[BIT SC] Cryptocurrencies #310 CRASH!!!! MOON!!! CRASH!!!

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Op donderdag 3 april 2014 10:17 schreef MaGNeT het volgende:
Op zich zou het wel goed zijn als de Bitcoin weer een paar maandjes teruggaat naar <100$.

Alle grote bedrijven die geïnvesteerd hebben door hallen vol te zetten met ASICs gaan zich dan vast nog wel even achter de oren krabben

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Op donderdag 3 april 2014 10:32 schreef stoeltafel het volgende:

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Eens, check http://coinmarketcap.com/ echt bijna alles is in het rood.

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Op donderdag 3 april 2014 10:43 schreef Nattekat het volgende:

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Hoe kreeg je dat voor elkaar?

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Op donderdag 3 april 2014 10:52 schreef kthxbye het volgende:
Heeft iemand nog een idee waar ik een beetje voordelig een zooitje:
COINYE (~500.000)
EAC (75.000 > haha die coin is echt de grootste flop ooit geworden zeg. Ik maar holden en die koers maar dalen)
WDC (250 stuks, na de Scharmbeck launch is dat ook echt weer ingeklapt toch?)
PLT (PlayToken, 150 stuks, zal echt niets waard zijn, maar toch nog even wegdoen als het kan).

Kan verkopen op exchanges? Ik ben er een paar maanden uitgeweest en ben het overzicht echt he-le-maal kwijt. Ik lees veel over scammende exchanges (hey, what's new), en ik vind het moeilijk om te vinden waar ik nu precies het voordeligst mijn overgebleven coins kwijt kan. Hope someone can help. Thanks.

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*COYE on lazycoins.com *COYE will be its OWN MARKET PAIR alongside BTC, LTC, and DOGE.
KOI on cryptorush.in
KOI on xnigma.com
COYE on beedui.com
COXE on crycurex.com

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Op donderdag 3 april 2014 11:19 schreef Nattekat het volgende:
Ben eruit op 422.5 en ga voorlopig ook niet meer terug...

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Op donderdag 3 april 2014 11:48 schreef Nattekat het volgende:

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Mijn kleine 20mBTC maakt daar geen verandering in

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Op donderdag 3 april 2014 11:19 schreef Nattekat het volgende:
Ben eruit op 422.5 en ga voorlopig ook niet meer terug...

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The statement is very complete, and with google translate, you can read that their comercial banks has no any order to shutdown and 15 april rumour is not confirmed. They are only closing third part deposits, and direct wire transfer continue ok.

Also, huobi is going up at this moment, so this confirms that this statement is really, good news

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top points:

- Huobi have not received any new instructions from the govt or from PBOC.
- They have been trying all week to clarify their position with the PBOC and have not had any kind of response, other than just to repeat the statement from 5th Dec.
- They had a conference call with their 4 main pre-paid card vendors and none of them reported any new risks or information.
- The "April 15th" date that people are worried about has come purely from the media, no other sources have reported receiving notification of that date. Nobody has been able to confirm the authenticity of this message.

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Op donderdag 3 april 2014 12:18 schreef DaMart het volgende:

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Als je even had gewacht, had je het voor 450 kunnen verkopen .

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FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014

In Bitcoin World, a week can be the equivalent of a decade.
At the start of December, Bitcoin topped out at over $1,200 as e-currency evangelists trumpeted the endless possibilities to be unleashed, comparing it to the breakthroughs not achieved since the start of the internet revolution. Bitcoiners claimed market disruption would bring credit card companies and payment platforms such as Western Union to their knees. Some even claimed that Bitcoin would supplant the U.S. dollar as the new global reserve currency. Adding more helium to the story, the Winklevoss twins of Facebook fame, not being shy about talking up their own book, predicted prices would rise to a staggering $40,000 per coin.

And from January to December 2013, markets obeyed with prices rising over 8,000 percent. In the mist of this hype, it appeared that the Bitcoin Revolution was on its way to transforming the economy, putting central bankers out of work and minting new e-currency millionaires daily. Bitcoin was priced for perfection. This past week, however, the market didn’t stick to the script. Instead it began to challenge the rhetoric, knocking prices down as low as $535, a drop of about 55 percent from recent highs. The market has finally realized that hype alone cannot support lofty prices. Bitcoin is not a legitimate currency but simply a risky virtual commodity bet.

Flawed DNA

Since inception, Bitcoin has had a flawed DNA. It was dreamed up in a virtual world -- by computer geeks -- but was to be applied in the real world. Bitcoin is steep in Libertarian and anti-Fed dogma but weak in understanding of how global economics, central banking policies and financial markets function. The lifeblood of the global capital markets is money – greenbacks -- transactional currency that facilitates commerce. Virtual currency can create value and efficiency but it needs to be linked to fiscal and monetary policy. To assume currency can be computer generated, run in a decentralized manner and outside of the central banking system and controls is farcical and economically dangerous.

For currency to be adopted as a medium of exchange there has to be trust in the ability to honor the underlying obligation and the ability for central banking policy to control inflation. Historically the Fed has done a remarkable job maintain an average inflation rate of no greater than 2.5 percent. Given that two-thirds of U.S. GDP is driven by consumption, price stability in currency is essential. Without it, GDP growth is retarded and standard of living shrinks.

Even from a basic operational standpoint there are major flaws in Bitcoin structure. For example, it is assumed that miners will behave in a responsible way and not game the system for greater financial reward. Ignored is the human element and need for controls to keep pace as increases in market prices increase incentives to cheat. Fraud is also on the rise. Recently reported was that $220 million in Bitcoins were stolen and not recovered (Business Insider, 12/4/13).

Meantime, the inherent secrecy of coin ownership decreases the ability to prevent and potentially solve crimes. There is also little legal protection for investors and significant financial risk if an owner’s hard drive gets corrupted, the computer is stolen or lost, rendering Bitcoin Wallets permanently lost. Should transfer instructions be incorrect and payments credited to a wrong account, Bitcoin transfers are not easily reversible. Moreover, the Bitcoin authenticity process also takes time which is not conducive to high volume retail sales where customers want to get in, pay for their goods and get out with no delay. In contrast, storeowners will be hesitant to have customers walk out the door with product, especially if authenticity process is not completed.

Unfit as a Currency

Bitcoin lacks the essential attributes that are needed to support a widely recognized transactional currency. If Bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.

Bitcoin has not taken off as a transactional currency and is further undermined by the fact that the majority of Bitcoin owners hoard e-coins. The more hoarded the less available to buy goods and services and spur economic growth.

In Bitcoin World it is not uncommon for prices to change by 20 or 30 percent in a given day, making Bitcoin toxic to economic growth. Price swings produce conflicting behavior. Retailers work on tight margins, sometimes as low as 10 percent. Such daily price fluctuations would eliminate all profit and inflict needless losses. Unless retailers want to be in the commodity trading business, they would not be interested in taking Bitcoin risk. At restaurants, Bitcoiners expecting coin values to drop might rush to pay for dinner even before the first entree arrives while restaurateurs would be motivated to delay payment until the drop occurred. If Bitcoin owners believe value would increase, they would hoard more coins and velocity of money would decline, harming economic growth.

In this Bitcoin World of currency uncertainty, guessing and risk, commerce would decline and bartering would increase. Naturally, as Bitcoin price swings increased, the number of businesses willing to accept e-currency risk would decline. This is why in recent weeks, as large price movements have occurred, we have seen more credible retailers saying “No” to Bitcoin.

High-Risk Commodity

Bitcoin has been trading like an out-of-control rollercoaster with price movements in 2013 climbing from $13 to $1,200 and then in only a week, careening down to a low of $535. This high-test virtual commodity has 8 times the volatility of the S&P 500 and presents significant liquidity risk. There are now over 12 million Bitcoins outstanding. This volume of ownership has not been bear-market tested and if enough sellers try to run for the door it is not clear that existing infrastructure is capable of executing trade orders without significant time delays and price risk.

The buying and selling of Bitcoin is also controlled by only a handful of exchanges in places like China, Slovenia and Bulgaria. These exchanges are based on a peer-to-peer model and regulation is light with price disparities between exchanges commonplace. Exchange bankruptcies are not uncommon. In November, GBL, a Hong Kong based Bitcoin exchange closed it’s doors, costing investors over $4 million. As a virtual commodity, it is a high-risk bet in a wild-west atmosphere, requiring speculators to stay cautiously alert.

China Pricked the Bubble

Every asset bubble has three stages; growth, maturity and pop. Growth started in 2011, followed by the maturity stage in 2013 and now the pop stage. The pin that burst the Bitcoin hyper bubble was China.

Ironically, China, the second largest economy in the world, helped push Bitcoin prices to the clouds and now is pulling prices back to earth. In the last week, China has delivered three knockdown punches. First the central bank forbade its banks from accepting Bitcoin as currency. Then, Baidu, China’s Google equivalent, announced it would no longer process Bitcoins. Finally, China banned third-party payment companies from transacting with Bitcoin exchanges. This last announcement significantly weakens market liquidity for BTC China, the largest Bitcoin exchange. By voting “No” on Bitcoin, China fueled greater market skepticism. Markets have already responded by lopping off, at the low, $6 billion in Bitcoin investment value.

Other wealthy and powerful countries have taken a similar position, warning against the risks of this wannabe currency. Moves by European Banking Authority representing the largest economy in the world, France, the fifth largest economy and Norway, the wealthiest in Scandinavia all point to a growing number of roadblocks. Last month, Fed Chairman Ben Bernanke indicated e-currency “may have long-term promise” but his statement was not a ringing endorsement for Bitcoin adoption. To the contrary, as large price swings continue, U.S. and other G20 countries will raise concerns, restrictions and begin clamping down on virtual currencies.

Bitcoin has seen an end to its hyper price run-up and can no longer support being priced for perfection. Unlike gold which has tangible value, Bitcoin is backed by hopes/dreams and only worth what people are willing to pay. As it becomes increasingly evident that Bitcoin will not be the global currency standard, but simply a novel idea that will be improved upon by more nimble competitors such as Litecoin, restrictions and new regulations will be imposed and prices will plummet.

I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play. Miners/speculators will be best served to acknowledge the meltdown has begun, act quickly and take fleeting profit off the table.

(Williams, a former commodities trading floor senior executive and Federal Reserve bank examiner, teaches finance at Boston University School of Management.)

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Op donderdag 3 april 2014 12:46 schreef Kale het volgende:
EMO begint ook de goede kant op te gaan zie ik! Ik hodl mijn 120 miljoen geminede EMO's nog maar even.

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Op donderdag 3 april 2014 12:46 schreef MaGNeT het volgende:

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[ afbeelding ]

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Op donderdag 3 april 2014 12:44 schreef MaGNeT het volgende:
http://www.businessinside(...)013-12#ixzz2xop7Fe36

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Ik hoop het

Dan steek ik er zo weer 15.000 Euro in

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Op donderdag 3 april 2014 12:49 schreef ikwiltrolletje het volgende:

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Heb je een TL;DR?

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Op donderdag 3 april 2014 13:01 schreef roislecxe het volgende:
Oh nu zijn ze allemaal wel wakker

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Op donderdag 3 april 2014 12:52 schreef MaGNeT het volgende:

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Gast denkt verstand te hebben van economie en zegt dat de Bitcoin over 3 maand op 10 Dollar staat.

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Op donderdag 3 april 2014 12:49 schreef ikwiltrolletje het volgende:
Niet verder gedaald, jammer

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Op donderdag 3 april 2014 10:42 schreef smiths het volgende:
Ik heb trouwens mijn ECC kunnen verkopen op 4 satoshi. Toch mooi van 0,3btc 0,4 btc gemaakt.
Nu zit ik te twijfelen om weer op 3 te kopen of even de storm af te wachten (alhoewel 3satoshi wel verdomd laag is).

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Op donderdag 3 april 2014 13:30 schreef roislecxe het volgende:

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Waarom is 0,0000003 zo laag dan? Er zijn 17 miljard coins, wat nog oploopt tot 50 miljard.
TOP heeft maar 11 miljard coins en die staat nu al op 0.0000001.

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Op donderdag 3 april 2014 10:39 schreef Nattekat het volgende:

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Hoe gaat het met je ECC?

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Op donderdag 3 april 2014 15:43 schreef roislecxe het volgende:
Ik heb echt medelijden met de mensen die in Noord-Groningen en Noord-Friesland wonen
Nog niet de helft aan temperatuur als hier in het zuiden

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Op donderdag 3 april 2014 15:59 schreef tralalala het volgende:
22.5 graden hier. Balkonnetje op het zuiden en ook een biertje erbij. Kan niet beter

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Op donderdag 3 april 2014 15:58 schreef SosuaCafe het volgende:
Pittig heet hier. Uit de wind in de zon dan. Tuintje op het zuiden, ideaal.
Gezellig met een hertog erbij.

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Op donderdag 3 april 2014 15:59 schreef tralalala het volgende:
22.5 graden hier. Balkonnetje op het zuiden en ook een biertje erbij. Kan niet beter

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Op donderdag 3 april 2014 15:56 schreef MaGNeT het volgende:

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Geen problemen in Fryslân, is hier prima, blauwe lucht en warm:)

SPOILER

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Op donderdag 3 april 2014 16:09 schreef roislecxe het volgende:
Grappig idee trouwens: Vandaag, 3 april, was vorig jaar de laatste dag dat in Noord-Groningen nog op natuurijs kon worden geschaatst

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Op donderdag 3 april 2014 16:12 schreef Mortaxx het volgende:

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Global warming gaat snel open je ogen mensen

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Op donderdag 3 april 2014 16:12 schreef Mortaxx het volgende:

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Global warming gaat snel open je ogen mensen

Randy Marsh - We Didnt Listen

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Op donderdag 3 april 2014 16:17 schreef smiths het volgende:

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Randy Marsh - We Didnt Listen

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Op donderdag 3 april 2014 16:37 schreef Nattekat het volgende:
Had te vroeg verkocht

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Op donderdag 3 april 2014 15:43 schreef roislecxe het volgende:
Nog niet de helft aan temperatuur als hier in het zuiden