BITCOIN rate plummets Discussion!! | Bitcointalksearch.org

Herbert2020

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Quote from: tayyabdar on January 16, 2018, 04:50:16 AM

As you all aware of Bitcoin and other alt currencies are plummet due to ban of Crypto currency Exchanges in South Korea and the government was preparing a law to close all the nation’s exchanges this is because of speculations about illegal acts could be perform through Crypto currency.

it has never been exactly because of the bans because in past maybe 250 times a ban news like this came out and caused a big or small dip, 99% of the times it was pure FUD and there were never a ban to begin with. 200 of that 250 times it has been China banning bitcoin from 2011ish until today. and the rest have been Russia, India, and now Korea and some other countries.
the interesting thing is when a country actually banned bitcoin (example Bangladesh) nobody even talked about it and there were no drop whatsoever!

Quote

So, my point is if anyone can give me opinion on this matter as it seems that in future more countries will follow this perception and it will badly effect the crypto market.

these things will surely slow down the progress of bitcoin (and possibly any other decentralized cryptocurrency like bitcoin, but has no effect on centralized altcoins) because it will make the adoption harder. for example merchants won't accept bitcoin as payments anymore in those countries. but it can never stop the adoption. bitcoin is still a decentralized currency and will be adopted by people and grow bigger.

additionally it is only rare cases when a country actually bans bitcoin. the rest of the world (80% of them) have adopted bitcoin one way or another. like Japan with open arms and easy regulations and no taxation on bitcoin payments or like US with a bit more strict laws regarding taxes,...

LtMotioN

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Not really, If South Africa banned BTC now I would still find some way to sell mine if I were to sell it. Its borderless money, theres no way any government can stop people using BTC.

There are plenty of options to sell it such as paypal or twitch donations or whatever, I dont need to go through a normal crypto-fiat exchange to sell it.

Its impossible to stop it, the only thing they can do is slow it down but it will prevail.
Banks and their fractional banking systems can go jump off a cliff for all I care. We need to go back to gold standard across the globe or we need to let BTC and crypto take over.

noorman0

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Will there be a BTC crisis? after a few days of various media reported that some countries have banned BTC, of course a number of BTC circulating in the relevant country will be trapped and resulted in the number of BTC in the world will be a little

BitcoinSupremo

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Quote from: guybrushthreepwood on January 16, 2018, 07:35:13 AM

Quote from: pawel7777 on January 16, 2018, 05:03:39 AM

>>>>https://bitcointalk.org/index.php?board=57.0

There is no South Korea ban as of yet. They'll just reviewing their policy. It's more about China, who are banning bitcoin for the 20th time in the last few years.

What I find most alarming about this is is that it's not even an actual thing yet and is something that has to be passed by parliament so might not even happen and probably won't, but if this is all it takes to wipe thousands of the value then bitcoin and cryptocurrencies are never going to be taken seriously. What happens when officials from other countries like the USA or others decide to start spreading rumors that they're going to ban or regulate bitcoin or exchanges? The price will plummet even more and people will purposely start manipulating the price just to be malicious and to cause disruption. If you have a gripe or fear against bitcoin because it threatens your power then it's easy just to spread fud backed by nothing other than words.

Bitcoin is already in the stock market in the USA, it means it can be bought and sold and played in the stock market like any other asset , i.e oil. This means USA is never going to ban Bitcoin. As long as one of the greatest countries in the world if not the greatest will have it readily available from the stock market and many exchanges like Coinbase I think we are safe from what you are afraid of.

AGD

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Quote from: 73blazer on January 16, 2018, 09:30:30 AM

It is not "plummeting".
It is merely going back to a much more normal sustainable growth rate, you really didn't see it coming with a rise from $5000 to $20000 in a matter of weeks? Of course it was going to go back to 5,6,7 or 8k or so.
I'm very happy so long as the price doesn't fall below $5k.

Even a falback to 2000$ will still be a 100% raise in one year, which is extraordinary.

alyssa85

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Quote from: MainIbem on January 16, 2018, 09:19:50 AM

Is Korea banning cryptocurrencies or issueing tighter controls? Some say tighter control. others say ban. Which is the correct one?

Korea is just issuing tighter controls - and that's normal, no govt minister wants angry people shouting at them for not regulating, once they have lost money.

73blazer

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It is not "plummeting".
It is merely going back to a much more normal sustainable growth rate, you really didn't see it coming with a rise from $5000 to $20000 in a matter of weeks? Of course it was going to go back to 5,6,7 or 8k or so.
I'm very happy so long as the price doesn't fall below $5k.

MainIbem

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Is Korea banning cryptocurrencies or issueing tighter controls? Some say tighter control. others say ban. Which is the correct one?

Thirdspace

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Quote from: AGD on January 16, 2018, 05:05:16 AM

This happens when whales are shorting ...
Stay strong guys!

Quote from: Anti-Cen on January 16, 2018, 06:08:18 AM

My stop-loss at $10,000 on BTC could trigger that I put in place due to high
tx fees pulling the price down of Bitcoin so it's no panic move on my part

your stop-loss would be those whales' start-profit Grin

don't take it too seriously
I'm looking at the chart within the last 30 days period, it has downward trends... not sure how low it could go
but I might be placing buy order if it goes down below 10k or 9000+

Canis Majoris

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Quote from: pawel7777 on January 16, 2018, 05:03:39 AM

>>>>https://bitcointalk.org/index.php?board=57.0

There is no South Korea ban as of yet. They'll just reviewing their policy. It's more about China, who are banning bitcoin for the 20th time in the last few years.

Weren't they doing exactly the same exactly one year ago? Correct me if I'm wrong on this, but hadn't they already banned their exchanges in January, 2017? Well, since they are banning them again, they are obviously going to unban them in a short while, again. Unless they ban them for good. Or so they promise.

On the flip side though, the price has been in correction for quite a while already. It kinda takes too long, so couldn't it actually be different this time around? I mean to say maybe we have peaked now, and there is only one way left, which is down.

superjeyy

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I am not so sure if the real reason of its decline is really the banning in South Korea, but nonetheless we've all been to the same situation and hopefully we all know how to handle this correction. It can be quite alarming since the rate range jumped from $14,000 to $11,000 but fear not. One thing we should always take note of is that Bitcoin always comes through. Just give it a little more time to recover and things will be back on track.

DexterRock

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Quote from: tayyabdar on January 16, 2018, 04:50:16 AM

As you all aware of Bitcoin and other alt currencies are plummet due to ban of Crypto currency Exchanges in South Korea and the government was preparing a law to close all the nation’s exchanges this is because of speculations about illegal acts could be perform through Crypto currency.

So, my point is if anyone can give me opinion on this matter as it seems that in future more countries will follow this perception and it will badly effect the crypto market.

Do you guys read the topics posted here before opening a new topic? This must be like number 20 post with the same theme> All coins in red, yes we know. Good opportunity to buy. Nothing more. Noone is switching off their miners or pulling plug on their mining farms after two three days of price correction. All you have is a great opportunity to buy more coins at a good price. Maybe it is not the best price and it may go lower, who knows. Invest only as much as you can afford to loose if that is why you are here. There is no certainty in trading. Certainly not in crypto trading.

Anti-Cen

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High fees = low BTC price

Quote from: taeewo on January 16, 2018, 07:39:10 AM

China banning i c o was like a bad news that affected all the cryptocurrency prices then, but later stabalize.
Am sure this will only affect for some weeks and return to normal..

Yes Tulips had bad weeks too before it went bang and clearly the market has the jitters so do you think
this is founded or not given 1000% rises in prices we have seen and I am talking of that in one day
on some coins ?

Make no mistake it's a bubble and we are gambling and the value of BTC is all based on faith but
given the transactions fees I have lost any faith in the development team so yes the price might well
bounce back but the tires are getting flat on this one IMHO

taeewo

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China banning i c o was like a bad news that affected all the cryptocurrency prices then, but later stabalize.

Am sure this will only affect for some weeks and return to normal..

guybrushthreepwood

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Quote from: pawel7777 on January 16, 2018, 05:03:39 AM

>>>>https://bitcointalk.org/index.php?board=57.0

There is no South Korea ban as of yet. They'll just reviewing their policy. It's more about China, who are banning bitcoin for the 20th time in the last few years.

What I find most alarming about this is is that it's not even an actual thing yet and is something that has to be passed by parliament so might not even happen and probably won't, but if this is all it takes to wipe thousands of the value then bitcoin and cryptocurrencies are never going to be taken seriously. What happens when officials from other countries like the USA or others decide to start spreading rumors that they're going to ban or regulate bitcoin or exchanges? The price will plummet even more and people will purposely start manipulating the price just to be malicious and to cause disruption. If you have a gripe or fear against bitcoin because it threatens your power then it's easy just to spread fud backed by nothing other than words.

rumexx

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I think this is not the case because South Korea did not ban Bitcoin as the government later issued a communique that it did not ban Bitcoin. This is retracing and it was expected since last year but it did not happen. The price is now ready to move up after hiitting the support at $11500 this morning.

GoodAltcoin

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Sale! Discount! Grin

But seriously, even if South Korea banned the exchanges (which they haven't done yet, it's more like talking about regulating the market), exchanges will pop up in other countries. Also, what about developing the decentralized exchanges, Loopring etc?

teejaymuna

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Just as the South Korea government has or intend to ban BTC so are ither governments like Russia planning to adopt BTC. Everyone will not have to like BTC. But like it or not BTC has come to stay and it's value will bounce back.

Mi5h0

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The news articles on bitcoin are the worst. How many times Bitcoin 'died' already?
I stopped counting honestly. Just let it fall, more for me. The deeper the fall, the bigger the bull run. Every time.

LtMotioN

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Stay strong and HODL, weak hands are just being shaken out of the ecosystem.

Dont say BTC is plummeting, rather say BTC is on 40% off SALE today !

Anti-Cen

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High fees = low BTC price

My stop-loss at $10,000 on BTC could trigger that I put in place due to high
tx fees pulling the price down of Bitcoin so it's no panic move on my part
if I jump out but I am not sure the drop across all alt-coins has much to do
with South Korea at all myself because Ripple is down like all the others
and that should in theory offer some protection against government
regulations

Just like on 9/11 we are being given half truths and taking it as if it's facts

usahaali04

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It is very difficult to resist if this perception is done by the state. We need to discuss this issue to institutions that are above the state, namely the United Nations.

Lucius

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I do not know what's new here,BTC price go up&down all the time,and the reason may be in some bad news or just some whales dump coins and play endless game of making profit.About a month ago we had a similar situation when price is drop to 11 000$ or even bellow that level in some exchanges,but from that time price is go up to 17 000$.Times when changes in price was only few hundred $ is over,now is few thousands up&down in a 24-48 hours.If you want to be in the world of cryptocurrency be ready for anything,there is no guarantee for price-it can be 1$ or 100 000$,otherwise is better to keep your money in some less risky assets.

maarx

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Quote from: tayyabdar on January 16, 2018, 04:50:16 AM

As you all aware of Bitcoin and other alt currencies are plummet due to ban of Crypto currency Exchanges in South Korea and the government was preparing a law to close all the nation’s exchanges this is because of speculations about illegal acts could be perform through Crypto currency.

So, my point is if anyone can give me opinion on this matter as it seems that in future more countries will follow this perception and it will badly effect the crypto market.

Though there are reasons for banning in South Korea, there are other countries like Japan has accepted and started mining in a large investment and recent news is Russia has almost discussed and decided to accept bitcoin in their country. So as coin has two sides, there are countries who really look at needed assets like bitcoin in their respective countries.

So as long as people are there suporting crypto, it does not have an end to it.

emuLOAD

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Guys, if you are scared, go away. sell every last dime you have and never look back.
This world will destory you.

Flangler

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But how can they stop them from buying crypto, for example, monero, even FBI wasn't able to prove which adress belong to whom.

bitcoinisbest

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Quote from: pawel7777 on January 16, 2018, 05:29:35 AM

Quote from: tayyabdar on January 16, 2018, 05:26:01 AM

But this current dip this due to South Korean government.... because Bitcoin never effect this due to China's ban.

https://www.express.co.uk/finance/city/905223/Ethereum-bitcoin-price-value-latest-South-Korea-cryptocurrency-shutdown-speculation

Yup, I've read a bit more and you're probably right.

This has effected a lot and again in less than an hour already 1500$ or more has being lost in per btc. this is going from bad to worse as already last week prices fall due to Korean news and again today with confirmation it is falling more and might even fall below 10k by today or tomorrow. Will it rise by Feb or will it take long time to start rising?

penig

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Quote from: pawel7777 on January 16, 2018, 05:03:39 AM

... It's more about China, who are banning bitcoin for the 20th time in the last few years.

Quoted for truth.

pawel7777

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Quote from: tayyabdar on January 16, 2018, 05:26:01 AM

But this current dip this due to South Korean government.... because Bitcoin never effect this due to China's ban.

https://www.express.co.uk/finance/city/905223/Ethereum-bitcoin-price-value-latest-South-Korea-cryptocurrency-shutdown-speculation

Yup, I've read a bit more and you're probably right.

tayyabdar

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But this current dip this due to South Korean government.... because Bitcoin never effect this due to China's ban.

https://www.express.co.uk/finance/city/905223/Ethereum-bitcoin-price-value-latest-South-Korea-cryptocurrency-shutdown-speculation

AGD

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This happens when whales are shorting ...
Stay strong guys!

pawel7777

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>>>>https://bitcointalk.org/index.php?board=57.0

There is no South Korea ban as of yet. They'll just reviewing their policy. It's more about China, who are banning bitcoin for the 20th time in the last few years.

tayyabdar

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As you all aware of Bitcoin and other alt currencies are plummet due to ban of Crypto currency Exchanges in South Korea and the government was preparing a law to close all the nation’s exchanges this is because of speculations about illegal acts could be perform through Crypto currency.

So, my point is if anyone can give me opinion on this matter as it seems that in future more countries will follow this perception and it will badly effect the crypto market.

Topic: BITCOIN rate plummets Discussion!! (Read 324 times)