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Zip

Member
Oct 28, 2017
4,019
Another 20 billion up in smoke.

So, uh, is this the biggest downturn in crypto so far?
 

Bedlam

Banned
Oct 26, 2017
4,536
Haha, only GEO is up by 20-30% right now since I bought in for fun yesterday.

But sheesh, this is rough. Too late for me to convert it all into USDT though. I'm just going to hold through this bloodbath.
 

KillstealWolf

One Winged Slayer
Avenger
Oct 27, 2017
16,062
Ugh, and now all progress from my Jan 1st buy in is gone. In it for the long-hold. But consilidating whether I should move all to VEN, that at least seems to be surviving most of the damage.
 

Hitmeneer

Member
Oct 30, 2017
117
Apparently last week wasn't the best time to double my investment in crypto..... Adc 40% down. The rest is still ok, as long as I don't check the actual Euro value as btc is dramatic.
 

lt519

Member
Oct 25, 2017
8,064
Told myself I'd buy a couple ETH if it went back below $1k when the day started, now I'm not so sure.
 

m_shortpants

Member
Oct 25, 2017
11,199
tenor.gif
 

Cipherr

Member
Oct 26, 2017
13,421
Bitconnect dies!

Changes coming for the Bitconnect system - Halt of lending and exchange platform

This is to inform all community members that we are closing the Bitconnect lending and exchange platform. We are closing the lending operation immediately with the release of all outstanding loans. With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com. You are free to withdraw your BitConnect coin currently in QT wallets that was used for staking as well. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes.

The reason for halt of lending and exchange platform has many reasons as follow:

The continuous bad press has made community members uneasy and created a lack of confidence in the platform.
We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division. These actions have become a hindrance for the legal continuation of the platform.

Outside forces have performed DDos attacks on platform several times and have made it clear that these will continue. These interruptions in service have made the platform unstable and have created more panic inside the community.

Closing the lending and exchange platform doesn't mean that we will stop supporting BitConnect coin. Closing the lending platform will allow Bitconnect to be listed on outside exchanges giving more options for trading.


Yeah, keep all those peoples bitcoin thats still worth 10k a coin and pay them out in BCC tokens which are crashing like a rock right now effectively robbing them fucking blind while you run your exit strategy breh. Fuck bitconnect and the Youtube shills that pushed it all year.

Straight up scammers top to bottom.

I like how they pretend they will "support" the coin. Theres no supporting the coin, it plummets when the dream of the ponzi dies.
 

commish

Attempted to circumvent ban with alt account
Banned
Oct 26, 2017
2,274
/heads to the bar

in some weird way this restoring my faith in the future viability of cryptocurrencies. the last months were pure speculation and the easy gains were pretty much unsustainable. I do think that this is just a temporary correction but overall the market and most importantly the market actors have to change for it to survive.

Agreed, tbh. What's crazy is that today has been a total bloodbath, but my portfolio is still basically where it was 2 weeks ago. And that's ridiculous. Just goes to show you how much it had risen the last few weeks, and how unsustainable that really is. I prefer a slower growth rather than these moonshots.
 

fuenf

Avenger
Oct 27, 2017
97
in some weird way this restoring my faith in the future viability of cryptocurrencies. the last months were pure speculation and the easy gains were pretty much unsustainable. I do think that this is just a temporary correction but overall the market and most importantly the market actors have to change for it to survive.
 

cryptoadam

Banned
Jan 2, 2018
400
So is this the death throws of crypto?

Just when I want to get in the thing is going down in flames.

The back half of 2017 was too much growth but I hope this isn't the end before I even could get started.

My prediction of 1 trillion by 2018 and 2 trillion by 2019 seems like a far off dream right now.
 

Lilalaunebaer

Member
Oct 27, 2017
1,499
I´m still up like 12x from my investment, so whatever.

Hodl, will go up anway at some point, stronger than before. Happened every single time, just the amount of time between those was different.

Either the drop continues and stays low till next month where i can put money into it again or it will go up again.
 

Smoothcb

Member
Oct 27, 2017
1,080
So is this the death throws of crypto?

Just when I want to get in the thing is going down in flames.

The back half of 2017 was too much growth but I hope this isn't the end before I even could get started.

My prediction of 1 trillion by 2018 and 2 trillion by 2019 seems like a far off dream right now.

I think it's needed to force people to make some sort of regulations like significantly higher requirements for listing on exchanges. I know bittrex requires github listings but each other exchange needs to follow and also increase the requirements.
 

lt519

Member
Oct 25, 2017
8,064
Looks like it's going to get propped up at $10k, if it falls through there it's going to get real nasty.
 
Oct 26, 2017
19,735
Am I wrong in thinking exchanges need to get their shit together with servers before things can get better? Too places are crashing left and right for days at a time, and closed registrations...
 

Domino Theory

Ripple Effect Studios
Verified
Nov 6, 2017
330
How do we prevent trash like Tron being listed and scamming people? It may have a lofty goal but they have no business raising funds in any manner now.

Well not having people who claim to know it all come in and manipulate newcomers into pumping their portfolio is a start. No one in crypto knows anything. This is the wild west and the sudden massive correction is further proof of that. Find a coin with a legit team, a proposal to solve a real-world problem on their whitepaper, high volume, and a reasonable amount of total/max supply (<billion). That's not an "I know everything" suggestion either, just some advice on my experience with playing it safe.

While the last point may not have meant much since a lot of top coins from last year's run up (IOTA, Verge, Ripple, POWR, etc.) have a billion+ coins, those are also the coins where the founders and team members just print billions of coins and hold onto them to dump in opportune moments. Ark, for example, only having 130 million means the original team members have a lot but nowhere near the 3+ billion Ripple board members currently have and are ready to dump on us.

Get a drink at a tavern in the wild west and another cowboy is ready to pull out a pistol and shoot you in the back of the head (volatility). Just grab a drink and chill with the bartender so the other cowboys can duke it out while you watch (HODL).
 

Aztechnology

Community Resettler
Avenger
Oct 25, 2017
14,134
Asian governments are really not a fan of crypto. I'm suprised it took places like China this long given the potential it has in terms of government control issues. Still a shame. I bought into some stuff at a low about 6-7 days ago on coinbase and now, I have to wait 8 days to touch it lol. So definitely just burnt some money. My plan was to move at least half to some promising alt coins for longer term trading anyway. Just sucks as I am completely unable to pull back to safety a little in the meantime. My timing was pretty awful, I just didn't think it would actually take them 8 days since it came out of my bank account days ago.

(Don't worry didn't spend anything I couldn't afford to lose).
 

Zip

Member
Oct 28, 2017
4,019
Another 10 billion gone.

I think the China news is really what's killing things at the moment. Whole lot of money people are desperately pulling out before they can no longer access it.
 

Sparkedglory2

Member
Nov 3, 2017
6,409
Asian governments are really not a fan of crypto. I'm suprised it took places like China this long given the potential it has in terms of government control issues. Still a shame. I bought into some stuff at a low about 6-7 days ago on coinbase and now, I have to wait 8 days to touch it lol. So definitely just burnt some money. My plan was to move at least half to some promising alt coins for longer term trading anyway. Just sucks as I am completely unable to pull back to safety a little in the meantime. My timing was pretty awful, I just didn't think it would actually take them 8 days since it came out of my bank account days ago.

(Don't worry didn't spend anything I couldn't afford to lose).
I'm in the exact same position you are right now. I bought some coin on coinbase a few days ago and it just sucks that we can't even do anything while all this is going on.

But put less than $50 into it, so i'm not all that bothered by it, but still.
 

Jessie

Member
Oct 27, 2017
9,921
I'm thinking Bitcoin will dip below the 100 day moving average, and then finally find a floor.
 

djplaeskool

Member
Oct 26, 2017
19,732
WORLD
HODL ON
INSTEAD OF MESSING WITH YOUR CRYPTOS
CLOSE THAT BINANCE APP
WORLD
HODL ON
IN THE NAME OF ALL THATS HOLY
STOP STARING AT COINMARKETCAP
 

Trickster

Banned
Oct 25, 2017
6,533
All this is making me glad that Kraken's customer service took so long to get back to me over my money transfer being on hold lol
 

Donos

Member
Nov 15, 2017
6,520
Fook, bought ARK at 4 €, already down to 3,60 €. Soon ARK is going to rename to Antshares and go back to sub 1 €.

Lol, ADC just got shot by a sniper. Others nearing -50 % too.