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The fall of bitcoin

  • #1
  • First Post: Mar 12, 2020 9:12pm Mar 12, 2020 9:12pm
Bitcoin just lost 50% of its value in JUST over 1 DAY!!
Gives you a good idea of the lack of confidence investors have in bitcoin.
Meanwhile, USD goes up 200 pips yesterday.

More to come...
Compulsions can be hard to resist
  • #2
  • Mar 12, 2020 10:52pm Mar 12, 2020 10:52pm
I still remember the heated discussions with certain forum members how it will “reach the skies” :-).

And I have a lot of friends who bought above 15000 and never “broke even”.

And I remember my LinkedIn and Facebook wall was full of posts from crypto “shamans”, ICOs, blockchain “miracles” - since 2 years everything is strangely silent :-))).

I guess at some point everyone that lost huge amount of money in this dump will admit this was not “the new economy” :-).
  • #3
  • Mar 13, 2020 6:03am Mar 13, 2020 6:03am
Quoting michaelpelly
I still remember the heated discussions with certain forum members how it will “reach the skies” :-). And I have a lot of friends who bought above 15000 and never “broke even”. And I remember my LinkedIn and Facebook wall was full of posts from crypto “shamans”, ICOs, blockchain “miracles” - since 2 years everything is strangely silent :-))). I guess at some point everyone that lost huge amount of money in this dump will admit this was not “the new economy” :-).
Bitcoin has so much more room to fall
A little pump today, then more bearish activity next week.
Compulsions can be hard to resist
  • #4
  • Mar 13, 2020 7:11am Mar 13, 2020 7:11am
Hi, folks !!
The fall?...The end of bitcoin
If it can't take over and stay above $4000 it's like fkn dead !
You know the mining is worthless below that level !! It's the minimal rentability level !!
...and it's just a matter of time to see it all collapsing on lack of trust from there ...unless if the big money whales won't manipulate the price to fake "trust"
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  • #5
  • Mar 13, 2020 7:25am Mar 13, 2020 7:25am
Bitcoin is a risk-on instrument, and USD is risk-off. Makes pretty good sense to me.
  • #6
  • Edited 8:08am Mar 13, 2020 7:46am | Edited 8:08am
Quoting cityRat
Bitcoin is a risk-on instrument, and USD is risk-off. Makes pretty good sense to me.
Come on, comparing the USD with bitcoin it's absolutely inappropriate and you know it.
Not only in terms like bitcoin think highly about itself as like it's a superstar

The real value of bitcoin starts from the minimal rentability level for mining.
It's like you waste electric power to create it and then you need to attract investing in order to make some profit ...at least attract enough to cover costs and justify your mining business.
4-5000 dollars a piece it's the real zero value for this computer code when the miner is selling it on market ! Below that... is virtually DEAD ! The miner is a loser if he goes on mining! He rather holds it hoping the market going higher.
But below technical zero value for a prelonged period generates a dangerous mining slowdown or even a stoppage in mining, eroding trust...

And there you have it, uncommon high risk because bitcoin is not backed by anything else but the belief that the other guy will buy more !

Now tell me how can the USD can be considered dead ...as long as the US is still standing
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  • #7
  • Edited 9:26am Mar 13, 2020 8:37am | Edited 9:26am
Quoting TudorIoan
Come on, comparing the USD with bitcoin it's absolutely inappropriate and you know it.
I'm comparing them on a level as they are two different tradable instruments.... like comparing the S&P to grain futures. USD strengthens during instability/flight to quality, while cryptos and other risk-on assets decline. Then, as soon as this blows over, cryptos/stock market will go back up, and USD will ... "adjust."
  • #8
  • Mar 13, 2020 9:29am Mar 13, 2020 9:29am
Quoting cityRat
{quote} I'm comparing them on a level as they are two different tradable instruments.... like comparing the S&P to grain futures. USD strengthens during instability/flight to quality, while cryptos and other risk-off assets decline. Then, as soon as this blows over, cryptos/stock market will go back up, and USD will ... "adjust."
True, I was refering at BTC fundamentally. Fundamentally like the pigs can't fly... ignoring other patterns.
It's regretable though that bitcoin is so vulnerable not being backed up by anything else except the hope that the other guy will buy more.
Bitcoin also failed this time mostly because it was expected to react as a safe heaven asset.
That weakens bitcoin's market potential.
So it could mean that the "cryptos/stock market will go back up and the USD will adjust" correlation will not necesarily work as expected.
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  • #9
  • Mar 13, 2020 7:35pm Mar 13, 2020 7:35pm
Trump declares a National Emergency.

Bitcoin is a risk asset.

so, the following is NOT a trick question.

What will happen to btc/USD as a result of Trump's declaration?
Compulsions can be hard to resist
  • #10
  • Mar 14, 2020 5:55am Mar 14, 2020 5:55am
Over the last 30 days, BTCUSD dropped well over 50% in value, from 10500, to less than 4000.

You would have to be quite desperate to call this a "fake drop".

So, as we look to the future, and the next halving event, we see mining rewards not cut by 50%, but by 75% or more, as the value of a bitcoin continues to fall.
Compulsions can be hard to resist
  • #11
  • Mar 14, 2020 7:32am Mar 14, 2020 7:32am
Quoting trumps
Over the last 30 days, BTCUSD dropped well over 50% in value, from 10500, to less than 4000. You would have to be quite desperate to call this a "fake drop". So, as we look to the future, and the next halving event, we see mining rewards not cut by 50%, but by 75% or more, as the value of a bitcoin continues to fall.
Fake drop ??? The inadaptable scumbags of the society, namely the crypto morons, they bring up what they have left ...just a despicable lying show
Watch the fall of bitcoin, guys!
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  • #12
  • Apr 18, 2020 1:53am Apr 18, 2020 1:53am
Let's see bitcoin save the jobless from starving .
Imagine a world where due to no fault of your own, you find yourself out of work, and no means to feed and house yourself and your family.

The message would be;
"Sorry, we have no more bitcoin to help you, suck it up".
Compulsions can be hard to resist
  • #13
  • Apr 18, 2020 2:00am Apr 18, 2020 2:00am
Bitcoin
Imagine investing in an asset or "currency", that loses over 80% of it's value in 12 months.
What a scandal.
Compulsions can be hard to resist
  • #14
  • Apr 18, 2020 8:24am Apr 18, 2020 8:24am
Sick delusions 😱😱😨🙉🐒

Halving countdown.

https://thehalvening.com/#2

3453 blocks....💰💰

😱 🐢🐢🍻👍

If it doesn't halve , you can sue me 😂 😂 😂
Beware of robber banks (RB), bad advisors.
  • #15
  • Apr 18, 2020 8:29am Apr 18, 2020 8:29am
Bitcoin, crypto 🍻 honest thread 👏

Charts...

See all pages.👍

Plenty info and liars busting 😱😱👍

https://www.cryptocraft.com/showthre...3#post12775153

Think about all bank issued trash....😱😨😨

Bitcoin fixing that 👏👏💰
Beware of robber banks (RB), bad advisors.
  • #16
  • Apr 18, 2020 2:02pm Apr 18, 2020 2:02pm
Quoting Not-KPMG
Bitcoin, crypto honest thread Charts... See all pages. Plenty info and liars busting https://www.cryptocraft.com/showthre...3#post12775153 Think about all bank issued trash.... Bitcoin fixing that
That bank issued currency feeds and houses those millions out of work due to the virus and other reasons, while much of the economy is shut down.

How would bitcoin do that? (Without printing more bitcoin).
Compulsions can be hard to resist
  • #17
  • Apr 18, 2020 2:11pm Apr 18, 2020 2:11pm
Quoting Not-KPMG
Sick delusions Halving countdown. https://thehalvening.com/#2 3453 blocks.... If it doesn't halve , you can sue me
Not talking about halving, and short term value increase, talking about the long term sustainability of bitcoin as a stable, viable currency.

So much wild volatility.

Inability to cope with periods of increased unemployment due to limited supply.

How do miners make a profit after the final halving when all they receive is a tiny percentage of the transaction value?
Compulsions can be hard to resist
  • #18
  • Edited 8:15am Apr 20, 2020 1:09am | Edited 8:15am
You want to know when sovereign crypto's become the next serious option, so you can sell your bitcoin
Compulsions can be hard to resist
  • #19
  • Apr 20, 2020 8:14am Apr 20, 2020 8:14am
Bitcoin , created out of thin air.
When all bitcoin has been created, and is no longer able to service a capitalist economy, sovereign crypto will simply take over.

But, no need to wait that long, sovereign crypto will simply swallow up this tulip currency before it "matures".
Compulsions can be hard to resist
  • #20
  • Apr 21, 2020 1:45pm Apr 21, 2020 1:45pm
Quoting trumps
When all bitcoin has been created, and is no longer able to service a capitalist economy, sovereign crypto will simply take over.
Lmk if that ends up happening in 2140. lol
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