Cryptocoin Value and Market Trend Discussion

[Space Lynx]

I bought a Bitcoin when it was $31k+ and I still have it, but I actually think it is going down soon. The recent boost is probably due to El Salvador adopting Bitcoin as a currency, and there is anticipation and excitement, not to mention El Salvador is giving $30 to its people to download the app and encourage its use. There is probably quite a bit of buying from the government to boost the price.

you should sell it and buy a 2022 Toyota Corolla Hybrid in cash, then spend the rest of the money buying me the same car, then with the money left over we can go to strip club together and enjoy some fun times. all while saving the Earth emissions with more efficiency. plus, the ladies will be nice too.

just throwing it out there.

 

[LFaWolf]

you should sell it and buy a 2022 Toyota Corolla Hybrid in cash, then spend the rest of the money buying me the same car, then with the money left over we can go to strip club together and enjoy some fun times. all while saving the Earth emissions with more efficiency. plus, the ladies will be nice too.

just throwing it out there.

Hey, at least I have done zero mining myself. My driving has been down at least 90% since this work from home thing, but I know I didn’t offset my carbon footprint much.

I thought it has been debunked mining increases fossil fuel use substantially?

I am not a fan of mining, but miners have discovered making profits using energy, and it will not change anytime soon, regardless of the environmental impact

 

[lexluthermiester]

Humans are a failed species.

One could argue that point with a reasonable measure of success given how greedy, cruel and corrupt we insist on and continue being to each other.

 

[MentalAcetylide]

somebody triggered a dip at time when everybody expected a pump.. this lead to over leveraged longs getting liquidated big time.. some traders lost a ton of money today.. add in some normal panic selling and exchanges going down and you have what you have..

its done el salvador a favour.. they bought the dip.. he he..

i dont think it means much it will be back up again soon..

trog

heh, makes me think of the experience riding a rollercoaster without having to physically ride one. You get all excited in anticipation when it goes up, and then your ass goes in your throat when it drops.
I'm keeping my wallet well away from that.

 

[trog100]

Please some of you stop the bs, el salvador is an island, they have no gdp that would make a dent on btc price in any way, if china or the US would have adopted btc then yes. Anyway, I still think btc will go to 79k then crash back to 10k, this is just a trap for people to sell before going up again and the road is clear 79k then when sheeps think btc will go to 100k then the manipulators will crash btc price as much as 80% and the rest of all altcoins as much as 99%.

i think el salvador going bitcoin official tender today is why this crash happened when it did.. somebody dosnt want it to get off to a good start..

trog

 

[Outback Bronze]

There is no government entity that controls cryptocurrency pricing

Well this can be an issue yeah. It can be manipulated by these so called whales no?

Its not what you know it's who you know...

 

[trog100]

One could argue that point with a reasonable measure of success given how greedy, cruel and corrupt we insist on and continue being to each other.

lets not forget we are but clever monkeys.. we are still driven by exactly the same things that drive not so clever monkeys..

trog

 

[Metroid]

Well this can be an issue yeah. It can be manipulated by these so called whales no?

Its not what you know it's who you know...

You trolls need to check history, so far in all crypto currency history, that is the best way to determine where this is going short, medium and long term, history shows everything, to this date history never failed, always the same direction.

 

[Liquid Cool]

If I was given the following multiple choice question...


Which of these is true about cryptocurrency:

a) "There is no government entity that controls cryptocurrency pricing."

b) Governing bodies are in complete control of cryptocurrency pricing.

c) Cryptocurrency is a government initiative.

d) Cryptocurrency is the catalyst for a digital currency that will be monitored, controlled, and heavily taxed by a private banking cartel.

e) All of the above.


My choice would be clear.

Best Regards,

Liquid Cool

 

[LFaWolf]

I think Bitcoin is heading toward $40k by the end of the month. The punch bowl is still out but there might be too many things that investors can buy now.

 

[MentalAcetylide]

If I was given the following multiple choice question...


Which of these is true about cryptocurrency:

a) "There is no government entity that controls cryptocurrency pricing."

b) Governing bodies are in complete control of cryptocurrency pricing.

c) Cryptocurrency is a government initiative.

d) Cryptocurrency is the catalyst for a digital currency that will be monitored, controlled, and heavily taxed by a private banking cartel.

e) All of the above.


My choice would be clear.

Best Regards,

Liquid Cool

Cryptocurrency or something like it will just be the digital asset used to perform financial transactions. It will still need to be backed by something, which will most likely be gold and other precious metals. If and when a global financial crisis gets bad enough, rest assured they will be confiscating those metals(jewelry, coins, bars, etc.). Anyway, before that happens, the USD needs to be taken out of the way or at least replaced by something that will be widely accepted and considered more valuable. Perhaps in a decade it may be possible, but barring an unforeseeable crisis, I don't think its going to happen any time soon; especially with crypto since its not really backed with anything tangible.

 

[Chomiq]

A survey by the Central American University (UCA) found that only 4.8% of the 1,281 asked understood what Bitcoin was and how it was used.
More than 68% of those questioned said they disagreed with using crypto-currency as a legal tender.

Bitcoin: El Salvador divided over legal tender law

The country will be the first to recognise the crypto-currency as legal tender from September 7.

www.bbc.com

The price of Bitcoin on Tuesday crashed to its lowest in nearly a month, falling from $52,000 (£37,730) to under $43,000 at one point.
An opposition politician said the fall caused one of Latin America's poorest countries to lose $3m.

Bitcoin crashes on first day as El Salvador's legal tender

Technological glitches plagued the first day of El Salvador accepting Bitcoin as legal tender.

www.bbc.com

But no, "it's the evil banks trying to devalue bitcoin".

Here's an interview with the journalist based in El Salvador plus some discussion about other countries:

World Business Report - El Salvador makes Bitcoin legal tender - BBC Sounds

El Salvador is the first nation to recognise the cryptocurrency Bitcoin as legal tender

www.bbc.co.uk

 

[Hardcore Games]

Mining now is not what it was. Chia thrashed hard disks galore for what, a chance?

Existing miners earnings are all over the dial due to the number of transactions.

The new guy, do something else, video card's usefulness is falling over time, and more are looking at specialised machines

Regulators have been slow to step up which is a disservice. So many rip offs, its obscene.

 

[80-watt Hamster]

Mining now is not what it was. Chia thrashed hard disks galore for what, a chance?

Precisely.

Existing miners earnings are all over the dial due to the number of transactions.

In the end, isn't that kind of the point? It's cryptocurrency, and was ostensibly meant to be a means of exchange, not a store of value or an asset on its own merit.

The new guy, do something else, video card's usefulness is falling over time, and more are looking at specialised machines

Regulators have been slow to step up which is a disservice. So many rip offs, its obscene.

I don't necessarily agree with your stance on regulation here. I accept regulation as inevitable in a large-scale society, but generally feel that lesser is better. So when regulations are put in place, I'd prefer that the regulators have enough time and data to (hypothetically) make the "right"-est-as-possible decisions with those regs.

 

[dorsetknob]

Please some of you stop the bs, el salvador is an island,

Um.....no island shown in google called El Salvador
However perhaps my Google is out of Date

ps read somewhere Musk is screwing the market again by nameing his pet Dog after some varient of e coin

 

[Hardcore Games]

Hopefully Chia enthusiasts stop buying hard disks so that prices will ease so I can get some bigger disks for media etc

 

[cvaldes]

Hopefully Chia enthusiasts stop buying hard disks so that prices will ease so I can get some bigger disks for media etc

Chia mining has not affected the prices of rotational hard disk drives.

Chia mining did affect SSD pricing but Chia mining is already a bust and various media sources have reported miners dumping used SSDs on the market.

However don't expect new SSD prices to tumble. There's a widespread semiconductor shortage, not just GPUs and CPUs but basically every chip. The auto industry has been heavily affected. A lot of this comes down to materials shortages, none of which are expected to ease up in the short term. There's increasing demand and inadequate supply. It takes a lot of capital and time to build new foundries. Unsurprisingly the pandemic has not helped.

 

[Chomiq]

Fake Walmart news release claimed it would accept cryptocurrency

A news story claiming Walmart would accept cryptocurrency Litecoin was fabricated, the retail giant says.

www.bbc.com

But while it was being reported as fact, the price of Litecoin jumped from about £125 per token to close to £170, before falling back near its original price, at about £128.
It is not clear who was behind the fake release, or how they managed to publish it.

 

[ThrashZone]

Hi,
Seems easy to figure out
Just follow sells.

 

[Hardcore Games]

Fake Walmart news release claimed it would accept cryptocurrency

A news story claiming Walmart would accept cryptocurrency Litecoin was fabricated, the retail giant says.

www.bbc.com

Ads to the Ponzi nature of the claim with pump and dump

 

[MentalAcetylide]

Ads to the Ponzi nature of the claim with pump and dump

I don't know what idiots get out of doing stuff like that with their fake news. They must be a Pumpty Dumpty-wannabe. I think they should be "pumped" full of Helium gas and "dumped" at the nearest landfill.

 

[Rithsom]

You all might want to keep an eye on crypto prices today. I woke up this morning and saw that BTC and ETH slumped almost 10% in the past 12 hours.

I noticed that when crypto dips suddenly, it usually swings back up within a day and recovers a little. By tomorrow, I expect maybe a net decline in crypto prices of around 5%. Still, I'd be concerned right now if I was invested.

 

[LFaWolf]

Buy point is $40k for me. It is still far from that. Stock market is having a bit of correction today. This is why as an investor you should always have cash set aside to buy the dip.

 

[lexluthermiester]

The whole cryptocoin market is crashing again. I wonder what caused it this time?

 

[Metroid]

The whole cryptocoin market is crashing again. I wonder what caused it this time?

no fast volume, meaning if no volume then people get apprehensive and start selling, many people just buy wait a little and then sell, they know this crypto market will crash anytime hard, however I still think btc will go a little higher than 64k, to 79k then crash hard to 9.6k, hit that legendary cme gap and then will stabilize around 15k for the next 3 to 5 years or so.