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

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    #62
    Larbre34
    Registered Users Posts: 23,796 ✭✭✭✭Larbre34


    Get out of it lads, I'm told by a broker friend (traditional broker) that an undercurrent on messaging at Davos was that crypto is to be targeted and torpedoed.

    Those in political power are concerned that attractiveness+volatility is not a formula they wish to tolerate in an already uncertain era. They don't want bigger commercial entities becoming involved and exposed, so they want to kill it.


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    #63
    drunkmonkey
    Registered Users Posts: 28,100 ✭✭✭✭drunkmonkey


    Larbre34 wrote: »
    Get out of it lads, I'm told by a broker friend (traditional broker) that an undercurrent on messaging at Davos was that crypto is to be targeted and torpedoed.

    Those in political power are concerned that attractiveness+volatility is not a formula they wish to tolerate in an already uncertain era. They don't want bigger commercial entities becoming involved and exposed, so they want to kill it.

    Of course they want to kill it, blockchain has major impacts for their business model. I'm invested in a company making Etherum and one of the biggest brokerages in the world has upped there stake 3 times over the last few months. There even paying their employees in crypto. So I'd take your mate in Davos advice with a pinch of salt when you look at what Fidelity are up to.


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    #64
    lawred2
    Registered Users Posts: 24,267 ✭✭✭✭lawred2


    pro_gnostic_8 wrote: »
    Give you a break? Nobody, nor me, is going medieval on your ass. Don't shoot the messenger; take from the news whatever you may. The Indian bitcoin market is diving downwards as we speak.
    I will add in response to your second sentence quoted above that the market as a whole is smarter than you or me or any other individual on here.

    don't be so sensitive - that wasn't aimed at you


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    #65
    seannash
    Registered Users Posts: 5,672 ✭✭✭seannash


    Larbre34 wrote: »
    Get out of it lads, I'm told by a broker friend (traditional broker) that an undercurrent on messaging at Davos was that crypto is to be targeted and torpedoed.

    Those in political power are concerned that attractiveness+volatility is not a formula they wish to tolerate in an already uncertain era. They don't want bigger commercial entities becoming involved and exposed, so they want to kill it.
    This presents traditional investors their biggest opportunities. An unregulated market that they can manipulate and you think they want to bury it?

    Blockchain tech will reduce overhead for financial institutions as well so their bottom line will be improved.
    Traditional investors who fear change want to bury it but I'd wager modern investors are all over this.


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    #66
    Tinder Surprise
    Registered Users Posts: 1,462 ✭✭✭Tinder Surprise


    I think most people agree that when the market cap was ~$800+ billion that most coins were at least 50% over priced (give or take) so I have my own theory that the market wont settle til around the $400billion cap which leaves us a bit more to fall.


    I'm thinking the weak hands will soon be all gone, and the majority of folk remaining will see that its makes no sense to sell when the look at the state of their portfolios.

    giving it til this day next week to gauge things better (hopefully) and at that point will make some decisions.


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    #67
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Tinder Surprise wrote: »
    II'm thinking the weak hands will soon be all gone, and the majority of folk remaining will see that its makes no sense to sell when the look at the state of their portfolios.

    giving it til this day next week to gauge things better (hopefully) and at that point will make some decisions.
    I have a number in my head that if... when... my portfolio returns to I'm going to take half and run. I'll probably keep small a bunch of coins just to have skin in the game, and for the fun of hoping for a moon-run.


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    #68
    Autochange
    Banned (with Prison Access) Posts: 1,648 ✭✭✭Autochange


    Anyone brave enough to be buying this dip? ( If it is a dip)

    I'd love to top up my ven but it's just too volatile at the minute. I wonder will another run at the Asian markets take it down further.

    Around midnight here is 9 am in Seoul I believe.


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    #69
    seannash
    Registered Users Posts: 5,672 ✭✭✭seannash


    Bitcoin is down near where it was in November now


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    #70
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    I think Bitcoin could fall back as low as $5000, FUD is starting to get a real grip, folks need to be prepaired for that. The Alt coins will not be immune either, infact worse case when they start to fall it will not be as orderly as Bitcoin, expect some of those to do the 80% drops over night.
    This looks like it could be abother milestone in the Bitcoin story, hopefully it will loosen the grip the miners have on the network and we get real change and proper adoption instead of speculative investment


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    #71
    Wombatman
    Registered Users Posts: 3,337 ✭✭✭Wombatman


    Will $9000 $8000 hold?


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    #72
    WhiteMemento9
    Registered Users Posts: 1,573 ✭✭✭WhiteMemento9


    Wombatman wrote: »
    Will $9000 $8000 hold?

    Puke. Fell to 9500 before seeing support in the last proper crash. This is around the area that we really need to start seeing support.


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    #73
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Right now, only ONE of Coinmarketcap's top 100 is showing green for the last 24hrs (a rise of 3.53%).

    Mad, Ted.


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    #74
    lawred2
    Registered Users Posts: 24,267 ✭✭✭✭lawred2


    Dades wrote: »
    Right now, only ONE of Coinmarketcap's top 100 is showing green for the last 24hrs (a rise of 3.53%).

    Mad, Ted.

    That's largely because everything bar a handful is ultimately traded against BTC.

    NEO is near ath against BTC but because BTC is tanking NEO is in the red.


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    #75
    JohnnyFlash
    Registered Users Posts: 7,055 ✭✭✭JohnnyFlash


    7000 bitcoins just transferred from a private wallet to an exchange.

    https://bitinfocharts.com/de/bitcoin/address/16rCmCmbuWDhPjWTrpQGaU3EPdZF7MTdUk


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    #76
    Anthracite
    Closed Accounts Posts: 805 ✭✭✭Anthracite


    Tinder Surprise wrote: »
    I think most people agree that when the market cap was ~$800+ billion that most coins were at least 50% over priced (give or take) so I have my own theory that the market wont settle til around the $400billion cap which leaves us a bit more to fall.

    If it was 50% overvalued at 800 billion, then 'fair value' would be 530 billion or so.


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    #77
    Popeleo
    Registered Users Posts: 422 ✭✭Popeleo


    JohnnyFlash wrote: »
    7000 bitcoins just transferred from a private wallet to an exchange.

    https://bitinfocharts.com/de/bitcoin/address/16rCmCmbuWDhPjWTrpQGaU3EPdZF7MTdUk

    Interesting wallet! A stake of over 1% of all bitcoins, built up since last April.

    Made a lot of money earlier but probably regretting buying 60,000 bitcoins at around 13k at the end of the year.

    At 9k, those 60k alone are down $240 million in a month and the worth of their total stake is down a billion since New Year. Ouch!


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    #78
    WhiteMemento9
    Registered Users Posts: 1,573 ✭✭✭WhiteMemento9


    Popeleo wrote: »
    Interesting wallet! A stake of over 1% of all bitcoins, built up since last April.

    Made a lot of money earlier but probably regretting buying 60,000 bitcoins at around 13k at the end of the year.

    At 9k, those 60k alone are down $240 million in a month and the worth of their total stake is down a billion since New Year. Ouch!

    It is currently the largest BTC wallet in existence. It is most likely an exchange wallet. I think Binance is probably most likely given the dates involved.


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    #79
    Dohnjoe
    Registered Users Posts: 17,775 ✭✭✭✭Dohnjoe


    pro_gnostic_8 wrote: »
    I dunno, I am inclined to think that these governments understand very well the nature of crypto ............. or at least they recognise the potential of crypto to blow away their own established monetary systems. And they -- and their elite bankster cronies -- are scared.
    If I was the suspicious type, I would suspect that there is lately a co-ordinated attack on crypto by way of fearmongering, Fud, and outright lies, by governments across the world -- China, E.U., S. Korea, India, etc.

    Can we stop with the pseudo Alex Jones conspiracy nonsense

    Whether governments or officials understand crypto or not, they have a duty to protect the public from scams, ropey exchanges, fraud, laundering, hacks, ponzi schemes, etc. Tax authorities have to curb tax evasion.

    Crypto is an unregulated cesspit. Great fun for greedy speculators and investors like us, but risky and downright dangerous for joe public


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    #80
    4068ac1elhodqr
    Closed Accounts Posts: 9,586 ✭✭✭4068ac1elhodqr


    BTC @8,700 that will surely get a few sweats going.

    FHlY3UO.png


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    #81
    techteacher
    Registered Users Posts: 85 ✭✭techteacher


    i cashed out but now i wonder how low will it go ? my guess here for tomorrow at midnight is 7800


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    #82
    DANNY2014
    Registered Users Posts: 1,164 ✭✭✭DANNY2014


    Could all this slightly still be Chinese New year as it isn't till Feb 16???


    2017 was 28 Jan starts goin up 30 jan 2017

    2016 8 Feb starts goin up 12 Feb 2016

    2015 19 feb goes up near end of Feb 2015

    Or is it all completely bollo*ed...

    Id imagine it'll go down more over the next week so time to buy some dips of the dips of the dips...


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    #83
    seannash
    Registered Users Posts: 5,672 ✭✭✭seannash


    DANNY2014 wrote: »
    Could all this slightly still be Chinese New year as it isn't till Feb 16???


    2017 was 28 Jan starts goin up 30 jan 2017

    2016 8 Feb starts goin up 12 Feb 2016

    2015 19 feb goes up near end of Feb 2015

    Or is it all completely bollo*ed...

    Id imagine it'll go down more over the next week so time to buy some dips of the dips of the dips...

    I don't think it's Chinese new year. Its a number of things really I think but the main two from yesterday were
    India's announcement
    Facebook announcing they are banning Crypto adverts

    On forums much larger than here you will have people saying its the begining of the end, Zuckerberg knows something etc etc where in reality Facebook probably decided to class crypto as gambling and decided not to promote it.

    Could this kick off a much more severe downward spiral? who knows. I reckon a lot of long term investors are taking profit now so not exactly cashing in all their coins but cashing in enough to cover what they put in and then some.

    There's been dips before but I don't recall those dips being about regulation (Please correct me if I'm wrong, I hope I am)


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    #84
    MentalMario
    Registered Users Posts: 525 ✭✭✭MentalMario


    seannash wrote: »
    I don't think it's Chinese new year. Its a number of things really I think but the main two from yesterday were
    India's announcement
    Facebook announcing they are banning Crypto adverts

    On forums much larger than here you will have people saying its the begining of the end, Zuckerberg knows something etc etc where in reality Facebook probably decided to class crypto as gambling and decided not to promote it.

    Could this kick off a much more severe downward spiral? who knows. I reckon a lot of long term investors are taking profit now so not exactly cashing in all their coins but cashing in enough to cover what they put in and then some.

    There's been dips before but I don't recall those dips being about regulation (Please correct me if I'm wrong, I hope I am)

    It looks like Adwords have banned a lot of crypto related ads too, as have Taboola.


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    #85
    Drumorig
    Registered Users Posts: 188 ✭✭Drumorig


    Dohnjoe wrote: »
    Can we stop with the pseudo Alex Jones conspiracy nonsense

    Whether governments or officials understand crypto or not, they have a duty to protect the public from scams, ropey exchanges, fraud, laundering, hacks, ponzi schemes, etc. Tax authorities have to curb tax evasion.
    I don't think it's a conspiracy, it's happening, look at eircoin.net, the banks shut him down, he's a message on his site there.

    Unfortunately for the bankers they are too late.


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    #86
    smacl
    Moderators, Society & Culture Moderators Posts: 15,708 Mod ✭✭✭✭smacl


    For all the talk about dips, could it simply be the spike starting at the end of November that we're still in is the anomaly, we'll see correction to levels closer to those and more steady rises afterwards?


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    #87
    DANNY2014
    Registered Users Posts: 1,164 ✭✭✭DANNY2014


    Most the ads were scams though "buy this coin this week 5000X by next week" type a stuff... Is it not a good thing to get rid of all this gunk...?

    Most the India scams that call for you to pay them in bitcoin or your windows computer is gonna get infected even though you've a mac are probably cashing out now too...(.")


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    #88
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭Pussyhands


    Put 1k in december.

    Not good, not good at all....


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    #89
    fran426ft
    Registered Users Posts: 318 ✭✭fran426ft


    Pussyhands wrote: »
    Put 1k in december.

    Not good, not good at all....

    Unfortunately I wish I only had 1k in since December.


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    #90
    Squozen
    Registered Users Posts: 117 ✭✭Squozen


    fran426ft wrote: »
    Unfortunately I wish I only had 1k in since December.

    Yep. I’ve eaten the (significant) loss and cashed out. Good luck to the rest of you.


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    #91
    lifeandtimes
    Closed Accounts Posts: 2,021 ✭✭✭lifeandtimes


    Squozen wrote: »
    Yep. I’ve eaten the (significant) loss and cashed out. Good luck to the rest of you.

    This will come to haunt you.

    As everyone says only invest what you can afford to lose.

    The way I look at it the money was already gone and the cash out at the moment is so small compared to it there's no reason to not just leave it there and see where it goes but this happens every year for the last 4.

    Check out this chart


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