Scared about Bitcoin crashing? See this...

newjerseymax · #23 02-02-2018

I have a whole other theory about media... Its more conspiracy theory...

I believe BIG BIG whales control most media and play us for BIG BIG money....
They buy in.... Spread all this news about people getting rich on bitcoin. Small fish buy in.... Then media whales send out news about bubble and crash after they cash out.

Rinse and repeat... We are in process of going low again so BIG whales can buy in again lows....

empirestate · #24 02-02-2018

Quote:

Originally Posted by newjerseymax

I have a whole other theory about media... Its more conspiracy theory...

I believe BIG BIG whales control most media and play us for BIG BIG money....
They buy in.... Spread all this news about people getting rich on bitcoin. Small fish buy in.... Then media whales send out news about bubble and crash after they cash out.

Rinse and repeat... We are in process of going low again so BIG whales can buy in again lows....

It's called DUMB money...
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quest · #25 02-02-2018

good time to buy guys! :D

yotano211 · #26 02-02-2018

I liked how so many media units said that India was banning all types of coins when in reality thing that was said they their treasure guy wanted to regulate all coins in India.
Huge difference between banning and regulating.

H4ck · #27 02-03-2018

I have been pretty heavily involved in bitcoin the past year,

Honestly, the only way I can see cryptocurrency ever going to 5 trillion in market cap, is if it is widely adopted throughout every single country and that every single store and business accepts it in their daily activities.

In the future, is that possible? maybe......this is like the beginning of internet.....we are at dialup speeds with bitcoin.....their are a lot of problems and shortcomings that need to be ironed out.

Will bitcoin and cryptocurrency be around for another 5-10 years......of course......the price though i cannot speak for.....

I wouldn't be spending too much time looking at the PRICE, you have to look to the future....3, 5, 10, 20 years from now where will cryptocurrencies be and if its realistic......

I can probably detail about 100s of problems that I have against cryptocurrencies thats why I have a hard time being a believer of it in the super long term.....

H4ck · #28 02-03-2018

Apple - Market Cap - 824B
Amazon - Market Cap - 707B
Google - Market Cap - 773B
Gold - Market Cap - 7.8 Trillion

The common characteristics between these brands/commodities is that,

1. Every country accepts them and is considered 100% legal.
2. No country outright banned them
3. They continue to thrive in the world expanding to different sectors

Bitcoin and cryptocurrency as you can tell.........is the opposite of the three things I just described. That is why Bitcoin and cryptocurrency market cap is in free fall right now......

unkown5454 · #29 02-03-2018

you're right. how do i pay someone in apple, amazon and google

bigdaz · #30 02-03-2018

Quote:

Originally Posted by jarsky541

Apple - Market Cap - 824B
Amazon - Market Cap - 707B
Google - Market Cap - 773B
Gold - Market Cap - 7.8 Trillion

The common characteristics between these brands/commodities is that,

1. Every country accepts them and is considered 100% legal.
2. No country outright banned them
3. They continue to thrive in the world expanding to different sectors

Bitcoin and cryptocurrency as you can tell.........is the opposite of the three things I just described. That is why Bitcoin and cryptocurrency market cap is in free fall right now......

I suspect its more to do with certain traders holding huge amounts of the coin and everything being linked. They have been walking it up and down constantly and will continue to do so. Governments will want control over it though as it will become too valuable to ban.

phaz0rz · #31 02-03-2018

Quote:

Originally Posted by unkown5454

you're right. how do i pay someone in apple, amazon and google

Apple pay, Amazon checkout, Google Wallet

Play · #32 02-03-2018

Quote:

Originally Posted by phaz0rz

Apple pay, Amazon checkout, Google Wallet

Completely baffled.

Those are payment services.

The initial post was referring to purchasing stocks/shares in the company. You cannot pay someone in stocks, as most people would not be willing to accept it.

Bitcoin and Gold on the other hand are more liquid, so can be treated as moving money.

phaz0rz · #33 02-03-2018

Quote:

Originally Posted by Play

Those are payment services.

I was just answering unkowns question, but I don't see how you can say jarsky's original post was about stocks. It was a comparison of traditional billion dollar companies to crypto.

On a broader note though those 3 companies all offer products and services our society considers vital, which ensures their continued success. Crypto doesn't offer anything.

I don't see BTC being very "liquid" in the next ten years.

Play · #34 02-03-2018

Quote:

Originally Posted by phaz0rz

On a broader note though those 3 companies all offer products and services our society considers vital, which ensures their continued success. Crypto doesn't offer anything.

That is where I disagree.

A decentralised financial system is invaluable. Either you get it, or you don't.

H4ck · #35 02-03-2018

the problem with bitcoin is that it does not really completely replace gold.

winklevoss claims that bitcoin is deflationary because only 21 million will ever exist.

Charlie Munger said it right when they said they cannot create more bitcoin don't believe them. They can make more.

They have made more...look at all the altcoins......

its not nearly as valuable as Gold where you have to physically go into mines and dig it out.....

H4ck · #36 02-03-2018

What I do like about bitcoin is the laundering aspect of it.

Government can't really stop bitcoin p2p movement. Hell they can't even stop piracy........piratebay is still up.....

Instead of trying to figure out how to move millions in physical paper money....you can just move it through a simple email address stored with private keys to your millions sitting in cryptocurrencies...

not gold 2.0.....money laundering 2.0.....

cryptocurrencies will definitely be around for atleast another decade........everybody needs a place to move their dirty money especially since US feds are cracking down on people hiding their assets in swiss banks now.

quest · #37 02-03-2018

Quote:

Originally Posted by jarsky541

the problem with bitcoin is that it does not really completely replace gold.

winklevoss claims that bitcoin is deflationary because only 21 million will ever exist.

Charlie Munger said it right when they said they cannot create more bitcoin don't believe them. They can make more.

They have made more...look at all the altcoins......

its not nearly as valuable as Gold where you have to physically go into mines and dig it out.....

Gold value based on demand in many different markets.. fashion, technology, medicine.. etc. Value based on real usage, not expectations. Stable supply and stable demand.

Comparing it to BTC is dumb thing.. but, in fact, most of people are dumb enough to believe it.

And when you add few words about blockchain technology, this mind-**** works even better.. most on those idiots believe that BTC = blockchain and its a future.. but real fact is that BTC is just dumb program running on perspective "OS".

slokor · #38 02-03-2018

Quote:

Originally Posted by quest

Gold value based on demand in many different markets.. fashion, technology, medicine.. etc. Value based on real usage, not expectations. Stable supply and stable demand.

Comparing it to BTC is dumb thing.. but, in fact, most of people are dumb enough to believe it.

And when you add few words about blockchain technology, this mind-**** works even better.. most on those idiots believe that BTC = blockchain and its a future.. but real fact is that BTC is just dumb program running on perspective "OS".

Thank you for more of your nonsense.
You obviously know NOTHING about the topic so why dont you just stop posting on here friend? Youre just proving how ignorant you are of the whole topic.

H4ck · #39 02-05-2018

Quote:

Originally Posted by newjerseymax

I have a whole other theory about media... Its more conspiracy theory...

I believe BIG BIG whales control most media and play us for BIG BIG money....
They buy in.... Spread all this news about people getting rich on bitcoin. Small fish buy in.... Then media whales send out news about bubble and crash after they cash out.

Rinse and repeat... We are in process of going low again so BIG whales can buy in again lows....

I think the winklevoss twins and tim draper is somewhat full of BS. They go out into the media and say they didn't sell a single bitcoin yet and how they dont plan on selling it because they believe its still 20 times undervalued.......

I bet they have been cashing out quite a bit they just wont tell anybody the entire truth they dont want word to spread for the other 99% of people to start cashing out right away....

They probably pay people to go on reddit and various forums to spread for everyone to "HODL" while they cash out while the price is still red hot.......leaving the little guys with the bag.

The beauty of this entire game, NO SEC OR REAL FEDERAL REGULATION on cryptocurrencies.......all perfectly legal........straight up pump and dump scams, price manipulation and insider trading........

If you were to do this type of stuff on the stock market you would go straight to jail in a heartbeat.

yotano211 · #40 02-05-2018

Quote:

Originally Posted by jarsky541

I think the winklevoss twins and tim draper is somewhat full of BS. They go out into the media and say they didn't sell a single bitcoin yet and how they dont plan on selling it because they believe its still 20 times undervalued.......

I bet they have been cashing out quite a bit they just wont tell anybody the entire truth they dont want word to spread for the other 99% of people to start cashing out right away....

They probably pay people to go on reddit and various forums to spread for everyone to "HODL" while they cash out while the price is still red hot.......leaving the little guys with the bag.

The beauty of this entire game, NO SEC OR REAL FEDERAL REGULATION on cryptocurrencies.......all perfectly legal........straight up pump and dump scams, price manipulation and insider trading........

If you were to do this type of stuff on the stock market you would go straight to jail in a heartbeat.

I guess you never worked on wall street have you. I worked there for 3 years total, bad timing, insider trading is much more common that anyone figures.

H4ck · #41 02-05-2018

I never have worked on wall street. I will say this much though.....federal regulators monitor suspicious behaviors on the stock market. Whereas with cryptocurrencies their is no real monitoring going on.

I have seen many headlines of notable figures going to jail soon enough after their dishonest act.

bitcoin cash being released on coinbase was being spread from the inside price got pumped to nearly $4,500 and coinbase CEO found out and only fired those employees.....none of them faced real hard federal charges or jail time....

Many of the whales knew ahead of time that they can manipulate a lot of people and get away with it and government cannot do anything to really stop them because their isn't any real securities regulation surrounding cryptocurrencies.....its slowly progressing....

I got to give the whales a hand.....smart.....very smart.....

unkown5454 · #42 02-05-2018

ha. my friend...time to wake up. you know how i/c/e is said to only be able to catch around 4% of the f/a/k/e product coming into the country? the s/e/c is basically the same situation with the stock market.

you one of those people still fantasizing about how we won the war on d/r/u/g/s

phaz0rz · #43 02-05-2018

Quote:

Originally Posted by Play

That is where I disagree.

A decentralised financial system is invaluable. Either you get it, or you don't.

Is it really decentralized when the elites of the world buy up 95% of all crytocurrency so they can control and manipulate prices at will? To me it seems like another incarnation of the current system, with maybe more transparency.

Crypto becomes more "centralized" everytime it becomes more regulated. No?

quest · #44 02-05-2018

no, market cap is just too small, so big players can make huge impact for most coins.. easy to takes money from dumb mass..