Bitcoins are officially donkdown

[Dan Druff]

big dick: Regarding your bet proposed earlier (I didn't see it in time)...

I would like to revise terms, so we can prevent one of us from losing due to a temporary crash or pop.

First off, I want to change the 2k to 3k, because a fall to 2k is a lot tougher (it's cutting value by 2/3) than a rise to 10k (not even doubling value).

We are betting whether bitcoin will hit 3k or 10k first. However, for the bet to be considered valid, it needs to spend at least 36 straight hours either over 10k or under 3k.

Furthermore:

- You will post the money with me in advance, or a trusted third party if you don't want to do it with me

- The bet will end at 11:59:59pm PDT on May 31, if it hasn't reached 3k or 10k in the above stated fashion (36 hours straight)

- If May 31 ends with bitcoin either above 10k or below 3k (but not for 36 straight hours yet), the bet will extend another 7 days. After those 7 days, if again it is above 10k or under 3k, it will be another 7 days, and so on.

- Value will be determined by coindesk.com

Let me know if you accept, and then we will discuss the $ amount to bet.

Also, either of us can demand a change of terms (or abandon the bet completely) until the money is posted, due to the volatility of bitcoin.

[chinamaniac]

This one really has the look of a march down toward early 2017 levels.

Again, if anyone thinks I am full of crap, let's set up some kind of structured bet where we set terms of how much we win/lose based upon its value on June 1. I think it will be fun.

Well a year ago today would be $1075 according to coinmarketcap and I believe it was around $800 to start the year.

So will you book bets that it will fall below $1000 by June 1st 2018?

Any interest in this one?

[Dan Druff]

Well a year ago today would be $1075 according to coinmarketcap and I believe it was around $800 to start the year.

So will you book bets that it will fall below $1000 by June 1st 2018?

Any interest in this one?

Would I book at 1:1?

No.

That's banking on a 6:1 reduction in value, and at some point we are going to see people buying back in once they believe that the hype price has been corrected.

Less than 5 months ago, the price of a bitcoin was $3k.

Then it took off, and 3.5 months later, it was at 19400. Now, about 7 weeks alter, we are sitting at 6k.

So it's been a very volatile 4+ months, but I think things might slow down once it gets around 3k.

Right now we are in a weird no-man's land where the price didn't remain for very long the first time (it went up quickly past it), so nobody has much of a "memory" of a $6k price point.

It's not going to stabilize here. It's either to pop back up, or continue its trudge downward, but things might change once we hit more familiar territory (either higher or lower).

[MumblesBadly]

DOW is 30 names.... people need to chill the fuck out.

I was just using that as a refencence to Wall Street.. but I feel ya

Wait a minute, San. 30 is only 30. Handibanker has a point here.



It *looks* scary, but really. No sweat, right? There are many more stocks out there than the measly 30 in the Dow...





Uhhh... What exactly was his point about it only being 30 names?

[snake_in_the_ass]

I was just using that as a refencence to Wall Street.. but I feel ya

Wait a minute, San. 30 is only 30. Handibanker has a point here.



It *looks* scary, but really. No sweat, right? There are many more stocks out there than the measly 30 in the Dow...





Uhhh... What exactly was his point about it only being 30 names?

Handibanker is upset because he loaded up on financial stocks last week and got crushed.

[big dick]

big dick: Regarding your bet proposed earlier (I didn't see it in time)...

I would like to revise terms, so we can prevent one of us from losing due to a temporary crash or pop.

First off, I want to change the 2k to 3k, because a fall to 2k is a lot tougher (it's cutting value by 2/3) than a rise to 10k (not even doubling value).

We are betting whether bitcoin will hit 3k or 10k first. However, for the bet to be considered valid, it needs to spend at least 36 straight hours either over 10k or under 3k.

Furthermore:

- You will post the money with me in advance, or a trusted third party if you don't want to do it with me

- The bet will end at 11:59:59pm PDT on May 31, if it hasn't reached 3k or 10k in the above stated fashion (36 hours straight)

- If May 31 ends with bitcoin either above 10k or below 3k (but not for 36 straight hours yet), the bet will extend another 7 days. After those 7 days, if again it is above 10k or under 3k, it will be another 7 days, and so on.

- Value will be determined by coindesk.com

Let me know if you accept, and then we will discuss the $ amount to bet.

Also, either of us can demand a change of terms (or abandon the bet completely) until the money is posted, due to the volatility of bitcoin.

fuck off

[big dick]

how bout 3k 9k?


Imagine how pissed druff would be if he didn't make money off of bitcoin AND lost a bitcoin bet? So a net loser on bitcoin oh man he might never have a solid nights sleep ever again if that were to happen

[Dan Druff]

how bout 3k 9k?


Imagine how pissed druff would be if he didn't make money off of bitcoin AND lost a bitcoin bet? So a net loser on bitcoin oh man he might never have a solid nights sleep ever again if that were to happen

3k/9k?



It was just 9k like two days ago, despite all the crashing going on.

[handicapme]

Wait a minute, San. 30 is only 30. Handibanker has a point here.



It *looks* scary, but really. No sweat, right? There are many more stocks out there than the measly 30 in the Dow...





Uhhh... What exactly was his point about it only being 30 names?

Handibanker is upset because he loaded up on financial stocks last week and got crushed.

Oh, so we're taking peak to close?! Cute, but fake news... Also underperformance of sectors matter between a diverse pool of assets and a non diverse pool. But please continue to post more snapshots from the cabin of your truck. You totally got me.... but not really.

[Salty_Aus]

Bah, you'll never agree on a bet

[handicapme]

Crypto up like 20%...

[Sheesfaced]

Crypto up like 20%...

Possible dead Mittens bounce?

[simpdog]

Crypto up like 20%...

Possible dead Mittens bounce?

You may get sued for that

[sonatine]

6k automated buy bounce. curiously the amount it bounces at these emotional breakpoints has remained consistent. im sure we will be circling the drain again by nightfall.

[abrown83]

6k automated buy bounce. curiously the amount it bounces at these emotional breakpoints has remained consistent. im sure we will be circling the drain again by nightfall.

Bubbles generally see a 95-98% reduction in price.

That would put Bitcoin between $395.66 - $989.15.

I would guess we will be there sometime within the year, today's pop is because they think the American government is going to come out in strong support to protect cyrpto. I think they are going to post a more wait and see message, but we will see what they say.

Also how many Bitcoin suicides are there going to be? Since basically this entire run up was fueled by large credit card balances.

[reggiman]

big dick: Regarding your bet proposed earlier (I didn't see it in time)...

I would like to revise terms, so we can prevent one of us from losing due to a temporary crash or pop.

First off, I want to change the 2k to 3k, because a fall to 2k is a lot tougher (it's cutting value by 2/3) than a rise to 10k (not even doubling value).

We are betting whether bitcoin will hit 3k or 10k first. However, for the bet to be considered valid, it needs to spend at least 36 straight hours either over 10k or under 3k.

Furthermore:

- You will post the money with me in advance, or a trusted third party if you don't want to do it with me

- The bet will end at 11:59:59pm PDT on May 31, if it hasn't reached 3k or 10k in the above stated fashion (36 hours straight)

- If May 31 ends with bitcoin either above 10k or below 3k (but not for 36 straight hours yet), the bet will extend another 7 days. After those 7 days, if again it is above 10k or under 3k, it will be another 7 days, and so on.

- Value will be determined by coindesk.com

Let me know if you accept, and then we will discuss the $ amount to bet.

Also, either of us can demand a change of terms (or abandon the bet completely) until the money is posted, due to the volatility of bitcoin.

I'll take this bet for as much as you'd like.

[sonatine]

6k automated buy bounce. curiously the amount it bounces at these emotional breakpoints has remained consistent. im sure we will be circling the drain again by nightfall.

Bubbles generally see a 95-98% reduction in price.

That would put Bitcoin between $395.66 - $989.15.

I would guess we will be there sometime within the year, today's pop is because they think the American government is going to come out in strong support to protect cyrpto. I think they are going to post a more wait and see message, but we will see what they say.

Also how many Bitcoin suicides are there going to be? Since basically this entire run up was fueled by large credit card balances.

its funny because the fbi is against strong cryptography so the trump administration might choose to endorse it just to keep people distracted. and given that cryptocoin and cryptography share a common abbreviation (crypto), who knows what signals that convo will send.

what i do know is that china is the bloody spear tip in the war against bitcoin at the moment, and that they chose the day of the single biggest 24 hour bloodbath in US economic history to announce tariffs against america's sorghum exports. if the trump admin decides to simply position itself as an adversary to the fbi stance on 'crypto', they also are basically telling china to go ahead and eviscerate the single strongest element in trump's core; farmers.

so this should be interesting.



suicides are a mortal lock.

every bitcoin that got sold between 19.5 and now, someone bought. and even if 20% of those purchases were by FOMO casuals who bought into the hype about cryptocoins being the new 401k, we can expect tent cities of bit-victims under every overpass in the nation.

and given the US banks announcing as if with one voice that they will no longer allow their customers to go into debt to purchase cryptocoins, we can safely assume that 20% is a laughably conservative estimate.

[snake_in_the_ass]

6k automated buy bounce. curiously the amount it bounces at these emotional breakpoints has remained consistent. im sure we will be circling the drain again by nightfall.

Guy who said it was donkdown at $250 is now a Bitcoin trading expert.

[BetCheckBet]

Was speaking to my buddy last night who turned 7k into 250k. Turns out he got into Bitcoin when it was at 3k. But most of his money came from pump and dumps and on the alternative coins. Some of his returns were over 100x. And yes one of the coins he made money on was doge...

[sonatine]

Was speaking to my buddy last night who turned 7k into 250k. Turns out he got into Bitcoin when it was at 3k. But most of his money came from pump and dumps and on the alternative coins. Some of his returns were over 100x. And yes one of the coins he made money on was doge...