Bitcoin Foundation executive director Llew Claasen said this is a bubble - page 2.

tk808

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Invest in your knowledge

Quote from: QuestionAuthority on January 08, 2018, 05:53:32 PM

This article perfectly describes what’s going on. It’s fairly long but well worth the read.

https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/

If your money is absolutely worthless to you then don’t read this. Just keep pouring money into bitcoin until the crash happens. You’ve been warned and now have no excuse. You also lose the right to come to this forum and bitch about the loss later. Every time one of you bitches that you lost all of your money I’m going to laugh at you and post this thread under your whining.

You should know better than to speculate on one piece of news article. Are there good points? yeah sure. But it all remains a conspiracy theory backed up by no evidence. Therefore, it's an opinion piece that is imagined by the reader to any extent he desires.

There is only 1 thing on this earth that can kill bitcoin, and that's bitcoin itself. A better concern for traders and investors would be the high tx fees. There's fact to be concerned about.

No one knows jack shit about ANY market, let alone bitcoin. Everyone is just a half-assed moron (myself included) with their thumb up their ass pretending to be Nostradamus. Nothing like Bitcoin has ever been seen in the history of the world, no future outcome can ever be predicted or "pattern-er-ized"

Reatim

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Eloncoin.org - Mars, here we come!

Quote from: Ozero on January 08, 2018, 04:20:53 AM

When bitcoin last month rose sharply in price to $ 20,000, many sane people were able to make sure that bitcoin was simply pumped up as a financial bubble at the expense of an agiotage speculative demand for it in the hope of people making a profit. Such uncontrolled growth of bitcoin is fraught with great danger both from the point of view of the possibility that bitcoin may burst like a bubble, and also because many states will try to protect their economy from unbalancing their own by restricting or even prohibiting the passage of bitcoin into these countries.

Yeah, we have seen a lot of uncontrollable buying behavior last month. It's really scary to see bitcoin being pushed to almost $20K that time. Investors are buying at top price, which make me thinks that its going to burst any moment. Specially when all this bitcoin future contracts come up, most investors didn't understand what it is and keeps buying bitcoin until we hit a wall and people started to cash out pulling the price to $12K-$13K.

Quote from: QuestionAuthority on January 08, 2018, 05:53:32 PM

This article perfectly describes what’s going on. It’s fairly long but well worth the read.

https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/

If your money is absolutely worthless to you then don’t read this. Just keep pouring money into bitcoin until the crash happens. You’ve been warned and now have no excuse. You also lose the right to come to this forum and bitch about the loss later. Every time one of you bitches that you lost all of your money I’m going to laugh at you and post this thread under your whining.

And those who are bitching are newcomers in the market thinking that they can make money in crypto by just pouring their cash into the ecosystem. And then goes to the forum asking for advise because in the first place they didn't know what they entered and bitching and scratching their heads because they have lose their money.

QuestionAuthority

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This article perfectly describes what’s going on. It’s fairly long but well worth the read.

https://www.biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/

If your money is absolutely worthless to you then don’t read this. Just keep pouring money into bitcoin until the crash happens. You’ve been warned and now have no excuse. You also lose the right to come to this forum and bitch about the loss later. Every time one of you bitches that you lost all of your money I’m going to laugh at you and post this thread under your whining.

Ozero

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When bitcoin last month rose sharply in price to $ 20,000, many sane people were able to make sure that bitcoin was simply pumped up as a financial bubble at the expense of an agiotage speculative demand for it in the hope of people making a profit. Such uncontrolled growth of bitcoin is fraught with great danger both from the point of view of the possibility that bitcoin may burst like a bubble, and also because many states will try to protect their economy from unbalancing their own by restricting or even prohibiting the passage of bitcoin into these countries.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: timikulit on January 08, 2018, 12:51:01 AM

Thank you for this update. If USDT Tether is sued by USA government what will happen? will bitcoin crash or not? and in the bottom of the article there is an advise.

"Ultimately he believes that those investors who buy and hold Bitcoin will be better off than those who try to make a quick buck by buying and then selling their Bitcoin as quickly as possible"

So it is still safe to collect and store more bitcoins?

I think what he means is Bitcoin is rising too much too fast. It would be better for people to buy and hold for a long time and let the price rise slowly. Instead people are buying and selling fast. That will cause a crash.

It’s as safe now as it’s ever been. As Gavin Andresen has said many times, only buy with money you can afford to lose.

timikulit

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Thank you for this update. If USDT Tether is sued by USA government what will happen? will bitcoin crash or not? and in the bottom of the article there is an advise.

"Ultimately he believes that those investors who buy and hold Bitcoin will be better off than those who try to make a quick buck by buying and then selling their Bitcoin as quickly as possible"

So it is still safe to collect and store more bitcoins?

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: UZIzzzz on January 08, 2018, 12:24:28 AM

Quote from: QuestionAuthority on January 07, 2018, 01:52:51 PM

”Bitcoin is heading towards a dot.com crash and is being driven by a “mania” and “market manipulation”, says Bitcoin Foundation executive director Llew Claasen.

“The fact that you have a 30% in value of Bitcoin in one day is dangerous,” said Claasen yesterday, commenting on the rise of the price in Bitcoin yesterday (7 December).

Speaking at Startup Grind event at Workshop 17 in Cape Town, he said there is strong evidence to suggest that some traders are using what he referred to as “tethers” — a digital representation of the US dollar — to push up the price of Bitcoin.

Tethers were created by a company affiliated with Bitfinex, to move into and out of market positions, he said.”

http://ventureburn.com/2017/12/bitcoin-market-manipulation/

If this is true, is it helping or hurting bitcoin?

Although I think there is a lot of bubble in the cryptocurrency market today, we can still make money from it, right? Grin

Well, sure you can make money if you know when to get out but will the manipulation hurt the public’s perception of bitcoin? Will a major crash make another large group of people that were screwed over in bitcoinland refuse to ever use bitcoin again?

UZIzzzz

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Quote from: QuestionAuthority on January 07, 2018, 01:52:51 PM

”Bitcoin is heading towards a dot.com crash and is being driven by a “mania” and “market manipulation”, says Bitcoin Foundation executive director Llew Claasen.

“The fact that you have a 30% in value of Bitcoin in one day is dangerous,” said Claasen yesterday, commenting on the rise of the price in Bitcoin yesterday (7 December).

Speaking at Startup Grind event at Workshop 17 in Cape Town, he said there is strong evidence to suggest that some traders are using what he referred to as “tethers” — a digital representation of the US dollar — to push up the price of Bitcoin.

Tethers were created by a company affiliated with Bitfinex, to move into and out of market positions, he said.”

http://ventureburn.com/2017/12/bitcoin-market-manipulation/

If this is true, is it helping or hurting bitcoin?

Although I think there is a lot of bubble in the cryptocurrency market today, we can still make money from it, right? Grin

QuestionAuthority

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You lead and I'll watch you walk away.

“The issue is that, like any investment vehicle, the value of bitcoin and other cryptocurrencies (forms of digital money) is subject to manipulation by large entities that have a stake in it, especially large-scale traders. The cryptocurrency exchange Bitfinex is the main actor to think about here.

Bitfinex’s CEO is also the CEO of a company called Tether Limited, which issues tethers (also known as USDT), a pegged cryptocurrency; that is, the tether’s value is pegged directly to that of the U.S. dollar. To do so, Tether commits to keep the dollar equivalent of all USDT value in reserves at all times. Tether offers a way to own and move fiat currency across different cryptocurrencies and exchanges without the need to convert crypto assets into dollars. That means transactions are fast and cheap, yet the price of the currency is as stable as the U.S. dollar, in theory.”

http://fortune.com/2017/11/29/bitcoin-price-11000-nasdaq-cme-futures/

QuestionAuthority

legendary

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You lead and I'll watch you walk away.

”Bitcoin is heading towards a dot.com crash and is being driven by a “mania” and “market manipulation”, says Bitcoin Foundation executive director Llew Claasen.

“The fact that you have a 30% in value of Bitcoin in one day is dangerous,” said Claasen yesterday, commenting on the rise of the price in Bitcoin yesterday (7 December).

Speaking at Startup Grind event at Workshop 17 in Cape Town, he said there is strong evidence to suggest that some traders are using what he referred to as “tethers” — a digital representation of the US dollar — to push up the price of Bitcoin.

Tethers were created by a company affiliated with Bitfinex, to move into and out of market positions, he said.”

http://ventureburn.com/2017/12/bitcoin-market-manipulation/

If this is true, is it helping or hurting bitcoin?

Topic: Bitcoin Foundation executive director Llew Claasen said this is a bubble - page 2. (Read 297 times)