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

KarlMarks · 11-10-2018 12:58PM

I was so wrong. Completely misread the market. This is a very tough day. Doubled down on some of my coins.

Pintman and Johnny were correct all along. This is all bullsh1t. Full of scammers and fools.

grindle · 11-10-2018 01:07PM

KarlMarks wrote: »

Pintman and Johnny were correct all along. This is all bullsh1t. Full of scammers and fools.

Reverse psychology, I see where you're going with this...

Yes. I agree. Everything drops to zero today. There are no benefits to decentralisation or trustlessness, governments and corporations largely have our interests at heart and don't see us as an easy target for a wallet-squeeze.
Selling everything and investing it into my current account, suggest you all do the same.

sexmag · 11-10-2018 01:21PM

The crash in the last 24 hours coincides with the stock market going down too

What needs to be understood is the vast majority of people who hold the most crypto are massively wealthy people who are heavily involved in stocks too and who have this as throw away money, if the stock market goes down they cant get their money back out quick enough or at a loss so will take their money back out of the crypto until their main investments go up again. At which point theyll buy back into crypto as a stop gap

We seem to be unfortunately tied to the stock market and some of the heavy players in it

also this is all my speculation and not crypto advice so dont use me as an example of you selling if the stocks go down again:D

hots · 11-10-2018 01:22PM

I think the comedy value of this thread has been as enjoyable as the actual crypto punts themselves, can't beat it :pac:

banie01 · 11-10-2018 01:59PM

sexmag wrote: »

The crash in the last 24 hours coincides with the stock market going down too

What needs to be understood is the vast majority of people who hold the most crypto are massively wealthy people who are heavily involved in stocks too and who have this as throw away money, if the stock market goes down they cant get their money back out quick enough or at a loss so will take their money back out of the crypto until their main investments go up again. At which point theyll buy back into crypto as a stop gap

We seem to be unfortunately tied to the stock market and some of the heavy players in it

also this is all my speculation and not crypto advice so dont use me as an example of you selling if the stocks go down again:D

If your analogy is to be in anyway accurate, you would expect the stock market pullbacks to be in some way mirrored in the crypto market.
They aren't, indeed crypto often moves in completely the opposite direction which lends some credence to those who argue BTC as a "safe haven" or gold analogue.

The whales, the Chinese new year, The Chinese miners attempting a 51%, the ETF, The SEC, Bitmain and my new favourite, throw away money....
Theres very little logic to crypto market fluctuations and trying to chase some will only lead to psychosis

Dohnjoe · 11-10-2018 02:19PM

Stock market: crashes 4% due to X news and concern over rising rates

Crypto market: "hold my beer"

banie01 · 11-10-2018 02:23PM

Dohnjoe wrote: »

Stock market: crashes 4% due to X news and concern over rising rates

Crypto market: "hold my beer"

And its Q3 reporting time too

Whats really mad, is that I'm down more in my Stocks portfolio over yesterday and this morning than my crypto.

makeorbrake · 11-10-2018 02:59PM

banie01 wrote: »

They aren't, indeed crypto often moves in completely the opposite direction which lends some credence to those who argue BTC as a "safe haven" or gold analogue.

My understanding was that crypto is supposed to be a hedge against a stock market crash. I don't understand why it wouldnt be but the last 24 hour dip seems to rubbish that theory/belief.....

banie01 · 11-10-2018 03:05PM

makeorbrake wrote: »

My understanding was that crypto is supposed to be a hedge against a stock market crash. I don't understand why it wouldnt be but the last 24 hour dip seems to rubbish that theory/belief.....

Thats the theory some espouse, dont buy it myself.
But I was pointing out to Sexmag that if the dip in equities was linked with the dip in cryto that one would expect to see correalation on past dips, but there isn't any.
Usually the wisdom is that crypto rises as stock dips in the same manner as bonds and precious metals.
This latest dip is further proof that the market really is irrational.

Dohnjoe · 11-10-2018 03:09PM

makeorbrake wrote: »

My understanding was that crypto is supposed to be a hedge against a stock market crash. I don't understand why it wouldnt be but the last 24 hour dip seems to rubbish that theory/belief.....

It's an irrational market, we're still in the bear, low confidence. Typically we find out 12 or 24 hours post-fact the real reason why traders set off the sell. Or it could have just been another "flock of birds" drop

I decided to break with my tradition of waiting for a drop and bought yesterday, of course it dropped 10% today :pac:

Bob24 · 11-10-2018 03:28PM

Even with today’s minor drop, BTC has been more less volatile in the past 2 months than it has been for a *very* long time before.

It’s a non event unless we see a repeat for several days in a row.

Pintman Paddy Losty · 15-10-2018 01:45PM

Looks like tether is in trouble.

grindle · 15-10-2018 02:08PM

Hopefully.

Kenny Logins · 15-10-2018 02:23PM

Pintman Paddy Losty wrote: »

Looks like tether is in trouble.

A dollar is only worth 96c. Seems OK. This is fine.

Dr Bolouswki · 15-10-2018 04:21PM

Probably the bounce in the market is people dumping tether.

smacl · 15-10-2018 04:45PM

Dr Bolouswki wrote: »

Probably the bounce in the market is people dumping tether.

Be interesting to see how and if tether holds under sell pressure. If that 96c became 90c I'd say people would start trying to liquidate their tether en-masse as fast as possible which could cause a total collapse and more significant downturn in other crypto followed by a slower rebuild period. Could be an excellent opportunity to buy if this happens.

makeorbrake · 15-10-2018 06:06PM

smacl wrote: »

Be interesting to see how and if tether holds under sell pressure. If that 96c became 90c I'd say people would start trying to liquidate their tether en-masse as fast as possible which could cause a total collapse and more significant downturn in other crypto followed by a slower rebuild period. Could be an excellent opportunity to buy if this happens.

Apparently they did. It went down as far as 85 cents on Kraken at one stage. However, Bitfinex have subsequently released a statement saying their FIAT deposit issue will be resolved tomorrow and there's also speculation that some FUD re. Binance delisting USDT may have started the whole thing off.

Not defending them - I'd rather see them out of the space unless they start to publish proper audits again. However, they seem to have gotten out of plenty of knots on a number of occasions already. They'll probably do so again.

TheAnalyst_ · 15-10-2018 06:09PM

Have to laugh at you lads consistently losing your arse on magic coins.

Truckermal · 15-10-2018 06:22PM

I'm after great luck with ETH! I purchased at €145 then sold at €190 and bought back at €162 then repeated that process 4 more times! I am after gaining 11.5 ETH from that bit of trading.

Crypto is mad though so much can change in a hour not to mind a few days!

cnocbui · 15-10-2018 06:28PM

TheAnalyst_ wrote: »

Have to laugh at you lads consistently losing your arse on magic coins.

I'm laughing at you laughing. :cool:

tcawley29 · 15-10-2018 06:49PM

How long does it take a sepa to hit gdax/coinbase pro these days?

LoLth · 15-10-2018 07:34PM

TheAnalyst_ wrote: »

Have to laugh at you lads consistently losing your arse on magic coins.

Its literally rule number one of the charter....

this may be an alien concept but this is a discussion forum. you can disagree with the posters, you are entitled to your point of view and you can express that opinion and defend it through discussion but please, dont be a dick about it.

Kenny Logins · 15-10-2018 09:30PM

tcawley29 wrote: »

How long does it take a sepa to hit gdax/coinbase pro these days?

It can be as quick as an hour if you get in before 2pm. Next day otherwise.

tcawley29 · 16-10-2018 01:05AM

Kenny Logins wrote: »

It can be as quick as an hour if you get in before 2pm. Next day otherwise.

Looks like its tomorrow so. Looking forward to it

Going to start off with eth and ltc I think

Bob24 · 16-10-2018 08:36AM

makeorbrake wrote: »

Not defending them - I'd rather see them out of the space unless they start to publish proper audits again.

Have they ever published a proper audit? (I remember one audit being published, but it was full of caveats)

makeorbrake wrote: »

However, they seem to have gotten out of plenty of knots on a number of occasions already. They'll probably do so again.

Yes, agree with that.

el diablo · 16-10-2018 07:21PM

TheAnalyst_ wrote: »

Have to laugh at you lads consistently losing your arse on magic coins.

Have to laugh at the bitter, salty no-coiners who missed out on the massive gains and therefore choose to bash crypto and blockchain technology. Still not too late for you to educate yourself in the crypto space as we're still very early adopters here.

Truckermal · 16-10-2018 07:23PM

tcawley29 wrote: »

Looks like its tomorrow so. Looking forward to it

Going to start off with eth and ltc I think

I wouldn't invest in LTC being honest!

makeorbrake · 16-10-2018 07:28PM

Bob24 wrote: »

Have they ever published a proper audit? (I remember one audit being published, but it was full of caveats)

I can't recall to be honest. They tried to pacify some of the concern a couple of months back by producing this statement from a firm of attorneys which has no credibility or bearing - and porous in terms of caveats - I'd imagine that's the one you're referring to.

Some are suggesting that it is because of the nature of the $ they are handling (for some customers - not all!) that they won't cooperate with auditors as they don't want certain info made available to the U.S. That's entirely speculative of course - but it's probably better than the other potential reality i.e. they don't have the money to back it.

Either way, it's not going to be a feasible entity in the crypto space in the longer term as even if it's not abusing its position right now, it will do (or someone else will do).

grindle · 16-10-2018 07:49PM

TheAnalyst_ wrote: »

"TheAnalyst_"

Mmhmm.

sexmag · 16-10-2018 08:33PM

makeorbrake wrote: »

I can't recall to be honest. They tried to pacify some of the concern a couple of months back by producing this statement from a firm of attorneys which has no credibility or bearing - and porous in terms of caveats - I'd imagine that's the one you're referring to.

Some are suggesting that it is because of the nature of the $ they are handling (for some customers - not all!) that they won't cooperate with auditors as they don't want certain info made available to the U.S. That's entirely speculative of course - but it's probably better than the other potential reality i.e. they don't have the money to back it.

Either way, it's not going to be a feasible entity in the crypto space in the longer term as even if it's not abusing its position right now, it will do (or someone else will do).

I remember hearing rumours of cartel money being used as collateral and in turn they laundered the money back to them from the fiat they had from trades. Again rumours but not a far step of the imagination seeing as they claimed their holdings are in a bank in South America

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

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