I got in at a time where this crash erased all of my gains. Not in the red though so I'm happy about that, I imagine there will be some sort of rebound now. What are you guys' thoughts of today's crash? is it permanent? or is it just the wild reality of owning crypto currencies right now?
Jan 18, 2018
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I'll likely hold. Lost so much today that cashing out now won't save me much. Might as well stay in and hope for upside/rebound.
I CALL THIS TRAPPING IN POKER. YOU CHECK HOPING THAT YOUR OPPONENT BETS. WHEN YOUR OPPONENT BETS, YOU CHECK RAISE; THUS TRAPPING YOUR OPPONENT, SINCE HE IS ALREADY IN FOR HIS BET. MIGHT AS WELL CONTINUE. AMRIGHT?
Yeah just put all your money in Bitconnect -- itll come back.
1B lost overnight and no one bats an eye.
You call that trapping in poker? Good, because you just defined trapping in poker.
It's not an analogy and doesn't relate to the markets or crypto. Nice thought though. I mean, I like poker and it would be hilarious to trap you.
PS - When you type in all caps like that, it makes me think of Steve Carrell in that Anchorman bit screaming "LOUD NOISES..." Ah, what a lark.
I’m HODLing XRB not to worried about this recent correction.
I AM RIGHT
hodl, weak hands don't make money
Shouldn't be in this game if you're not willing to lose it all. Don't play retail investor bro (buy at the peak and sell at the trough). I'm holding and if it all goes to zero so be it.
LOL I relate to this on a deep level after looking at day 2 of this crash
Carnage out there this morning. Looks like things might have turned the corner around 11 am though, at least one can hope.
Have to wonder how much of this is related to the CBOE Bitcoin futures expiring today. Doesn't necessarily explain the pervasiveness or the severity of the crash though, especially considering that nearly everything has gotten hammered.
Will see what happens once the expiring futures are no longer hanging over it's head.
Completely temporary. No major developments or changes to point otherwise. There are issues and concerns arising over the regulatory issues (specifically SK), but there are already numerous cryptos based on getting around these issues. I can explain further if people are interested but essentially selling now just shows FUD, and that you don't understand what is driving the markets
Let's get a WSO crypto discord or something like that going - here's an invite https://discord.gg/XS7PpN5
My opinion is that the market can easily go a lot lower or a lot higher right now, though it has most likely stabilized and continuing its upward climb
awesome. thanks man
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BTFD #yolo
aaaaaand we're back
my portfolio halved (I was still up $500) but now its gone back up around 30% in the past day, this crash rattled me but I didnt panic sell, wish I bought more now but onto to the next rally
can someone explain how people are caught 'insider trading' crypto? re: South Koreans
there was like over 200k petition to fire finance/justice minister for all the FUD and market manipulation. gov't had to respond at that point.
can't wait till all this speculative trash goes to 0
Same. I actually had a co-worker tell me that there is no reason why precious metals should be worth more than Bitcoin, despite the fact that they are tangible, have strong growing industrial/consumer demand, and have been a universally recognized store of wealth since Mesopotamia.
also the top investment choice of people living in bunkers
Precious metals are so 2015.
Most of my friends made between 3 - 150x on their cyrpto investments. A couple of the thick ones sit there with their arms crossed pouting, saying they can't wait until it goes to zero. Id probably be salty too if I missed a great opportunity. U mad OP?
Crypto dips every January. Look at the charts the past 4 years.
Driven by what? Seasonals are driven by a fundamental supply/demand shift. Hurricane season for crude oil, as an example. Crypto currencies are facing potential regulation, they’re 40% off the all time high and trending down.
One theory is money leaving the market to be spent on Chinese Lunar New Year, which is usually early February. This is a small market, most of which is in Asia, and something like a ton of people taking profits to spend on gifts and traveling can easily start the plunge.
I hope all the cryptos go to 0. I hate these stupid "Certified Bitcoin Professionals" that act like they're all smart and know how to invest.
lol People are claiming this title? Certified by what organization?
https://cryptoconsortium.org/certifications/CBP
Doesn't it look retarded?
They have Antonopolous and Buterin listed as members on their Board of Directors. That surprises me. This article from 2014 corroborates the organization, so I guess it is a "real" thing, though their list of content for the Professional level can be learned on youtube in an afternoon: https://cointelegraph.com/news/two-organizations-aim-to-certify-cryptoc…
I'm sure the sheepl will be like "wow, much cypto expert"
Did a little more digging. Andreas Antonopolous is in fact the Director. He's legit:
http://blog.cryptoconsortium.org/the-blockchain-training-conference-inv…
Don't worry guys, it will rebound and go only upwards from there.
/s
I think it was because of the expiration of future contracts. I could be wrong, but expect sharp volatility, either up or down depending on if it's a long or short, like this every time there is a future settlement. The next one is 1/26. Good buy-in opportunity ahead of this time.
No no no - YOU didn't get OUT before the downturn erased your gains. Take responsibility for your losses. (Upside: you can credibly claim responsibility for your gains)
BTC is a novelty and a fraud. Trade it to make a buck before it goes to zero but don't think for a second this is a long term "investment". Currency, by definition, is issued by a government that can enforce its usage, and most people would never accept BTC as payment for a material good.
Point in case: How do I buy a cup of coffee from a street vendor with BTC? I can't. No one cares.
I work at the intersection of finance and IT, and while blockchain is a useful accounting tool, I can see no use for so-called digital currencies except to part fools from their money.
Here's a chart, have fun:
Why are you so against BTC?
Sure you can't buy a cup of coffee with BTC but maybe it will be used for larger transactions, like a house?
There are other cryptos for P2P transactions.
Blockchain is accounting/settlements tool. You might as well be trading financial models for cash, because that's all this is. I'm somewhat amused at how so many bright young people, convinced of their own brilliance, have been snookered by this. If I were much older, I'd probably blame video games for convincing people that the "points" have any real world value lol
If you really think they have value, I have some rights to clear blue sky in Botswana I can sell you...but you have to get in while they're cheap :D
The argument for BTC is as a store of value; an argument I happen to agree with
BTC has even less use as a store of value as it does as a currency. By definition, something used as a store of value has value and price stability. BTC has neither.
I think WSO members should start our own coin called Dinero. It will be the first physical cryptocurrency that does not trade through virtual marketplaces. You must physically go to one of the exchanges and trade the physical paper that records your Dinero holdings. Why? Keeps traders on the exchange floor employed, removes hacking risk, and basically shows how useless Bitcoin and other coins are until WW3 breaks out.
andddd we're back. HODL for the February pump.
Bitcoin has been crashing every few months for a few years. This year seems to follow the same pattern - January was never a good month for crypto.
There are two responses to FOMO (fear of missing out): (A) start participating or (B) convince yourself that it's not worth it. A certain group of individuals that fall within category (B) feel that they cannot truly convince themselves until or unless they convince others. They begin to project their FOMO onto others, mostly through intense ridicule. There's really no other reason to get so emotional about something that you're not invested in, at all.
It’s just vindication. Imagine being told you were wrong by someone chasing bitcoin and then watching the price implode. Just another form of “I told you so.”
Every day, approaching closer to 0...
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