This was a Mt Gox Tier Crash Over Nothing

[Anonymous No.7359722]

Just think about how stupid this is for a moment.

>People crashed the price of everything, over nothing. For no reason at all. Nothing was banned, hacked or lost.

It's just people being stupid.

Nothing has fundamentally changed with any of the good projects, and yet sellers are more or less making the bet that crypto is 100% finished by selling this low. What kind of moron suddenly decides crypto is finished without any reason?

[Anonymous No.7359764]

same way they thought it was worth anything in the first place

[Anonymous No.7359791]

>>7359764
fpbp

[Anonymous No.7359794]

>>7359722
i have no idea anon. You're right and it pisses me off

[Anonymous No.7359796]

There was no reason for it to pump that much in the first place. So it is coming down to correct valuation. At 3k.

[Anonymous No.7359805]

>>7359722
>For no reason at all

Keep believing that son. When will it stop being a coincidence for you stupid fags?

[Anonymous No.7359834]

>was

[Anonymous No.7359881]

Bitcoin is literally useless, 90% of alts are not even a product, we will recover from this but a real champion needs to come forward

[Anonymous No.7359890]

>>7359764
>>7359796
Don't get me wrong, everything was over-valued, but now things are severely undervalued. I believe in steady and constant growth over time for good projects. Good projects that are already producing or that will produce a product have fundamental value, that people are now saying is zero. That's silly.

[Anonymous No.7359899]

>>7359722
I thought China banned bitcoin?

[Anonymous No.7359920]

>>7359722
>>7359881
Except for ripple. Ripple dropped a ton of value, but it still has fundamental connections with many banks and regulators.

[Anonymous No.7359989]

Cryptocurrency is a currency that works and is supported by the people who own it.

THESE ARE THE PEOPLE WE'RE TRUSTING TO SUPPORT IT.

[Anonymous No.7360005]

>>7359920
lol

[Anonymous No.7360022]

>>7359920
REGULATORSZZZZ-ZZ

[Anonymous No.7360045]

>>7359722
Western banks banned crypto buys with credit cards
http://fortune.com/2018/02/04/banks-ban-buying-bitcoin-credit-card/
This resulted in less money coming in to balance out the money coming out

[Anonymous No.7360054]

>>7359989
I'm supporting it.

[Anonymous No.7360061]

>>7359722
whales are crashing it to accumulate @ the bottom

[Anonymous No.7360064]

>>7359722
https://www.youtube.com/watch?v=XbZ8zDpX2Mg

[Anonymous No.7360075]

>>7359722
They're not making the bet that it's finished you dumbass
If that were really true, you would see what happened with kidz coin on the day they found out it was an outright scam, more or less a single long red candle down to zero within a day

Right now the price of one BTC in only about 1,500 dollars less than where it took off from with nearly no resistance over a month ago in Dec

This is merely that in the other direction, plus a small crash on top of it maybe, and thus people who bought or sold in that time untethered from reality are raging now and in disbelief

[Anonymous No.7360088]

>>7359722
It's the fucking bubble bursting, are you blind? Doesn't matter what scenario it is, bubbles are bubbles and they burst when they want to

[Anonymous No.7360093]

>>7359722
>over nothing
>futures
stay clueless, its heading sub 1k

[Anonymous No.7360248]

>>7359722
No, it's you being stupid anon.
There is one significant thing which has changed:
People finally realized btc is useless.
Crypto isn't useless, it's just that btc is a burden for the whole market.
It needs to die off.

[Anonymous No.7360323]

>>7359722
It had to crash eventually. There isn't an infinite supply of money to flow into a pyramid scheme.
Why later rather than now?

[Anonymous No.7360933]

>>7359722
a lot is going on outside the crypto space and it's going to have an impact on crypto as well
https://www.cnbc.com/2018/02/05/xiv-exchange-traded-security-linked-to-volatility-plummets-80-percent.html

[Anonymous No.7360996]

>>7359881
explain how it's useless. i did a transaction that took about 15 minutes for 1 bitcoin the other day. literally opposite of useless.

you know what is useless? you. and your FUD.

[Anonymous No.7361105]

>>7359890
How do you go from everything overvalued to things be severely undervalued.

We are back to where we were in November.

Bitcoin was 1k a year ago from today, if anything, everything is severely overvalued right now.

[Anonymous No.7361207]

>1900% increase
>nothing

yea this is like the biggest blind side in history anon

[Anonymous No.7361331]

>>7359881
Bitcoin's value is in that it's the largest, most powerful computer network in the world. As a "store of value" hypothetically it's the most secure and has the best team of forward thinking developers on it, and the structures built around it are tested and actually functioning.

[Anonymous No.7361391]

>>7360996
> Hey I would like to pay for my coffee with bitcoins
> Sure it will only take 15 minutes
> Actually sir during these 20 minutes the price of bitcoin dropped and you didn't cover the full price for the coffee please try again
It's fucking useless unless you want a digital gold to snort you fucking kike

[Anonymous No.7361474]

>>7359722
no more people to feed the ponzi

[Anonymous No.7361479]

buy iota and thank me 1 year later
iota is the only altcoin that has a real purpose without all the other shitcoins needed.

[Anonymous No.7361543]

>>7361391
It doesn't work that like when you buy things online you cuck.

[Anonymous No.7361556]

>>7361543
If I can't use bitcoin for my everyday transactions it's fucking useless.

[Anonymous No.7361582]

>>7359722
>What kind of moron suddenly decides crypto is finished without any reason?
The same moron that suddenly decided it had value without any reason.

[Anonymous No.7361594]

>>7359881
Hes right here you know

[Anonymous No.7361626]

>>7359890
What gives any of this shit a particular "value?"

You can believee that crypto has a bright future while also believing that 1 ETH should not be selling for $1,400, or $500, or even $10.

Until there is some way of establishing value for these coins, based on ACTUAL USE and not rampant speculation, then no price is off the table as being "too low."

You all keep harping on this "HOW CAN THIS BE HAPPENING?"thing, when you're in a market that has NO FUNDAMENTALS other than "the price that someone else is willing to pay."

You're getting exactly the market that you deserve.

I swear to Christ, the rest of the world is going to force you people to understand proper asset valuation if it's the last thing we do.

[Anonymous No.7361640]

>>7359722
are you honestly still in denial and refuse to admit that tether was propping the market up and inflating it? thats what caused this

[Anonymous No.7361643]

>>7359722
The stock market was doing very well while BTC faltered. People pulled their funds out of BTC and moved it into stocks. Now stocks are falling, so even more people are pulling out of BTC because they need to cover shit like margin calls.

[Anonymous No.7361669]

>>7359722
MARKET

NICE 'N DEAD

[Anonymous No.7361674]

>>7361391
>grocery shopping
>go to pay
>that will be 0.00567854329 btc (plus transaction fee)
>please take a seat in the waiting room while your transaction clears

[Anonymous No.7361677]

>no reason
>whales with billions worth of shitcoin will not attempt to cash out after going 20x in a year
Oh wait... you believed shitcoins were actually legit... hahaha

[Anonymous No.7361742]

>>7359722
bingo, that would be someone who wants to purposefully tank the market

[Anonymous No.7361781]

>>7359722
>>7359722
Greed is why it's crashing. When it got to 19 k, those who had a lot of money cashed out should have bought back in atleast 18k to keep the circle of trust going. Allowing it to drop all the way to 10k, exposes it as something that really doesnt have any value. That's the same story for all the other cryptos. Those who made a lot keep thinking they buy the floor, but what they've done is crash the system

[Anonymous No.7361819]

>>7361781
> to keep the circle of trust going.
You mean to keep the cash flowing into the pyramid?

[Anonymous No.7361900]

>>7361594

[Anonymous No.7361902]

>>7359899
Yeah, that seems like a bit of news huh

[Anonymous No.7362023]

>>7361479
When you say things like “only” it flags you as a shill.

Don’t speak in absolutes.

>t. real world bullshit artist

[Anonymous No.7362183]

>>7361643
but where is the money going too? Its not like the dollar is rising in value

[Anonymous No.7362213]

bitcoin crashed because for the price to go up there always needs to be a bigger idiot. but the problem is all the idiots had already bought into bitcoin in nov/dec so the price had nowhere to go but down. that's why JFK got out of the stock market before the 1929 crash because the boot shiners were all talking about stocks they owned. that's the state of btc.

[Anonymous No.7362252]

>>7361781
You're real fuckin high kid, this ain't a game any more

>Circle of trust

Get out

[Anonymous No.7362310]

>>7359920
Ripple is not crypto.

[Anonymous No.7362344]

>>7359890
muh good projects, literally ETH and XMR

[Anonymous No.7362392]

>>7361331
>forward thinking developers
>a literal fucking geocentrist

Try again m8

[Anonymous No.7362511]

>>7361626
MV=PT
Bitcoin is useless.
XMR has a future.

[Anonymous No.7362782]

>>7359722
>Crypto is used for untraceable transactions some of which have a questionable legality
>Media suddenly puts spotlight on crypto
>Drug dealers and child pornographers start to worry about being traced after media spotlight
>Demand drops
The only reason that crypto rose so suddenly was that big traders wanted to make a quick buck off of it. You are stupid if you're still in crypto at this point.

[Anonymous No.7363073]

Jared Townsley.....

Tigurd, OR

Swan Labs

Killed on Mt. Hood

Two Yellow Gummy Bears Left Behind?

Name Appears In Ciphers in 2001, found in Contact List.

Apparently he was a DDoS Specialist of some sort.....also to note was the mapping of 5 UPS Awards winners that were left to be targeted for their scientific capabilities.....

As this "Crypto" Currency was made from the concepts developed by an Intelligence Collective that were made into a somewhat scandalous source for a hedge fund and source of Currency to be used for certain "ops"

Lets just say its blood money now......

[Anonymous No.7363230]

>>7359881
Let me tell you a story of how UNUSELESS BTC is.
Be me getting an investors Visa for me and my wife in Ecuador. Cost $70,000
Transfer the money from the US for $35 to a Bank in Ecuador. get my investor visa.
Fast forward 4 years. I wan to leave Ecuador and want to renounce my Investors Visa.
I have to hire a Lawyer from an official list of 5 in the Entire country. I have a job waiting for me in another country. i do all the paper work and the Lawyer informs me that it will take 3 months and I HAVE to give them power of attorney. I call 5 other lawyers and fly to Quito and goto the American Consulate. She is correct. I have to give her power of Attorny over $70,000 to get the money out of the National Bank of Ecuador.

3 months later the money is transfered into My account in Ecuador. I have to fly from Germany to Ecuador to transfer the money to the US. The entire time I had to fill oput maybe 16 pieces of paper work adn get them notorized, certified and apostilled at the Ecuadorian Consulate in Bonn.

I am in the SAME situation in Mexico right now. I have $50k in a Bank in Mexico. I have to fly there to get it and fill out tons of paper work for the US IRS and Homeland Security and the Mexican Adwana..

Guess what I am going to do ? Buy Bitcoin with it.
I send money all over the world with Bitcoin now. Bitcoin has made my life 1000xs easier..

So there ya go..

A USE out of 100s

[Anonymous No.7363275]

>>7359899
yea for the 400th time nobody gives a fuck anymore if they're banning it or not.

[Anonymous No.7363340]

>>7359722

Are you morons looking at global markets? The stock market is basically crashing hard right now. Institutions are fleeing crypto like crazy..

This is a going to be a recession.

[Anonymous No.7363347]

it was amazing it even hit 20k, but that pretty much spelled the end for it. You'd have to have been dumb to not cash out at 20 grand, let alone try to buy after it crashed from there

>down 75% this year

[Anonymous No.7363456]

>>7363340

US market dipped because it was rising too fast
Bitcoin crashed cause its worthless

[Anonymous No.7363489]

>>7362511
There's a monged faggot in every thread isn't there.

[Anonymous No.7363693]

>>7361626
fundamentals are just a crutch.
all speculative assets are speculative

[Anonymous No.7363726]

>crypto is done
>still up 40% from 3 months ago

The lack of reasons is hinting that crypto is oversold.

The DJIA just went to 24000. The last time it was there was November. The same place crypto is now. Crypto is following major market indices. People are leaving stocks and crypto and running to bonds and gold.

It's totally oversold at this point. Get ready for deals. There is nothing wrong with crypto and nothing wrong with the global economy.

Youre an idiot to sell right now.

[Anonymous No.7363806]

>>7363456

Lol I'm talking about all crypto you fucking faggot. Back to plebbit.

[Anonymous No.7363855]

>nothing has happened

south korea, china, india, Tether subpoena, BCH insider trading...

[Anonymous No.7363912]

>>7359722
>the price of literally nothing changes for literally no reason
Woooow

[Anonymous No.7363995]

>>7359722
youre missing the point. its not about crypto, its about the entire investment market as a whole. everyone is pulling out for fiat for no reason in a panic sell off. why?

fiat is increasing value...

[Anonymous No.7364028]

>>7359722
>memo was nothing

[Anonymous No.7364121]

Nobody knows what the proper valuation of any of these things are, that's why it's a speculative market. Even things with legitimate uses like Walton or Vechain could still be overvalued at this point.

[Anonymous No.7364128]

>>7360323
Because the biggest bubbles have many mini bubbles.

It's no guarantee that BTC will go back to its intrinsic value rather than just shed some of its speculative value.

[Anonymous No.7364183]

>>7359722
> dems and free food batch used credit to buy internet money.. now banks are banned credit card for crypto. demthugs selling to pay their mostly due. as simple as that.

[Anonymous No.7364210]

>>7363073
>0 results found

you need serious psychological help

[Anonymous No.7364219]

>what is shorting
>what happens when everyone tries shorting

[Anonymous No.7364268]

>>7360248
Sure, “they” are totally redpilled now.

[Anonymous No.7364405]

>>7363073
what the fuck are you talking about,

[Anonymous No.7364424]

>>7359920
1. Not decentralized
2. Not blockchain
3. Not mineable
4. Can't publicly view transaction history
5. Banks who adopt ripple technology won't use XRP as a currency (for instance, Money Order won't let you send Ripple through this tech. You'll be sending USD if anything)

If you're investing in Ripple, you're investing in a heavily centralized consultancy that (try's to) work with banking institution -- and in return for this, you get: absolutely nothing.

Good luck.

[Anonymous No.7364501]

>>7360045

LOL, you think people not putting shitcoins on their creditcards brought down the price -70% in a month.

What drugs you on my guy

[Anonymous No.7364573]

>>7361543
Currencies fail when they are exclusively for sheltered autistic crybabies who never leave home.

[Anonymous No.7364665]

>>7364128
>intrinsic value

[Anonymous No.7364756]

>>7362213
>that's why JFK got out of the stock market before the 1929 crash because the boot shiners were all talking about stocks they owned
So all of capitalism is a ponzi?
Is the stock market just one great big pump and dumb machine?
That actually makes perfect sense.

[Anonymous No.7364841]

good chance to lose weights for coinfags

[Anonymous No.7364849]

>>7361781
Circle of trust lmao
That sounds way better than pyramid scheme

[Anonymous No.7364899]

>>7364756
everything is a ponzi, its just the time frame.

[Anonymous No.7365013]

Coinbase is adding Segwit...
That means they are out of the Bcash game

[Anonymous No.7365051]

The meta game has literally shifted from
>the greater fool who buys after me
to
>the greater fool who sells after me
It's literally people shorting/hoping to buy back lower. The bounce should be hard.

[Anonymous No.7365071]

>>7363995
Except USD has been dropping for the past 6 months. So even Fiat is crashing.

[Anonymous No.7365146]

The fee problem is abated because of Coinbase adding Segwit.
Robinhood is coming online this week
US SEC is giving Bitcoin the greenlight

This is smoke and mirrors.
HoDL

[Anonymous No.7365230]

>>7359722
Just think about how stupid this is for a moment.

>People increased the price of everything, over nothing. For no reason at all. Nothing was made, improved or gained.

It's just people being stupid.

Nothing has fundamentally changed with any of the good projects, and yet buyers are more or less making the bet that crypto is 100% increasing by buying this high. What kind of moron suddenly decides crypto is pumping without any reason?

[Anonymous No.7365342]

>>7359722
Some whale sold, weak hands followed. Annoying but it's not over.

[Anonymous No.7365462]

>>7365146
This.

It's just a waiting game.

[Anonymous No.7365551]

>>7363073
i love delusional psychosis, so convincingly single-minded.

[Anonymous No.7365645]

>>7363073
>the state of /pol/tards
Nuke that board, please.

[Anonymous No.7365878]

>>7359722
Yeah, nothing has changed. It is still worthless.

[Anonymous No.7365919]

>>7364665
>long distance currency exchanges that don't have a fuckton of legal tape, tons of costs and days of waiting
Fuck you.

[Anonymous No.7365943]

>>7363073
just tell me what to dork, im too tired to figure it out

[Anonymous No.7365990]

>>7359764
This, the value of crypocurrency is based purely on speculation, there are no fundamentals here

[Anonymous No.7366056]

>>7359722
fundamentals haven't changed since about march last year, enjoy your $1000 bit coins

[Anonymous No.7366075]

>>7359920
is this bait?

[Anonymous No.7366203]

>>7366056
>fundamentals haven't changed since about march last year
do you realize what is happening tomorrow?

[Anonymous No.7366236]

>>7359805
People are too dumb to realize the only reason to FUD a coin that much isn't for the sake of the owners, its either because they wanted you to invest in their jew stocks, or they wanted to buy your coins at non ATH.

[Anonymous No.7366273]

>>7363230
yeah its like the internet for money
its not useless but people are just getting blinded by the ICO's and greed
Once all of the retarded ones die off we can move on
Like dating on the blockchain, water on the blockchain, its getting out of hand really

[Anonymous No.7366275]

>>7359764
Ouchy

[Anonymous No.7366343]

>was

[Anonymous No.7366379]

>>7361391
Absolute state of /biz/

[Anonymous No.7366389]

Look at biz now. Silently we all saw the crash coming even in december. But now we can come out of closet and say: Told you so! All the normies + tethers proped up the price.Both are missing now. Hence the crash.

[Anonymous No.7366402]

>>7359764
Yup

[Anonymous No.7366433]

>>7360996
>15 minutes
Oh wow, so useful.

[Anonymous No.7366437]

>>7359764
I don't even know why this thread has so many replies it was dead in the waters with a FPBP

[Anonymous No.7366460]

>>7359722
Crypto was in a bubble. It has been worthless for years. People knew that already, they were in denial. Crypto has less use now than it did years and years ago. You can't even buy drugs with it anymore. It's complete trash.

[Anonymous No.7366480]

>>7362782
How would they be traced you fucking retard

[Anonymous No.7366514]

>>7363073
DDoS Specialist checking in

[Anonymous No.7366559]

>>7366460

you mean bitcoin. the entire cryptosphere has more uses than ever. companies are starting to adopt blockchain solutions, especially from top 10-20 coins

[Anonymous No.7366587]

>>7361331
This delusion.

[Anonymous No.7366668]

>>7366559
It's the opposite, many companies started dropping butt coin cuss its volatility, companies like low racing and dipping coins with securities attached to it instead of roller coasters meme coins you get from video games

[Anonymous No.7366686]

cryptos dead anon
time to move on

[Anonymous No.7366707]

>>7362782
Then what are you doing in biz?

[Anonymous No.7366789]

>>7359722

Over nothing? The tether scam got out and people figured out that bitfinex and tether have been pumping the price of bitcoin by themselves all this time and it all crashed, lul.

[Anonymous No.7366820]

>>7366668
They didn't drop BTC bc of volatility but because of transfer costs. All thanks to core

[Anonymous No.7366897]

>>7366820
>All thanks to core
All thanks to Bcash and Coinbase..

but thats a thing of the past in a couple weeks with Robinhood and Segwit on Coinbase.

[Anonymous No.7366918]

>>7359890
>now things are severely undervalued

BTC was 1k and ETH was 10$ at this exact time last year. Were still way overvalued.

[Anonymous No.7367291]

>>7364756
no. Because not everything is a bubble or greater fool theory,and scarcity exists. Lets say there are two types of people that buy houses, investors and home owners. If home owners are willing to pay $500,000 for a house in the long run it is worth $500,000 however as the limited amount of space to develop lowers and development lags behind growth in people wanting to buy homes. This of course increases price over time. Queue investors.They see this and buy houses they don't care about to make money. Well here's the catch, even if there wasn't enough force to drive the price up investors give it a pump when they buy in. Then other investors see tjis and inticipate continued growth buying it. Now home owners are more and more priced out of the market as investors trade the house for $600k, $700k, $800k! it's going up up and up. Until the trail of investors runs dry. Now they have to sell it to someone actually interested in using it. Which is for $500k. that is greater fool theory. when houses trade sideways at $500k or naturally slide up. Housing is not a ponzi it just got turned into an incidental one for this example. But thats a very infrequent market occurance and not buying a home is stupid.

BTC will recover when people interested in it as a user outnumber people interested in it to buy lambos. It's important to realize where things grt value before screaming "EVERYTHING IS A PONZI" Stocks derived their value from dividends or potential of them. So they are not a ponzi, but if a stock is traditional way above the value for foreseeable payoffs be weary.

[Anonymous No.7367440]

>>7361674
it will be no different than a credit card. the money doesn't transfer with a credit card instantly either, it is only the promise of it. funds from a credit card transaction can take up to THIRTY DAYS. 15 minutes for a bitcoin transaction is lightning fast comparatively

[Anonymous No.7367505]

Highest volume coin across the board was/is TRX, a flawed whitepaper filled with pipe dreams and empty promises, not backed by any working code.

That should give you a hint towards the mindset of the average crypto investor.

[Anonymous No.7367509]

>>7359899
So did South Korea, the SEC, India, the EU, Russia and Japan ;)

[Anonymous No.7367514]

>>7359722
Its the beginning of the end, its not just crypto look at the markets , the second Weimar is upon us.

[Anonymous No.7367572]

>>7359722
It happened because I had just bought, the bogs couldn't let me get ahead

[Anonymous No.7367575]

>>7367505
kek. Why the fuck didnt I think of that.

[Anonymous No.7367660]

>>7359805
this