Bitcoin crash coming (1 Viewer)
- Thread starter Josh
- Start date
dew4au
Flush
Yeah, it's going to be a bloodbath. I've read where some hedges are into it as well.
ohio3302016
Flush
I thought the Winklevoss twins owned a ton of bitcoin?
dew4au
Flush
https://www.bloomberg.com/news/arti...1-000-people-who-own-40-percent-of-the-market
Yeesh. Didn't realize how consolidated it was!
Yeesh. Didn't realize how consolidated it was!
Nex
Flush
As cryptocurrency doesn't have any intrinsical value but is only defined by the public interest in it (mining = keeping the network alive), massive crashes can and will happen. The question never is "if", but "when".
It's already enough that a substantial amount of people suddenly loses interest in cryptocurrency ABC because the new cryptocurrency XYZ is the cool hip thing now.
It's already enough that a substantial amount of people suddenly loses interest in cryptocurrency ABC because the new cryptocurrency XYZ is the cool hip thing now.
I've thrown a couple hundred bucks at Bitcoin every Christmas bonus and tax return for the last few years just for fun, and ignore day-to-day, month-to-month swings.
Wouldn't be surprised to see a three-digit price point in the next year, and I wouldn't be surprised to see a six-digit price point in the next decade.
Just an entertaining little gamble.
Wouldn't be surprised to see a three-digit price point in the next year, and I wouldn't be surprised to see a six-digit price point in the next decade.
Just an entertaining little gamble.
If it is, in fact, a bubble about to burst, is there any way to bet against it in the same way one would short a stock?
gopherblue
Straight Flush
Not exactly. But secondary markets are starting this weekend, I believe.
I recently looked at a project where a customer wants to install a larger electrical service to power his mining computers. While trying to learn about mining computers I found an article that speculates the power consumption from the transactions could equal the US total power consumption by next summer and by the end of next year it could equal total global power consumption.
The big money has been working to crash it to buy in low before the end of the year. This, while the rest of us are busy buying GI Joe with the Kung fu grip for Christmas.
ohio3302016
Flush
How does a quantum computer backed by a state entity change the game?
links_slayer
4 of a Kind
Bummed that all my money is tied up in Schrute Bucks right now.
Psypher1000
Straight Flush
Options and futures are coming, so if not now, then soon.
WedgeRock
Royal Flush
Big Jilm
4 of a Kind
Buddy of mine has made $20k on it on top of the $20k he put in originally (or so he said in a drunken conversation recently) and is spooked by all the talk. My recommendation was to sell enough to get back what he put into it (or close enough to be comfortable) and let the profit work for him going forward. Either way, he is playing with house money at that point.
Bitcoin is the mother of all Ponzi schemes
One trick is "Painting the tape": it s the oldest fraud in the book
It consists of 2 (or more) holders or miners buying and selling the same bitcoin over and over at say $100 increments every time. Noone will lose but they have established a new high on the exchanges. And sheeps (i prefer to call them idiots) from the sidelines enter the arena thinking there is real value.
Of course this is illegal in a regulated market and hence never happens
One trick is "Painting the tape": it s the oldest fraud in the book
It consists of 2 (or more) holders or miners buying and selling the same bitcoin over and over at say $100 increments every time. Noone will lose but they have established a new high on the exchanges. And sheeps (i prefer to call them idiots) from the sidelines enter the arena thinking there is real value.
Of course this is illegal in a regulated market and hence never happens
Nex
Flush
If you want to know when it will crash, I will post here when I buy some. It will then be time to sell because it is almost guaranteed to crash after that.
Too good.
Nex
Flush
A good news article about an aspect barely touched yet.
http://translate.google.com/transla...bt-Suche-nach-Alternativen-voran-3916948.html (apparently Google's machine translation has massively improved lately)
Don't misunderstand me, I think all this carbon footprint stuff is bullshit. But wasted energy from non-renewable sources is what it is, and when you see the system's demand for it is growing over time with no end in sight, you already know when it'll all end.
I'm pretty sure however the "new cool currency" presented in the article will not provide an actually practical, genuinely better solution. Decentralization means more freedom/less opportunity for regulation, but also more work in protecting the integrity. Unless you axe the decentralization aspect, you won't get away from the work. Plus, you still need to somehow make sure the value "mining" stays about constant over time if not even lower than that, in order to protect the currency against extreme inflation. (Moore's law: processing power purchaseable for a fixed amount of money doubles roughly every 12-24 months - you have to actively counter this. Bitcoin is doing it but hasn't taken all factors into account)
http://translate.google.com/transla...bt-Suche-nach-Alternativen-voran-3916948.html (apparently Google's machine translation has massively improved lately)
Don't misunderstand me, I think all this carbon footprint stuff is bullshit. But wasted energy from non-renewable sources is what it is, and when you see the system's demand for it is growing over time with no end in sight, you already know when it'll all end.
I'm pretty sure however the "new cool currency" presented in the article will not provide an actually practical, genuinely better solution. Decentralization means more freedom/less opportunity for regulation, but also more work in protecting the integrity. Unless you axe the decentralization aspect, you won't get away from the work. Plus, you still need to somehow make sure the value "mining" stays about constant over time if not even lower than that, in order to protect the currency against extreme inflation. (Moore's law: processing power purchaseable for a fixed amount of money doubles roughly every 12-24 months - you have to actively counter this. Bitcoin is doing it but hasn't taken all factors into account)
RainmanTrail
Straight Flush
$20k now 
Señor Tony
3 of a Kind
The only thing that matters is that you don't sell them all.
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