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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
Old 02-01-2018
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Exclamation Scared about Bitcoin crashing? See this...

So Bitcoin value is dropping like crazy, and most weak hands are letting go of their bitcoin because they see themselves losing money.

But if you look at the value/chart of bitcoin properly (as per the graph below), you'll actually see it's a healthy decline, bringing the value of bitcoin back to a realistic figure.

I feel like the spike towards the end of 2017 was all caused by too much media hype, and bitcoin wasn't ready for it. But as uncertainty irons out over the use cases of bitcoin, it should gain traction again.

Maybe it won't increase in value overnight, or this week, or this month, but gradually we should see it hitting new highs again.

I just cannot see us ending 2018 without seeing Bitcoin hit $30k, and that's not unrealistic seeing as it ended 2017 at around $20k.

To conclude, fear not.




The graph shows what Bitcoin value would be right now, without the spike it had, and the value seems to be roughly on par. But most importantly, its going up, that's what matters most!
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

G20 meeting will be on march and they will discuss about cryptos... most likely they will deal on serious restrictions or even worse. so guys, be realistic, there is no future for BTC
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by quest View Post
G20 meeting will be on march and they will discuss about cryptos... most likely they will deal on serious restrictions or even worse. so guys, be realistic, there is no future for BTC
I can't disagree that there is a minute possibility of bitcoin being banned in some dominant countries. But there are many countries that are already permitting its use.

*But* lets assume you're right, Bitcoin is not the only crypto. There's others, with other use cases. I can't see Ethereum for example being restricted in anyway, simply because of its use case being so different to BTC for example.

So to conclude, I don't think Bitcoin will disappear post G20. Perhaps restricted in some form, but not going anywhere.
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

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Originally Posted by quest View Post
G20 meeting will be on march and they will discuss about cryptos... most likely they will deal on serious restrictions or even worse. so guys, be realistic, there is no future for BTC
Wrong.
Being restricted and being regulated are two very different situations.
I dont have any issue with regulating Bitcoin and other cryptos and paying your taxes if you were to make a profit on them - same as any other investment/asset/income you own.
As long as the governments get their cut and have general knowledge of whats going on they wont have a reason to 'ban' it - even if they could (which if China is any example - they cannot).
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

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Originally Posted by slokor View Post
Wrong.
Being restricted and being regulated are two very different situations.
I dont have any issue with regulating Bitcoin and other cryptos and paying your taxes if you were to make a profit on them - same as any other investment/asset/income you own.
As long as the governments get their cut and have general knowledge of whats going on they wont have a reason to 'ban' it - even if they could (which if China is any example - they cannot).
The issue is that cryto is good stuff for money laundering, stealing, hiding transactions and other illegal activity - thats "core value" that cryto gives to market.. so I'm sure government's wont tolerate it ant they will require for transparency.. and "core value" will be lost. game over
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by quest View Post
The issue is that cryto is good stuff for money laundering, stealing, hiding transactions and other illegal activity - thats "core value" that cryto gives to market.. so I'm sure government's wont tolerate it ant they will require for transparency.. and "core value" will be lost. game over
Which is why it needs to be REGULATED. And everything you just mentioned can be easily accomplished already and is already being done using fiat currency.
So no - not game over. Not by a long shot. But nice that you keep on talking in such absolute terms without knowing what it is youre even preaching.
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by quest View Post
The issue is that cryto is good stuff for money laundering, stealing, hiding transactions and other illegal activity - thats "core value" that cryto gives to market.. so I'm sure government's wont tolerate it ant they will require for transparency.. and "core value" will be lost. game over
Just an FYI, the legal use of bitcoin has surpassed the illegal use of bitcoin, and legal use is ascending.

Given that fact, in time it will be just like any other currency. Some use it for bad, some use it for good.

Same can be said for , $ etc.
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

^^What are on of the legal uses for BTC again?
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

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Originally Posted by phaz0rz View Post
^^What are on of the legal uses for BTC again?
For example when the currency in Zimbabwe lost its worth, and people were turning to bitcoins.

Any financial collapse, I see people turning to Gold and Bitcoin.

The recession that's looming, I can see people turning to Bitcoin (as well as Gold).

On a side note - You bash bitcoin a lot, instead of holding it like a hypocrite to make returns, why don't you short it. Put your money where your mouth is.
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

Support level is 7-8k, when it goes to 5k it's way way oversold, sell your houses to buy BTC at this level....
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

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Originally Posted by empirestate View Post
Support level is 7-8k, when it goes to 5k it's way way oversold, sell your houses to buy BTC at this level....
The way youre selling yours?
Tell us oh wise one - how many Bitcoin will you be buying at that level?
Are you ever going to stop it with these useless posts...?
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Old 02-01-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by slokor View Post
The way youre selling yours?
Tell us oh wise one - how many Bitcoin will you be buying at that level?
Are you ever going to stop it with these useless posts...?
Hah slokor - always on point.

Will be interesting if it goes does to 5k
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by rsot View Post
Hah slokor - always on point.

Will be interesting if it goes does to 5k
You will manage with your one bitcoin.

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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by Play View Post
For example when the currency in Zimbabwe lost its worth, and people were turning to bitcoins.



On a side note - You bash bitcoin a lot, instead of holding it like a hypocrite to make returns, why don't you short it. Put your money where your mouth is.
The empire leader speaks from his backside not mouth.

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Default Re: Scared about Bitcoin crashing? See this...

BTC at 8k, mass exit is going on....
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

we all know you bought higher than mount everest
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by Play View Post

On a side note - You bash bitcoin a lot, instead of holding it like a hypocrite to make returns, why don't you short it. Put your money where your mouth is.
I trash talk it because I've come to realize over the past couple months that it's good for nothing and is being used mainly to scam people via "ICO's". I am "holding like a hypocrite" 10BTC purchased around $3k but I've been thinking about selling those off. According to some forum members BTC was supposed to have passed $50k by now.

No hard feelings. Just spicing up the thread lol.
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

No matter what way the BTC price goes there are numerous folk on here that always seem to know that it was going to happen.

I worked in the financial services industry many years ago and a term that was banded about then would seem relevant here:-

"Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up".
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by Ebayorbust View Post
No matter what way the BTC price goes there are numerous folk on here that always seem to know that it was going to happen.

I worked in the financial services industry many years ago and a term that was banded about then would seem relevant here:-

"Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up".
In other words, Speculation... You make it more harder than it is...
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by phaz0rz View Post
I trash talk it because I've come to realize over the past couple months that it's good for nothing and is being used mainly to scam people via "ICO's". I am "holding like a hypocrite" 10BTC purchased around $3k but I've been thinking about selling those off. According to some forum members BTC was supposed to have passed $50k by now.

No hard feelings. Just spicing up the thread lol.
1. I've always steered clear of ICOs, their too scam orientated. Most media reports bashing Bitcoin subtly refer to ICOs. But the average person doesn't know the difference between BTC and an ICO. So I'd advise anyone to stay away from them.

2. Don't listen to anyone who gives you a price prediction. I've predicted prices before, some were correct, some weren't, in the end I realised nobody actually knows the price for certain - only time tells.
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

The correction/crash was a self fulfilled prophecy...

Problems I could surmise:

1. FUD
2. Exchanges not adding new meat (long waits)
3. Insider trading
4. ASIA banning currency (At least threat of it)
5. Alt-coins - Paradox of Choice
6. Bitconncet
7. Hacking, theft
8. New US regulations for taxation
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Old 02-02-2018
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Default Re: Scared about Bitcoin crashing? See this...

Quote:
Originally Posted by newjerseymax View Post
The correction/crash was a self fulfilled prophecy...

Problems I could surmise:

1. FUD
2. Exchanges not adding new meat (long waits)
3. Insider trading
4. ASIA banning currency (At least threat of it)
5. Alt-coins - Paradox of Choice
6. Bitconncet
7. Hacking, theft
8. New US regulations for taxation
100% on the money!

I should also add...

9. Biased media coverage.

I think when the aforementioned points are rectified, it will push prices up again. If that is the case, then this dip would be the time to buy in.
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