Cryptocurrencies

[errolanderson]

Cryptocurrency bull market just went 'pooofffff" . . . Bitcoin down nearly 25% today.

No one seems to know what happened?

[farmaholic]

Cryptocurrency bull market just went 'pooofffff" . . . Bitcoin down nearly 25% today.

No one seems to know what happened?

........someone taking too much "poooffffit"?

[farming101]

Yes profit taking. Bitcoin is tied to other currencies. When there is enough enticement there will be selling.
It was also overleveraged and costs to fund had got a bit high.
Technical too....
Moves above the upper bound line

[errolanderson]

Bitcoin’s market value is calculated by multiplying the total number of bitcoins in circulation by the price.

According to CoinDesk, Bitcoin's value now stands at $315.3 billion, down from $355.9 billion on Tuesday.

[Rareearth]

The crypto’s still have a problem, social acceptance by the general public, and trust.
How can anyone buy, use or trust any valuation?

Digital currency, Apple Pay, venmo, etc is socially accepted, and used in everyday transactions. The belief of off grid, untraceable, move away from dollar stand isn’t realistic, Govt just won’t let it happen.

[agstar77]

In the end they will be destroyed by governments. Digital currency is coming. Bitcoin is worthless if no one accepts it or government won't accept it. The only ones using it will be criminals.

[farmaholic]

Crypto currencies remind me of the Ostrich, Wild Boar, and Elk and Pigeon farming ventures.

First people in do ok based on selling percieved value to other people. Almost a multi level marketing type thing.

But like most of my conspiracy theories, I am probably wrong again.

[shtferbrains]

How can bitcoin go mainstream if you take it for payment ant the next day you are out
25%.
Sounds like speculator appeal only.

[MBgrower]

Crypto currencies remind me of the Ostrich, Wild Boar, and Elk and Pigeon farming ventures.

First people in do ok based on selling percieved value to other people. Almost a multi level marketing type thing.

But like most of my conspiracy theories, I am probably wrong again.

Gerry must hold lots of bitcoin stocks?

[the big wheel]

In the end they will be destroyed by governments. Digital currency is coming. Bitcoin is worthless if no one accepts it or government won't accept it. The only ones using it will be criminals.

Is that why banks use it? Lol.
Xrp is quite widely used by banks.
Someone explain to me exactly what digital is compared to what we have now? I online bank use my tap card to pay at the checkout what is different about digital? I know I m obviously slow. But aren’t we already digital?