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Bitcoin - Part 2

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These are an indication of the problems to come.

https://mybroadband.co.za/news/cryp...r-south-african-cryptocurrency-investors.html

A growing number of South Africans are getting into financial trouble by investing in cryptocurrencies like Bitcoin and Ethereum.

Debt Rescue CEO Neil Roets said many South Africans have been driven to the brink of bankruptcy after buying into cryptocurrency.

“We interviewed our first cryptocurrency victims towards the end of last year who wanted to go under debt review because they were no longer able to adequately service their debt,” said Roets.

“To my amazement, many of them had been the victims of scams involving cryptocurrencies which promised massive returns,” he said.

“Some of them had gone as far as pawning their vehicles, taking out second bonds on their homes, and borrowing money on credit cards in order to buy cryptocurrencies,” said Roets.

While certain consumers who approached Roets for debt counselling had fallen victim to hackers and scams, in most cases big losses were incurred due to the volatility of the cryptocurrency market.
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It is widespread.

Cryptocurrency Market Bloodbath: Bitcoin, Ripple, et al. Decline in Value

https://248qms3nhmvl15d4ne1i4pxl-wp...ntent/uploads/2017/06/Leatherface-760x400.jpg

...Today, on January 16, the cryptocurrency market experienced a major correction, for the third time in the past 10 days. The price of most cryptocurrencies including bitcoin, Ripple, Ethereum, and Bitcoin Cash declined by around 10 percent, while small cryptocurrencies recorded larger losses.

...Considering that public blockchains have not been able to demonstrate their potential through the success of decentralized applications, it is normal that the cryptocurrency market has experienced a major correction
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psionl0 said:
So nothing to do with "hoaxes" whatsoever.

This is just yet another "This time it really is the end of bitcoin (cross my heart and hope to die)".
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psion old friend, can't you read the tea leaves?
1. South Koreans trading bitcoin at 25% premiuim, which may be because they have established a secondary market with proper liquidity.
2. Mainstream media leading newscasts with bitcoin and crypto stories.
3. TA says it's over.
 
Samson said:
psion old friend, can't you read the tea leaves?
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I am not interested in woo or "something else is bad ergo bitcoin" type logic.

If you really had something worth reading you wouldn't have had to hype it up with buzz words like "hoax".
 
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I and I alone control the price of the BTC. Any time I sell my $10 portfolio, the price starts to rise. Any time I invest $10, it drops. Contact me, if you think my magical powers are worth $20 to you.
 
Dr.Sid said:
I and I alone control the price of the BTC. Any time I sell my $10 portfolio, the price starts to rise. Any time I invest $10, it drops. Contact me, if you think my magical powers are worth $20 to you.
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Let me see. I send you $20. After you invest, I buy $10,000. You then sell and afterwards I sell when the price hits $20,000. Surely you want a percentage of my profit as well? :)
 
psionl0 said:
It's nice of you to stand up for somebody who thinks that proof is irrelevant.
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Stand up for? What are you babbling about? You asked for a source and I provided it for you. That doesn't come attached with an opinion.

But rest assured, I won't make that mistake again. Next time you want a citation for something you can just suck it.
 
Argumemnon said:
Stand up for? What are you babbling about? You asked for a source and I provided it for you. That doesn't come attached with an opinion.

But rest assured, I won't make that mistake again. Next time you want a citation for something you can just suck it.
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Psion10 did not bother to look at the article. It was inside the quote marks because it was part of the article. Thanks for assisting.
 
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