Posted on 12/22/2017 10:14:33 AM PST by BenLurkin
Bitcoin prices plunged sharply to below $11,000 on Friday, shedding a third of its value in just 24 hours, according to data from CoinDesk.com. It later rebounded slightly to around $12,000 — but that’s still a stunning 25 percent less valuable than bitcoin was Thursday morning.
Prices had approached $20,000 as recently as Sunday. The turbulence comes on the back of a few days of bad news for bitcoin, which has still soared by more than 1,000 percent since the start of the year.
On Thursday, a bitcoin spinoff called bitcoin cash was suspended from one of the most popular exchanges after possible insider trading.
Meanwhile, the U.S.’s markets regulator halted trading in a red-hot bitcoin stock.
(Excerpt) Read more at losangeles.cbslocal.com ...
I'd never heard of the term, but looking at investopedia, it seems to be the same thing as a pump and dump. I don't think there is anything about Bitcoin itself that is supposed to prevent this type of trading activity. I imagine the only preventative is oversight of exchanges.
Yep, was just in my local (central CA, home of FR) Carl’s Jr. today for a quick burger and a drink...regular “Famous Star” w/o cheese $4.35!! And a large drink $3.03!! Fiat USD is riskier than cryptos!!
What I’ve never understood is why anyone would buy a large drink in a fast food restaurant when there are free refills.
“To Go” in my case.
.
Gold will retain its value when the last government outpost has fallen.
At that time Bitcoin will be a long forgotten brainfart.
.
“Stunning”? Really CBS?!? 5 other times in 2017 alone!
https://twitter.com/charliebilello/status/944200314823036928
Think of it as a “25% off Christmas Sale” on Bitcoin.
Ah, that makes more sense. I see people ordering large drinks while eating in all the time though, and it mystifies me.
At that point my Colt is more valuable than any gold coin.
Even better...ammo. In an “end of the world” situation ammo, TP, liquor would be good investments. In anything short of that (rampant inflation, government corruption, etc.) cryptocurrencies are at least the equal of gold & silver (much better in the “liquidity aspect”...instant transfer of value to other nations, etc.).
Ok so we have some very passionate and different opinions on this thread.
So just for kicks why don’t we make our predictions for crypto currency for this time next year. It will be fun. Anyone that wants to make your prediction for bitcoin or any crypto currency for this day next year. This is strictly for fun, no money or actual positions. On this day next year we can resurrect this thread and see who wins the internet.
Come on chickens put your money where your mouth is, except don’t use money that’s against the rules. This is just for bragging rights.
It’s still early.
If bitcoin is to be a functioning currency the valuations will not hold anywhere near $12,000.00 per bitcoin let alone the nearly $20,000.00 they peaked at shortly before this crash.
That’s my prediction based upon practical reality of currencies, not that this is an actual currency, it’s a reputedly unhackable means of transmitting currency.
But, if some actual value proposition were to arise supporting bitcoin as an actual currency then the functional issue with wildly outsized valuation vis-a-vis any other actual currency becomes a problem.
You have no idea what you are talking about.
You have no idea what you are talking about.
You have no idea what you are talking about.
You have no idea what you are talking about.
You have no idea what you are talking about.
You have no idea what you are talking about.
put your bit coin into ripple. they got banks
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