BTC down 10% just now - Why?

[radex78]

Media said Bitcoin can be used for criminal payment, this is dangerous for human security
but they like to show superweapon for a big war.

 

[ph1l]

Just like crypto cash is divisible in any amount and any quantity.

Yes, you just need the right platform.

 

[d08]

Hasn't stopped the drug trade for decades.

But not everyone needs to move suitcase loads at a time. Just like crypto cash is divisible in any amount and any quantity.

I suspect drug trade is of lower priority compared to weapons or any military activity. And having some control is better than no control from the gov't perspective.
The confirmation of this is the fact that India and Turkey are banning it.

 

[SunTrader]

I suspect drug trade is of lower priority compared to weapons or any military activity. And having some control is better than no control from the gov't perspective.
The confirmation of this is the fact that India and Turkey are banning it.

Absolutely and why not allowing it to happen in open societies it is a priority.

Which you would think India is one, while Turkey nowadays is not. Then again in India they have yet another populist in power so .................

 

[S2007S]

As I said pn Friday expect a sweet drop of 30-50% soon in cryptocurrencies which is a joke of a drop since most are up thousands of percent.

Bitcoin down below 50,000 pushing all cryptocurrencies lower ....


Bitcoin down nearly 25% from highs....

Bitcoin bulls must be ecstatic knowing they can buy the fairytale magical coin now at 25% off......

Just wait until it's below 25, 000!!!!

 

[maxinger]

1.5 more weeks and I can day trade mini BTC futures!

more things to trade ---> more trading opportunities

sigh ... I have been missing all the fun.

One more week, and I can day trade mini BTC futures.

BTC futures day range has been very very good.
since Jan 2021, the average day range is 10%.
unfortunately, its volume is pathetic.

 

[johnarb]

Bitcoin down below 50,000 pushing all cryptocurrencies lower ....


Bitcoin down nearly 25% from highs....

Bitcoin bulls must be ecstatic knowing they can buy the fairytale magical coin now at 25% off......

Just wait until it's below 25, 000!!!!

Enjoy these happy moments anything to help you cope for not buying bitcoin at $100 eight years ago or even at $28K a couple of months ago when you were celebrating that dip

https://twitter.com/x/status/1385369466213519361

 

[remoteControl]

What is the fundamental value of anything?

The value of gold to me is that I can hold it. It will have a market value and I can use it to exchange for goods and services if the internet goes down.

I can keep a supply of gold under my bed. It is shiny and easily recognised. An ounce of gold will have the same value in any currency. Inflation hedge.

If my countries currency is devalued for whatever reason there will be a world price for gold. I believe that is the fundamental value. Given the choice I would rather hold physical gold for the next ten years than any crypto currency.

i think you're going to regret that choice

 

[remoteControl]

Yup you got me. I can't explain how gold is valued.

However I'd take gold as a payment for something. I trust that gold will have some value, even if i can't explain what it is. I wouldn't take a crypto currency because I don't understand it.

you can prefer gold, but this makes no sense. crypto obviously has value, people are exchanging it at an astonishing rate. you could take a payment in crypto and convert it to the beloved fiat of your choice. i believe you don't understand it. i suggest you start learning. this is where the money is.

 

[NoahA]

i believe you don't understand it.

I honestly hate this argument. Most people are smart enough to understand it. Yes, its decentralized. Yes, only the computer network is needed to verify transactions. We all get that part. The issue we have we don't believe it will be allowed to run wild and free.

No matter what country you live in, you have to live within a certain framework. Some countries are freer than others of course. Nobody wants to live in a shit hole country where nobody cares about anything because although you might be able to do what you want to do, the amount of corruption is usually insane, but you also cannot enjoy your wealth and freedom. So to have meaningful freedom means that there will have to be general restrictions of some sort.

If a system that completely bypasses the accepted monetary system of that country is allowed to flourish, and proves better in some respect, then the country looses the ability to finance anything. You might think that you want to live in a country that is bound by a certain set of financial principals, but good luck trying to get any services. Sure you might pay low taxes, but you also aren't going to get anything for it. Now I'm not saying what the FED is doing is right, but if crypto overtakes the USD, as an extreme example, then imagine what this does to the country. You think you will have a police force to protect you? What will happen to road maintenance? Maybe you want less environmental regulation, but then I picture clean drinking water being even difficult to come by. Perhaps the military is defunded and all of a sudden, China wants to come set up shop.

So no matter how badly managed the financial system is, I just don't think a system that is out of the hands of the authorities is what most people would benefit from. But even before it gets there, I'm certain that it won't be allowed to happen if BTC truly did threaten the dominance of the dollar. So its not that we don't understand BTC, its that it will more than likely be the demise of its own success.