Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Over $60 billion wiped off value of cryptocurrencies in 24 hours as bitcoin slide continues
CNBC ^ | 03-15-2018 | Arjun Kharpal

Posted on 03/15/2018 7:53:45 AM PDT by NRx

click here to read article


Navigation: use the links below to view more comments.
first previous 1-2021-4041-55 next last
To: robroys woman

If future corporate earnings were expected to fall by 80% or
interest rates unexpectedly increased just such a fall would be justified. But if the price of stocks of some companies fell by 80%, they would have enough cash on hand to buy up all there shares.


21 posted on 03/15/2018 8:24:30 AM PDT by Maine Mariner
[ Post Reply | Private Reply | To 8 | View Replies]

To: Elsie

When Bitcoin goes to zero, will investors jump off of virtual or real ledges?


22 posted on 03/15/2018 8:27:29 AM PDT by FirstFlaBn
[ Post Reply | Private Reply | To 9 | View Replies]

To: Maine Mariner

...they would have enough cash on hand to buy up all there shares.


That is because, at the end of the day, there is actually something there, physically, behind those shares. ;)


23 posted on 03/15/2018 8:31:48 AM PDT by robroys woman (So you're not confused, I'm male.)
[ Post Reply | Private Reply | To 21 | View Replies]

To: NRx

I don’t understand what this cryptocurrency business is all about. How does this affect me???


24 posted on 03/15/2018 8:32:42 AM PDT by elpadre (AfganistaMr Obama said theoal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NRx

A month or two ago, a friend’s financial advisor, who manages her life savings, suggested she invest in bitcoin. When she stated she put 50K into the scheme, I simply freaked out. (Bitcoin was trading around 15K at the time.) She mentioned that she had three days to back out of the deal. I strongly advised that she take advantage of that grace period and get her money back. She did. She also thanks me (and buys me a drink) every time she sees me. ;)


25 posted on 03/15/2018 8:34:01 AM PDT by Quilla
[ Post Reply | Private Reply | To 1 | View Replies]

To: NRx

glad to see it
Complete scam from beginning


26 posted on 03/15/2018 8:34:05 AM PDT by Truthoverpower (The guvmint you get is the Trump winning express !)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NRx

Bitcoin will be between 20-30k by the end of 2018.


27 posted on 03/15/2018 8:36:48 AM PDT by precisionshootist
[ Post Reply | Private Reply | To 1 | View Replies]

To: robroys woman

And that is the point. My late father and I did a little investing a day or so after the October 1987 crash. There were plenty of companies whose cash in bank was greater than the value of the companies on Tuesday morning. And they had other assets - liabilities in the billions.

There were real assets behind those companies.
And that is why some .com companies zoom up in value and then zoom down to zero. There is only potential income and no assets.


28 posted on 03/15/2018 8:37:34 AM PDT by Maine Mariner
[ Post Reply | Private Reply | To 23 | View Replies]

To: robroys woman

The bad news is what is behind the money you have in the bank is the same thing that is behind bitcoin. The intrinsic value of bitcoin and the US dollar are the same. More bad news is when the government wants to confiscate your wealth all they have to do is print more money, and they do this all the time.


29 posted on 03/15/2018 8:44:45 AM PDT by precisionshootist
[ Post Reply | Private Reply | To 23 | View Replies]

To: NRx
"These bear signals have subsequently spooked many new crypto investors who are now looking to cut their loses."

Man, no one gets it less than Arjun...

How many shorts you think were made out of Google the night before with advance knowledge of the ad ban? How much of it leaked to the Korean and Chinese markets? And...it's not against the law. Bitcoin is unregulated. No Sarbanes-Oxley, no nothing.

30 posted on 03/15/2018 8:55:07 AM PDT by StAnDeliver ( Parkland is the most massive failure in law enforcement since 9/11)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Elsie
"Not to worry, as My tulips appear to be coming up soon."

Let the bidding start at 5000 guilders...

31 posted on 03/15/2018 8:56:21 AM PDT by StAnDeliver ( Parkland is the most massive failure in law enforcement since 9/11)
[ Post Reply | Private Reply | To 9 | View Replies]

To: precisionshootist

The bad news is what is behind the money you have in the bank is the same thing that is behind bitcoin. The intrinsic value of bitcoin and the US dollar are the same. More bad news is when the government wants to confiscate your wealth all they have to do is print more money, and they do this all the time.


I agree to a point, but there really is a big difference: The money I have is backed by a government. And that matters. Like I used to say to my friends in high school back in 1971: If the day comes where your US savings bonds are worthless, that will be the least of your problems.

With bitcoin, it can fail while the rest of the world hums along without a blip. If the US currency collapses, well, the political and cultural context within which it happens may actually be the real story.

Think Weimer Germany and Venezuela.


32 posted on 03/15/2018 9:07:53 AM PDT by robroys woman (So you're not confused, I'm male.)
[ Post Reply | Private Reply | To 29 | View Replies]

Where to BEGIN?

There’s a sucker born every nano-second?
BTW - it isn’t just bitcoin that is overpriced. Even Amazon (which apparently makes money, after many years of losses) is ridiculously priced based on a wide range of historical measures.

I sort of wish I knew more about how to prudently structure trades and options, etc. to hedge against the stuff where people say (later), “Oh, it was clear to any fool that so-and-so was way overpriced.”


33 posted on 03/15/2018 9:09:57 AM PDT by Honest Nigerian
[ Post Reply | Private Reply | To 1 | View Replies]

To: Elsie
Those that understand binary numbers and those who do not.

You means us what buy nary a nummber of them 'air bits of coinses?

34 posted on 03/15/2018 9:29:44 AM PDT by Fightin Whitey
[ Post Reply | Private Reply | To 18 | View Replies]

To: NRx
It is no different than saying you own land on Mercury and believe it’s worth $100. I will sell it to you at cost and you can freely resell it to others.

Of course, no one alive will ever see or do anything with this effectively intangible “real” thing, so it is all a mental exercise that is made practical only when exchanging for tangible currency or items.

This is what cryptocurrency effectively does, too.

35 posted on 03/15/2018 9:31:32 AM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jjw
>saving link yup this thread for future laughs

You don't gotta, those here, whining about crypto, where doing so even back when it was below $500. lol

This is one of those threads where the idiot factor is high and where those who bemoan the concept of crypto having no value, don't or won't stop to consider what it actually costs to increase the quantity of fiat currency (nothing) vs. increasing the quantity of a cryto (about $3k for BTC currently) or mine precious metal.

36 posted on 03/15/2018 10:19:37 AM PDT by amorphous
[ Post Reply | Private Reply | To 20 | View Replies]

To: NRx
I have never seen the attraction of investing in something that... umm... doesn't really exist. And that further this make believe product can apparently be stolen by some high school geek with a laptop sitting in study hall.

People have to be some kind of stupid to invest on an ephemeral idea, and expect what amounts to a weird pyramid scheme to survive.

Totally reminds me of the G-doofus and his global-warming related "energy credits" scam.
How did that work out?
Anybody know?

37 posted on 03/15/2018 10:31:02 AM PDT by publius911 (Am I pissed? You have NO idea...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NRx

I always thought it was amusing that a fiat currency was launched to oust other fiat currencies. I was shocked when they surpassed long held currencies of precious metals. Value is indeed in the eye of the beholder.


38 posted on 03/15/2018 10:32:18 AM PDT by Robert DeLong
[ Post Reply | Private Reply | To 1 | View Replies]

To: elpadre

“I don’t understand what this cryptocurrency business is all about. How does this affect me???”

don’t worry about it. it’s not something you HAVE to know about, and whether you do or don’t, it won’t affect you.


39 posted on 03/15/2018 10:34:27 AM PDT by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
[ Post Reply | Private Reply | To 24 | View Replies]

To: precisionshootist

“Bitcoin will be between 20-30k by the end of 2018.”

that’s certainly possible. equally likely though, it could be $2,000 or less ...


40 posted on 03/15/2018 10:35:35 AM PDT by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
[ Post Reply | Private Reply | To 27 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-55 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson