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Thread: Crypto is crashing hard as bitcoin falls below $6,000

  1. #1
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    Crypto is crashing hard as bitcoin falls below $6,000

    "The value of the entire cryptocurrency market has fallen by around 10% over the last 24 hours, according to CoinMarketCap.com."

    https://www.businessinsider.com/bitc...18-8?r=UK&IR=T

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  3. #2
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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    Quote Originally Posted by Bestbud View Post
    "The value of the entire cryptocurrency market has fallen by around 10% over the last 24 hours, according to CoinMarketCap.com."

    https://www.businessinsider.com/bitc...18-8?r=UK&IR=T
    I always thought crypto currency was fools gold. It never had any value other than the supply and demand for it. The whole mining process of solving maths puzzles in computers so you can 'mine' the money is absurd: The Emperor Has No Clothes

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  5. #3
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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    A colossal waste of resources too. Not just the amount of electricity it takes to mine thin air (crypto) which is ridiculous.
    If the amount of computing power they use was put to some purposeful use. Imagine what good be achieved.

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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    Quote Originally Posted by Daveyw View Post
    A colossal waste of resources too. Not just the amount of electricity it takes to mine thin air (crypto) which is ridiculous.
    If the amount of computing power they use was put to some purposeful use. Imagine what good be achieved.
    Mining Thin Air! Nice one...so true!

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  9. #5
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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    Cryptocurrency and blockchain are the world's largest scams ever, IHMO.

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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    Quote Originally Posted by KammieD View Post
    Cryptocurrency and blockchain are the world's largest scams ever, IHMO.
    The blockchain concept definitely has a future and serious potential value. Cryptocoins? Ehhh....not so much, except in limited capacities that traditional banking either tries to shun or can't figure out a universal solution for like legal pot industry in the USA, gambling, porn, and of course, illegal stuff. That means crypto not on Bitcoin-like public ledger blockchain but on obscured blockchains like Monero and a few others use. Even then, it sure won't be widespread ever and will have a real liquidity problem.

    NUK

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  13. #7
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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    I thought this https://www.barrons.com/articles/blo...ype-1534554901 was an interesting article on blockchain.




    Crypto in general seems like a lot of smoke and mirrors with little universal application. Despite the foot stomping most is the ultimate "fiat" created from thin air and backed by nothing. At least governments have assets and the ability to tax kinda back what they print. We've heard from gold bugs for years that the dollar will collapse, and some day it might. People who think this can simply short the dollar(bet on its decline) or buy any manner of hard assets on established exchanges with zero counterparty or risk of theft.

    Other than the massive price run much like Beanie Babies I'm still at a loss as to the why of crypto.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  15. #8
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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    You're not alone, even the names wrong. Everyone's running about calling it crypto currency when they're trading it like a stock. Theyre digital assets, and even that's debatable.

    https://blokt.com/news/over-50-perce...mpression=true

    IMG_20180820_181532.jpg
    IMG_20180820_181502.jpg

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  17. #9
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    Re: Crypto is crashing hard as bitcoin falls below $6,000

    it's vaporware
    Haven't lost any money to online scams.......results are typical.

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