Cryptocurrency

[Jog On]

50% + correction coming. Buckle up.


Bitcoin Pizza Day – ’60 Minutes’ Magazine Interviews Man Who Spent 10000 Bitcoin for Pizza in 2010

Such volatile...

 

[scooterscot]

Today I be like

 

[scooterscot]

Sorry, my bad

Bitstamp opens up about Bitcoin [BTC] crash; exchange begins investigation into case

Bitcoin [BTC], the largest cryptocurrency by market cap, a massive crash in the market, earlier today. The coin that gained over $2000 within a few days, lost over $1500 under two hours. This plunge also resulted in the liquidation of over $207 million worth of long positions on BitMEX, Bitcoin Mercantile Exchange.

This, in turn, resulted in the majority of the market discussing the reason behind the crash, with some throwing the blame on Bitstamp. Following this, the exchange also released an official statement on the events.

Silly speculators.


Bitstamp says
A large sell order was executed on our BTC/USD pair today, strongly impacting the order book. Our system behaved as designed, processing and fulfilling the client’s order as it was received.

 

[AtW]

Only 200 mln have such big effect? This fake market got no depth

 

[Lance]

Only 200 mln have such big effect? This fake market got no depth

£19M traded on Bittrex in the last 24 hours. It isn't a big market.
When they talk about the market capitalisation, they forget that half of all Bitcoins are owned by Satoshi (who not be alive any more). And a huge volume of the rest is in wallets where the key or password has been lost.

And the FBI have a lot as well.

I don't know how many coins are actually viable but I'd be amazed if it was any more than 25% of them. I guess someone who understands the blockchain better could work out how many of the coins have been traded in the last 5 years.

 

[AtW]

£19M traded on Bittrex in the last 24 hours. It isn't a big market.

Today's High / Low: $ 28.37 / $ 27.2699
Share Volume: 67,330,064
50 Day Avg. Daily Volume: 70,940,521

https://www.nasdaq.com/symbol/amd

AMD's yesterdays trading volume appears to be in range of 2 bln USD, and that's just one company.

 

[AtW]

I don't know how many coins are actually viable but I'd be amazed if it was any more than 25% of them. I guess someone who understands the blockchain better could work out how many of the coins have been traded in the last 5 years.

You won't see the complete picture because in this fraudulent scheme people transfer their tulipcoins to "exchange" and then trade virtual tulips within exchange itself.

 

[Lance]

You won't see the complete picture because in this fraudulent scheme people transfer their tulipcoins to "exchange" and then trade virtual tulips within exchange itself.

One reason I'm extracting mine from the exchanges is there is no transparency about what you catually have.
For all I know they might be leveraging them 20 times and hoping noone draws the cash.

I'd prefer keeping them in my own wallet, but the transfer rates are enormous, and the trading value between BTC and Fiat are also terrible.

It's been a fun ride. I've made a few grand, but I'm out.

 

[scooterscot]

It's been a fun ride. I've made a few grand, but I'm out.

What do you mean, out? Out into Fiat no BTC?

 

[Lance]

What do you mean, out? Out into Fiat no BTC?

Fiat.