And can we please stop misusing the word "plunge"? Let's strive to use adjectives consistently across all assets classes. If something is down modestly, you say it's "down X% for the day", or it "fell X%", or that it "retreated to Y from its all time high of Z".
Plunge just does not begin to describe what's going on. A plunge is indicative of panic selling or a companies position dramatically deteriorating due to bad news. This is a modest bit of selling from a rapidly achieved high.
All I see now is that Bitcoin is 50 fucking k. Fifty fucking thousand dollars for a BTC. That's like a luxury car. Think about it. It's not "plunging". Fucking please.
And each half of that drop came in a matter of hours that rendered upside-down the previous weeks' long entry points. Anybody entering after the first week of March is in at a loss,
Diamonds are literally forever. It’s the one of the most overly priced rocks we have. Once we found the caves with the unlimited supply the price didnt drop and just skyrocketed. We also have the ability to make the shit which is almost identical in composition to the natural. Never understood the allure! Give me a beautiful unique stone that prob no one has rather then a Diamond that’s so overpriced it’s disgusting that everyone has. That’s much more sentimental and thoughtful in my opinion.
Majority of this was due to fucktard rich traders on Binance that uses margin account to tip smaller cryptos and leaves the balance over so binance terminates the account and liquidates the holdings, almost every coin went down that night, was watching them, also coinbase bots couldn't keep up regulating the price, for around 20 mins it was floating up and down by around 1.5k -2k and over by moments, the crash as well was a good opportunity for some sharks, if you are able to keep up trading at that speed or have a bot well configured, in a bunch of minutes you could have made an exponential growth with a good investment
The reality is that they’ll get nothing for their money.
When greed and insanity intersect, nothing good’s gonna come out of it (although the “Bitcoin billionaires” who have already siphoned a huge amount of value out of the system, to spend it on houses, hookers, Ferraris and blow might say things are going pretty swimmingly for them).
Stop posting every time crypto takes a dump. It has no value. It has no anchor in real life products. When you exchange $1000 worth of bitcoin, it doesn't matter if it's 1$ or 1 million per BTC because the exchange is based in USD. The price is arbitrary and every person who buys in expecting to sell higher makes it more volatile
Buy all the dips. Buy all the metals. Fiat is dead and has been for awhile, they've just managed to inflate and manipulate numbers long enough to keep the illusion that everything is fine. We all know its not.
How, and who, distinguishes a dirty coin from a clean one? Assuming we're not talking about counterfeiting, is cleanliness of a coin determined by who owns it?
If a coin could be declared "dirty" and be forfeit solely on the basis of that, then the hypothetical triumvirate in charge of such declarations becomes a de-facto ruling council with power over the blockchain.
You can track coins, but not prevent their spend. You can prevent the coins being converted back into fiat on government regulated trading platforms, but nothing prevents their use in the digital world. Only specific entities that are government controlled could choose not to give you the services you paid for if you used one of these coins. But there are always other people outside the reach of the Fed today that will accept your coin.
That's not the point. Governments can PROSECUTE YOU FOR THE CRIMES THEY MAKE UP, and traceable money is therefore their biggest wet-dream since the invention of the database.
Nobody, and I mean nobody, is arguing that electric-tulips can't have value as currency.
If you are worried about being prosecuted, or losing your license, or any other regulatory infraction, then you are government controlled by definition. There are people in other countries not affected by that. However, nobody can stop anyone SPENDING the coin. A government can only prevent you from delivering services after receiving it.
With Bitcoin's PoW (Proof Of Work) algorithm, any group that controls 51% of the mining hashrate essentially can determine who is allowed to spend their coins. So they would be your triumvirate. No group that we are aware of to date has been able to achieve this, and if they did, and demonstrably thwarted an attempted spend of a coin, it would immediately destroy the value of the currency plunging the entire community into crisis.
This is one of the dangers of mining hashrate centralization though, and why so many altcoins have been created trying to overcome this inherent problem. Still, after more than a decade,Bitcoin's PoW algorithm is the best of a bunch of bad choices for genuine decentralized platforms. Nobody has yet come up with anything which is not ultimately subject to centralized control in some form by a determined group so nothing ultimately fixes this problem. That said, given the number of SHA256 miners out there, it is incredibly difficult and resource intensive to pull off a 51% attack against the network. You would need the electrical generating capacity of several countries to do it.
Bitcoin is definitely not green. But that waste is the only way to keep it safe.
Shame on you for linking to that site.
And can we please stop misusing the word "plunge"? Let's strive to use adjectives consistently across all assets classes. If something is down modestly, you say it's "down X% for the day", or it "fell X%", or that it "retreated to Y from its all time high of Z".
Plunge just does not begin to describe what's going on. A plunge is indicative of panic selling or a companies position dramatically deteriorating due to bad news. This is a modest bit of selling from a rapidly achieved high.
All I see now is that Bitcoin is 50 fucking k. Fifty fucking thousand dollars for a BTC. That's like a luxury car. Think about it. It's not "plunging". Fucking please.
Bitcoin was about 64k on April 14th. Now, less than 10 days later, it is just below 50k.
Whether you call it a plunge or not, that's a 22% drop.
And each half of that drop came in a matter of hours that rendered upside-down the previous weeks' long entry points. Anybody entering after the first week of March is in at a loss,
Who is involved?
I'm not in any crypto. It all seems like a scam to me.
I have a feeling that there's a LOT more gold out there than is generally assumed.
See also: diamonds.
Diamonds are literally forever. It’s the one of the most overly priced rocks we have. Once we found the caves with the unlimited supply the price didnt drop and just skyrocketed. We also have the ability to make the shit which is almost identical in composition to the natural. Never understood the allure! Give me a beautiful unique stone that prob no one has rather then a Diamond that’s so overpriced it’s disgusting that everyone has. That’s much more sentimental and thoughtful in my opinion.
And the diamond-trade is controlled by....
<muffled sounds><desperate struggling><crashing furniture>
Majority of this was due to fucktard rich traders on Binance that uses margin account to tip smaller cryptos and leaves the balance over so binance terminates the account and liquidates the holdings, almost every coin went down that night, was watching them, also coinbase bots couldn't keep up regulating the price, for around 20 mins it was floating up and down by around 1.5k -2k and over by moments, the crash as well was a good opportunity for some sharks, if you are able to keep up trading at that speed or have a bot well configured, in a bunch of minutes you could have made an exponential growth with a good investment
Bitcoin is for suckers.
The lure was money for nothing.
The reality is that they’ll get nothing for their money.
When greed and insanity intersect, nothing good’s gonna come out of it (although the “Bitcoin billionaires” who have already siphoned a huge amount of value out of the system, to spend it on houses, hookers, Ferraris and blow might say things are going pretty swimmingly for them).
The little guy never gets the better end of the deal when it comes to gambling, house always wins.
I've heard a rumor that it's because GME is about to squeeze
That's a lot of 1's and 0's
Truth
Over $100B of that was a loss from the CCP since they own over half of all btc.
Stop posting every time crypto takes a dump. It has no value. It has no anchor in real life products. When you exchange $1000 worth of bitcoin, it doesn't matter if it's 1$ or 1 million per BTC because the exchange is based in USD. The price is arbitrary and every person who buys in expecting to sell higher makes it more volatile
Buy all the dips. Buy all the metals. Fiat is dead and has been for awhile, they've just managed to inflate and manipulate numbers long enough to keep the illusion that everything is fine. We all know its not.
Fiat is never, ever dead so long as governments exists that can mandate its usage for payment of taxes, licenses and fines.
Remember how the dollar has been jacked maybe 35-40% over the last few years? So what's the multiple on everything else now? A lot worse.
Do you know what happened?
How, and who, distinguishes a dirty coin from a clean one? Assuming we're not talking about counterfeiting, is cleanliness of a coin determined by who owns it?
If a coin could be declared "dirty" and be forfeit solely on the basis of that, then the hypothetical triumvirate in charge of such declarations becomes a de-facto ruling council with power over the blockchain.
You can track coins, but not prevent their spend. You can prevent the coins being converted back into fiat on government regulated trading platforms, but nothing prevents their use in the digital world. Only specific entities that are government controlled could choose not to give you the services you paid for if you used one of these coins. But there are always other people outside the reach of the Fed today that will accept your coin.
That's not the point. Governments can PROSECUTE YOU FOR THE CRIMES THEY MAKE UP, and traceable money is therefore their biggest wet-dream since the invention of the database.
Nobody, and I mean nobody, is arguing that electric-tulips can't have value as currency.
If you are worried about being prosecuted, or losing your license, or any other regulatory infraction, then you are government controlled by definition. There are people in other countries not affected by that. However, nobody can stop anyone SPENDING the coin. A government can only prevent you from delivering services after receiving it.
"If you are worried about...."
--I want to live on your resort island far from the long arm of the thieving madness.
With Bitcoin's PoW (Proof Of Work) algorithm, any group that controls 51% of the mining hashrate essentially can determine who is allowed to spend their coins. So they would be your triumvirate. No group that we are aware of to date has been able to achieve this, and if they did, and demonstrably thwarted an attempted spend of a coin, it would immediately destroy the value of the currency plunging the entire community into crisis.
This is one of the dangers of mining hashrate centralization though, and why so many altcoins have been created trying to overcome this inherent problem. Still, after more than a decade,Bitcoin's PoW algorithm is the best of a bunch of bad choices for genuine decentralized platforms. Nobody has yet come up with anything which is not ultimately subject to centralized control in some form by a determined group so nothing ultimately fixes this problem. That said, given the number of SHA256 miners out there, it is incredibly difficult and resource intensive to pull off a 51% attack against the network. You would need the electrical generating capacity of several countries to do it.
Bitcoin is definitely not green. But that waste is the only way to keep it safe.