BTC down 10% just now - Why?

johnarb said:
Nocoiners like to celebrate when bitcoin has a pullback, but come on, $55K???

This is a great price for bitcoin hodlers. When bitcoin hits $75K in the next month or so, there will be celebrations from nocoiners when btc goes down to $65K

Checkout the happy posts when bitcoin went down from $42K to $28K a couple of months ago

Keep celebrating these pullbacks, nocoiners, because you need these happy moments :D
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Oh yeah.

And then they will, once again, say it is a bub bub blubbbble blub blub blub dribbling spittle from their chin babbling incoherently. Need their mommy with the rag to clean them up.
 
ZKS31 said:
All that the U.S. government has to do is write an executive order to ban Banks from having any customer relationship with any cryptocurrency firm.

You'll be trapped in Bitcoin or whatever token, without a way to get back into fiat.

Your token only has value because they can get more fiat.

If you're stuck in tokens forever, there is no fiat value anymore.

https://en.wikipedia.org/wiki/Executive_Order_6102

The government doesn't need to try to seize your wallet. All they have to do is prevent you from getting back into fiat again. lol

It's foolish to think the U.S. military never made a war plan against Bitcoin, especially since the majority of miners are in China, making it a Chinese Financial Weapon against the U.S.
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This seems no longer likely since Coinbase went public.
 
Poljot said:
This seems no longer likely since Coinbase went public.
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History has shown that the U.S. government has allowed a business to run legally until they pulled the rug from them.

Now you have a point that Wall St. has a major interest in cryptocurrency and they wouldn't waste their massive capital funding these companies if they knew the U.S. government would eventually ban it.

While it can still happen, the window is closing as more crypto companies come to the public market in the U.S.

Bitcoin won't survive once the central bank FedCoin is alive.

Cryptocurrencies can't co-exist with the FedCoin.

Right now, Bitcoin is being used as a shadow monetary policy tool to absorb excessive U.S. dollars from the traditional financial market.

Once their usefulness is expired, they will be promptly banned after the Fedcoin is live.
 
ZKS31 said:
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Bitcoin won't survive once the central bank FedCoin is alive.
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Bitcoin is around and surviving exactly because the Fed is trying to control/monitor all things money. And not just here in the U.S. but everywhere around the world, thru Fed/NY watchful eyes.
 
SunTrader said:
because the Fed is trying to control/monitor all things money
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They already have an eye on the banking system. That's why they got FinCEN and the Intelligence community like the CIA and NSA definitely knows.
 
SunTrader said:
Oh yeah.

And then they will, once again, say it is a bub bub blubbbble blub blub blub dribbling spittle from their chin babbling incoherently. Need their mommy with the rag to clean them up.
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Very impressive intellectual level of conversation!!! :wtf:
 
SunTrader said:
Bitcoin is around and surviving exactly because the Fed is trying to control/monitor all things money. And not just here in the U.S. but everywhere around the world, thru Fed/NY watchful eyes.
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What is better? Let the whales control/manipulate the monetary system?
Check the wallets to see how a very small percentage of wallets control the entire crypto business. They will (do already) abuse their power much harder.

  • Less than 0.4% of all wallets, control over 85% of all bitcoins.
  • More than 99% of bitcoin owners (including you) have no control at all about their own "money". And whales probably split their coins over several wallets for security reasons, they probably control even much more than 85%.
  • Over 76% of wallets have less than 0.01 BTC. They represent less than 0.22% of all bitcoins. And these small wallets are used to manipulate the price.
So looks like a huge (almost) monopoly. And we all know that monopolies are bad for everybody, except for those who control the monopoly.
 
deaddog said:
Right. The value of apple stock fluctuates just like the value of gold. It is based on what you can sell it for at this moment.

The value depends how the market perceives the fundamentals. I'd argue that is based on opinion.
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I'd argue you need English as a Second Language classes.

This is the definition of price:

https://www.merriam-webster.com/dictionary/price

This is the definition of value:

https://www.merriam-webster.com/dictionary/value

Price fluctuates, value is either real(cash) or abstract(intangibles).

We are all waiting for your NPV calculation of gold using DCF. Why do you not have an answer? LOL.
 
virtusa said:
What is better? Let the whales control/manipulate the monetary system?
Check the wallets to see how a very small percentage of wallets control the entire crypto business. They will (do already) abuse their power much harder.

  • Less than 0.4% of all wallets, control over 85% of all bitcoins.
  • More than 99% of bitcoin owners (including you) have no control at all about their own "money". And whales probably split their coins over several wallets for security reasons, they probably control even much more than 85%.
  • Over 76% of wallets have less than 0.01 BTC. They represent less than 0.22% of all bitcoins. And these small wallets are used to manipulate the price.
So looks like a huge (almost) monopoly. And we all know that monopolies are bad for everybody, except for those who control the monopoly.
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I would suggest you pick up the book Mastering Bitcoin to actually understand how 'control' works in Bitcoin. It has nothing to do with balances
 
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