Crypto Currency Thread

[CzechItOut]

Joey Deacon said:

Crypto falling a lot today, a few months ago this would have caused pages of posts but seems nobody cares anymore.

Surely everyone has sold up by now?

[Shuvi McTupya]

CzechItOut said:

Surely everyone has sold up by now?

No chance, if I had bought at ATH I would probably be holding even if that was not the right thing to do.

Personally, I am holding USD (again) and watching..

[Guvernator]

I've given up on expecting any gains for the short term a while back anyway. No point selling now so I'll just and check it once a month. If it takes off again at some point then that's good, if not then so be it, It was fun while it lasted.

[bongtom]

Bitcoin drops after Google bans adverts.

http://www.newsweek.com/bitcoin-plummet-google-ads...

Wait. Behemoth will be along to sex it up as a positive very shortly...

[anonymous-user]

bongtom said:

Bitcoin drops after Google bans adverts.

http://www.newsweek.com/bitcoin-plummet-google-ads...

Wait. Behemoth will be along to sex it up as a positive very shortly...

I sometimes watch a YouTube live feed called WhalePool which is basically a load of Bitcoin investors talking and this is exactly what they said.

Bitcoin is down to 7800 dollars this morning, if it follows the usual pattern it will get down to 6k and then people will pile in driving it straight back to 10k.

[Behemoth]

bongtom said:

Bitcoin drops after Google bans adverts.

http://www.newsweek.com/bitcoin-plummet-google-ads...

Wait. Behemoth will be along to sex it up as a positive very shortly...

Dead right. Scammy ads are blighting sensible discourse. Most intelligent YouTube channels have found it impossible to control the preroll scamsters. I think Bitconnect were the worst offenders but there were plenty of shiny suited snake oil salesmen beyond them.


The media connection between this ad ban and the price drop is very poor journalism. There are far more plausible reasons: Mt Gox uncertainty, Lagarde call for regulation are the two at the top of my mind.
I've never seen Bitcoin advertised.

[bongtom]

Lol! Right on q.

Mt.Gox has already been proven to have nothing to do with any price fluctuations.

[Behemoth]

bongtom said:

Lol! Right on q.

Mt.Gox has already been proven to have nothing to do with any price fluctuations.

Interesting, I'd like to see that proof because I see plenty of evidence that the MtGox bankruptcy trustees' actions have had a direct effect on price (I posted sthg on this up thread). I'm always open for a good debate & am happy to change my mind if I see better evidence to the contrary.

[Shuvi McTupya]

Not sure if this is accurate?

[Behemoth]

Shuvi McTupya said:

Not sure if this is accurate?

Are those MtGox sale dates inaccurate? I recall there was a lag to the trades but it was insignificant. We are looking at trigger effects here, not the entire price movement of course. After the sales had finished, there was an upswing until the news about the sales came out along with fact there are a hell of a lot more MtGox coins sitting with the trustees awaiting court judgement.

[bongtom]

Sigh. Ok let’s see how you can spin this.

My.Gox sold their coins over a month period. The total day trading volume was no more than 1.2%.

The decline was just a coincidence plus the stupid believing the media/pump and dump lot.

[Behemoth]

The dates seem spot on. Here's another analysis & tl;dnr: is that by December, BTC was such a tall Jenga stack that a small shock to supply was enough to tumble it. Of course there were other pieces of news affecting price, but the indication is that MtGox was the straw on the camel's back.

https://blog.chainalysis.com/bitcoin-price-drop/

[Shuvi McTupya]

Behemoth said:

The dates seem spot on. Here's another analysis & tl;dnr: is that by December, BTC was such a tall Jenga stack that a small shock to supply was enough to tumble it. Of course there were other pieces of news affecting price, but the indication is that MtGox was the straw on the camel's back.

https://blog.chainalysis.com/bitcoin-price-drop/

That is my feeling but I don't actually keep up with all the 'news' and hype. There is far too much noise and when it comes to alts there is just too much going on for an amateur trader to be able to keep track and filter out the bullst.

I am in a few FB groups but most of those are just full of 'when Lambo' idiots so I have unfollowed all but one.

My attentions are now focused on one guy who does lots of charting and makes no promises but encourages you to learn what the hell you are doing and stop trying to trade what you don't understand. So far his pointers have been good but it is target trading so you might only trade once a month, if that!

[bongtom]

Behemoth. Smoke and mirrors.
I’m convinced you work for one of the big exchanges or/and hold or represent a group of significant crypto holders.

You’re at the very least into marketing and damage control.

Keep those plates spinning!

[Behemoth]

bongtom said:

Behemoth. Smoke and mirrors.
I’m convinced you work for one of the big exchanges or/and hold or represent a group of significant crypto holders.

You’re at the very least into marketing and damage control.

Keep those plates spinning!

ok, keep smoking

[dimots]

Behemoth said:

I've never seen Bitcoin advertised.

E-Toro and various other crypto trading/spread-betting apps and sites advertise heavily.

[Behemoth]

dimots said:

E-Toro and various other crypto trading/spread-betting apps and sites advertise heavily.

Absolutely & I'm as tired of seeing that smug Irish guy as anyone. But he's not representing Bitcoin, Litecoin, Ether, Monero or any of the other major cryptos. Most of those platforms trade on the price, not the underlying asset.

[dimots]

Well yeah, but that's what Google is cracking down on.

It's not strictly a bitcoin ban, they have banned forex and binary too. In Israel where this industry is a national disgrace, they have reported it somewhat differently.

https://www.timesofisrael.com/google-to-ban-all-ad...

[dieseluser07]

Is this the end of crypto? No money going into it at all, really concerning.

[98elise]

dieseluser07 said:

Is this the end of crypto? No money going into it at all, really concerning.

Why is it concerning? If it's a currency then it needs to be stable.

If it's the lack of gains then that's not a bad thing. It relies on the next person being willing to pay more. That's just a Ponzi scheme.