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Bitcoin Bruce MacDonald accused Tezos of engaging in the unlicensed sale of securities and use of a Swiss-based entity in an attempt to evade U. News Science And Technology. Refer to this crashed on short selling for a clear explanation on its risks. There is ultimate greed and power at play here. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer bitcoin and should not be re-posted. Definitely crashed because of the new shorts that are now backed by huge market muscle.
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Only the percentage moves. This was expected, the market cannot go up parabolic for ever, just look back, bitcoin had bubbles. Prices could bounce back next week or it could take months or even years. That seems counterintuitive on the surface but just think for half a second and you might understand that this is nothing short of the best thing that couldve happened for bitcoin in I fully agree with this. He sees the advantages of the movement. I'm not understanding how they could know?
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Crashed Sachs bitcoin announced they were setting up a cryptocurrency trading desk, apparently the first large bank to make markets in cryptocurrencies. People who never heard of bitcoin until a week ago have been all buying. Here are some questions to ask yourself: I'm not understanding how they could know? If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core.
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Bitcoin Cash Price Crashes After Wild Weekend Surge | Fortune
That will be a first and convince investors that their cash balances will now be held in Bitcoin. Old economy industrial stocks could announce a side-investment in blockchain technology and see their stock prices rising quicker than Venture Corp. Maybe the big technology companies that are in the race to a trillion-dollar market valuation could use some ideas from their microscopic cousins.
Their case would be far more believable as they are already in the right industry with products or services that may even be powering cryptocurrencies. In the previous article, I shared what to do when the bubble pops.
One recommendation was to buy Bitcoin itself as there is enough trust in cryptocurrencies. The only caveat would be the intrinsic value of Bitcoin — how does one calculate it? This is just on Bitcoin. What about the other cryptocurrencies? Most importantly, how safe is your wallet?
There have been numerous cases of dubious cryptocurrency marketplaces, ICOs , or crypto-wallet service providers disappearing or being hacked. I have seen more and more friends who have never invested nor traded a cent of their money show off their crypto-wallets to me. The issue during a massive sell-off would not just be price but liquidity. In times of distress, you would need a community to fall back on and commiserate, here are some of the more popular avenues you can visit.
There is nothing much you can do here but to simply cut and run. Equities have less of a liquidity risk than cryptocurrencies for the obvious reason of good regulations. There could be displacement in value for certain companies that get caught up in a massive crypto sell-down.
It is inevitable that a crypto crash might have some spillover effects on the financial markets, albeit at a much lesser magnitude than an equity or bond bubble bursting. Technology companies that have real businesses in relation to cryptocurrencies such as its underlying blockchain technology banks are also another example could be affected. Reading the hilarious rush for name-changing might make you want to short certain names but again beware that short-selling has its own risks.
Do not get blown up for being right — Bitcoin may crash but the stock price may stagnate or rise due to unforeseen circumstances beyond your control. Refer to this article on short selling for a clear explanation on its risks. It has been an eventful year in the financial markets. I can safely say that I can count this as my first ever experience watching a bubble balloon in front of my eyes.
Its eventual fall would also be a good lesson to learn. People have been searching for asset bubbles far and wide, from junk bonds to tech stocks, but it came from the least expected place of them all.
Human greed knows no bounds and transcends time — we could witness another bubble in our lifetime. My intention is simply to engage, discuss and alert readers to any potential wealth-destroying event like this one. To those who have made money in this, enjoy your profits but know that it may well have been sheer luck and not skill though I acknowledge it takes some skill to know when to ride a trend.
At the same time, it is for the better not to extrapolate the same strategies from this to other assets and expect the same stellar results, you could well lose what you have made. Good Articles to Share Author: Equities Here are some ridiculous-but-true examples of how companies have jumped on the crypto-bandwagon: When the bubble pops… Cryptocurrencies In the previous article, I shared what to do when the bubble pops. Here are some questions to ask yourself: Have you tried selling your positions before?
Now all the coinbase noobs are freaking out with their 13kk positions and trying to save what money they still have left by selling something that they didn't even understand in the first place. And it coincides with futures coming online. The bears can finally short Bitcoin and lots of big time traders are bearish on it. You would be disgusted to hear how many of these wallstreet types don't even understand the technology of blockchain let alone can see it's future.
All they see is magic internet money that doesn't physically exist. Just like your online dollars. And in that context, there's nothing special about it and being against it is the the right move.
When a stock or commodity rises up, especially rises up a lot in a short time, quite a few people start selling, which causes a short drop in price. At some point, the sellers have sold and then the price starts rising again. Of course this happens the other way round too in a bear run. When a price increases sometimes it can go overboard.
You can call this hype or fomo. When this happens the value can pull back a little to find the market value. That's when you see a massive increase and then some pull back. The pull back is called a correction. Believe it or not a correction is good for the industry as a whole.
Bubbles burst when a rally goes on too long and the correction becomes devastating. On a side note I don't think the correction is over yet. We'll see another dip in coming days. Just because we're aware of it, doesn't mean it will go away. Not with people wanting to take profits for Christmas and the holidays upon us. A price dip to the medium-ish line after a huge bull upwards move, which we saw just earlier this month, it was really optimistic for moat of people that btc would reach 10k jist couple weeks ago, now it was bloating around 20k, which didnt represent the real proce of btc, after correction it comesback to the medium-ish line and then usually bulls upwards again: Hope I didnt make any mistakes explaining it, Im sure someone will fix me if I did!
That seems counterintuitive on the surface but just think for half a second and you might understand that this is nothing short of the best thing that couldve happened for bitcoin in Bitcoin could very well bust k next year and god forbid we all have to endure some turmoil before that occurs. If one guy can destroy an asset by talking shit about it, then that's not an asset I want to invest in.
Bitcoin has thrived while under far more vicious attacks than this, and this is only one more chapter in a very long book. These attacks and Bitcoin's stunning popularity shined a bright light on some legitimate issues.
Capacity constraints, high fees, untrustworthy exchanges and custodians, etc. The great thing is that this is all built with open-source software. It's a living, breathing, adapting thing. The issues will get solved and bitcoin will emerge from the fire even stronger and more useful.
It just doesn't happen in a straight line. Prices could bounce back next week or it could take months or even years. We've seen this pattern many, many times. So bring it on! Attacks only make bitcoin stronger and more resilient. We need attacks like this to advance to the next level.
You guys throw around the word correction like it applies to BTC. Bitcoin is absolutely nothing. It's literally only worth whatever people will pay for it. Corrections in markets are based on prices returning to being in line with actual value. BTC has no actual value thus it cannot "correct". It's all wild speculation - which can be quite lucrative, but also quite damaging.
Dude, sorry, but as a BTC hodler, this is pathetic. This is a cultish mentality. It's not healthy, and this way, you will never learn and you'll never be able to deal with investing reality. It crashed because it had to. Because it went parabolic, and everyone and their grandmother bought it without knowing what they were getting into -- squeamish, amateurish types, get-rich-quick types, types not knowing that this is what BTC does as it goes through growing pains.
It goes parabolic, then corrects, then the new bottom is much higher than the previous bottom. I feel like everybody needs to experience a market correction while they have something invested to understand that this is just what happens occasionally. Hopefully once it starts to recover, those who panic sold will learn their mistake and know not to do it again. At some point, people start to think "ok, this is freaking insane gains! Once enough people do that, usually around psychologically important numbers like, close to 20k , it will affect the price.
This will make other people think "fuck, it's going a little down! I'll cash out my gains here". And bring the price even more down. And this will continue until it meets the "fuck! It has to go up now! Yes, and i think the crypto market is full of these types of investors, much more than your average stocks.
They're certainly less informed than your average stock investor, as a whole, certainly not this community. Or perhaps we're more educated in the technology of crypto, rather than the investment mechanism.
But we're certainly getting there. In my dad sold all of his investment portfolio and we went broke. He sold time shares and insurance his whole life and is the smartest individual I know when it comes to money that is not a financial professional. I learned that year that nobody learns because learning is an intellectual matter and these things speak to your emotional side and can beget you to make irrational decisions even if you knew better your entire life and have seen it happen many many times.
My grandparents are wealthy, and we could've reduced our standard of living, but instead he was caught up in the emotional turmoil of having to keep our standard of living up at any cost rather than just making the smartest financial decisions available to be able to hodl through the market crash that would inevitably correct and has consistently done so since the creation of the Fed. What I learned most of all is that everyone needs a back up plan.
If your life rides on the success of a single asset, you will find the market does not care about your well being. All these conspiracy theories are ridiculous.
The price skyrocketed way too quick and this correction was more than due. These whales recognized there was a lot of profit and captured some of it. They'll buy back in. It's hilarious that all these people are convinced it was an "attack. Does nobody on this sub read? The creator if LTC dumped all of his coins, but I'm sure that had nothing to do with it either I'm sure my comment will catch some flack, but come on guys. BTC's growth was totally unsustainable.
I mean, an 'attack' by who, exactly? People feel 'under attack' over this, and I udnerstand why, but it's because professional traders saw the dumb money come in, helped everyone push it up, and they have pushed it way down, taking profits left and right, because unless you know what you're doing 'day trading', you will get utterly raped by professionals on the way down.
Psychology works against you, and they know it. This is how it works -- not just in BTC -- but everywhere in the stock market as well. If you're going to buy -- then fucking HODL for at least a year to avoid potential short term cap gains. Have a plan when you feel comfortable entering and what you're comfortable losing if BTC goes bust. Don't try your bullshit amateurish 'daytrading' crap. And really, truly -- if you're an amateurish type -- don't get in unless you actually believe in cryptocurrencies.
There's this misguided notion that Bitcoin price is somehow only supposed to go up, and any dip whatsoever is an attack by the powers that be. I don't know about anything coordinated, but the Swedish guy, forget his name, was definitely out in force over all sorts of newsoutlets telling everyone to sell their BTC and buy BCH instead.
I learnt of this because all of a sudden my dad was saying "the founder of bitcoin is saying you shouldn't buy anymore". And no surprises, I went and read the article, and it read exactly like that "bitcoin.
My girlfriend only reads facebook news a doctor, what a joke. But she said the same thing, and we're from the Netherlands. The one common denominator is that WAY too many people got a coinbase account and jumped into a market they know nothing about and have NO business being in. They saw Bitcoin on TV or Facebook and have zero knowledge about the way any markets moves, let alone the crazy volatile crypto world, and dreamed of mansions and Lambos in two months. Then when the market does exactly what markets do, correct itself, they panicked while the rest of us bought at the great sale prices!
Finally a smart comment here. The cultish mentality in this thread is way to high. Although the cultish is understandable cause the more users you influence to buy, the more money you will make if you bought it early.
But please don't be so obvious I've never invested in anything, but bitcoin has been interesting to me since at least That was about 2 weeks ago. I hope this is the right mentality. Just let it ride for a while. As a first time investor I'm still having fun and thinking "If I make a few buck cool maybe I'll go on a vacation" but if not oh well, that's the risk of investments.
What do you think that did to the gen-pop, who don't really make a distinction hey, it's all bitcoin, right? Remember all of those questions: What OP is talking about in addition to an already tense market - "Oh, it's a buble. Those are all factors and OPs aren't "pathetic". What's the percentage among those dip-factors? But they are all factors. And he is damn right about it, in it's current state BTC is useless.
Maybe LN will save the day, but currently it's faster and cheaper for me to send my private key in a letter than doing a Bitcoin transaction. It's because we have betrayed and angered the cryptomarkets with our frivolous spending, and the cryptomarkets fought back, saying "enough, no more gains! But pointing fingers at the squeamish, amateurish types, get-rich-quick types, types not knowing that this is what BTC does as it goes through growing pains gets us nowhere.
Yey, it is an angry and unforgiving Cryptomarket. To repent we must stop frivolous spending! We must hodl and buy only the essentials, bread, water, and margaritas. I don't agree with this as simply stated. We're not experiencing 'a dip' -- we're experiencing a major, but necessary, correction. If you 'buy the dip', you don't know the right time to buy.
No one does, really, so we need another gauge, if we believe in BTC and crypto. When people everywhere start saying 'BTC is over' and the hysteria of buying and selling dies down, and the corrections shakes out the stragglers of 'dumb money' and volume levels out more -- THEN buy back in.
However the dollar amounts are are lot bigger. I never count anything in fiat, just btc. If a correction like this is enough to shake people loose and scare them, then they probably weren't investing money like they should have been.
Give it another rush of word-of-mouth over the holidays, just like Thanksgiving, along with people getting tax rebates and newly-clean investment folders for the year, and it'll go up again. Then it'll 'crash' down again.
Because we all bought in knowing that volatility was the name of the game. When my mom got a Coinbase account and bought bitcoin I sold. I even told her "literally grandma is buying now, so I have to sell. Now prepare for the onslaught of angry comments and messages from people who just learned about bitcoin a month ago. If it's this "easy" to manipulate the marketprice of BTC, how will it ever become a stable entity?
Will BTC ever be a generally accepted form of currency if it can be manipulated to tank or take-off at will? The "instability" is down to market depth. Basically how much money is there behind the buyers and sellers. And to how much trust we, collectively, have in BTC.
The second one will take longer. Remember, we're still at a stage where many most? That won't change anytime too soon. And you may think it never will, or it might. But that's up to you to make up your mind on. Bitcoin is not an inflative currency. It promotes hoarding, not spending. It's unlikely to ever work as a currency, unless for buying something big. I bought my computer with Bitcoin on caseking. Every Bitcoin I spent in my life is actually an invite to not spend it.
That's true of every dollar you spent because it could have been invested in Bitcoin instead. There is a reason why things are properly regulated. Back when it started it had low key promise, but the unregulated speculating is nuts! The issue with most cryptos is they don't have enough supply.
Eventually all cryptos being used end up at well over a dollar per coin, even Ripple is heading this way with it's billion coin limit. Purchasing items for 0. For a proper currency to take of, especially an international one, it needs to have trillions of coins with an easy to count number. The issue of transaction fees and confirmation times needs to be solved pronto.
This is literally the only proper talking point Ver has over Bitcoin. Take that away and there is nothing left. Sounds silly but this needs to be done. It's not a long term solution, but it will be enough to compete and beat Bcash in the short term. When it comes to technology I tend to follow the opinion of those that have been ahead of the game and are extremely successful for decades; not some unknown that's new on the scene that has a self-motive.
Bill Gates is a supporter. He sees the advantages of the movement. He has a proven track record of understanding the potential. Richard Branson is another from a business perspective. The dip that you're seeing is expected. Sharp rises often lead to sharp falls. The majority of investments should rise steadily over longer periods of time as it's deemed more stable and healthy. The recent rise in Bitcoin has drawn masses of media attention. This has made Bitcoin appealing to a much wider audience who want a 'piece of the pie' and have invested to get in on the action.
However, many of these newcomers are not as educated on the matter. Some believe they have missed the boat.
Some do not know the difference between the cryptocurrencies. BCash is a prime example. It is a newer currency and named in such a way to associate itself closely with Bitcoin. So much so that someone that haven't done their research will think it's identical.
A newcomer will see the charts and notice that it's only been around for a short period of time and has made substantial gains. Some will be drawn to the much lower price and think that they have caught this cryptocurrency 'earlier' than Bitcoin and envisage a better return. The truth however is that Bitcoin was first on the scene. It started the movement and will always be known as the true cryptocurrency. It might have it's problems transaction fees and the need for LN but of all the cryptocurrencies out there, I would wager that it's also the safest coin to invest in long term.
There are now hundreds of different coins out there. Many of them will rise in price. Many will fail to be successful. However, ask anyone if they've heard of 'Bitcoin' and the majority of people will confirm they have. The same can't be said with even some of the alternative successful coins such as Litecoin or even Ethereum.
My opinion is that Bitcoin will always remain king and once the expected improvement are made then who knows the potential. If you're in for the long term I've always found that the best thing to do is forget about them.
Don't invest what you cannot afford to lose. Take some profit if you're happy with your return or wish to recoup your initial investment. From then on its plain-sailing and a free ride. Could I afford to lose it? However it also set me back and took a long while to recover. I knew how I behaved.
I would watch the share price countless times throughout the day. It was a large percentage of my savings. The stress is caused was close to unbearable. In the end I lost the majority. Had I invested in Bitcoin during the same period or even Amazon or Alphabet Google at the time I would have been living a very easy life today.
My point is that Bitcoin has shown a steady rise over a long period of time. More and more people are talking about it. It's in the spotlight and will likely remain in the spotlight for the foreseeable future. It's still high risk, but anything new with teething problems often is. However there are improvements in the pipeline and things are likely to only improve. Personally, I would say opportunities like this do not come very often.
I remember when Amazon was new on the scene. I myself was buying from them multiple times each week. My family was doing the same. In fact we even became good friends with the delivery driver as he was constantly at our door. Looking back, the signs were there. People were talking about this amazing new company and how they were better than alternative online businesses. There share has since risen x35 times since my initial interest and had I even bought years later when others said the full potential had already been reached I still would have made an incredible return.
I will finish by saying don't let people steer your investment. No one truly knows the full potential of Bitcoin. Make your own judgement and even when you think you're late to the party; there could still be a hell of a way to go.
If you do choose to invest, then only do so with money that you don't mind losing. Be transparent with the risks. Don't stress yourself to the point that an investment takes over your life or effects your health AND remember that money is not the most important thing in life. There are many people out there more wealth that most will see in a lifetime but even they suffer from problems or experience unhappiness. There's no greater myth in trading than that christmas crashes occur for the specific purpose of spending money.
I have one problem with your theory: BCH is crashing with everything else. I think this is more just a result of the Coinbase fisasco than an attack. When BCH first when on Gdax it was selling for 10k. Idk why but has been correcting ever since. All the other coins traded on Coinbase are also down large amounts.
On the other hand, my tokens, not traded on Coinbase, are going to the moon ATM. I think this is just the market passing the Coinbase stone. Back when NASDAQ was at in a couple of companies made poorly timed large stock sells that triggered the crash. It just takes something small when people are already on edge from large gains. That's exactly what happened. That is because every single one of them uses BTC as the backbone.
Saying BTC is unusable, dead, run for the exits, doesn't help the market at all. This is the reserve currency we are talking about. Correct, but he is saying that his tokens are going to the moon at the moment. What is he talking about? And BCH is crashing harder. Not surprising given that the figurehead of Bcash is a convicted sociopath called Roger Ver. Bcash crashing with everyone else doesn't refute the theory. It's very possible the bcash fills didn't realize the full consequences of their actions.
It's very possible they were a bunch of goddamned morons to pull the stunt they did. Or it's possible they made a shit ton of money manipulating the market. While this thread is here, can someone please explain what happened today without painting it like some kind of corrupt, organized attack led by the evil villian? Today, out of nowhere, I was spammed with notifications that several of my coins were down in the double digits.
Maybe if these shitposts weren't upvoted so heavily while the potentially relevant news posts were buried, you'd be armed with more information and less speculation. So how exactly would the IRS know that we trade between currencies unless we voluntarily report it? The reason I even ask is because in my case, my holdings have been all mining profits, and the majority of exchanges that I traded on years ago are defunct.
There's literally no way for me to go back in time and figure out how I ended up with 10s of thousands of dollars worth of coins. I get this feeling that the IRS will audit me no matter what if and when I cash out because it looks like the money came out of thin air. My guess, if you ever want to cash out in us dollars they Want to know where that money comes from. Money comes "out of thin air" all the time. The IRS job would be to identify if you generated Cash out of thin air and didn't report any income, because obviously that would be fraud.
Your bitc wallet and shit doesn't even really need to be linked to your identity. Could swap btc's to an unattached wallet, do whatever you want with it, then move the outcome back to your main wallet. I'm not understanding how they could know? If you use an American exchange they could subpoena their records.
If you're using a foreign exchange it would be more difficult. The exchange doesn't even know who you are. In fact, the entire purpose for this law is to clarify the grey area that causes your coins to look like "LaunderingCoins.
Any exchange that is operating legally would have been reporting and keeping records of those exchanges. Any conversion triggering a tax event now including crypto to crypto exchange would require "proof" moving forward. The best case scenario for you, and a forensic audit, would be having the ability to trace the transactions back to the default exchange's wallets or those original mined blocks.
I feel the exact same way every time I buy, without fail had I waited an hour or a day it would have been far better timing. I rarely tell people they should have less of an imagination, but it seems like pretty apt advice around these parts. I am a practicing macroeconomist and I have expressed deep reservations about bitcoin generally, any currency, including crypto-currencies, that have a finite supply as I tried to explain in this piece I wrote recently. I wish to add that I have no position in any cryptocurrency nor affiliation thereto, and don't plan to.
I am always extraordinarily suspicious of any explanation of a large market movement downwards or upwards that is attributed to somebody saying or doing something.
The reason is it's fair that there be a few market participants are so uncertain about the value of their assets and their prospective evolution that they react suddenly, but if the market is so shallow that apparently most participants just react to technical trends, then you have a problem. I'd say they weren't far off. It tanked because the market was totally disconnected from reality and has been for ages, maybe forever , and because apparently a large proportion of participants are trading purely on technical and not fundamental valuations, and therefore act in unison and pro-cyclically in a shallow and illiquid market.
Add to this that it is probably noxious for any economy to adopt a fixed-quantity, deflationary currency, and No economy should adopt a fixed quantity deflationary currency. More like digital gold. If people recognise cryptocurrencies for what they truly are a clever manner of manufacturing scarcity in our infinitely-duplicatable digital info-sphere and decide to attribute a value to them on that basis alone, then I'm fine with it.
They're playing bitcoin commercials on regular TV in Japan now. There are bitcoin ads on the trains and giant bitcoin billboards all over the city. People who never heard of bitcoin until a week ago have been all buying.
It blew up way too fast, and we all knew it was going to fall again.