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Dr Cheeto posted:When you definitely understand financial risk Classic head and shoulders pattern. It may also be in the "bull trap" portion of a financial crash. Who knows.
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Nov 29, 2017 21:33
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Quantum computers can flood the market lol
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Nov 29, 2017 21:34
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Also, people are calling it a "flash crash" online. No, it's just a regular crash, with the panicking, hand wringing, etc.
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Nov 29, 2017 21:36
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Ham Sandwiches posted:I don't think so, I asked a really open ended question about "What level of usage would you expect to see if Cryptos were affecting our society and not simply an internet scam"
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Nov 29, 2017 21:38
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Ham Sandwiches posted:I don't think so, I asked a really open ended question about "What level of usage would you expect to see if Cryptos were affecting our society and not simply an internet scam" and turning it into "Bitcoins will never, ever scale above 8 transactions per second, idiot" really undercuts the entire discussion because it changes the entire discourse on whether they will or won't. It implies that only Bitcoins can be a valid crypto, or that if they can't replace Visa right now they'll never be a valid alternative to fiat money for transactions. And it does it in a really misleading way, when I was just kinda trying to establish what criteria people would accept for "Cryptos are here." I think it’s an important distinction in this thread since it’s about Bitcoin. In a vacuum I think that’s what people are going to default to. In a general sense I think most of us would be willing to look at crypto currencies at the very least as an intellectual curiosity at least to a greater degree than the specific implementation of Bitcoin and the baggage that comes with
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Nov 29, 2017 21:38
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Lote posted:Also, people are calling it a "flash crash" online. No, it's just a regular crash, with the panicking, hand wringing, etc.
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Nov 29, 2017 21:40
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Is there any evidence of bitcoin being used for anything that's not incredibly dodgy yet because it feels like the price is skyrocketing based on nothing but inertia at this point
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Nov 29, 2017 21:42
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fruit on the bottom posted:I think it’s an important distinction in this thread since it’s about Bitcoin. In a vacuum I think that’s what people are going to default to. Great, then please consider this my apology for imprecise phrasing in my original question. I wasn't trying to play cute with the definitions. I consider Bitcoins to be simply another crypto, the most popular one that first took hold, but I don't see it as the only crypto that works nor do I see it as the end all solution to all crypto transactions. Since Coins are fairly fluid and exchanges make it easy to convert between them, I really don't see people being stuck with Bitcoin as the crypto currency going forward - they'll use it as long as it's useful. So for anyone willing to throw out their perspectives, I would enjoying reading people's opinions on when Crypto usage will be at a point / widespread enough in our society that they consider them something beyond a scam / ponzi scheme.
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Nov 29, 2017 21:43
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abigserve posted:Is there any evidence of bitcoin being used for anything that's not incredibly dodgy yet because it feels like the price is skyrocketing based on nothing but inertia at this point
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Nov 29, 2017 21:44
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Fair enough
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Nov 29, 2017 21:44
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abigserve posted:Is there any evidence of bitcoin being used for anything that's not incredibly dodgy yet because it feels like the price is skyrocketing based on nothing but inertia at this point Lots of real companies accept bitcoin now, like microsoft, overstock, valve etc. I think you can actually buy Teslas with bitcoin too edit: you don't actually give them bitcoin though, there is usually an intermediary that takes your bitcoin and gives the vendor USD
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Nov 29, 2017 21:45
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as long as you admit that its a risky investment vehicle designed to pump rubes for cash, and acknowledge those are your goals for using it, and its not in any way the future of or remotely useful as a currency, I am completely fine with you doing your thing edit:  http://www.forexlive.com/news/!/bitcoin-exchange-websites-crash-as-prices-fall-20-from-the-highs-00-20171129 quote:Bitcoin is down more than 20% from today's intraday high in a plunge below $9000 from as high as $11,434. FogHelmut fucked around with this message at 21:51 on Nov 29, 2017 |
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Nov 29, 2017 21:48
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How convenient for the biggest btc exchange to turn the lights off when people want to sell their
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Nov 29, 2017 21:57
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The exchanges going down are acting like a de facto circuit breaker in the stock market. Not a great thing to trip it but if they don't come up soon, it may inspire more panic.
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Nov 29, 2017 21:57
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Lote posted:The exchanges going down are acting like a de facto circuit breaker in the stock market. Not a great thing to trip it but if they don't come up soon, it may inspire more panic.
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Nov 29, 2017 22:00
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I just checked the exchanges and they seem like they're up? 
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Nov 29, 2017 22:01
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Ham Sandwiches posted:I just checked the exchanges and they seem like they're up? Why have 5 9s uptime when you can have 1 9 uptime.
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Nov 29, 2017 22:02
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Coinbase is back as well. So far it's been hovering around a 1% drop from yesterday's high. edit: There's apparently already been twice as many transactions today as the daily average.
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Nov 29, 2017 22:06
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 Sigh...I sold it all at 485ish, but if I wanted back in oh well.
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Nov 29, 2017 22:18
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Bitcoincharts is down too, probably so people don't see the value crashing into the shitter.
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Nov 29, 2017 22:20
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They probably have automation on their sites to shutdown when the price drops a certain %
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Nov 29, 2017 22:23
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temple posted:They probably have automation on their sites to shutdown when the price drops a certain % Almost certainly, I didn't crash the price from 100 dollars to 8 by posting "SELL SELL SELL" on bitcointalk without providing some kind of chart to back it up.
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Nov 29, 2017 22:25
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divabot posted:i do have a fedora though cool I have a couple pairs of overalls I like to stomp around in
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Nov 29, 2017 22:36
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and we're back in the green baby
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Nov 29, 2017 22:56
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d0grent posted:and we're back in the green baby I hope not - I'm waiting to buy back in to ETH and I think it's going to drop under 400 soon, based on literally nothing. Seriously like not even technical analysis is cooky enough for crypto market speculation.
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Nov 29, 2017 22:59
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technical analysis works stupidly well in my experience but it can't tell you what the price will drop to
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Nov 29, 2017 23:03
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lol bitcoin is back up to 10.3 you dumb goons [angrily stares a 0 bitcoin balance and closes coinbase tab]
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Nov 29, 2017 23:06
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divabot posted:i have never modded /r/buttcoin
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Nov 29, 2017 23:18
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Professor of Cats posted:lol bitcoin is back up to 10.3 you dumb goons
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Nov 29, 2017 23:24
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vortmax posted:But Hammy said you did or do mod that sub, and he does quality research! Top notch! I want you to know that there's a few real gems in this thread, and you're one of them. You're scared of actually talking to me, which is loving mind blowing, but you really really want to participate with these dumb rear end jabs which is even more incredible *checks playbook* I think it's time you respond with an ironicat emote
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Nov 29, 2017 23:24
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Lol the first day I payed attention to bitcoin in awhile is the same day that it starts tanking hard This is going to be hilarious
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Nov 29, 2017 23:28
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abigserve posted:Is there any evidence of bitcoin being used for anything that's not incredibly dodgy yet because it feels like the price is skyrocketing based on nothing but inertia at this point If you want to use Bitcoin to pay for a Starbucks(tm) Coffee(r), you are using one of the 8 transactions per second that is allowed in the entire world. But a lot of places use the exchanges, where they basically do your transaction in cash then do automated margin betting overnight to recoup the loss. This is a very dependable way to do business, and is not at all sketchy or worrisome or a barrier to acceptance. Feldegast42 posted:Lol the first day I payed attention to bitcoin in awhile is the same day that it starts tanking hard Drops of 10-20% in one day aren't even uncommon. Come back tomorrow and you might see another one.
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Nov 29, 2017 23:32
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Gold is still cool, right? Asking for a friend.
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Nov 29, 2017 23:34
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Feldegast42 posted:Lol the first day I payed attention to bitcoin in awhile is the same day that it starts tanking hard
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Nov 29, 2017 23:34
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meat police posted:Gold is still cool, right? Asking for a friend.
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Nov 29, 2017 23:47
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935 posted:If I had bought one Bitcoin last week I could sell it today and have a cool thousand bucks. gently caress goons past, now and forever. So buy one now then. The logic from last week is exactly the same as this week. If you *won't* buy now then that's not goons that's you not pulling the trigger for probably good reasons.
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Nov 29, 2017 23:57
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Hmm, exchange volume is up like 4000% I am sure this is a totally normal and not unexpected occurrence.
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Nov 29, 2017 23:57
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Drone_Fragger posted:Hmm, exchange volume is up like 4000% I am sure this is a totally normal and not unexpected occurrence. coinmarketcap has the 24h volume at $11 billion which is about 4x higher than it was when i checked a few days ago edit: that's for bitcoin specifically, i'm not sure about total volume across all exchanges and cryptos. but bitcoin is typically the top in volume so i went with just that edit2: someone else told me this exact same thing about coinbase so it's probably true but i haven't seen the official statement yet Uranium 235 fucked around with this message at 00:42 on Nov 30, 2017 |
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Nov 30, 2017 00:17
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Lote posted:The exchanges going down are acting like a de facto circuit breaker in the stock market. Not a great thing to trip it but if they don't come up soon, it may inspire more panic. Lol, it's a feature of the exchange! I worked at a trading house during the flash crash and the good thing about that was that we were able to make customers whole that might have gotten hosed. It was expensive and a huge headache but there was at least accountability.
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Nov 30, 2017 00:24
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Why don't they just make a suckertoken to give to people who got their positions wiped out by flash crashes and exchange errors. That would stop their bitching.
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Nov 30, 2017 00:32
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