BTC free fall happening now

Discussion in 'CryptoCurrency' started by derago21, Jun 10, 2018.

  1. Mr.PB

    Mr.PB Jr. VIP Jr. VIP

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    Hodlgang hodlgang hodlgang hodlgang
     
  2. redjebo

    redjebo Junior Member

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    No.
     
  3. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    So, I could reply "yes it is", but I'm not in the mood for visiting the argument clinic.



    In the end, it's just simple math, there is nothing to argue about.
     
  4. everythingred

    everythingred Jr. VIP Jr. VIP Premium Member

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    It's a risk. If you put your life savings into it believing it was an investment, you're a dumbass. It should be nothing more than playing around money.
     
  5. redjebo

    redjebo Junior Member

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    You could, but you'd be wrong. If you sat at a rakeless poker table, but against more experienced players or against colluding team/rigged game, that'd be a mistake.
    If you played on a zero-less roulette, but are required to pay fees for sitting/exiting the game that'd be a mistake.
    And if you thought you'd beat the forex markets (even disregarding the spread) by simply "believing" in, say, an absurd idea that tulip based currency will dominate the world and will essentially redistribute the global wealth from its current owners to those believers, that'd be a mistake.
     
  6. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Is that what you meant by "having an edge"? I find these obvious. Why would you play a basketball game for money with Lebron? In other words, your edge is to play rigged games (but be on the rigged side)?

    Despite what one hears in the pub, tulip pricing was totally rational - in case you're not aware, the Dutch market was at the time the most rich and sophisticated one - think of it something like today's City. The tulip crash was also totally rational, since the government made a law that forcefully converted existing futures to options, effectively killing demand by force and leaving the bulb owners scrambling to sell as fast as possible to minimize their obvious coming loses.
     
  7. Pepemakingmony

    Pepemakingmony Power Member

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    Forex > Crypto

    Why? In crypto the manipulation is this big ( ) the whales moves the market there is no liquidity and you cant put SELL orders
     
  8. INCC

    INCC Jr. VIP Jr. VIP

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    I was wondering other day if someone dumps such amount of coins, are there some type of protection in place or will this caliber deals go through some sort of government issued licensed act for dumping these, like does the individual/individuals/company need some type of green light from some sort of institution to pull this off? Dont know the correct word in english what im looking for, but you get the point... Otherwise this is planned market manipulation, if i know i will dump 97000 coins, i know the Forex prices will fall which gives me the opportunity to pocket another 100 million and this would be the endless cycle of this.
     
  9. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    That's the beauty of it. It's like MMA. If you are afraid of the blood, need someone to make rules to stop your from getting your shit kicked, why aren't you training in some meek sport instead? Why do you have to fight on that ring specifically? It's not like there's any kind of shortage of totally regulated markets to place your money.
     
  10. INCC

    INCC Jr. VIP Jr. VIP

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    Im okay with that, im just wondering how and if this shit is somewhat regulated.
    Most countries or legislations dont hold bitcoins or any altcoins as "circulating medium", nor a digital assets, or something equivalent, nor they have this in place in international scale.. so it's hard or impossible to control or take legal actions of deliberate manipulations.. that means a certain group of people can control the whole market as they please, and the real money is not in holding and investing in the bitcoin, but to profit from market fluctuations which means constantly moving large quantities coins inside that group of people. Never ending cycle.
     
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  11. krishnaverma

    krishnaverma Jr. VIP Jr. VIP

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    There is no regulation for this. From what I read on different platforms, it is highest in case of alt coins especially the new ones.
     
  12. redjebo

    redjebo Junior Member

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    Guess my triple crypto analogy was lost on you.
     
  13. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Or maybe - just maybe - nonsense doesn't stick.
     
  14. redjebo

    redjebo Junior Member

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    Nonsense -> The gullible, erroneous and flat out retarded believe that money (read value) are created out of thin air is what one might consider the perfect epitome of nonsense.

    P.S. Cryptotards ultimate implication is exactly that. That all the world money/value will eventually flow their way for doing nothing (but hodl, lol).
     
  15. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    I see your economics education didn't manage to reach past the 17th century :D
     
  16. redjebo

    redjebo Junior Member

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    Cool story bro :D
     
  17. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    It pays to be in the ranks of the learned.
     
  18. subster

    subster Jr. VIP Jr. VIP

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    This is not Twitter folks.
    BTC is not built out thin air, it is basically built out of electric power, which fed the computers that maintain and verify/mirror the blockchain. MAybe there are miners with photovoltaics on their roof, but still no thin air, but thick sunbeams.
    Furthermore value is declared by the value consensus of the people. Ask artists that put some sticks together and sell it for a mil.
     
  19. redjebo

    redjebo Junior Member

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    Exactly. And this wasted electricity/computational resource brings nothing of value but the cryptocurrency itself (which is of all but no value compared to all other areas of economy cycles).

    And that is why modern or even classical art is on the very top of human needs pyramid, meaning it only comes after every other need is satisfied and there never was and isn't a global demand for it, nor will it ever acquire significant enough percentage of the global wealth to become a currency.
     
  20. playerb

    playerb Jr. VIP Jr. VIP

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    @redjebo

    don't want to sound like a broken record, but isn't fiat currency made out of thin air? it's some ink on paper or plastic.. "backed by the government"

    pls respond. i'm genuinely interested in the idea
     
    Last edited: Jun 16, 2018