Bitcoin

[Leviathan]

Senate hearing on blockchain

https://www.pscp.tv/w/1yNGaXZkyXrKj

[Nordstern]

Cryptocurrencies across the board are nursing big losses on Thursday as the global market sell-off hitting traditional assets spreads.

Bitcoin, the benchmark cryptocurrency, dropped suddenly and sharply in Asian trading overnight, losing as much as 7%, before rebounding a little.

It is now holding at a loss of around 5% on the day, trading at $6,266 per coin.

While bitcoin has led the way lower on Thursday, other major cryptocurrencies including Ether, Ripple, and bitcoin cash have witnessed even larger falls. Here's the scoreboard:

Ether -11.2% at $200.28
Ripple's XRP -11.5% at $0.4097
Bitcoin cash -12.6% at $450.80
Litecoin-10.8% at $51.79

Previously, bitcoin and other cryptocurrencies tended to rally during periods of poor performance for traditional assets like stocks, reflecting their status as something of a haven. However, in recent months that has flipped, with cryptocurrencies tending to follow traditional stock markets in their moves.

https://www.businessinsider.com/bitc...f-2018-10?IR=T

[tulip]

Are we buying gold yet?

[Shaikar]

Salt. We're buying salt now as prices are low following a bumper harvest.

[Leviathan]

cashing out i think..

edit: bitcoin has often followed stocks- its all about confidence. Also love how it ignores bitcoin only lost 5% whilst listing xrp and bch that enjoyed around 30% jumps in past week or so. Selective information as always- nevertheless the crypto market is fucked soon with or without anything else.

[Hel OWeen]

Salt. We're buying salt now as prices are low following a bumper harvest.

In all seriousness: sand is a better option.

[Crystalline Entity]

[XenosisMk4]

Doesn't this have to do with Tether being a massive scam and getting slammed by the feds for it?

[Don Rumata]

I think it has to do with bursting bubbles and people being stupid.

[Lana Torrin]

I think it has to do with bursting bubbles and people being stupid.

Probably more likely this..

Not denying people made money off of bitcoin. Lots of people did.. Lost more people made huge losses though.

[Keckers]

Most of the people who made serious money on bitcoin bought $10 at the start because it was a neat gimmick and then cashed out at some point before it all went to shit. Very few people made money playing the margins.

[Lana Torrin]

Most of the people who made serious money on bitcoin bought $10 at the start because it was a neat gimmick and then cashed out at some point before it all went to shit. Very few people made money playing the margins.

Oh yeah I agree, but there were a lot of people that did that. I mean realistically even if they cased out today they would have still made 5000%..

[Duckslayer]

But a select few dodgy smart people who also happened to be high level organised crime typed did play the margins and made an absolute stack of cash. Or more accurately, cleaned an even larger bundle of dirty money. Also hyjacking shit loads of people's tulips. Dirty business. All about luck and timing if you aren't in on it

Sent from my E5823 using Tapatalk

[XenosisMk4]

Most of the people who made serious money on bitcoin bought $10 at the start because it was a neat gimmick and then cashed out at some point before it all went to shit. Very few people made money playing the margins.

Years ago I talked a friend out of buying 1 BTC for a tenner

Yeah, he still ribs me for it

[RazoR]

[Keckers]

But a select few dodgy smart people who also happened to be high level organised crime typed did play the margins and made an absolute stack of cash. Or more accurately, cleaned an even larger bundle of dirty money. Also hyjacking shit loads of people's tulips. Dirty business. All about luck and timing if you aren't in on it

Sent from my E5823 using Tapatalk

Oh yeah, the people who made money on the margins leveraged their existing stake to exploit the bitcoin's weakness to pump and dump.

People who bought into bitcoin to make cash quickly I have little sympathy for. I have a lot of sympathy for the (naive) idealists who bought into it hoping for a new currency model.

[FatFreddy]

I have a lot of sympathy for the (naive) idealists who bought into it hoping for a new currency model.

Ah yes, the idealism standard

[Keckers]

I have a lot of sympathy for the (naive) idealists who bought into it hoping for a new currency model.

Ah yes, the idealism standard

I mean I don't agree with their idealistic position, but they didn't take the thing and then look for a way to massively enrich themselves without doing anything useful. They saw a potential use case for it and started using it as a medium of exchange.

[Lana Torrin]

I have a lot of sympathy for the (naive) idealists who bought into it hoping for a new currency model.

Ah yes, the idealism standard

I mean I don't agree with their idealistic position, but they didn't take the thing and then look for a way to massively enrich themselves without doing anything useful. They saw a potential use case for it and started using it as a medium of exchange.

Buying weed?

[Keckers]

and (one) pizza

and loads of child pornography, but what do you expect from something developed for decentralised ancap dystopia?