Bit Coin Drops 80 percent
Dec 9th 2017, 3:58 am
#1
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Posts: 392
Bit Coin Drops 80 percent
Just a reality check.
For those remortgaging their homes (ATM's)
For those remortgaging their homes (ATM's)
Dec 9th 2017, 5:17 am
#2
snɐןɔ ʎʇıuɐs
Joined: Nov 2006
Posts: 6,558
Re: Bit Coin Drops 80 percent
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.
Dec 9th 2017, 1:19 pm
#3
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Dec 9th 2017, 7:08 pm
#4
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Re: Bit Coin Drops 80 percent
a thread not on fact but on reality.
Too deep or high for some?
Too deep or high for some?
Dec 13th 2017, 4:28 am
#5
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
Dec 13th 2017, 6:15 am
#6
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Bit Coin Drops 80 percent
Could still be the bubble of bubbles though - I ain't putting my house on it!
Dec 13th 2017, 7:28 am
#7
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Re: Bit Coin Drops 80 percent
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
Last edited by Stuck in Auckland; Dec 13th 2017 at 7:36 am.
Dec 18th 2017, 9:50 pm
#8
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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?
How is this tie up with an exponential growth?
Did they not pay their marketing contribution?
Dec 22nd 2017, 3:41 am
#9
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Re: Bit Coin Drops 80 percent
25% this week 
Dec 26th 2017, 1:35 am
#10
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Feb 2nd 2018, 7:56 am
#11
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Re: Bit Coin Drops 80 percent
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.
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
Feb 2nd 2018, 9:21 am
#12
snɐןɔ ʎʇıuɐs
Joined: Nov 2006
Posts: 6,558
Re: Bit Coin Drops 80 percent
"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
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.
Feb 4th 2018, 1:21 am
#13
Horrid Yank
Joined: Dec 2014
Location: Tierra del Encanto
Posts: 712
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!
I totally missed this rally. Missed several of them, actually. Oops!
