BTC crashes again

[Coinaire]

Is it intentional or what?

 

[GhostVision]

and aren't you happy because bitcoin is down?

 

[MrDenz]

Intentional 100%...

Reason?

Elon did not tweet for 15 minutes, he was flying to Mars to pick up some $SCAM coins, McAfee told me as he was not having a signal out there.

 

[MgicalaEarner]

Wow that's cool my dream is coming,
I can buy soon 1 btc in $0.01

 

[AlexanderTheGreat]

Yeah! Great opportunity for beginners to buy a BTC for $500 soon
So happy everybody gets a new chance in his / her life !

 

[silenzio_im]

very good for me

 

[Brickbat1]

Is it intentional or what?

It was obvious yesterdays bounce up was a retracement of the sharp fall. Its not Elon, its the USDT issue that is becoming the frontburner concern of every whale investor in crypto. Its contagion.

 

[Erroralrobert5]

damn its sinking

 

[bartosimpsonio]

I been saying. Tulips. This is just like tulips all over again.

Bitcoin is a great technology, which tulips isn't. But the crazy valuations and cult-like shit is tulips no doubt.

 

[b1step-ahead]

Is it intentional or what?

btc isnt a currency or money - only way to make money is to have more people buying in - at $59k less people were/are buying in so those that were in sold their coins or shares. It can hit 55k or 15k in the next 15 minutes..

 

[oldguyjoe]

Can one of the BTC advocates explain to me their reasoning why, in their opinion, BTC is not just another fiat?

 

[BbHhWwVM]

I crash myself every day, yet nobody cares

Crashing makes me grow

 

[macdonjo3]

Can one of the BTC advocates explain to me their reasoning why, in their opinion, BTC is not just another fiat?

I'm not an advocate (not a beginner either, just dumb) but the government prints fiat and causes inflation - the depreciation of fiat. Meaning to hold your net worth steady you have to invest or do something with it.

I do wonder though if BTC causes more people to hang onto their money and not spend/invest, won't that also kill an economy?

 

[tb303]

I been saying. Tulips. This is just like tulips all over again.

Bitcoin is a great technology, which tulips isn't. But the crazy valuations and cult-like shit is tulips no doubt.

Youll remember last bull run there was sherb on here saying it was tulip mania. Its worth remembering that tulip mania only happened once.

Fingers crossed you get to call it tulip mania again in 4 years.

This shitcoin nonsense was your tulips, dont mix that up with Bitcoin.

 

[CPANathan]

Can one of the BTC advocates explain to me their reasoning why, in their opinion, BTC is not just another fiat?

I never even thought of this to be honest, still my opinion means nothing on this thread so gonna keep reading lol

 

[oldguyjoe]

I'm not an advocate (not a beginner either, just dumb) but the government prints fiat and causes inflation - the depreciation of fiat. Meaning to hold your net worth steady you have to invest or do something with it.

I do wonder though if BTC causes more people to hang onto their money and not spend/invest, won't that also kill an economy?

Hm, is checking the finite supply of BTC sufficient to say that it is not fiat? If standard fiat currency supply was caped, wouldn't that just cause deflation but it wouldn't make it not-fiat? I don't see any intrinsic value in BTC, it is as fake as EUR or USD.

 

[oatmeal]

It's not just Bitcoin. Crypto is all crashing right now. ETH has dropped 40% so it is crashing worse than BTC.
Why is all crypto crashing? When should I start buying? lol

 

[Larry Igna]

Can one of the BTC advocates explain to me their reasoning why, in their opinion, BTC is not just another fiat?

Not another FIAT because:
1.There's no money printing machine, fixed amount released gradually and that's all. 21 millions, not more
2. No counterfeiting. At all
3. No chargebacks, no middleman if you want.
Fast (could argue), online (all banks do that), simple (in theory) are some other features, theoretically making it better, but .. parentheses.
I'm not a big BTC advocate, however blockhain technology is/will be disruptive. Big fan of that. Bitcoin represents blockhain, therefore value.
My 2c

 

[macdonjo3]

Hm, is checking the finite supply of BTC sufficient to say that it is not fiat? If standard fiat currency supply was caped, wouldn't that just cause deflation but it wouldn't make it not-fiat? I don't see any intrinsic value in BTC, it is as fake as EUR or USD.

Yes, it would indeed be a step in the right direction, but we know USD or EUR won't do that. I mainly use crypto to send money for some transactions because:

- It is accepted in all countries
- It can't be reversed so risk is lower
- It's accepted by more vendors in the black hat space than PayPal
- It is sufficiently anonymous for my purposes

Vendors also often offer 5% discounts with crypto because of its benefits.

Again, I'm a noob when it comes to crypto, but these are the reasons I regularly buy things with crypto over fiat. I'm not a power user but I wouldn't be surprised if I buy more things with crypto than the 99% of the population so I guess an early-adopter. I think more people "invest" in crypto than actually use it for what it is, which is weird. For these "investors" to see real results, they need to push vendors they shop with to accept crypto. They also need to offer clients/employers the opportunity to be paid in BTC.

A crypto junkie should ideally be working to get their pay check in crypto and pay their rent and groceries in crypto.

 

[oldguyjoe]

Not another FIAT because:
1.There's no money printing machine, fixed amount released gradually and that's all. 21 millions, not more
2. No counterfeiting. At all
3. No chargebacks, no middleman if you want.
Fast (could argue), online (all banks do that), simple (in theory) are some other features, theoretically making it better, but .. parentheses.
I'm not a big BTC advocate, however blockhain technology is/will be disruptive. Big fan of that. Bitcoin represents blockhain, therefore value.
My 2c

Imho, saying that BTC represents blockchain is like saying paper money represents printing press or ink. The technology is useful, but the paper/bits that come out do not necessarily have intrinsic value, in fact paper has higher (albeit close to none) intrinsic value than digital money by itself. You listed a lot of benefits of a decentralized digital money, but none of them imply that there is intrinsic value in the digital currency itself. Do note we are talking here strictly about BTC, not about “smart contracts” etc… Not looking to argue, I am just questioning the mantra that BTC will “save us from fiat”.

Yes, it would indeed be a step in the right direction, but we know USD or EUR won't do that. I mainly use crypto to send money for some transactions because:

- It is accepted in all countries
- It can't be reversed so risk is lower
- It's accepted by more vendors in the black hat space than PayPal
- It is sufficiently anonymous for my purposes

Vendors also often offer 5% discounts with crypto because of its benefits.

Again, I'm a noob when it comes to crypto, but these are the reasons I regularly buy things with crypto over fiat. I'm not a power user but I wouldn't be surprised if I buy more things with crypto than the 99% of the population so I guess an early-adopter. I think more people "invest" in crypto than actually use it for what it is, which is weird. For these "investors" to see real results, they need to push vendors they shop with to accept crypto. They also need to offer clients/employers the opportunity to be paid in BTC.

A crypto junkie should ideally be working to get their pay check in crypto and pay their rent and groceries in crypto.

I use crypto as well, but mostly I buy other cryptos with BTC, I don’t pay directly with BTC because fees are too high.