This sharp rise in bitcoin is unsustainable

jkrules

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Quote from: The Sceptical Chymist on February 25, 2016, 10:13:52 PM

Quote from: Latwindar on February 25, 2016, 02:10:10 PM

Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

The trading volume of Ethereum is too small to have effect on the bitcoin price. The market cap is also small.

I agree. People attribute all sorts of reasons as to why bitcoin does this or that. Blame the spike on ISIS. Blame it on Pol Pot. Et cetera. It's a financial instrument, an asset, and it's traded on exchanges where people haggle over prices. That's why the price changes.

Its not all about bitcoin's mistake Its how people are using bitcoin and where!
Bump and dump is based on Supply and demand of bitcoin only dude.

yefi

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Quote from: chesthing on February 25, 2016, 09:26:25 PM

That's exactly what you live in if you are an Ethereum pumper. Congrats, you helped worm people out of their money - be proud, you sack of shit.

This has given me an idea for a sitcom. It will star a guy randomly insulting strangers for perceived misdoings. He'll walk into a bar and throw a drink at a guy wearing a suit and a tie, then he'll go to Seaworld and punch a dolphin for cohabiting with whales.

The Sceptical Chymist

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Quote from: Latwindar on February 25, 2016, 02:10:10 PM

Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

The trading volume of Ethereum is too small to have effect on the bitcoin price. The market cap is also small.

I agree. People attribute all sorts of reasons as to why bitcoin does this or that. Blame the spike on ISIS. Blame it on Pol Pot. Et cetera. It's a financial instrument, an asset, and it's traded on exchanges where people haggle over prices. That's why the price changes.

RyNinDaCleM

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Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

4 days left! Tick tock, troll

chesthing

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Quote from: yefi on February 25, 2016, 08:50:41 PM

Quote from: talks_cheep on February 25, 2016, 08:04:29 PM

All you bitcoin snobs missed out on Eth pump and dump, I made a killing and was able to cash out to BTC b4 the dump. Did I say I made a killing? I made a fuck ton of BTC. All you bitcoin snobs be morons, more profit for me!!!

Did you say moron? Hm, what's that?

Please do rescue me from my pitiful existence. Your wisdom will lift me out of the filth and garbage in which I live.

That's exactly what you live in if you are an Ethereum pumper. Congrats, you helped worm people out of their money - be proud, you sack of shit.

chesthing

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Ethereum is a the same as all the other shitcoin pump/dumps. The price gets dumped hard for long enough for most holders to give up and sell for a loss - in this case a few months. Then, the big holder(s) pump it up looking for suckers to buy back for fear of missing out. This twisted game has played out time after time, and in the end you have a few winners and many many more losers. Fucking Ethernet worthless code mind fuck, same as the rest of them. It will be worthless by the end of the year.
For the record I never bought a single Ethereum (or whatever the fuck you call it). I've just been watching this holocaust play itself out.

yefi

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Quote from: talks_cheep on February 25, 2016, 08:04:29 PM

All you bitcoin snobs missed out on Eth pump and dump, I made a killing and was able to cash out to BTC b4 the dump. Did I say I made a killing? I made a fuck ton of BTC. All you bitcoin snobs be morons, more profit for me!!!

Did you say moron? Hm, what's that?

Please do rescue me from my pitiful existence. Your wisdom will lift me out of the filth and garbage in which I live.

talks_cheep

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Quote from: yefi on February 25, 2016, 06:34:52 PM

Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

Did you say Ethereum? Hm, what's that?

Tongue

All you bitcoin snobs missed out on Eth pump and dump, I made a killing and was able to cash out to BTC b4 the dump. Did I say I made a killing? I made a fuck ton of BTC. All you bitcoin snobs be morons, more profit for me!!!

yefi

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Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

Did you say Ethereum? Hm, what's that?

Tongue

gentlemand

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How does one cash out from Ethereum and have it affect the BTC/USD or CNY market?

The big ETH volume is on alt exchanges. None of it is in China.

In theory it should be the exact opposite. If people wanted to treat themselves to a few fat hookers they'd be selling their BTC like mad.

Latwindar

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Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

The trading volume of Ethereum is too small to have effect on the bitcoin price. The market cap is also small.

stoat

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Quote from: Amph on February 18, 2016, 07:28:36 AM

Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

even before the eth pump the price was sitting around 370-380, so why it should drop suddenly to 300? no-sense and bullshit that's why

there is no more sub 350, deal with it, it would kill the mining scene in the view of the halving

Yes large mining farms will go bust owing all the millions in fiat they borrowed from investors.

Everyone is hoping for a price rise at halving, what will really happen is a bloodbath.

Amph

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Quote from: stoat on February 18, 2016, 07:14:50 AM

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

even before the eth pump the price was sitting around 370-380, so why it should drop suddenly to 300? no-sense and bullshit that's why

there is no more sub 350, deal with it, it would kill the mining scene in the view of the halving

stoat

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FREEDOM RESERVE

This rise is mostly from people cashing out from Ethereum. Once the Ethereum correction is over. Bitcoin will reverse and go down to $300

Topic: This sharp rise in bitcoin is unsustainable (Read 845 times)