Bitcoin moves to under $4k

**Sam Odom** · 11-24-18, 07:26 PM

love to see it settle low... 500 or 100 or 1000

nonetheless , Cryptocurrency is here to stay

**icon** · 11-24-18, 07:32 PM

Originally posted by Sam Odom

love to see it settle low... 500 or 100 or 1000

nonetheless , Cryptocurrency is here to stay

Could be here to stay but the BTC price drop has a domino effect as miners opt out of mining as mining profit vanishes.

Bitcoin might just collapse on itself.

**CWD** · 11-24-18, 07:43 PM

could become pain in ass to buy again

all atms around me been empty for weeks when i emailed they said there was shortage? maybe they knew crash was coming who knows

checked localbitcoins unless i read wrong there were only 4 people in country u could meet and buy

**OTL** · 11-24-18, 07:48 PM

It will bounce back, we've seen 75+% drops before with Bitcoin. There are catalysts which will drive it back up in the new year.

Ignorant people are saying the sky is falling on the Stock message boards too....

**icon** · 11-24-18, 08:00 PM

Originally posted by OTL

It will bounce back, we've seen 75+% drops before with Bitcoin. There are catalysts which will drive it back up in the new year.

Ignorant people are saying the sky is falling on the Stock message boards too....

Bitcoin doesn't even compare to the stock market, entirely different animals.

Bitcoin is essentially a string of random keyboard characters in cyberspace processed by a software program called the blockchain.

I was a big bitcoin supporter starting back in 2014 but there is no way bitcoin doesn't eventually end up at zero.

**OTL** · 11-24-18, 08:11 PM

Originally posted by icon

Bitcoin doesn't even compare to the stock market, entirely different animals.

Bitcoin is essentially a string of random keyboard characters in cyberspace processed by a software program called the blockchain.

The money in your bank account is just 1's and 0's too, for the most part. I don't think Bitcoin is going to zero. For that to happen, everyone would have to stop using it.

**icon** · 11-24-18, 08:16 PM

Originally posted by OTL

The money in your bank account is just 1's and 0's too, for the most part. I don't think Bitcoin is going to zero. For that to happen, everyone would have to stop using it.

Yeah I've heard that argument before and its a poor analogy. Ask anyone if they have more confidence in the banking system or bitcoin. Most people use bitcoin to transfer/collect/cashout fiat currency. Bitcoin is a poor method of storing value.

I really don't want to get into an argument but bottom line for me is that bitcoin will never be adopted by the masses and isn't scalable. Bitcoin is absolutely definitely doomed long term. Most experts have been saying this for a while now.

**Sam Losco** · 11-24-18, 08:16 PM

if it gets down to 2k i might give it a shot

**icon** · 11-24-18, 08:18 PM

Originally posted by Sam Losco

if it gets down to 2k i might give it a shot

You'd be better off waiting until it hits $2.

**Sam Odom** · 11-24-18, 08:20 PM

icon

BTC aint the only crypto -- 'stable coins' are the future for international transfers - IMO

Blockchain is definitely not disappearing

**Sam Losco** · 11-24-18, 08:21 PM

Originally posted by icon

You'd be better off waiting until it hits $2.

losing 500 wont kill me

**icon** · 11-24-18, 08:24 PM

Originally posted by Sam Odom

icon

BTC aint the only crypto -- 'stable coins' are the future for international transfers - IMO

Blockchain is definitely not disappearing

Agreed, blockchain tech is here to stay. However cryptocurrency has a long way to go and I agree with the many that say bitcoin will inevitably be worthless.

Originally posted by Sam Losco

losing 500 wont kill me

Yeah you're willing to gamble, I can appreciate that. While I believe its not looking good for crypto there still may be ways to make money ($$$ not shitcoin)

**OTL** · 11-24-18, 08:25 PM

Originally posted by icon

Yeah I've heard that argument before and its a poor analogy. Ask anyone if they have more confidence in the banking system or bitcoin. Most people use bitcoin to transfer/collect/cashout fiat currency. Bitcoin is a poor method of storing value.

I really don't want to get into an argument but bottom line for me is that bitcoin will never be adopted by the masses and isn't scalable. Bitcoin is absolutely definitely doomed long term. Most experts have been saying this for a while now.

It was never intended to be scalable. It was intended to have a finite amount available, like gold. You don't transact with gold in an instant, and not everyone has it.

Virtually all of these experts are either computer illiterate, or have a vested interest in protecting the traditional banks. All of them, regardless of which side of the fence they are on have an agenda.

**icon** · 11-24-18, 08:28 PM

Originally posted by OTL

It was never intended to be scalable. It was intended to have a finite amount available, like gold. You don't transact with gold in an instant, and not everyone has it.

Virtually all of these experts are either computer illiterate, or have a vested interest in protecting the traditional banks. All of them, regardless of which side of the fence they are on have an agenda.

Yeah but bitcoin really isn't finite. Well bitcoin (as in a random string of keyboard characters in cyberspace) itself may be but then they can always increase the supply by forking it and creating more derivatives.

In order to transact bitcoin you need technology and internet access. That alone disqualifies 90+ % of the earths population. It's also very expensive to mine and miners are dropping like flies creating even more problems. As more miners shutdown bitcoins becomes less stable and open to attack. In order for bitcoin to remain stable it requires a huge number of miners.

There are so many flaws with bitcoin - too many to discuss briefly in a sports forum.

**Sam Losco** · 11-24-18, 08:31 PM

Originally posted by icon

Yeah you're willing to gamble, I can appreciate that. While I believe its not looking good for crypto there still may be ways to make money ($$$ not shitcoin)

wont make or break me, and if it gets to even half of its one time top value i will have turned 500 into 2500. its like going to the casino lol

**Outsider626** · 11-24-18, 08:33 PM

In November 2016 Bitcoin price was 780$. So Bitcoin is still in a good place. It's a chance for us smart investors to buy more. By Christmas 2018 it will be worth no less then 50k $. Buy guys!

**themike78** · 11-24-18, 08:58 PM

Originally posted by Outsider626

In November 2016 Bitcoin price was 780$. So Bitcoin is still in a good place. It's a chance for us smart investors to buy more. By Christmas 2018 it will be worth no less then 50k $. Buy guys!

No. It will never go up again. Not a chance. Bitcoin will never be accepted by the masses. It is a useless currency. Only thing it's good for is depositing to sportsbooks. You will be lucky if it's worth 500 pennies. Its amazing that people still think it will go up.

**Sam Odom** · 11-24-18, 09:01 PM

Originally posted by themike78

You will be lucky if it's worth 500 pennies.

Sammy 1st buy was at $5.xx

**krk1030** · 11-24-18, 09:02 PM

Can it stop dropping long.enough for these games to end so I can cash out.

Never again with bitcoin sportsbooks.

**icon** · 11-24-18, 09:05 PM

Originally posted by krk1030

Can it stop dropping long.enough for these games to end so I can cash out.

Never again with bitcoin sportsbooks.

Yeah I can only imagine what it was like for people holding balances at Nitrogen and other btc only books this past week. Just another reason why people will think twice about getting in too deep with a crypto-currency.

Confidence in bitcoin? That takes balls and an iron stomach.

**Sam Odom** · 11-24-18, 09:08 PM

icon

you sound extremely bitter

how much did you lose on this DROP ?

**CWD** · 11-24-18, 09:18 PM

**milwaukee mike** · 11-24-18, 09:41 PM

$14 billion traded today, out of $122 billion total value of cryptos... so that tells you it's almost all sellers, the bigger holders are liquidating and there's nobody to buy

**icon** · 11-24-18, 09:43 PM

Originally posted by Sam Odom

icon

you sound extremely bitter

how much did you lose on this DROP ?

I sound bitter? You are detecting something that isn't there. I play at Pinnacle in $dollars and stopped using bitcoin a while ago.

I am not bitter at all, haven't lost a penny (or made one) on bitcoin, I used it to fund sportsbook accts and get paid, I doubt I ever held any amt of btc in my wallet for more than 48 hours - I always converted into FIAT as soon as possible.

**Sam Odom** · 11-24-18, 09:50 PM

icon

**CWD** · 11-24-18, 09:51 PM

icon we salute you

**BigJay** · 11-24-18, 10:44 PM

It was a great ride for those that got in early and rode it to its top.

Definition of a Ponzi Scheme

**Outsider626** · 11-24-18, 10:54 PM

Almost at 3.6. Ouch!

**jjgold** · 11-24-18, 11:07 PM

Crashing

I just didn’t have much use in society investors saw there was no future

**pavyracer** · 11-24-18, 11:08 PM

I can't imagine of a bigger scam that happened the last 10 years. Let's buy an invisible currency that doesn't get backed by gold and see what happens!

**milwaukee mike** · 11-24-18, 11:13 PM

Originally posted by pavyracer

I can't imagine of a bigger scam that happened the last 10 years. Let's buy an invisible currency that doesn't get backed by gold and see what happens!

and lets invent over 2000 of those imaginary currencies, with many worth over $1 billion

probably the biggest scam of all time, not just the last 10 years... over $800 billion in crypto values at the peak

**The Giant** · 11-24-18, 11:15 PM

You guys would be wise to buy around $3000.

The boom is coming.

**MickeyMan** · 11-24-18, 11:20 PM

Originally posted by The Giant

You guys would be wise to buy around $3000.

The boom is coming.

Thanks giant, will do.

**icon** · 11-24-18, 11:26 PM

Originally posted by The Giant

You guys would be wise to buy around $3000.

The boom is coming.

**milwaukee mike** · 11-24-18, 11:30 PM

Originally posted by The Giant

You guys would be wise to buy around $3000.

The boom is coming.

hopefully you realize that funds are going to continue to liquidate before year end... for tax loss purposes, and also because no financial advisor wants to send out a statement to a client showing any holding even partly related to cryptos

why should bitcoin be worth $60 billion? there are no assets, no barrier to entry, etc etc... if facebook or amazon wanted to kill every crypto they could just invent their own

buying something for 3000 on the way up = smart
buying something for 3000 on the way down = stupid