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Crypto is tanking
Poast new message in this thread
Date: December 9th, 2017 10:18 PM Author: Adventurous Indecent Idiot Persian (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879134) |
Date: December 9th, 2017 10:34 PM Author: Bright step-uncle's house electric furnace (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879210) |
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Date: December 9th, 2017 10:35 PM Author: soul-stirring field LOMACOIN in tatters! (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879213) |
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Date: December 9th, 2017 10:35 PM Author: harsh pearly lay round eye shitcoins are up today (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879217) |
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Date: December 9th, 2017 10:37 PM Author: Adventurous Indecent Idiot Persian The top 62 coins are all down today (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879224) |
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Date: December 9th, 2017 10:40 PM Author: laughsome whorehouse in fiat. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879250) |
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Date: December 9th, 2017 10:41 PM Author: brilliant property codepig (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879257) |
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Date: December 9th, 2017 10:41 PM Author: navy locale toilet seat (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879260) |
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Date: December 9th, 2017 10:41 PM Author: hairraiser tripping volcanic crater address SELL! (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879253) |
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Date: December 9th, 2017 10:42 PM Author: Curious theatre sweet tailpipe goddamnit, bought a bunch yesterday. Just sold everything (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879266) |
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Date: December 9th, 2017 10:45 PM Author: Comical Dog Poop Hell flame? (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879290) |
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Date: December 9th, 2017 10:44 PM Author: mahogany gay wizard Buy high sell low (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879286) |
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Date: December 9th, 2017 10:56 PM Author: Talented sexy national stain BURN BABY BURN (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879375) |
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Date: December 9th, 2017 10:57 PM Author: Nubile stag film genital piercing this is a spa compared to what will happen once Chicago futures trading goes live (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879378) |
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Date: December 9th, 2017 10:59 PM Author: hairraiser tripping volcanic crater address What do you think the futures will show? Do you think overall they will be short? Does it matter if the crypto-freaks don't react and HODL? (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879394) |
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Date: December 9th, 2017 11:01 PM Author: Nubile stag film genital piercing big money players are going to short the fuck out of it. until now there were no real trustworthy markets to short on. lots of pent up demand.
some of the longs who take the other side of those futures bets will be hedging in the spot markets selling their BTC to push the price down.
rinse and repeat. |
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Date: December 9th, 2017 11:02 PM Author: Curious theatre sweet tailpipe sounds bullish for ETH (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879424) |
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Date: December 9th, 2017 11:01 PM Author: buff adulterous gas station help (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879407) |
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Date: December 9th, 2017 11:03 PM Author: sepia soggy casino dingle berry awesome. at this point its obvious btc is going to be 100,000 or more at some point within the next 10 years. i hope it crashes even more for me to load up (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879427) |
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Date: December 9th, 2017 11:09 PM Author: hairraiser tripping volcanic crater address I would benefit, but why is it "obvious?" Just because it's been going up? That's a logical fallacy, and it's not based on any real valuation metric, and I hear the same thing from 90%+ of crypto people.
In my opinion, the smarter people in finance have been on the side of calling a bubble. |
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Date: December 9th, 2017 11:10 PM Author: Curious theatre sweet tailpipe you mean like the "dot com bubble" that has since gone to the moon? (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879488) |
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Date: December 9th, 2017 11:12 PM Author: hairraiser tripping volcanic crater address Many, many companies were wiped out, just like 95% of the coins will be wiped out.
Still, comparison to the dot com bubble is just another fallacy. Let's evaluate crypto on its own terms. |
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Date: December 9th, 2017 11:16 PM Author: emerald cocky area Human psychology and bubbles are still worth considering. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879544) |
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Date: December 9th, 2017 11:14 PM Author: emerald cocky area Isn't NASDAQ still below the inflation adjusted 2000 peak? (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879524) |
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Date: December 9th, 2017 11:12 PM Author: very tactful ratface jewess This is such a reddit response (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879503) |
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Date: December 9th, 2017 11:13 PM Author: hairraiser tripping volcanic crater address Mine? I don't read reddit, but it's the same question any investment advisor would be asking. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879515) |
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Date: December 9th, 2017 11:40 PM Author: bearded beady-eyed dilemma (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879744) |
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Date: December 10th, 2017 12:01 AM Author: 180 mentally impaired station (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879884) |
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Date: December 9th, 2017 11:18 PM Author: laughsome whorehouse It has a huge community behind it and is on the verge of mainstream acceptance. There's also the self-fulfilling prophecy aspect of enough people just believing that it will eventually be worth $XXX. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879566) |
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Date: December 9th, 2017 11:22 PM Author: hairraiser tripping volcanic crater address Right, I guess if enough people come to believe that it will be worth $1M, and they buy and hold with that intent, then it could be worth $1M. But that's not "obvious." That's an argument that the value will be something because everyone believes it will be that. And there are only a few commodities in the world that are valued like that. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879588) |
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Date: December 9th, 2017 11:32 PM Author: emerald cocky area Bitcoin eventually has to become useful.
There eventually has to be a return on the speculated promise.
Bitcoin right now is shit in terms of technical capability. So how do you see bitcoin getting from here to there without another coin getting there first? |
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Date: December 9th, 2017 11:26 PM Author: sepia soggy casino dingle berry for a very simple reason:
crypto is going slowly main stream just like ETFs, bonds and bitcoin has tremendous first mover advantage. even if 1% of UMC bros allocate 10% of their investment capital to crypto you will see btc at 100,000. also world is going to be more volatile for the next few years due to seismic geopolitical events (mass migration and rise of far right as a reaction to weakening of national identity/borders, china challenging US etc) which will naturally drive further interest in crypto. since btc is constrained by design and supply cannot be increased the value must go up.
if anything i am being overly cautious with the 10 year horizon.
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Date: December 9th, 2017 11:27 PM Author: Nubile stag film genital piercing lmao.
costs $20 to even do a transaction on bitcoin.
and it can do 4 transactions a second.
WHAT A TECHNOLOGY! |
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Date: December 9th, 2017 11:30 PM Author: sepia soggy casino dingle berry i dont think this matters. if bitcoin price was driven by utility (lets be honest its only useful for underground narcotics now) it wont be worth anything. i think the new normal will be ~10K after the price correction takes place over the next few weeks. it will only move upwards from there with new support level being established every year or so (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879663) |
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Date: December 9th, 2017 11:28 PM Author: hairraiser tripping volcanic crater address You might be right, but the poster below rightly points out that its use case for transactions is DET at the moment. I can really only see any merit to it as a store of value (digital gold), and that's only if enough rich people, sovereign wealth funds, and hedge funds decide to treat it as such. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879652) |
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Date: December 9th, 2017 11:32 PM Author: sepia soggy casino dingle berry i replied above and agree with you its simply a store of value.
the only unknown factor that could kill BTC (and all other cryptos) would be coordinated political action by major economies (US, EU, China) to eliminate crypto by outlawing possession and trade of bitcoins etc. other than that i dont see anything stopping its price march |
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Date: December 9th, 2017 11:40 PM Author: emerald cocky area All other stores of value have significant functional uses. That's why they're valuable.
What's bitcoin's use?
Black market transactions?
Money laundering?
It needs to be much faster and cheaper to be commercially useful. |
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Date: December 9th, 2017 11:37 PM Author: motley lodge brethren They're improving how quickly it can move as the technology improves. It's going to get better. How weird did credit cards seem when they were first introduced? (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879723) |
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Date: December 9th, 2017 11:41 PM Author: hairraiser tripping volcanic crater address They actually have problems improving it. They have to get consensus or else they create forks. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879755) |
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Date: December 9th, 2017 11:35 PM Author: emerald cocky area First mover advantage is not that powerful over long time frames. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879715) |
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Date: December 9th, 2017 11:39 PM Author: sepia soggy casino dingle berry false because bitcoin price is not tied to utility. when utility is involved a superior product can destroy the first mover (FB vs Myspace for ex.) and first mover advantage doesn't guarantee long term dominance.
but bitcoin is like gold. we have had 100 other exotic mineral discovered and mined over the last few centuries which are far more useful than gold. but it doesn't matter to gold's value and role as an alternate inflationary hedge because of its first mover status. bitcoin is similar |
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Date: December 9th, 2017 11:46 PM Author: emerald cocky area Gold has significant commercial uses across many fields. It's a store of value because it's useful (as are several other metals).
Bitcoin is a lot more like fiat currency. But it's backed by faith in the blockchain.
And it's a lot easier to replace bitcoin than gold or the federal government |
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Date: December 9th, 2017 11:52 PM Author: sepia soggy casino dingle berry first mover advantage gives tremendous network effects. average crypto investor is not going to mine anything but going to buy the most liquid, popular crypto currency
so as long as crypto is legal bitcoin will dominate and that implies tremendous price growth. lets agree to disagree and move on for now. lets check back in 2023 when i am pretty sure we will both be poasting on XO to see who was right |
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Date: December 9th, 2017 11:53 PM Author: Curious theatre sweet tailpipe that's one thing we can all be sure of (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879831) |
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Date: December 10th, 2017 12:15 AM Author: Impertinent circlehead (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879961) |
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Date: December 9th, 2017 11:55 PM Author: emerald cocky area For 2023, put me down for bull on crypto, bear on bitcoin. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879841) |
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Date: December 10th, 2017 12:08 AM Author: Startling Bawdyhouse what are these exotic minerals you speak of? (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879921) |
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Date: December 10th, 2017 12:13 AM Author: sepia soggy casino dingle berry platinum for example. it has more utility than gold and its value is entirely driven by utility. but you dont see bank of china or bundesbank buy tonnes of platinum bars as part of their foreign exchange reserves. they buy gold
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Date: December 10th, 2017 12:14 AM Author: buff adulterous gas station (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879956) |
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Date: December 9th, 2017 11:08 PM Author: motley lodge brethren Courage, child (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879476) |
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Date: December 9th, 2017 11:11 PM Author: Comical Dog Poop Hell hodl (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879491) |
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Date: December 9th, 2017 11:57 PM Author: buff adulterous gas station Moving up again FUCK LIBS (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879855) |
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Date: December 9th, 2017 11:58 PM Author: Curious theatre sweet tailpipe UP 2% since 11, the bull is charging (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34879862) |
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Date: December 10th, 2017 7:00 AM Author: racy cruise ship Had dinner with a bunch of former senior us treasury officials on Friday. The thought amongst the group was once futures market really goes live massive price drop in Btc. Won't be as early as Monday but next two months. Will bring price discipline and they view a lot of the people in btc as dumb money on table. Once price. Starts to drop idiots who bought in at 9k will sell to lock in gains. True believers in it will hold but volitilty will be massive.Tons of hedge fund guys who weren't trading will take bonuses and trade futures markets where they know what they are doing. Should be interesting to watch. Wouldn't be surprised if other coins go up since no futures markets in those coins and money flowing out of btc goes to eth etc. (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34880908) |
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Date: December 12th, 2017 1:01 PM Author: motley lodge brethren "Very big point. Futures that don't have deliverables require a very, very deep market. Otherwise someone long the future can push prices higher at settlement time with impunity, by "locking" profits (never having to resell a deliverable)."
You can't really "short" BTC. |
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Date: December 12th, 2017 12:49 PM Author: Curious theatre sweet tailpipe (http://www.autoadmit.com/thread.php?thread_id=3823330&forum_id=2#34898788) |