Is anyone else starting to become a bit worried? mod note in first post

Truckermal · 14-03-2018 06:42PM

Bob24 wrote: »

Very sharp drop in value for all cryptos in the past week btw. Another few days like this and everything which was regained since the early Feb bottom will have been lost again.

Yep making it a great time to buy again!

Bob24 · 14-03-2018 07:10PM

lifeandtimes wrote: »

makeorbrake wrote: »

What if any rationale can be affixed to the fall?

https://www.coindesk.com/google-to-ban-cryptocurrency-ico-ads-from-june/

Really it should say that a ban is being put in place to protect investors from dubious ICOs promising major investment returns but that doesn't get clicks now does it

I don't think this explains the recent drops thought. It is not such a major announcement that would justify mass sell-offs, and also the timing doesn't match (drops started a week ago, and Google made the announcement yesterday).
I know it is not a very popular opinion on this thread, but I tend to think the drops are simply due to a loss of public interest in crypto (volumes are fairly low).

SkySter · 14-03-2018 07:23PM

Bob24 wrote: »

I don't think this explains the recent drops thought. It is not such a major announcement that would justify mass sell-offs, and also the timing doesn't match (drops started a week ago, and Google made the announcement yesterday).
I know it is not a very popular opinion on this thread, but I tend to think the drops are simply due to a loss of public interest in crypto (volumes are frail low).

Its true that liquidity is an issue as the ordinary Joe is scared off due to the big drops since December, but the real reason is that the whales who control this market are quite happy to see BTC bounce up and down 10-20% for weeks on end. With the kind of leverage they have they can make millions without BTC ever breaking out of this range.

Pintman Paddy Losty · 14-03-2018 08:49PM

Buttcoin taking an absolute hammering at the moment. When the tether scam blows the whole house of cards will come crashing down. I'd sell while there is some liquidity left and try and salvage something.

Don't be the doofus left hodling the can when the arse falls completely out of it.

Tinder Surprise · 14-03-2018 09:01PM

Pintman Paddy Losty wrote: »

Buttcoin taking an absolute hammering at the moment. When the tether scam blows the whole house of cards will come crashing down. I'd sell while there is some liquidity left and try and salvage something.

Don't be the doofus left hodling the can when the arse falls completely out of it.

'Buttcoin'

...are you 12 ?

dQuetour · 14-03-2018 09:11PM

Tinder Surprise wrote: »

'Buttcoin'

...are you 12 ?

Buttcorn is better.

rapul · 14-03-2018 09:20PM

Market in downfall so here come the negative brigade again and lol buttcoin thats actually made my day!

14-03-2018 09:26PM

makeorbrake wrote: »

What if any rationale can be affixed to the fall?

Chinese new year is fast approaching,
Happens this time every year.
Its a good time to pump more of your hard earned into alt coins

Pintman Paddy Losty · 14-03-2018 09:44PM

BrownFinger wrote: »

Chinese new year is fast approaching,
Happens this time every year.
Its a good time to pump more of your hard earned into alt coins

Excellent opportunity to reduce your average fiat price per coin. Smart investors are currently buying more and hodling on.

SteelyDanJalapeno · 14-03-2018 09:50PM

Wall Street Bonuses all gone

Thargor · 14-03-2018 10:54PM

Fecks sake wheres the bottom, Im still well up so not starting to worry yet but this is sickening watching profits evaporate. But then again if you look at the charts Q1 is always sh1te. Wonder what the picture will be this time next year?

ZeroThreat · 15-03-2018 12:44AM

BrownFinger wrote: »

Chinese new year is fast approaching,
Happens this time every year.
Its a good time to pump more of your hard earned into alt coins

I thought Chinese new year was last month?

makeorbrake · 15-03-2018 12:49AM

Pintman Paddy Losty wrote: »

Buttcoin taking an absolute hammering at the moment.

Go back to yer pint a plain and yer packet a crips!

Pintman Paddy Losty · 15-03-2018 01:04AM

My prediction is $6000 by April 1st

papu · 15-03-2018 01:29AM

makeorbrake wrote: »

Bob24 wrote: »

Very sharp drop in value for all cryptos in the past week btw. Another few days like this and everything which was regained since the early Feb bottom will have been lost again.

What if any rationale can be affixed to the fall?

Google to ban crypto ads around June
https://www.cnbc.com/2018/03/13/google-bans-crypto-ads.html

grindle · 15-03-2018 01:34AM

papu wrote: »

Google to ban crypto ads around June
https://www.cnbc.com/2018/03/13/google-bans-crypto-ads.html

Good? But not a reason for this fall.

This leveraging of HUGE amounts of funds doesn't come from small blips like that.
Especially news that's essentially positive for the space as a whole.

Bob24 · 15-03-2018 03:51AM

ZeroThreat wrote: »

BrownFinger wrote: »

Chinese new year is fast approaching,
Happens this time every year.
Its a good time to pump more of your hard earned into alt coins

I thought Chinese new year was last month?

It was a sarcastic comment. Last time there was a crash several posts here explained it by Chinese New Year approaching.

shinju · 15-03-2018 08:33AM

makeorbrake wrote: »

What if any rationale can be affixed to the fall?

https://www.ccn.com/bitcoin-drops-8030-cryptocurrency-market-continues-slump/

Chancer3001 · 15-03-2018 08:33AM

The decline and dip is frightening at this stage.

Told it continues people will have to cut their losses and run

Can't keep explaining away dips as good time to buy

lifeandtimes · 15-03-2018 08:42AM

Chancer3001 wrote: »

The decline and dip is frightening at this stage.

Told it continues people will have to cut their losses and run

Can't keep explaining away dips as good time to buy

Ok and when the stock market does it what's the outcome then?

These arent get quick rich schemes, this market is as volatile as they come. People need to stop telling other people to cut their losses and run. Cryptos are a long term investment
Why would anyone cut losses when they should only invest what they can afford to lose?
Which in my advice means you then leave your cryptos where they are and check back in 3 months, 6 months , 1 year
What's the point in taking a loss on something in your mind you've already lost?

Your kind of mentality is what's caused this market to go absolutely mental for the last 5 months

Bob24 · 15-03-2018 09:29AM

A falling digital assset with no associated practical use or physical asset is not not like as stock though.
It is more like a fast devaluating fiat currency in which people are losing confidence (possibly because the state backing it is failing). I.e. something which has value *only* because people agree it does and which could be worth nothing is that agreement is lost completely. On the other hand a company owns physical assets and sells products which make money, and this give its stock intrinsic value (on top of which there can be speculation).

Not saying cryptos are all dying of course. But it is a bad idea to treat cryptos like stocks IMO.

And at least an hyperinflated fiat currency can be used as wallpaper if you failed to recognise it would never recover early enough :-) What to do with an hyperinflated digital one?

Chancer3001 · 15-03-2018 09:34AM

lifeandtimes wrote: »

Ok and when the stock market does it what's the outcome then?

These arent get quick rich schemes, this market is as volatile as they come. People need to stop telling other people to cut their losses and run. Cryptos are a long term investment
Why would anyone cut losses when they should only invest what they can afford to lose?
Which in my advice means you then leave your cryptos where they are and check back in 3 months, 6 months , 1 year
What's the point in taking a loss on something in your mind you've already lost?

Your kind of mentality is what's caused this market to go absolutely mental for the last 5 months

You're miles off.

If the value of something is going to zero...why wouldn't people cash out at 9 dollars even tho they bought at 10. Cut your losses .

It's people like you who will be left holding all the coins at the end. Hold on to the dear end. End up with a huge pile of coins worth absolutely zero fiat.

grindle · 15-03-2018 10:23AM

Chancer3001 wrote: »

If the value of something is going to zero...why wouldn't people cash out at 9 dollars even tho they bought at 10. Cut your losses .

Which projects are going to zero though? Have you a certain idea of which projects are going to zero? Most deserve to, some don't. I'd love to hear your detailed analysis.

This type of chat is very reminiscent of last summer, end of July. People losing the run of themselves with consistent downwards or sideways movement, forums filling with distress. I'm not sure if it's reached fever pitch yet - I think it'll go lower, but it could snap back into action on any given day.

Chancer3001 wrote: »

It's people like you who will be left holding all the coins at the end. Hold on to the dear end. End up with a huge pile of coins worth absolutely zero fiat.

Which coins? Be specific. You think everything in crypto is headed to zero? Then you'll be shaken out. That's a good thing. This is a long term game and you're letting your emotions get in the way of the fundamentals.
People should stop spending time on the spazzy trading sections of sites drawing memelines and spend time researching the use-cases, become inspired and get into development or figure out how their business could make use of the technology. This is what coins should be bought for anyway. Use.
They're priced far ahead of their use and have been since last spring.
Hopefully the panic continues and ETH reaches <$300 again, that would be delicious.

drunkmonkey · 15-03-2018 10:39AM

Worth a read from the Nasdaq, might settle a few nerves https://m.nasdaq.com/article/the-king-is-not-dead-5-reasons-bitcoin-could-bounce-back-cm934914

annie.t · 15-03-2018 10:44AM

I see new bitcoin obituaries are out now

lifeandtimes · 15-03-2018 11:21AM

Bob24 wrote: »

A falling digital assset with no associated practical use or physical asset is not not like as stock though.
It is more like a fast devaluating fiat currency in which people are losing confidence (possibly because the state backing it is failing). I.e. something which has value *only* because people agree it does and which could be worth nothing is that agreement is lost completely. On the other hand a company owns physical assets and sells products which make money, and this give its stock intrinsic value (on top of which there can be speculation).

Not saying cryptos are all dying of course. But it is a bad idea to treat cryptos like stocks IMO.

And at least an hyperinflated fiat currency can be used as wallpaper if you failed to recognise it would never recover early enough :-) What to do with an hyperinflated digital one?

You obviously havent researched enough of the coins, some are worthless and have no value, however some and one im invested in is currently being used by stores, parking lots etc as a means of payment, just tap your phone over a QR code and boom payment made.

This in turn gives the digital asset real value, just like fiat, lots of people dont carry cash anymore and use their card or phone, this is the exact same however the coin i hold has no banking fees attached to it and is exchanged instantly anywhere in the world to anyone who has a wallet for it.

Cryptocurrencys potential is huge however only .9% of the world use it. People on this planet care about money and making and keeping as much as they can and once they see the money that can be saved for them and how easy it is to use(literally the same as fiat) it wont be long until they all switch over

listermint · 15-03-2018 11:24AM

lifeandtimes wrote: »

Ok and when the stock market does it what's the outcome then?

These arent get quick rich schemes, this market is as volatile as they come. People need to stop telling other people to cut their losses and run. Cryptos are a long term investment
Why would anyone cut losses when they should only invest what they can afford to lose?
Which in my advice means you then leave your cryptos where they are and check back in 3 months, 6 months , 1 year
What's the point in taking a loss on something in your mind you've already lost?

Your kind of mentality is what's caused this market to go absolutely mental for the last 5 months

Bitcoin is the epitome of a get rich scheme, The only reason it become so popular is the fear of missing out.

There will be books written on how its a fine example of get rich quick scheme,

Bob24 · 15-03-2018 11:37AM

lifeandtimes wrote: »

Bob24 wrote: »

A falling digital assset with no associated practical use or physical asset is not not like as stock though.
It is more like a fast devaluating fiat currency in which people are losing confidence (possibly because the state backing it is failing). I.e. something which has value *only* because people agree it does and which could be worth nothing is that agreement is lost completely. On the other hand a company owns physical assets and sells products which make money, and this give its stock intrinsic value (on top of which there can be speculation).

Not saying cryptos are all dying of course. But it is a bad idea to treat cryptos like stocks IMO.

And at least an hyperinflated fiat currency can be used as wallpaper if you failed to recognise it would never recover early enough :-) What to do with an hyperinflated digital one?

You obviously havent researched enough of the coins, some are worthless and have no value, however some and one im invested in is currently being used by stores, parking lots etc as a means of payment, just tap your phone over a QR code and boom payment made.

This in turn gives the digital asset real value, just like fiat, lots of people dont carry cash anymore and use their card or phone, this is the exact same however the coin i hold has no banking fees attached to it and is exchanged instantly anywhere in the world to anyone who has a wallet for it.

I don't think you read/understood my post fully. I did not say none of the coins are being used, although this is what you seem to have understood. Also the fact that coins value is purely based on popular consensus to make them redeemable at that value and not due to intrinsic value - indeed just like fiat currency as I had mentioned as well - is precisely why they can't be treated like stocks as I explained.

grindle · 15-03-2018 11:40AM

listermint wrote: »

Bitcoin is the epitome of a get rich scheme, The only reason it become so popular is the fear of missing out.

"epitome"? It's missing the calling cards of a get rich quick scheme tbh. Get rich quick schemes guarantee reward. When people lose interest in the idea it can just as easily be pegged as a get poor scheme, so I don't see how it can be viewed as the epitome of a get rich scheme.
BTC only guarantees you a place in the ledger after purchasing, whether or not you get rewarded with higher purchasing power depends on adoption.

Dades · 15-03-2018 11:57AM

lifeandtimes wrote: »

People need to stop telling other people to cut their losses and run. Cryptos are a long term investment

With respect, people need to stop telling anyone to do anything but DYOR. Telling people to hodl is potentially as bad advice as to cut and run.

If someone believes a dip is going to become a mini-crash then why shouldn't they cash out and wait? They might get burned but only if the decline arrests quickly and they don't get back in at where they sold.

HODL is fine too, but if the price is going to recover then there's an opportunity to buy in at a lower price if get your timing right.

Like everything, it depends on how proactive you want to be, what you believe is going to happen and how lucky you get. Hodlers can hodl. Gamblers can gamble.

Is anyone else starting to become a bit worried? mod note in first post

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