Bitcoins are officially donkdown

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01-16-2018, 04:14 AM
RS_

My portfolio is only down 25% in the last 24 hours and almost 40% from ATH. Damn this shit volatile. Yolo.
01-16-2018, 06:11 AM
SetofKs

Quote:

Originally Posted by MrTickle

Quote:

Originally Posted by Dan Druff

Breached 12k again.

This has happened before in crashes in our post-15k bitcoin world, but never below 11k.

If it crashes below 11, then we're in unchartered territory.

There might be some resistance at the below-10k mark, as I imagine people will be buying at that point, seeing the first opportunity to get sub-10k bitcoin in awhile.

The altcoins are also crashing.

This is why people thinking, "I know bitcoin will crash, but I've moved to altcoins, so my money is safe" is so fallacious.

Altcoins always crash when bitcoin does. Bitcoin sneezes and altcoins have a heart attack.

Yah if there were really people who were thinking that, they are n00bs and are going to get rekt
01-16-2018, 06:15 AM
SetofKs

Quote:

Originally Posted by SetofKs

Quote:

Originally Posted by MrTickle

Altcoins always crash when bitcoin does. Bitcoin sneezes and altcoins have a heart attack.

Yah if there were really people who were thinking that, they are n00bs and are going to get rekt

Bitcoin moons- alts crash
Bitcoin crashes- alts crash
Bitcoin doesn't move for a while- alts moon
01-16-2018, 06:26 AM
SetofKs

BNB was at its ATH $25 4 days ago. Earlier today it was at $16. In 2 hours it went from $16 to $9.50. Then in 30 minutes it went from $9.50 to $13.50. Now its back to $15.50. Gambling on these coins is so much fun.
01-16-2018, 07:06 AM
Krypt

Relentless bloodbath here
01-16-2018, 08:06 AM
OSA

Switched all ripple in which I made like 10% return, into NEO @ 120, after educating you ppl since it was @ 45. Cashed out @ 182. Gonna ride out this stream of red and wait for a new horse
01-16-2018, 09:15 AM
SetofKs

Quote:

Originally Posted by OSA

Switched all ripple in which I made like 10% return, into NEO @ 120, after educating you ppl since it was @ 45. Cashed out @ 182. Gonna ride out this stream of red and wait for a new horse

Consider BNB. Its a good coin, I think, and its down 15% in the last 24 hours. I turned my whole shit coin roll into BNB for the time being.
01-16-2018, 10:08 AM
Sanlmar

NY Times

Quote:

On Reddit, the online forum visited by many Bitcoin followers, people posted phone numbers for suicide hotlines for bereft investors.

Fortune 12-12-17
$17,000

Quote:

Some Bitcoin Investors Are Mortgaging Their Homes to Buy More Digital Currency
01-16-2018, 10:20 AM
sonatine

11k.

https://i.imgur.com/ZOB9YMN.png
01-16-2018, 10:27 AM
sonatine

so i guess quirky numbers really arent worth anything at all as a commodity.

https://i.imgur.com/TMjrDAi.gif
01-16-2018, 10:31 AM
Sanlmar

Is it possible the clearinghouses for bitcoin futures could get crushed and left holding the bag on accounts that had insufficient margin.

I know they were asking for like 30-40% but that’s where we are now in terms of correction from the high

What happens is the clearinghouses then cover their exposure by going short themselves in the market causing even more selling.

That’s how market collapses happen

I’m just a ray of sunshine. This is serious shit
01-16-2018, 10:32 AM
sonatine

Quote:

Originally Posted by GringoStar

Sanlmar...

Bitcoin is not fake money or a digital collectible. It is also slowly being adopted by many legitimate marketplaces and now has public ATMs in many major cities.

Crytocurrencies are not some dream of the future, they are already a real currency. Also, most USD nowadays are technically a type of crytocurrency, as they aren't even backed by cash and they are encrypted (and are insured by banks) which really gives the little numbers in your checking account any value.

Don't get left in the past.

https://i.imgur.com/Zp0nKkg.gif
01-16-2018, 10:34 AM
monsterj

Quote:

Originally Posted by Sanlmar

Is it possible the clearinghouses for bitcoin futures could get crushed and left holding the bag on accounts that had insufficient margin.

I know they were asking for like 30-40% but that’s where we are now in terms of correction from the high

What happens is the clearinghouses then cover their exposure by going short themselves in the market causing even more selling.

That’s how market collapses happen

I’m just a ray of sunshine. This is serious shit

That's an interesting question. The firm I worked at nearly went bankrupt when MF Global(our clearinghouse) went belly up. The losses were staggering $40+M, and small trading firms rarely had that type of capital laying around, luckily our partners had emergency funds and kept us afloat.

Back to your point, I'll reach out to some people to see if they know anything about the CBOE futures exchanges, I personally don't know anyone trading them yet, but I am sure that has changed in the past month or two.
01-16-2018, 10:35 AM
sonatine

Quote:

Originally Posted by Sanlmar

Is it possible the clearinghouses for bitcoin futures could get crushed and left holding the bag on accounts that had insufficient margin.

I know they were asking for like 30-40% but that’s where we are now in terms of correction from the high

What happens is the clearinghouses then cover their exposure by going short themselves in the market causing even more selling.

That’s how market collapses happen

I’m just a ray of sunshine. This is serious shit

my understanding is that most of those btc funds that everyone was talking about did that shit where they ran up to the very edge of the pool then were like 'lol nah' and never actually jumped in?

which is to say, im unaware of many instances where those clearinghouses actually invested because the village elders said as if with one voice 'get the fuck out of here this shit is a joke'.

im sure there will be some who decided the benefit of a first to market position outweighed the potential exposure but really, i got the impression there just werent many and none of them were major players.

again tho not my area of expertise/attention.
01-16-2018, 10:38 AM
snake_in_the_ass

Quote:

Originally Posted by snake_in_the_ass

Quote:

Originally Posted by sonatine

its totally possible that we're not at a tipping point yet, and that the majority of current 'investors' pouring money in would barely understand what you were talking about.

i honestly think it can hit 60k once the smoke clears in january.

i also think there will be suicides when china sets the hook.

Oh god, if sonatine thinks it is going to 60k it is probably time to be cautious.

Thank you Sonatine for saving me a lot of money.
01-16-2018, 10:45 AM
monsterj

Based on this:

http://cfe.cboe.com/cfe-products/xbt...itcoin-futures

Doesn't look like anyone is trading these products. So, very little risk IMO.
01-16-2018, 10:50 AM
Sanlmar

The clearinghouse is the party that settles the contracts. They don’t take positions themselves unless you fuck them up.

I flirted with checking BTC futures out for lulz and I recall they wanted me to post say 35% of actual bitcoin. If my losses approach that they shut me down and take my btc. The clearinghouse suffers no loss.

But shit happens and can happen fast where you and they get buried. Then they enter the market to protect against further losses.

I remember SiriusSrsly claiming futures had no affect on price months ago. I didn’t bother to respond.

These thoughts trigger unpleasant memories of getting margin called myself. I scalp small moves but with high margin in a day trading fashion. Once you fuck up and get called your margin is suspended and you can’t trade.

You’re out of action waiting for your timeout to expire. This has happened after a loss so you are all twitchy to get back in the game. Mental torture and frustration which leads to drinking.
01-16-2018, 11:00 AM
Sanlmar

Quote:

Originally Posted by monsterj

Based on this:

http://cfe.cboe.com/cfe-products/xbt...itcoin-futures

Doesn't look like anyone is trading these products. So, very little risk IMO.

Yeah, I know.

I’m just having some doomsday fun. The scenario is fun to consider, yes?

Monsterj, any withdrawal symptoms? Do you miss the game?
01-16-2018, 11:10 AM
sonatine

1 Attachment(s)

https://www.youtube.com/watch?v=aRo982JQeiE

http://media0.giphy.com/media/11IA1G8frCKRAA/source.gif
01-16-2018, 11:15 AM
Dan Druff

https://tctechcrunch2011.files.wordp...if?w=500&h=500
01-16-2018, 11:28 AM
SetofKs

STAY STRONG FELLOW COIN JOCKS! IRON HANDS!
01-16-2018, 11:32 AM
BlunderMaker

lol at these young dudes who fancy themselves crypto investors begin suicidal over a 30% dip
maybe gambling aint your game my dudes
01-16-2018, 11:33 AM
Sanlmar

Quote:

Originally Posted by SetofKs

STAY STRONG FELLOW COIN JOCKS! IRON HANDS!

775-372-8355

Just in case
01-16-2018, 11:47 AM
snake_in_the_ass

When Sonatine said Bitcoin was going to $60,000 that was a sell signal. Now he is jerking off in his thread, that is a buy signal. Buying BTC again and some of the shitcoins.
01-16-2018, 11:48 AM
Dan Druff

I'll tell you what isn't a very good look for bitcoin right now.

In recent crashes, we've seen a precipitous fall, followed by a quick recovery.

That is, when the value would go back up, it would go WAY up, and fast.

This crash has featured a few anemic recoveries, but none ever seen to rise back beyond $500 or so before falling again.

When it crashed to like $11900 yesterday and then "recovered" to a whopping $12400, before starting to level off, I had a feeling another drop was around the corner.

Right now we are experiencing one of those micro-recoveries, from 11100 to 11400.

Now it's kinda stalling, and I wouldn't be surprised if we're below 10k before the end of the day.
01-16-2018, 11:49 AM
sonatine

definitely buy. with your money.

right now.

:lol2
01-16-2018, 11:49 AM
snake_in_the_ass

Quote:

Originally Posted by snake_in_the_ass

When Sonatine said Bitcoin was going to $60,000 that was a sell signal. Now he is jerking off in his thread, that is a buy signal. Buying BTC again and some of the shitcoins.

Buying ICX, EVX, KNC on binance.
01-16-2018, 11:50 AM
snake_in_the_ass

Quote:

Originally Posted by sonatine

definitely buy. with your money.

right now.

:lol2

I am. But not HODLing. Gonna flip em after a nice pop.
01-16-2018, 11:59 AM
Sanlmar

Quote:

Originally Posted by snake_in_the_ass

Quote:

Originally Posted by snake_in_the_ass

When Sonatine said Bitcoin was going to $60,000 that was a sell signal. Now he is jerking off in his thread, that is a buy signal. Buying BTC again and some of the shitcoins.

Buying ICX, EVX, KNC on binance.

Is this really that puke inducing inflection point?

Looks like you only just now fell out of consolidation. There ought to be more.

I haven’t had CNBC on but Cramer and those nitwits would prolly be as good a contrary indicator as any.

What’s the volume lately at your ATM’s? You have a pretty good indicator right there.
01-16-2018, 12:03 PM
SetofKs

Quote:

Originally Posted by snake_in_the_ass

Quote:

Originally Posted by sonatine

definitely buy. with your money.

right now.

:lol2

I am. But not HODLing. Gonna flip em after a nice pop.

Whats the best way to buy BTC instantly with low fee?
01-16-2018, 12:05 PM
sonatine

Quote:

Originally Posted by SetofKs

Quote:

Originally Posted by snake_in_the_ass

I am. But not HODLing. Gonna flip em after a nice pop.

Whats the best way to buy BTC instantly with low fee?

sell drugs on darknet.
01-16-2018, 12:08 PM
SetofKs

Quote:

Originally Posted by sonatine

Quote:

Originally Posted by SetofKs

Whats the best way to buy BTC instantly with low fee?

sell drugs on darknet.

Heh, only time I buy em is when I win on those illegal online gambling sites. Theres gotta be a legal way to do it though thats better than coinbase.
01-16-2018, 12:10 PM
snake_in_the_ass

Quote:

Originally Posted by Sanlmar

Quote:

Originally Posted by snake_in_the_ass

Buying ICX, EVX, KNC on binance.

Is this really that puke inducing inflection point?

Looks like you only just now fell out of consolidation. There ought to be more.

I haven’t had CNBC on but Cramer and those nitwits would prolly be as good a contrary indicator as any.

What’s the volume lately at your ATM’s? You have a pretty good indicator right there.

Went from unbelievable demand to ice cold overnight.
01-16-2018, 12:27 PM
OSA

Sooooooo as I understand it, NOW is the time everyone should be reupping?
01-16-2018, 12:29 PM
sonatine

oh definitely.

https://www.coindesk.com/pboc-offici...rading-report/
01-16-2018, 12:30 PM
JACKDANIELS

Bitcoins are officially donkdown so you probably shouldnt buy them
01-16-2018, 12:36 PM
sonatine

Quote:

Originally Posted by JACKDANIELS

Bitcoins are officially donkdown so you probably shouldnt buy them

Source?
01-16-2018, 12:37 PM
SetofKs

Quote:

Originally Posted by OSA

Sooooooo as I understand it, NOW is the time everyone should be reupping?

FUCK YES! I know you have a big ole dick. Great time to get in if you got big ole balls too.
01-16-2018, 12:37 PM
JACKDANIELS

Quote:

Originally Posted by sonatine

Quote:

Originally Posted by JACKDANIELS

Bitcoins are officially donkdown so you probably shouldnt buy them

Source?

http://gawker.com/feds-seize-assets-...ange-506790294
01-16-2018, 12:45 PM
sonatine

Quote:

Originally Posted by JACKDANIELS

Quote:

Originally Posted by sonatine

Source?

http://gawker.com/feds-seize-assets-...ange-506790294

Every time I see your avatar I'm like FUCK YEAH MAPLE SYRUP and then I realize how sad the truth is.

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