20 replies to this topic

[NAV]

in a freefall...

 

 

 

[NAV]

Average transaction fees for bitcoin has exploded from $20 (Dec 17) to $54 (today) . To exit from this crowded theater, we need to pay $54 now. What a rip off !

Edited by NAV, 22 December 2017 - 07:04 AM.

[fib_1618]

Sell Signal as of 12/21.

 

Weekly support at $11,000.

 

Fib

 

[SemiBizz]

VOLUME SUPPORT 10400 area... then 9800

[Swiss Trader]

Hope it's going to zero.

It's really a nerd fraud.

 

Give me a reason to buy a thing that has no value

The blockchain is a revolutionary idea, but bitcoin is only a decentralized ponzi scheme

[SemiBizz]

Environmentally toxic...

 

It will be shunned... eventually, after everyone figures that out.

 

They will wish they never heard of Distributed Perpetual Archiving...

[SemiBizz]

So gold catching a little bid here, perhaps BTC alternative strategy at this point...

Edited by SemiBizz, 22 December 2017 - 09:15 AM.

[NAV]

Hope it's going to zero.

It's really a nerd fraud.

 

Give me a reason to buy a thing that has no value

The blockchain is a revolutionary idea, but bitcoin is only a decentralized ponzi scheme

 

I don't think it will go to zero. But it will definitely crash. I think the technology will evolve into something which is economically more viable. It may take a few years, but we will get there. In the meantime, bitcoin will keep searching for a bottom. I think the speculative phase is coming to an end. There could be one more huge dead cat bounce, to trap more suckers. Folks are finally getting a taste of what it means to get caught in parabolic moves and how dip buying will turn into panic selling in minutes.

[CLK]

Bitcoin did this before, a few years ago on the first primary wave top, 80% decline. I think we get at least the same,

so the target would be 3,900.

[NAV]

Forget about Bitcoin.

 

ICOs are the biggest fraud i have seen in years.

 

•  They are not regulated. There is no compliance or reporting requirements. God knows how they are spending the investors money. 
•  You can float an ICO from Timbukto, with no address and just a whitepaper and a website. Nobody to regulate them. If they shutdown the website and disappear, who do you complain to ? Mankind has become either too greedy or have turned into freakin' morons.
•  Dot coms had solid technology behind them and there were still regulatory requirements from SEC. What they lacked was a business plan. With ICOs, there is no technology, no business plan, no regulation. It's the wild wild west of raising money ! 
• Those who think they the ICOs are backed by a solid technology, have not read the whitepapers or have not understood them. I have read some of the whitepapers which are completely hogwash. And some require a Phd in math to understand. But there is a disclaimer which says "The proofs are not peer reviewed" or "We do not have formal proofs to all our theories, which we are working on". That is a huge red flag !. But i know many of my smart friends are investing in them, not because they don't understand it, but the fear of missing out on some incredible gains !
• Would you invest in my company if i said, i have a theory to create rocket-belts, but not peer reviewed and no product to demonstrate that ?. You woudn't ! But you can float an ICO based on that, and instantly get funded.
• Remember ICOs are not all about block-chain technologies and crypto currencies. A bike sharing company in India has floated an ICO (nothing to do with crypto) and has raised $10m. Who the F^*k do you think will rent bicycles in India and get killed on those roads with disastrous traffic in India ? You know who rides bicycles in India ? One who does not have the money for even public transport or someone who is brain dead ! And those who have invested in this idea is more brain dead than those who rent them. 

 

It's incredible folks ! It's criminal that the SEC and others are turning a blind eye to all this. Just like the regulators did during the mortgage crises. The late Terry Laundry used to say that the wall street is one big racket and the folks on CNBC are shills to support that racket. He must be rolling in his grave now, watching all this. Wall street-ers are angels compared to all that is happening in the name of libertarian ideas !

Edited by NAV, 22 December 2017 - 09:42 AM.