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BTC drop: everything you need to know

Discussion in 'CryptoCurrency' started by BigTroll, Feb 5, 2018.

  1. Sherb

    Sherb Jr. Executive VIP Jr. VIP

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    Don't even look at this (in my opinion). It's a useless measure of value, especially for bitcoin.

    I saw this article earlier: https://www.ccn.com/600-billion-cryptocurrencies-now-worth-amazon/ (sorry about all the ads).

    "$600 Billion: Cryptocurrencies Now Worth More than Amazon"

    No they aren't. That's not even a valid measure.

    Comparing a store of value to a corporation's valuation is not a comparison with any value. They are completely different things. Assuming that cryptos are "currencies" (which they aren't), that would be the equivalent of comparing the market cap of the Icelandic Krona to the valuation of Ikea. Why would that be valid?

    Even more bothersome than that is these market caps not subtracting out coins that will never be recoverable, which for Bitcoin alone would negate tens of billions of dollars. Stocks don't do that.

    Just don't. They aren't the same, they aren't supposed to be the same.


    I gotchu fam.
     
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  2. LuckyCharm007

    LuckyCharm007 Jr. VIP Jr. VIP

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    On a side note, I fear the day a basketball player will be able to dunk without jumping at all.
     
  3. javabro

    javabro Jr. VIP Jr. VIP

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    BTC drop: everything you have heard of even if you don't have a cent invested in any of the crypto shit.
     
  4. BigTroll

    BigTroll Jr. VIP Jr. VIP

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    Exactly. That's why I still believe crypto is the future. I'm talking aboutthe tech behind blockhain.
    Google it: first car from the world problems, first fiat money problems, first built house problems, etc.


    EDIT: Funny shit, China was the first world country who adapted FIAT money. Now they are the first blocking crypto :D
     
    Last edited: Feb 6, 2018
  5. PinkArrow22

    PinkArrow22 Newbie

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    Fair enough.
     
  6. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP

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    This guy gets it.

    There you go.

    Same thing applies to the current stock markets. Money is being printed since the 2008 crash. It's 100% fake just like cryptos and you'll have proof of that soon IMO

    China was printing money and everyone criticized them. All of a sudden everyone stopped criticizing China. You know why? Because now everyone is printing money too.
     
  7. BitBullet

    BitBullet Newbie

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    I am waiting for BTC to skyrocket but now right now, if it´s later then is gonna be great.
     
  8. Muhammad Raza Khatri

    Muhammad Raza Khatri Junior Member

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    What is the acutal cost of 1 BTC in USD?
     
  9. CyberHour

    CyberHour Jr. VIP Jr. VIP

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    Looking back on my posts, around mid of Oct I said that BTC will hit 15k before xmas (BTC was around 7-8k) of course then BTC hit 20k and then I said that BTC will fall to ~9k

    Anyway , OP is right I would like to add another 2 reasons for the price manipulation -> futures and of course the so called daily traders.

    I believe that BTC (if we see Lightning Network and better privacy ) will easily recover and bypass 30k this year. Finally , I don't believe that we will see BTC over 60k before 2020 (if not replaced by other cryptocurrency by then)
     
  10. John Winter

    John Winter BANNED BANNED

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    I laugh at noobs who chucked in money they couldn't afford! Now they are in debt, dead or homeless!
     
  11. John Winter

    John Winter BANNED BANNED

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    bloody hell.
     
  12. Fudnut

    Fudnut Registered Member

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    Interesting assumption based on past data says that the next ATH for BTC will be sometime in 2020 Q1
     
  13. iplaynaked

    iplaynaked BANNED BANNED

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    the only reason why bitcoin is popular is because the way it works is amazing
    it could stop the inflation and stop the banks too
    it can even bring world peace
    the problem is not enough people take the time to understand how it works
    bitcoin will comeback.