Bitcoin and others falling, falling, falling...
 

don't worry its only a market correction, bouncing by this weekend for shure

When they hit a buck each I will buy ...

Aside from gambling, what is ' backing ' the value of Bitcoin ?

Seriously ...

I was thinking low to mid 9's on bitcoin would be where it settles.. As in right about now.. Not so sure now though... There's going to be a lot of new money afraid to step in or back in so this may be a bit worse than everyone might think.

the cryptos are very volatile for now, as we see with this South Korea issue, maybe in the future they will be more stable

Its the thing for the future, but i think without any backbone it?s dangerous market

It's not just South Korea cracking down on cryptocurrencies. China has cracked down on cryptocurrencies as well.

When you deal in BTC or any cryptocurrency, you take a gamble. Prices are not guaranteed value can go up or down.

The exchanges need to ban the trading bots.. But then again, the exchanges themselves are using market maker bots to float new coins on the the market as an added service so they would have to stop even themselves from using them..

There's big money at work here (government / central bank / wall st) and I think the ultimate goal is regulation which will lead to centralization in the market anyway.

Kodak is doing a first? SEC regulated ICO on January 31st...

They are earning money from trades via fee's, why would they do that? :1orglaugh

They won't that's why the pump and dump and downward trend will continue on...

btc is already a bit higher than this morning....

NOTHING !!!!
or less than nothing !

You are correct sir, but it won't be BTC

Nothing. I think...

The article says it sparked a panic sell-off. This makes sense if its hard to get actual money in SK and if they charge the 70% premium charge is true. No wonder people paniced.

But this is true of any stock too is it not?

But aren't bots allowed to trade on the NYSE and others?

Yup. It's up from $9500 at around 11am to Just over $10,000 USD now (at 12:30pm eastern time), so.... time to dance!

https://78.media.tumblr.com/tumblr_m...28oeo1_500.gif

What's backing the US dollar? Not gold or anything tangible, it's all printed money. Same thing. Oh wait, there's "insurance" from the Fed. Oh ok. LOL

There's no guarantee in ANY kind of investing. Not the Stock Market, T Bills....that's why you always hear the CYA (Cover Your Ass) legal language "past performance does not guarantee future results".

BTC stands for Balls To Conquer.
Get out if you got no balls people. :D

NYSE=Centralized/regulated exchange... Crypto=decentralized/unregulated.. In addition to the bots pumping and dumping the coins on one exchange they are also arbitrating coins between multiple exchanges.. As I mentioned in another thread, the reason the SEC came to be is because of what you now see happening in the crypto market. Pump and dumps.. If governments ever wanted to make you beg for control they would just pump and dump the crypto market.

Faith.
Just like any other currency.

coiners be like:

https://vignette.wikia.nocookie.net/...20160518003645

No that's not what I meant.

If I wanted to buy and sell stocks automatically, meaning, I want to sell 1000 shares of Stock A when it climbs to $5.00, and I want to buy 1000 shares of stock A automatically when it drops to $3.00, isn't that a bot? And isn't that allowed?


Nothing backs coin, but what backs the value of coin, is how much people will pay for it.

For example, if you buy coin today expecting to make money with it, it's because you think people will pay more for it tomorrow. If you have coin today, you would want to sell it today if you think people will only pay less for it tomorrow.

Hey Mark! You stupid-good-looking...

BTC is now at $10900 and change, up $1400 since 10am this morning. Let's hope it keeps climbing so I don't have to eat my cats.

Yes but again it's on one exchange... With crypto you have a bot buying for $3 on one exchange and selling for $3.50 on another.. When you have shitloads of people doing this or even a few with large bankrolls eventually there's nowhere to go but down.

A wild variation in value of BTC will only lead to it's rejection of acceptance for real goods and services.
For what you accept today for your goods may be worth 20% less in buying power when you go to spend it.
Many retailers have stopped accepting it already.

So, if you are using it as a investment tool over a alternative currency, good luck with that.
Just like the stock market, Seems nobody ever makes much money because they do not know when to get out. Mainly because they do not understand why it goes up and down to begin with.
Add to this the fact it is a unregulated currency. That allows it to be manipulated from the outside without your knowledge and without offense. So it's almost inviting to manipulate without fear of criminal charges.

Some of you may have made money and cashed out. Good for you. Profits have been realized. Others will put it back in in the hopes of duplicating that event. Good luck as at some point, whatever patterns you are following will smash. That is the art of the manipulation.

Edit: oh... don't forget for those in the US, capital gains tax rate does apply to you for your profits.

The cost of electricity?

yeah but that is not real price

That's a negative..

I cashed out all my other coins and put them into Bitcoin. I didn't lose too much, only like $40.00, but I have to say it's pretty fun to watch these idiots on Youtube talk crypto with no backing to their claim.

One thing that I was lacking in life was: investing in stocks. I was sitting around in a daze and was buying ethereum, cashing it out, sitting on it and trying to make extra. But, I was like lets tap into stocks..

But those $5000 ethereum miners are cool eh

China are the master manipulators, smart :thumbsup

I'm detecting some cynicism in this thread. Remember the buy low, sell high thing? Well here we are. You won't get a better opportunity to get on the Bitcoin train than now.

Few hours ago I checked coinmarket cap site and almost every crypto was in the green in terms of "last 24 hours".

Time to buy!!!

We got some pretty awesome crypto CFD offers if any of you interested in milking this cow :)

See sig!

FAITH + MATHEMATICS

more than EUR or USD, as these are only based on faith and "the longtime custom"

It's value is that it is hidden, no tax, and you can spend on illegal things anonymously. :2 cents: I can be wrong though..

not really - at least real money is backed with a production and the value will always depend on the trust of a whole country.
real money is not that easy to influence just because people want to buy a lot of it.
you saw that in switzerland when they bought euro to keep the swiss franc low.
after they stopped this programm the swiss franc balanced out by the normal market.

countries can also pay their dept with trades and it is not easy to run into a complete bancruptcy (which would still be in the responsibility of the legal successor)

crypto is nothing else than hot air - because if nobody buys them any more (simply because they are not need for nothing) they are on zero and NOBODY will sign responsable.
if banks or even countries would come up with cryptos it would be different. but private market will not work on long term - all what happend here was a very very very big money laundry where billions of black money was washed and changed into clean REAL money.

that´s why the governments of many countries have closed their eyes up to now because it will bring money back into the tax stream and the lost at the end is the black money
what went out of the market with a big bang.

it is like all this black money on a big mound - you buy it from the owner with your clean cash and after all is sold somebody burns the mound of blackmoney down.
this is the smartest and easiest way for all countries to resolve this problem and they will never get blamed for it.

it seems that all coins started rising this morning, we will see what will happen during the day...

it will still be volatile because there is still a lot dark money to wash :1orglaugh

but the trend is not to oversee - i would assume in one year on 5 dollar.

Yep since the beginning of the week, crypto currencies have corrected severely and the fall is accelerating with declines of around 20%. Result, after reaching a record of $ 834 billion in capitalization in early January, the 1450 virtual currencies identified by the site Coinmarketcap are now worth around 536 billion dollars so a fucking drop of 35.7%. :helpme

few things:
a) gold, diamonds - why they even have value ? because people put trust in them. Just like picasso paintings
b) money currently is not backed by anything and you know about it. its not the time of DM anymore, and not the time before 1970s. its 2017 and current monetary system is going to finish soon...look at the total value of assets in the world and the total amount of debt..now, look at the total value of coins...its just small percentage
c) I agree that its somehow bubble. but more shops accepts cryptocurrencies these days than few years ago. give it some time i guess....
d) yes i agree that black money there is involved for sure. just like in casinos and good old laundromats/ washing machines :):)
e) dont forget about MATH once again - "good" coins at least need some work to be done to mine them. work + electricity cost..so this is the value + what people put into it
f) the idea of "good" coins is to be decentralized and based on math. not like Ripple for example and all these shit coins/ tokens

they are goods even used in the industry - so they will always be need.

nope - money always represents the value of goods in a market (at least it should and it is not always accurate)

if there is more money than goods the money will lose value if there are more goods than money the value will increase. marketing knowledge first school lesson.

before you compare that you always have to know WHAT MONEY IS.
money is representing a production.
what value would a crypto have if not the value of money?
with what you want to compare it then?

even debts are values (for future productions).

just imagine what is the logic consequence of thousands of cryptos and even thousands coming up. this would mean that every country would only have to print money and all is fine. but if countries do that the value of the money decrease - and THIS is a natural
control.


sure it is a bubble and sure you can make money with it when you are smart enough to understand what happens and when the time comes leave the sinking ship.

SURE is that at the end of the bubble many many white trillions will be in the hands of people who have now many many black trillions - and change them for white trillions.
the lost at the end will be the black money. that will be gone. and the white money have changed from the hands of the believers into the hands of the smarts.
something like a "black money lost" is not existing and it will not hit the economy.

means the one who lost it have now a chance to work and get their white money back.
it is that simple.
how can energy costs increase the value when you produce a product with no value with it?

that´s what i told you IS pure maths and the one who found this way was one with a VERY smart brain.

i totally agree with that - but this coins will either come from big banks or countries.
and they will be controlled on every transaction.

no country can do anything like that with hard money - that´s why they like the idea.


what we see now is an inspiration. it is a model of a new house - but you will not be able to live in the model.

reliable cryptos will be nothing else than money on a credit card.
just with MUCH less costs produced and better for the environment.

It is hidden only if you use your own hardware wallet and receive bitcoin anonymously .

That is correct, crypto is based 100% on supply and demand rule. What i noticed , people think how if a cryptocoin announce good news, like "we partnered with blabla, that will immediately raise price but it's not really case, news could increase demand and as final result increase price, but it's not direct correlation.

^^ no wonder the lost establishment slave 'thinks' this.

thommy, why don't you ask yourself what exactly is backing the USD?

Bitcoin mining is not production?

https://en.wikipedia.org/wiki/Fiat_money

"Fiat money is a currency without intrinsic value established as money, often by government regulation. It has an assigned value only because the government uses its power to enforce the value of a fiat currency or because the exchanging parties agree to its value."

in my opinion crypto is still better because it canno't be printed.

always thought that US Fiat is based on petrol (hence name petrodollars) and i thoght US need constantly fight for it, starting wars to keep it flowing but still from what i read they print a lot additional dollars anyway.

now when it comes to crypto, there is no new war needed to keep it's value - people's demands are enough.

personally i believe we are taking closer step to cyberpunk i believe crypto is revolution and it becomes because something needed to be done with banking system which parasites on humanity.

Whelp, time to buy, then. It will bounce back up, considering how wildly fluctuating it is. I wouldn't worry too much.

Yes that is definitive advantage of crypto, cannot be printed, cannot be directly manipulated (except by massive trading) . But dont know why is such a hate for banks - they are "banksters", but only if you allow them to fuck you, if you dont use their services which will fuck you then banks are quite fine.

banks are usually located in nice architecture which is looking good - this is only good that comes from banks.

kinda hard to know all tricks that banks are using, i'm usually considered myself as above average intelligent person, yet i've failed with banks here example:

few years back when i was in UK i've established account at barclays bank, dude ask me if i want monthly standing to my save account - means every month one specific day there will be 50 pounds transfered from my main account to my savings account - why not, nothing bad in it?

two months later i've missed few pounds that should be automatically transferred from my main account to savings.

bank penalized me for 20 pounds.

they penalized me that i ddin't have MY cash and it could not be transferred to MY account.

lol?
wtf?

a friend told me i should be happy cuz hes bank penalty is 50 pounds.

anyone smart can explain to me this shit?
where is LOGICAL reason to penalize anyone from not having enough money on his OWN account?
it's not like i owe someone money and i didn't returned it - it was my money on my account.

so as for me i would love to see all banks stop existing as organization (buildings can stay). it would be hard for beginning but i'm sure world will be happier with time.

oh, and big fuck you to barclays bank! :321GFY

They teach you to save money.. :1orglaugh

If you fail to save money, there is this financial punishment so you don't do that again :winkwink:

i see some logic in this explanation :1orglaugh