value was absurd and greater than Walmart, the biggest retailer in the world.

That still does not change fact how stock value can skyrocket for no other reason but hype.
But i know what you saying here , how crypto does not have a "base" value when you remove value caused by hype. But the thing is, bitcoin was supposed to be an alternative payment system, not a investment currency.

it could crash to 10, where´s the base value?


You can´t buy until it´s levelled out, you´d be mental to buy now with it dropping out so much :helpme

good thing I sold my eth still on 1100 yesterday

stop crying about cryptos.
i am sure for all of you it was not your last money you invest.

Ripple is down to 70c :Oh crap

and the next one who is crying

^ Nope. Just observing.

it´s crazy, every coin´s dropping. Naga´s back to just over 1, it started at 1 the other week...

BTC 8k, ETH dropping its belly and ripple, wtf!

I can´t see anyone winning here by holding onto anything, selling now and then purchasing when it´s dropped to the bottom is about the only good thing that can come from this :thumbsup

Let the dust settle, don?t try to catch a falling knife and average down :thumbsup

converted it to fiat so... :) but yeah ethereum seemed like a safe harbour 'til yesterday x) this gold project Digix DAO seems quite stable though, pretty resistant to the whole downfall... it jumped up 100% today for like an hour x) precious game to play for traders while the rest of the market is crashing :D

I'm going on a limb and suggesting we are hitting the bottom.
The way I see it it started going "mental" around the beginning of Nov when bitcoin was around $7k it hit an ATH on 17th Nov of $7888 (I screenshoted it).
So I think the bottom would be around $7500 and that would be a realistic price before all the hype.
...So, expect another $1k dip before levelling out.

Then I think it will be pretty stagnant for a long time (over a year) although I do think sometime late 2018 or 2019 we will pass the current ATH.

Crypto noobs
https://i.imgur.com/x3VIzWX.jpg




Me
https://i.imgur.com/5JEYC2F.jpg

Yes, I understand that but my fault, I really didn't explain myself well. I meant that I lost less than if I had all my cash in bitcoin.

Ripple is going up to .89 cents.

total crypto market cap up 100 billion in 2 hours btc at 9K again...what an orchestrated pump and dump LOL congratz to the winners :1orglaugh:1orglaugh:1orglaugh

After February Chinese New years festival , BTC will be raised again.

:1orglaugh:1orglaugh:1orglaugh:1orglaugh:1orglaugh

Did I fuck up or what for not selling at 19K. Was so tempting. Good thing I bought most of it at 3K. How long before it drops below 3K thought?

8.5K is the new 50K :1orglaugh:1orglaugh:1orglaugh

Sell on drop, sounds like a great investment plan. :1orglaugh:1orglaugh

:thumbsup:thumbsup:thumbsup:1orglaugh:1orglaugh

if it drops to 100, then it may have been better to sell at 9k, just wishing I sold at 15k before Christmas :2 cents:

Never invest what you cannot comfortably afford to LOSE. It's like going to Las Vegas.

Whatever I put in already I consider "lost". One day a few years from now I will check in and see what's what. Short-term buying/selling is for chumps, losers and panic-stricken wannabe pretenders.

BTC 4 LIFE!!!

Knowing this just made my entire weekend! :thumbsup

Unfortunately you can't even sell at 9k now.

My advice: put in a sell order for 9,300 and end the madness. Catch the next bounce up because they're won't be many more.

Then again: I know A LOT about pizza. Cryptocurrency pump and dumps, not so much.

Hope it works out for you.