Bitcoin plummeting heavy in last 2 hours down to 3700..how low will it go?

It has no real value

I made a thread attempting to explain the current bitcoin price here Thread: For those wondering about Bitcoin Price dropping....

The basic idea is that bitcoin mining has increased by about 500% in the past year. Even more if you go back 24 months.

So what would happen to the price of gold if 5 times as many fully operational gold mines opened in one year?

Last Edited by BohemianExyle on 11/25/2018 01:33 AM

By 2020 Bitcoin will be over 100k.

Way too much institutional infrastructure is being put into place with Bakkt, Fidelity, Mastercard and payment processors all having the vision to see the future. Cryptos will replace the SWIFT system and make it obsolete. This is a revolution that is a cross between when the internet became widely available and when credit cards were first introduced to the public.

Most people don't get what crypto is. It's a much MUCH better system of currency. Instead of using fiat dollars which are created out of thin air at the whim of The Fed and no one has a clue how many are in circulation, every crypto coin is accountable for. Also it's a trustless system of currency that eliminates any need for a middleman to send large quantities for one person to the next. Or one business to the next.

Right now the dollar is worth about 1% of what is was when The Fed was created. With fiat they have been robbing you of your wealth everyday and you don't even realize it through inflation. This is not possible with crypto. The prices are volatile now, but eventually will stabalize when it becomes the main means of exchange. But by then you will have missed the boat.

It IS the future regardless of any price action right now. If you are smart you'll buy up as much as you can now.

Gold reserves are finite, and pulling new gold out of the ground can be very expensive. In fact, it is common to hear industry insiders cite $1,200 as the all-in cost for mining a single ounce of gold.

Gold supply is totally and completely limited by the PHYSICAL quantities of Gold left in the ground, rather than fictitious ceilings on fictitious supplies of data bits on a computer database.

As time goes on, there is less and less gold in the ground. And it becomes harder and harder to put an ounce of gold together. Gold mining is PHYSICALLY restrained by diminishing supply, and cost of mining.

That being said, I don't buy gold.

I'm a silvertard. It's an all around better way to go, for at least a half dozen reasons.

Dude, I was mining gold when I was 5 and bitcoin in 2011. There is plenty of gold out there, the socialist Democrats via the BLM don't want you to know that. Meanwhile they stole 20% of our Uranium! WTF!

Anyways, aliens have been mining gold and dna from our planet for a long ass time. Peace.

And this is newsworthy becuz???

As in any MLM scheme, the first ones in make bank the rest are chasing with scared money

Crypto is the ULTIMATE fiat currency! It can literally become worthless OVERNIGHT, given the right conditions.

Even federal reserve notes don't become worthless overnight.

Crypto currency DOES NOT EXIST, except as little electronic impulses on a computer screen. It only exists as long as enough people BELIEVE it exists.

Telling people to "buy up as much as they can" is REALLY harmful advice. Dumb as dirt.

I love the way that you act as though you are some kind of Crypto Swami, boldly stating (as if it were fact) that Bitcoin will be over 100K in a year.

Who the FUCK really believes that?

Ohh... Here we go... LOL.

Yeah... I think I'll leave it there too.

Peace, indeed... LOL.

Would you prefer the sword?

Oh please, everybody knows the Clintons just use US Dollars, like 90% of the terrorists do, themselves.

Fiat Dollars is used WAYYYYYYYY more than Bitcoin. Bitcoin has a public ledger which makes it easy to see all the transactions and is in no way anonymous.

Cash is cash. Here today, gone tomorrow. Under the radar. *POOF*

Guess you haven’t heard of Venezuela

BTC is like the US dollar in that it is the standard with everything tied to it, so if BTC goes down all the other Cryptocurrencies values go down with it.
An example is Litecoin and Digibyte are worth much more when Bitcoin was $19,000 than at $3,700.

Hard to beat the USD as it`s been the gold standard since the end of World War 2.

ARE YOU RETARDED? Gold standard ended with the Federal reserves inception.

Since WW2 the US dollar has been the king. The USA dollar replaced gold as the gold standard.

As a result of the Bretton Woods Agreement, the U.S dollar was officially crowned the world's reserve currency, backed by the world's largest gold reserves.

[link to www.investopedia.com (secure)]

In 1944, delegates from 44 Allied countries met in Bretton Wood, New Hampshire, to come up with a system to manage foreign exchange that would not put any country at a disadvantage. It was decided that the world’s currencies couldn’t be linked to gold, but they could be linked to the U.S. dollar, which was linked to gold. The arrangement, which came to be known as the Bretton Woods Agreement, established that the central banks would maintain fixed exchange rates between their currencies and the dollar. In turn, the United States would redeem U.S. dollars for gold on demand. Countries had some degree over the currencies in situations where their currency values became too weak or too strong relative to the dollar. They could buy or sell their currency to regulate the money supply.

Standing on Its Own as the World’s Reserve Currency
As a result of the Bretton Woods Agreement, the U.S dollar was officially crowned the world’s reserve currency, backed by the world’s largest gold reserves. Instead of gold reserves, other countries accumulated reserves of U.S. dollars. Needing a place to store their dollars, countries began buying U.S. Treasury securities, which they considered to be a safe store of money.





Last Edited by WE HAVE BEEN LIED TO on 11/25/2018 01:40 PM

They aren't even TRYING to hide it anymore.

Tether just printed another $50,000,000 in FUNNY MONEY and sent it off to Bitfinex.

What do you know, within an HOUR the prices of crypto rise!


[link to twitter.com (secure)]



Muh organic market my ass. You'll know the bear market is over when people (alot of them) are going to prison.

No-one is legitimately buying Crypto, it's ALL fraud!


See you back in triple digits within 6 months.



If you're still HODLING - this is your chance to dump.

Pretty much.

How is there a 100 billion market for this crap?

It's completely useless.