Bit Coin Drops 80 percent
Just a reality check.
For those remortgaging their homes (ATM's) |
Re: Bit Coin Drops 80 percent
Originally Posted by Stuck in Auckland
(Post 12396519)
Just a reality check.
For those remortgaging their homes (ATM's) Currently 1 bitcoin = US$15480.83, 4 days ago it was US$12000, in between it was $17000. The reality is it reflects sentiment regarding crackdowns on holding and trading. Is there any reason for the value? Nope, but that's pretty true of any fiat currency. It's also designed so it's hard for governments and big financial concerns to control (which is a good part of why it's used at all), so it's doubtful if control will be possible at all. Upshot is, it's a bet, like any currency trading, just with bigger odds. |
Re: Bit Coin Drops 80 percent
Originally Posted by Stuck in Auckland
(Post 12396519)
Just a reality check.
For those remortgaging their homes (ATM's) I ain't seeing it |
Re: Bit Coin Drops 80 percent
a thread not on fact but on reality.
Too deep or high for some? |
Re: Bit Coin Drops 80 percent
Originally Posted by Amazulu
(Post 12396707)
Source? Stats?
I ain't seeing it https://www.businessinsider.com.au/b...7-12?r=US&IR=T |
Re: Bit Coin Drops 80 percent
Could still be the bubble of bubbles though - I ain't putting my house on it! |
Re: Bit Coin Drops 80 percent
Originally Posted by Amazulu
(Post 12398897)
Sure, I get that but the OP stated that it had dropped 80% at the time of posting and that had patently not happened
Could still be the bubble of bubbles though - I ain't putting my house on it! currency speculators love volatility but main stream use needs stability to be effective. people are getting too caught up in the technology which is not just limited to bitcoin. the compliance costs (mining) is high in both monetary and environmental. If such a good thing why so much illegal marketing? Betting your house? Nuts all eggs in a glass basket. To me the growth is fed to desperate people prepared to take irrational risk. lastly http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11959090 |
Re: Bit Coin Drops 80 percent
Another trader in liquidation.
How is this tie up with an exponential growth? Did they not pay their marketing contribution? |
Re: Bit Coin Drops 80 percent
25% this week :sneaky:
|
Re: Bit Coin Drops 80 percent
Originally Posted by Amazulu
(Post 12396707)
Source? Stats?
I ain't seeing it |
Re: Bit Coin Drops 80 percent
Originally Posted by GarryP
(Post 12396533)
Sorry, which day are we talking about?
Currently 1 bitcoin = US$15480.83, 4 days ago it was US$12000, in between it was $17000. The reality is it reflects sentiment regarding crackdowns on holding and trading. Is there any reason for the value? Nope, but that's pretty true of any fiat currency. It's also designed so it's hard for governments and big financial concerns to control (which is a good part of why it's used at all), so it's doubtful if control will be possible at all. Upshot is, it's a bet, like any currency trading, just with bigger odds. Bitcoin slumps below US$8,500 as Facebook bans cryptocurrency adverts - NZ Herald |
Re: Bit Coin Drops 80 percent
Originally Posted by Stuck in Auckland
(Post 12433000)
"Bitcoin's woes have continued with the cryptocurrency slumping 8.2 per cent today to trade at US$8326 ($11,306) - its lowest level since November."
Bitcoin slumps below US$8,500 as Facebook bans cryptocurrency adverts - NZ Herald There is nothing holding up bitcoin except the ability to avoid governance. |
Re: Bit Coin Drops 80 percent
This latest drop quieted down certain people in my FB feed who wouldn't stop crowing about their profits. At least 2 people I know became Bitcoin millionaires. Maybe now they're thousandaires.
I totally missed this rally. Missed several of them, actually. Oops! |
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