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Bit Coin Drops 80 percent

Bit Coin Drops 80 percent

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Old Dec 9th 2017, 3:58 am
  #1  
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Default Bit Coin Drops 80 percent

Just a reality check.

For those remortgaging their homes (ATM's)
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Old Dec 9th 2017, 5:17 am
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Default Re: Bit Coin Drops 80 percent

Originally Posted by Stuck in Auckland View Post
Just a reality check.

For those remortgaging their homes (ATM's)
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.
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Old Dec 9th 2017, 1:19 pm
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Default Re: Bit Coin Drops 80 percent

Originally Posted by Stuck in Auckland View Post
Just a reality check.

For those remortgaging their homes (ATM's)
Source? Stats?

I ain't seeing it
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Old Dec 9th 2017, 7:08 pm
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Default Re: Bit Coin Drops 80 percent

a thread not on fact but on reality.

Too deep or high for some?
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Old Dec 13th 2017, 4:28 am
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Default Re: Bit Coin Drops 80 percent

Originally Posted by Amazulu View Post
Source? Stats?

I ain't seeing it

https://www.businessinsider.com.au/b...7-12?r=US&IR=T
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Old Dec 13th 2017, 6:15 am
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Default Re: Bit Coin Drops 80 percent

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!
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Old Dec 13th 2017, 7:28 am
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Default Re: Bit Coin Drops 80 percent

Originally Posted by Amazulu View Post
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!
80% was relayed in jest tongue/cheek to the claimed 2000% growth.

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.
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Old Dec 18th 2017, 9:50 pm
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Default 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?
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Old Dec 22nd 2017, 3:41 am
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Default Re: Bit Coin Drops 80 percent

25% this week
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Old Dec 26th 2017, 1:35 am
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Default Re: Bit Coin Drops 80 percent

Originally Posted by Amazulu View Post
Source? Stats?

I ain't seeing it
No bitcoin bounce back - NZ Herald
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Old Feb 2nd 2018, 7:56 am
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Default Re: Bit Coin Drops 80 percent

Originally Posted by GarryP View Post
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'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
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Old Feb 2nd 2018, 9:21 am
  #12  
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Default Re: Bit Coin Drops 80 percent

Originally Posted by Stuck in Auckland View Post
"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
Yep, twas ever thus.

There is nothing holding up bitcoin except the ability to avoid governance.
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Old Feb 4th 2018, 1:21 am
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Default 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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