Topic: Bitcoin and other Crypto's are Not so Much so Good Currently
Anonymous A started this discussion 7 years ago #80,813
https://techcrunch.com/2018/11/20/wtf-is-happening-to-crypto/Four days ago the crypto markets were crashing hard. Now they’re crashing harder. Bitcoin, which hasn’t fallen past $6,000 for months, has dumped to $4,413.99 as of this morning, and nearly everything else is falling in unison. Ethereum, flying high at $700 a few months ago, is at $140. Coinbase, that bastion of crypto stability, is currently sporting a series of charts that look like Aspen black-diamond ski runs.
What is happening? There are a number of theories, and I’ll lay out a few of them here. Ultimately, sentiment is bleak in the crypto world, with bull runs being seen as a thing of a distant past. As regulators clamp down, pie-in-the-sky ideas crash and shady dealers take their shady dealings elsewhere, the things that made cryptocurrencies so much fun — and so dangerous — are slowly draining away. What’s left is anyone’s guess, but at least it will make things less interesting.
The bag holder theory
November was supposed to be a good month for crypto. Garbage sites like FortuneJack were crowing about bitcoin stability while the old crypto hands were optimistic and pessimistic at the same time. Eric Vorhees, founder of ShapeShift, felt that the inevitable collapse of the global financial system is good for folks with at least a few BTC in their wallets.
Others, like the Binance CEO Changpeng Zhao, are expecting a bull run next year and said his company was particularly profitable.
Ultimately, crypto hype moves the market far more than it has any right to, and this is a huge problem.
So who do you believe, these guys or your own lying eyes? That’s a complex question.
What is happening? There are a number of theories, and I’ll lay out a few of them here. Ultimately, sentiment is bleak in the crypto world, with bull runs being seen as a thing of a distant past. As regulators clamp down, pie-in-the-sky ideas crash and shady dealers take their shady dealings elsewhere, the things that made cryptocurrencies so much fun — and so dangerous — are slowly draining away. What’s left is anyone’s guess, but at least it will make things less interesting.
The bag holder theory
November was supposed to be a good month for crypto. Garbage sites like FortuneJack were crowing about bitcoin stability while the old crypto hands were optimistic and pessimistic at the same time. Eric Vorhees, founder of ShapeShift, felt that the inevitable collapse of the global financial system is good for folks with at least a few BTC in their wallets.
Others, like the Binance CEO Changpeng Zhao, are expecting a bull run next year and said his company was particularly profitable.
Ultimately, crypto hype moves the market far more than it has any right to, and this is a huge problem.
So who do you believe, these guys or your own lying eyes? That’s a complex question.
Anonymous B joined in and replied with this 7 years ago, 53 minutes later[^] [v] #939,686
> Coinbase, that bastion of crypto stability, is currently sporting a series of charts that look like Aspen black-diamond ski runs.
Someone was really proud of that sentence. I bet someone wrote that sentence months ago and has been eagerly waiting to use it since then.
Someone was really proud of that sentence. I bet someone wrote that sentence months ago and has been eagerly waiting to use it since then.
Meta !Sober//iZs joined in and replied with this 7 years ago, 9 minutes later, 1 hour after the original post[^] [v] #939,691
@previous (B)
You could use it for oil too, or Apple stock, or anything really. It makes me wonder if these financial papers have a dedicated team of guys writing sentences like this and stockpiling them in a library where people writing stories can check them out and use them to add spice to their otherwise droll, dispassionate, daily digit dissertations.
You could use it for oil too, or Apple stock, or anything really. It makes me wonder if these financial papers have a dedicated team of guys writing sentences like this and stockpiling them in a library where people writing stories can check them out and use them to add spice to their otherwise droll, dispassionate, daily digit dissertations.
(Edited 37 seconds later.)
Anonymous B replied with this 7 years ago, 6 minutes later, 1 hour after the original post[^] [v] #939,694
@previous (Meta !Sober//iZs)
I've never worked in journalism, but I've always assumed that writers and editors have heads full of pithy little phrases like that for every occasion.
> stockpiling them in a library where people writing stories can check them out and use them
Million dollar idea. headlinetropes.com
I've never worked in journalism, but I've always assumed that writers and editors have heads full of pithy little phrases like that for every occasion.
> stockpiling them in a library where people writing stories can check them out and use them
Million dollar idea. headlinetropes.com
Anonymous D joined in and replied with this 7 years ago, 11 hours later, 13 hours after the original post[^] [v] #939,812
