Bitcoin - Part 2

[Roger Ramjets]

the blow off continues

2-Month Low: Bitcoin Price Drops Below $9K

The fall below $9,000 marks the lowest bitcoin has fallen since late November 2017, market data shows, when it first reached that milestone. As of press time, the price of bitcoin was trading at roughly $8,954.13, representing a decline of roughly 11%.

 

[Roger Ramjets]

A Forking Mess

Bitcoin to Get Severely Forked in 2018

Bitcoin Cash is, of course, the most well known Bitcoin fork out there, sitting comfortably in the top five coins in terms of market cap. However, in 2017, there were 19 registered Bitcoin forks. Still, that pales in comparison to the 50 that are expected this year, according to Lex Sokolin, global director of fintech strategy at Autonomous Research...

“Unfortunately, most fork-based projects we see today are more of a sheer money grab. Looking back a few years from now we might realize that they were just mutations fostered by investors blinded by numerical price increases rather than honest attempts to contribute to the Blockchain ecosystem.”

 

[Eddie Dane]

Bitcoin to Get Severely Forked in 2018

Somebody is getting severely forked, that's for sure

 

[PartSkeptic]

2-Month Low: Bitcoin Price Drops Below $9K

Nice graph.

But it does have a vertical axis of valuation. In the case of cryptos it should be price.

It shows a straight line mean. In the case of bitcoin the valuation is zero so the return to the mean will be a return to zero.

 

[Samson]

I agree 100%. And the price could drop a lot further.

It has happened several times before where after the price reached an unprecedented peak, it fell by as much as 90% over the succeeding months before a new wave of interest started the price cycle again.

And what sort of investment vehicle or unit of currency builds credibility and utility with those bizarre parameters?

This time it is different, if I had three arms I'd bet the lot we never see 10k again.

 

[psionl0]

And what sort of investment vehicle or unit of currency builds credibility and utility with those bizarre parameters?

Who cares?

This time it is different, if I had three arms I'd bet the lot we never see 10k again.

Which just goes to show that you are 'armless.

 

[Samson]

Who cares?


Which just goes to show that you are 'armless.

Not yet, 8519.3 (lovely to see that decimal place again, will be two soon)

 

[PartSkeptic]

(snip)

Which just goes to show that you are 'armless.

With a little patience some of us are going to have the last laugh. (A string of icons.)

Down she goes....

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[psionl0]

With a little patience some of us are going to have the last laugh.

Considering how many posters have been humiliated because they prematurely predicted the end of bitcoin, I doubt that you will be one of the "us".

 

[Samson]

This bear market is remarkably orderly. I hypothesise the billionaires are like captains going down with the ship.

 

[psionl0]

This bear market is remarkably orderly. I hypothesise the billionaires are like captains going down with the ship.

How is this different to last time?

 

[Samson]

How is this different to last time?

There is a large distribution pattern on the weekly chart. On all previous corrections since 1000 the market was pushing new highs in 6 or 7 weeks, but here we are in week 8 and down 60% and falling.

 

[psionl0]

There is a large distribution pattern on the weekly chart. On all previous corrections since 1000 the market was pushing new highs in 6 or 7 weeks, but here we are in week 8 and down 60% and falling.

Most pathetic pattern search ever!

Why 1000? Is it because we have a decimal counting system and 1000 is a nice round number? Why does 1 week make all the difference?

 

[Samson]

Most pathetic pattern search ever!

Why 1000? Is it because we have a decimal counting system and 1000 is a nice round number? Why does 1 week make all the difference?

Here is a picture, logarithmic scale needed for this type of price move

 

[The_Animus]

Cock eyed optimist.
$500 by end of january and penny dreadful by june.

Thanks for highlighting I got direction right.
And Down 12.5%

Psychic: "I'm seeing that you lost someone recently is that correct?"

Person: "Yes!"

Psychic: "They're telling me their name is Michael, does that make sense?"

Person: "Well... no... his name was Martin"

Psychic: "Thanks, as you can see I got the first letter, 'M', right, so I'm obviously a real Psychic"

You're no different than the psychic Samson.

 

[psionl0]

Here is a picture, logarithmic scale needed for this type of price move

http://www.internationalskeptics.com/forums/attachment.php?attachmentid=37822&d=1517602689

The typical non response that we have all come to expect from you.

 

[Samson]

Psychic: "I'm seeing that you lost someone recently is that correct?"

Person: "Yes!"

Psychic: "They're telling me their name is Michael, does that make sense?"

Person: "Well... no... his name was Martin"

Psychic: "Thanks, as you can see I got the first letter, 'M', right, so I'm obviously a real Psychic"

You're no different than the psychic Samson.

The typical non response that we have all come to expect from you.

Oh come now, I keep cataloguing my predictive masterpieces to no avail in the land of the wilfully blind.
Gold, ah, what did we preach?

 

[Roger Ramjets]

Revolutionary? Or a scam...

BITCOIN is the “mother” of all bubbles

Bitcoin is the “biggest bubble in human history” and is coming down “crashing”, Nouriel Roubini, the chairman of Roubini Macro Associates has warned.

He also said that it was not just bitcoin that was experiencing the price plummet, calling all cryptocurrencies a “scam”. “The fundamental value of bitcoin is zero...there are already something like 1,300 plus cryptocurrencies or ICOs and most of them are even worse"

But but... dot-com was a bubble, yet look where the Internet is now! And Blockchain is revolutionary!

“In the early days of the internet people will say, well early days you had html, you had web, you had email, you had lots of other things you had millions of applications and hundreds of millions using them.

“After ten years what they can offer in the blockchain space, nothing, just a bunch of cryptocurrencies that are a scam.”

 

[psionl0]

Nouriel who?

 

[PartSkeptic]

Nouriel who?

You asked. I answered. Not good news I am afraid.

https://www.theguardian.com/technol...story-says-economist-who-predicted-2008-crash

The economist credited with predicting the 2008 global financial crisis said a 12% fall in the value of bitcoin on Friday was the latest proof that the cryptocurrency was the biggest bubble in history and destined for a crash.

Nouriel Roubini, professor of economics at New York University, said bitcoin was “the mother of all bubbles” favoured by “charlatans and swindlers” as it fell below $8,000 (£5,600) early on Friday, marking a 30% drop since the beginning of the week as investors became increasingly twitchy about a clampdown on cryptocurrencies by regulators. Later it rallied, climbing back over $8,600 by 3pm (GMT).

Bitcoin has lost more than half its value since hitting a peak of near $20,000 in the week before Christmas. Dubbed “Dr Doom”, Roubini said the sharp fall was the beginning of a crash that would see the value of the digital currency plummet “all the way down to zero”.