Bitcoin's 10-Minute, $1,800 Plunge Wednesday Shows Its Volatility (siliconvalley.com) 153
An anonymous reader quotes Bloomberg News:
Bitcoin soared as much as 39% this week to $13,852, the highest since January 2018. But it hit a brick wall around 4:30 p.m. New York time Wednesday, plunging more than $1,800 within about 10 minutes. Moments later, prominent cryptocurrency exchange Coinbase Inc. reported a system outage, which was resolved after an hour. Swings continued Thursday, with the coin anywhere from down 7.3% to up 4.8%... Volatility in Bitcoin is near the highest levels since early 2018, when the bubble was bursting. Analysts said this was likely a sign of things to come.
It was just last Saturday that the price of bitcoin surged past $11,000 -- less than 24 hours after rising past $10,000. (Right now it's within $50 of $12,000.)
But another Bloomberg article notes that the price of Bitcoin tends to spike on weekends (when the traditional stock exchanges are closed), and that those spikes since just the beginning of May accounted for nearly 40% of Bitcoin's price gains in 2019. One pundit tells them it "takes a lot less to move the needle when everyone's sleeping or it's the weekend."
That rang true to Bloomberg Intelligence analyst Mike McGlone. "It is more Asia and those more sophisticated traders picking time and paths of least resistance to profit," said McGlone. "I fully expect the leveraged money professional-types are utilizing all tools to spark moves and profit from."
But another Bloomberg article notes that the price of Bitcoin tends to spike on weekends (when the traditional stock exchanges are closed), and that those spikes since just the beginning of May accounted for nearly 40% of Bitcoin's price gains in 2019. One pundit tells them it "takes a lot less to move the needle when everyone's sleeping or it's the weekend."
That rang true to Bloomberg Intelligence analyst Mike McGlone. "It is more Asia and those more sophisticated traders picking time and paths of least resistance to profit," said McGlone. "I fully expect the leveraged money professional-types are utilizing all tools to spark moves and profit from."
It's always been volatile (Score:2, Insightful)
Re: (Score:1)
At least there was an actual market for tulips.
Re: It's always been volatile (Score:2)
Tulips never bubbled. Tulip futures did.
Re: (Score:1)
I've been watching this latest bubble quite closely.
It's completely unlike the previous one because the price is going up exponentially like before but the trading volumes are tiny, ie. it looks exactly like a small bunch of people are trading bitcoin between themselves at ridiculous prices.
Conclusion: Bitcoin is now almost 100% scam. A handful of people own most of the bitcoins out there and they can inflate the price to whatever they want by creating sock puppet accounts and moving 'money' between their w
Re:Volatility is good to have. (Score:5, Interesting)
> Volatility is a good thing.
Yeah right.
There certainly are very good arguments that exist for a free and open marketplace.
But the extremes in volatility as seen in "Bitcoin" are not advantageous for it at all.
Who, in their right mind would ever keep their life savings. Much less last week's paycheck in Bitcoin?
Not being able to ascertain what the price of something will be from day to day leads to uncertainty. Speculators, far and few mind you, might be willing to accept the fact that the 30,000 XYZ units of currency they have in their bank account will buy 50 ABC units of baby formula tomorrow and 10 units the next.
But I can assure you that the vast number of people who wake up each morning to trudge down to their job at the hair salon have no stomach at all for a bag of oranges might be worth 15 units of currency today but just as likely worth 45 units of currency tomorrow.
Real people cannot function with that level of uncertainty.
I think Wozniak put it best and worst when he said something to the effect of "Bitcoin has an advantage in that it is a fixed number of units of currency available." Something like that.
Wozniak, while a rich man, isn't necessarily a financial genius. He totally ignores people's behavior in his assessment.
And per your analogy of the USSR, no, nations which have implemented price controls only believe they have implemented price controls. The volatility still exists, it's just manifested in other venues.
What they have actually done is shift the price of goods from being listed on the sales tag itself to the fact that the product exists in limited, if not outright non-existent, quantities on store shelfs. Take your pick, you can either have prices controlled with nothing on the shelf to buy, or you can have free markets. There is a real live cost to price controls. Hunger and it will vary widely from day to day.
Economics isn't hard, try again, you'll eventually get better at it.
Re: (Score:1)
I think Wozniak put it best and worst when he said something to the effect of "Bitcoin has an advantage in that it is a fixed number of units of currency available."
That isn't exactly a desirable feature in a currency. The reason why currency needs to be slightly inflationary is to encourage people to invest/loan out their money for the promise of future returns. If you just stuff your money into a mattress, it slowly loses its buying power.
There's a song in Mary Poppins about this (and then ironically, a run on the bank). Some people just don't learn from history (or somewhat catchy old pop culture musicals).
Re: (Score:2)
Re: (Score:2)
If money didn't slowly lose buying power, people who are hoarding most of the wealth would have even less incentive to re-invest it back into the economy. Even the simple act of putting money in a savings account is putting the money back to work in the economy (listen to the song in Mary Poppins, if you still don't get it).
The people who, as you say, are buying food and computers and shit, aren't the ones holding the bulk of the wealth [wikipedia.org]. Yes, people who spend all or most of what they earn are burdened sli
Re: (Score:2)
Re: (Score:2)
Re: (Score:2)
Re: (Score:1)
Please describe to me what "hoarded wealth" is? You think when someone has a savings account the bank takes a pile of bills and locks it in a room and that's where it stays forever?
I specifically gave the example of a savings account as a means by which money goes back to work in the economy. Hoarding wealth means the money is literally locked out of the economy. To continue the Disney analogy - think Scrooge McDuck's vault.
Re: (Score:2)
Re: (Score:1)
Interest rates obviously are how banks make money giving loans on inflationary currency, that's just finance 101.
The idea though, is that as the loan goes on, the terms you agreed to actually become slightly more in your favor, because the money you're using to pay back the loan has lost buying power. As in the counter-example I gave with Bitcoin, if you agreed to pay back a 1 BTC/mo loan in 2015, the terms you agreed to have now become significantly less in your favor.
Re: (Score:2)
First of all, inflation means increasing asset value. That is, the value of all your assets, as measured in the currency that is inflating, goes up. Because value is measured relatively and there is no absolute value in economics. Often people say "it's not a 0-sum game" but in this case it actually is.
Secondly, dwindling asset value is very often a good thing. If the value of an asset "oranges" goes down because the price of oranges went down, because there was a worldwide bumper crop of oranges -- hey
Re: (Score:1)
> Volatility is a good thing.
Yeah right.
There certainly are very good arguments that exist for a free and open marketplace.
But the extremes in volatility as seen in "Bitcoin" are not advantageous for it at all.
All bitcoin pricing is fake. It's controlled by a handful of Chinese guys who own most of the bitcoins out there. They trade between sock puppet accounts at whatever price they feel like.
They're not interested in Bitcoin as a currency or an ideology, they're only interested in Bitcoin as a way to part idiots from their savings.
Re: (Score:2)
Volatility is a good thing. It indicates a relatively free market exists, and that supply is rapidly changing to meet the current level of demand, and vice versa.
What you mean is that volatility is normal in a store-of-value commodity. The problem is that BTC is intended to be a currency, not a store of value, and the volatility makes it useless as a currency. It will be useful as an anonymous store of value until speculators feel that a bubble is forming, at which time they will dive into more traditional stores of value.
This tends to happen suddenly. In the case of a fast-trading virtual commodity, it will happen very suddenly.
Re: (Score:2)
Volatility is a good thing. It indicates a relatively free market exists
No, it indicates that relatively NO market exists. Volatility happens when sellers and buyers cannot agree, no one is willing to meet in the middle. In short, there is no liquidity. Volatility is a sign of a very SICK market. Before a market crash ALWAYS look for an uptick in volatility.
When demand and supply change relative to one another, the price changes, too.
True, except in a healthy market this happens in a smooth and orderly fashion, not a sudden and massive price swing.
Price fluctuations aren't a bad thing; they're a key indicator of a healthy, flexible market.
Price fluctuation is the same as saying volatility, making this another incorrect statement. There is an ind
Re: (Score:2)
Such are the risks... (Score:4, Insightful)
... associated with being an investor in libertarian internet play money.
Re: Such are the risks... (Score:2)
".... Aaand it's gone."
Not A Currency (Score:5, Insightful)
It's fine to call them 'cryptocoins' but they are not a currency. A currency is a unit of stable value that people use as a means for monetary exchange. When John the butcher buys sides of beef to cut up and sell in his Meat Shop, he counts on the currency they trade in being a stable value so he knows what to charge for steaks.
These blockchain coins are volatile speculator's adventure items.
Really bad definition (Score:2)
So you donâ(TM)t consider money in Venezuela to be currency? Itâ(TM)s had much worse declines.
Still not great (Score:2)
Bitcoin despite it's current volatility offers people in countries like Venezuela a better option than their own currency.
Yep exactly, and they've also pretty much turned to using USD despite it being illegal there. Cryptocurrency is sadly hard to use when you fail to even have reliable electricity and probably can't afford a phone or a phone bill...
What would be better than bitcoin is valuable metal like gold and silver backed currency.
Are you sure about that? [foxnews.com]
A currency foley based on what people want to
Re: (Score:3)
Yeah, because they'll suddenly stop being scarce and suddenly stop having industrial uses. Oh, wait, no they won't.
Please, tell us how you're applying this knowledge to a commodities futures portfolio. A dead certain 10% annualized return? How could you not do it, if you actually believed in that prediction.
Clueless (Score:2)
What would be better than bitcoin is valuable metal like gold and silver backed currency. If some nation set that up then they could quickly establish reserve status.
Sigh... I don't know why so many idiots think that there is something magical about bullion backed currency. It does not prevent hyper-inflation and in fact it makes it harder for central banks to deal with it when it does occur. This isn't some hypothetical musing on my part - hyper-inflation did occur in bullion backed currencies and there are numerous examples for you to look up. We used bullion backed securities for along time and we stopped using them for VERY good reasons. Backing your currency w
Re: Not A Currency (Score:3)
Really? The Euro is a different price every time I look. So, the Euro isn't a currency because it's not stable? News to me and Europe...
Re: (Score:1)
Re: Not A Currency (Score:2)
Assume for a moment that you live within your means and budget. You convert all excess cash into crypto currency, believing in the long term success of the product (and as evidenced by the last decade+ of history). You see the market getting hot, so you now start making regular day-to-day purchases with crypto currency. You've been dollar cost averaging the whole time on an asset that appreciates 1000% every 3 years, historically. You're now converting back to fiat at 10x your original price.
Cryptocurrencie
Re:Not A Currency (Score:5, Insightful)
It's fine to call them 'cryptocoins' but they are not a currency. A currency is a unit of stable value that people use as a means for monetary exchange. When John the butcher buys sides of beef to cut up and sell in his Meat Shop, he counts on the currency they trade in being a stable value so he knows what to charge for steaks.
These blockchain coins are volatile speculator's adventure items.
Other posters in this thread have it right: stability is not a requirement for something to be a currency. Many currencies are not stable. What makes something a currency is that it be a medium of monetary exchange in common use. [wikipedia.org]
I once heard a currency specialist on NPR comment about Bitcoin. He said that it was a collective hallucination that a particular abstract concept has a value. He then immediately pointed out that all currencies are collective hallucinations that a particular abstract concept has a value.
Re: (Score:2)
Currencies used to be backed by something of value, but then the great bankers invented the federal reserve system. Now most world currencies are fiat, not real. And with "quantitive easing", a popular hobby worldwide since 2008, they are backed by little more than the government owned printing press. This dollar/pound is worth it because we say so.
Any currency is worth what you can buy with it. The End.
No really. Think about it.
Stability is not a requirement to be a currency (Score:2)
It's fine to call them 'cryptocoins' but they are not a currency. A currency is a unit of stable value that people use as a means for monetary exchange.
Stability is not a defining characteristic [wikipedia.org] of a currency. It's a nice feature in a currency but currencies routinely are unstable as a store of value. In fact no currency is entirely stable as a store of value - the only question is how quickly it fluctuates in relation to the value of other commodities. Even the mighty US dollar goes up and down in value over time - just much more sedately compared with bitcoin.
When John the butcher buys sides of beef to cut up and sell in his Meat Shop, he counts on the currency they trade in being a stable value so he knows what to charge for steaks.
Go to Venezuela or any other country experiencing hyper-inflation and let me know how that th
Re: Stability is not a requirement to be a currenc (Score:1)
In Venezuela, their currency has failed. The people no longer have any trust in it. This proves my point. Sure, you can still call Venezuela's money a 'currency' if you want to be pedantic. You can call Magic The Gathering cards a currency if you like, and are at a flea market table at the right convention.
Re: Smug "Bitcoin is worthless" posts incoming (Score:5, Informative)
Dell.com?
Dell stopped accepting bitcoin after a few years citing lack of interest in bitcoin by consumers.
...
Steam stopped accepting bitcoins citing volatile prices.
The Stripe payment platform gave up on bitcoin.
WikiMedia stopped accepting donations in bitcoin
Overstock still accepts bitcoin but its CEO is a true believing bitcoin enthusiast.
So there we go, decisions made for economic reason tend to go "not accepting", decisions made for non-economic reasons, fanboi'ism, "accepting".
You don't spend what you expect to grow in value (Score:4, Insightful)
Sometimes I have deliberately chosen Bitcoin over using my credit card becaise I was wary about handing over my credit card details
Then don't hand over your real credit card number. Most credit card companies will let you create temporary numbers that you can bind to a particular vendor and set a particular limit on.
To date, I've never been ripped off or negatively affected by a swing in Bitcoin's value.
Untrue, which is why people tend to hold bitcoin rather than spend bitcoin. The expectation of a future, rapid, spectacular rise in price makes it a foolish thing to spend. Think of that first "commercial" transaction, the 10,000 bitcoin pizza. I'd say the spender was negatively affected by purchasing something rather than holding those 10,000 bitcoins.
... oh wait, there is no one to report it to and no one has the power to reverse, cancel otherwise not charge you for the fraudulent transaction anyway.
As for others they have lost money when their bitcoins were stolen (ex the exchange Mt Gox) or seized by the government (ex the exchange BTC-e). Or their cellphone had malware that attacked the wallet on their phone. Report a fraudulent transaction on your credit card and you may not be liable for the charge. Report a fraudulent transaction on your bitcoin wallet
Or when they have lost their bitcoins because they have forgotten their wallet passphrase.
Re: (Score:3)
Ah, I see...you're just buying bitcoins with cash at the time you need to make the transaction and then using the bitcoins to facilitate the transfer, basically a more secure version of Western Union or sending a check. I suppose that's fine, but you still need cash, because that's what you're using to buy the BC prior to carrying out the transaction in question. In that case, you might as well buy a prepaid debit card, I fail to see much difference at that point.
You're certainly not moving to some kind of
Re: (Score:2)
A prepaid debit card bought with cash has the nearly the same level of anonymity.
Re:You don't spend what you expect to grow in valu (Score:4, Informative)
>Untrue? If I'm buying something that costs $100 and the price of Bitcoin moves by a few bucks in either direction while I'm making the transaction, I don't care
You are moving the goal post quite a bit. I am not referring to minor fluctuations. I am referring to the expectation of major increases in price in the longer term. The fear of missing out is why people generally do not spend, why they hold. Again, the guy who did that first transaction of 10,000 bitcoin for two pizzas, how do you think people look at that transaction now with prices over $10,000 for a bitcoin, or even the $4,000 price of a couple months ago.
Bitcoin may be useful for transferring sizable amounts of money between two people (one buys with fiat and immediate transfers, the other receives and immediate sells it for fiat). But for small daily sort of transactions, a sandwich, a coffee, it makes no sense beyond stunts. In various jurisdictions, including the US, the transfer of bitcoins is a taxable event (capital gain/loss) - are you reporting those? The fees are at times prohibitive for small transactions, plus there are the fees for buying the bitcoins in the first place. A transaction showing up on the public ledger can take time, verification more time, a quick in and out transaction requires vendors to trust customers. Again, there are numerous problems once you get beyond stunts, beyond true believers wishing to make a point.
You are one of Slashdot's many "Bitcoin theorists".
Actually I have been involved with bitcoin, etherium and alt-coins for many years. Been paid in bitcoin for software development work, traded bitcoins, mined coins, been involved in mining facility operations, developers blockchain based services, ... What I am not is a true believing fanboy. I keep my expectations realistic and my risks tolerable. And this starts with admitting to myself that bitcoin is mostly a speculative investment vehicle, other uses are rare, commercial use virtual aberrations and stunts - well on the legitimate side of commerce that is.
You can invent all kinds of clever theories about why Bitcoin is a terrible idea. That's fine. I've actually used it on a number of occasions, and as I've explained above I am yet to have a single negative experience with it.
Re:Smug "Bitcoin is worthless" posts incoming (Score:4, Insightful)
Question...whatever it is you bought 30 or 40 times with Bitcoin...regarding whether you feel "ripped off", if someone offered to sell you the same thing today for the same fractional bitcoin quantity you paid, but with Bitcoin at today's ~$14k price, how would you feel about that? Or phrased differently, realizing you paid, hypothetically 0.05 Bitcoin for the item in question, how do you feel about having paid the seller $700 for it? Because that's how much the 0.05 Bitcoin would be worth at the $14k price. That's why so many people don't want to use Bitcoin to buy things. They don't want to kick themselves a month later when they realize they just "gave up" a 1000% profit by using them on a purchase for a thing that isn't going to appreciate at all.
Re: Smug "Bitcoin is worthless" posts incoming (Score:2)
If that's the way you think, you should never handle your own investments portfolio. You aren't qualified to make your own financial decisions.
Re: (Score:2)
Really? How do you think about selling your investments off? I don't sell an investment unless there's no less appreciable asset/currency available to make the purchase. Why would I buy an ice cream cone with a bitcoin that might increase by 1000% in value next week when I can use cash which I have reasonable assurance will not increase that way? Similarly, when I consider a stock sale, I weigh whether the potential lost opportunity cost of selling those shares is worth the item I'm purchasing. I would neve
Re: Smug "Bitcoin is worthless" posts incoming (Score:2)
"Why would I buy an ice cream cone with a bitcoin that might increase by 1000% in value next week"
Because you don't believe the value will increase over the next week, because you are aggressively dollar cost averaging and believe you're getting a good deal by purchasing goods and services to actualize some gains, because you don't believe in supporting financial institutions, because you are a cryptocurrency fan, etc.
Re: (Score:2)
No, it's better to utilize stable assets/currency which are unlikely to significantly fluctuate in value to purchase things (food, furniture, etc) rather than using an asset that if you can hold onto it a bit longer will significantly increase in value.
If you told me I had two options, to use Currency X to buy a pizza or to be really miserable and hungry for a week with a reasonable possibility that I would quadruple my money, I would seriously consider going without that pizza. If I had any other option, l
Re-write! (Score:2)
Isn't that headline like a near tautology? Why not write something like: Bitcoin is bitcoin! Or: Volatility is Volatility!
Pretty much means the same thing doesn't it?
Re: (Score:2)
Giant N-directional game of Chicken (Score:5, Insightful)
Everybody has their finger poised on the "sell" button so that they can be the first out the door when the bubble inevitably bursts again. In the meantime, they buy more, in the hope that other people (who are bigger suckers than they are) will drive up the price a bit further and make them a quick speculative profit.
This doesn't look like a currency, it looks like the home edition of some dystopian game show. Or perhaps Amway, without bothering with the pretense of any actual product.
Re: (Score:1)
Or perhaps Amway, without bothering with the pretense of any actual product.
Turns out people are more than happy to buy and sell nothing so long as it's the original nothing , there's a only a limited supply of nothing, they believe they can turn around and sell their nothing to the next person for more than they paid for it, and they get a number showing them exactly how much nothing they own.
That's cryptocurrency, in a nutshell.
Re: (Score:1)
I'm certain at some point in the future, the government will issue official crypto currency and it will be just as stable and boring as the number in your bank account today. "Official" in this case meaning: the force of law requires it to be accepted for repayment of debts.
That's not the case right now. Today, crypto only has value because you can put it on an exchange and sell it to someone else who is willing to trade their real money in exchange for a number in the public ledger on the blockchain. Wh
Fool's gold (Score:1)
A fool and his money are soon parted.
Re: (Score:1)
If that is the most interesting comment you have to make, then kindly fuck off. In what world does repeating two hackneyed phrases qualify as an intelligent comment that other people might find interesting?
Hold yourself to a higher fucking standard. "Fool's gold", "A fool and his money are soon parted". Pathetic.
Nobody cares about your shitty uninformed opinion about something that you barely understand. If you don't make more of an effort with your posts, everybody will just assume that you're a fucking id
how easy is it to manipulate? (Score:2)
Re: (Score:2)
see: Roger Ver
Fortunately, BTC to too big for any one person to control (Unless Satoshi rises from the dead)
Re: (Score:2)
Ha ha ha ha (Score:2)
Ha ha ha ha, err...I mean, "Oh no, that's terrrible.
Helen Lovejoy: "Won't someone think of the miners?"
Re: (Score:2)
The logical conclusion of Greater Fool Theory is that the last person to buy in is the greatest fool of all.
Re: People should learn from their mistakes (Score:2)
The great fool is the one that refuses to accept the reality that market bubbles are irrelevant if it's so frothy that each bubble just leads to a bigger one.
Amazon bubbled. So did Google. Bubbles are the natural reaction to rapidly rising prices. They say nothing about the fundamentals of the underlying asset or security.
It will go up (Score:2)
Since we are now at the beginning of the next recession thanks to Trump [msn.com] I expect the price of bitcoin and gold to go up as nervous investors move their money out of risky stocks.
The people buying them now are funds groups who are starting to see the data I posted above and looking for safe bets as employers start to cut back on production and employees.
Re: (Score:2)
no, that link you provided had nebulous crap such as
"âoeI think weâ(TM)re probably already in a recession, but I think [it will] probably be a run-of-the-mill affair, which means real GDP would decline 1.5% to 2%, not to 3.5% to 4%, you had in the very serious [past] recessions,â
so maybe we're probably in something that likely won't be dire, sorta.
Very amusing.
Re: It will go up (Score:2)
It's not about the individual risk, but with hedged risk. Bitcoin is what is referred to as a highly uncorrollated asset, meaning if you expect "everything" to crash, it's a relatively safe haven.
Re: It will go up (Score:2)
It's a highly uncorrollated asset with a decade long track record of growth.
Gold vs. bitcoin vs. paper (Score:3)
Some attributes of bitcoin:
* Scarce
* Hard to produce
* Property right is guaranteed
* Immune to counterfeiting
But unlike gold, it's not indestructible. It's only as persistent as your storage medium.
Bank balances are relatively persistent - if there's an anomaly, the bank will probably fix it.
Also, there's the 51% attack possibility.
Remember that guy who tossed his hard drive, and when bitcoin skyrocketed, it would have been worth like 75 million? He was searching through a landfill but never found it?
What about bitcoin versus paper? Again, which is relatively more stable? Hard drive or paper? Both are subject to destruction. If cash burns there's no recourse. One would have to consider how bitcoin fares relative to paper
Re: (Score:2)
that was a good story back in 2013, but some things have improved
SOP these days is to secure a wallet stored on the blockchain with a seed phrase, which is converted into a seed integer, to a deterministic wallet that can recreate the wallet's key pairs. with this type of storage, you can lose your phone or hdd, and still recover the 'lost' bitcoins if you have the seed phrase, and the wallet software.
not perfect by any stretch, but is secure enough for the
Bitcoin is censorship resistant transfer value (Score:1)
Re: (Score:2)
Volatility is the issue.
The volatility has been very sensitive to various governments' actions against bitcoin in the past few years.
Bitcoin is not a reliable store of value and is very illiquid. It's volatility makes it useless for anything but gambling.
Re: (Score:2)
That article is written by an shill, conflating "security" of bitcoin with needed power to compute hash. Wrong, the clients of the p2p network could be compromised by other means.
The extreme volatile price of bitcoin makes any "systemic stability" meaningless, it is now only a distributed gambling platform. Bitcoin can not and does not meet the definition of "money". Too illiquid and bottlenecked under high load because of poor design, too volatile, not universally accepted.
Re: (Score:2)
a state couldn't infect more than half the peers and take control? I think that's just a challenge, not a fact.
There are alternative architectures to bitcoin that don't have the bottleneck that prevents scaling and clogging under high workload. Maybe one of those could be a true virtual currency but bitcoin aint' it.
Volatile? (Score:2)
For Bitcoin, this is an expected level of volatility. I've actually been much more intrigued by the relatively low volatility buildup over the last months. That's an unusual situation for BTC and might even presage a big boom: normally low volatility hangs around before bubbles start. If the bubble is just starting now that volatility has returned, we could easily see prices hit $30k or more over the coming months.
Just about no normal people participate any longer (Score:1)
A bunch of people bought up vast amounts and some of them and some robots likely trade but why should you?
For transactions at least transaction costs had gone down before but .. really why there too? Could even use the useless Facebook one for that.
Normal people don't participation in BTC so whatever they decide to make the price doesn't matter.
And now is the dump part (Score:2)
Re: (Score:2)
> I hate to link myself, but when I see stuff like this with BT
Arent you jumping the gun a bit here with that pat on your own back?
With the dump still being a 300% rise, perhaps you should wait until it actually falls in price enough to actually call a dump.
Or at least wait until the price is lower than the amount it was when you posted your prediction.
Totally reliable and safe. (Score:1)
If you have the right expectations for a completely unregulated gambling device:
https://www.zerohedge.com/news... [zerohedge.com]
Someone made good gains on some 'coins'. Everyone should get in now while its still low.
Futures don't trade on the weekend (Score:3)
Stability in Crypto (Score:1)
Re: BITCOIN IS SCAM!!! (Score:2)
Private currencies are perfectly legal in the U.S.