Posted on 02/02/2018 11:41:09 AM PST by BenLurkin
This week’s slump brought the total market value of cryptocurrencies down to around $400 billion, half the high it reached in January, according to industry tracker Coinmarketcap.com. The market value of cryptocurrencies is calculated by multiplying the number of digital coins in existence by their price, although many question whether that is the right way to value them.
Bitcoin, the biggest and best-known cryptocurrency, fell as much as 15 percent on Friday to a two-month low of $7,625 on the Luxembourg-based Bitstamp exchange BTC=BSP. It clawed back some losses and was down around 4.1 percent at $8,623.50 in mid-morning New York trading.
(Excerpt) Read more at reuters.com ...
That’s a shame. I hope it doesn’t fall so low that the hackers give up and return to just creating havoc for fun.
It DID keep them occupied. :)
Imagine how much computing power and electricity resources are wasted “mining” this stuff. The amount of resources dedicated to this is staggering
A friend wanted to buy Bitcoin. I asked him how he would pay for it. He said cash.
Why would anyone buy something that can be gone with the swipe of a key stroke while the cash he’s using to buy it with, he worked many hours for.
Sounds like the standard “pump and dump”.
Weren’t those twins who were involved with Facebook “Bitcoin Billionaires?” What is their worth now??
The eschewing intensifies.
It’s not a currency. It’s a phantom, substituting for money. You can use it, and sometimes make money. But it will eventually go away.
My exact same logic for never have put a dollar into any gambling/lottery. I work too hard for my money to play with it like that.
bitcoin finally running out of greater fools ...
next up in the fake currency world: BaconBits ...
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.