Bitcoin’s crashing!!! Time to buy?

Citibank / Other Slurpsurp
Aug 13, 2018 222 Comments

Low end of the range.

Edit: bitcoin is up almost 10% since this post. Proof that doing the opposite of what the herd does is always profitable. If you follow this logic, and I do, Stock and housing downturn, particularly tech stocks and housing in tech fairyland locales to follow.

Bitcoin’s crashing!!!  Time to buy?
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TOP 222 Comments
  • Microsoft / Eng ShortBTC
    🌷
    Aug 13, 2018 10
    • Microsoft gCXW58
      That's the spirit! You guys understand, please don't buy any. It's so worthless, stupid funny money tulips ponzi scam 😂😂 why would anyone buy any lmfao 🤦‍♂️😂👌🐸
      Aug 14, 2018
    • Indeed knowyrrole
      Behhhhhcunnnnnnnecckkkkkkkkkk
      Aug 14, 2018
    • eBay zaa
      Beanie babies are worthless 😫! No!!!!!!!!
      Aug 23, 2018
    • Microsoft gCXW58
      @ShortBTC how's your position doing 😂
      Sep 1, 2018
    • Microsoft / Eng Capitalism
      If I remember right, he/she posted his/her short positions on here when bitcoin was around 19k. He/she should be doing more than fine.
      Sep 3, 2018
  • Amazon wtf😪🙄
    Bitcoin has been crashing and will continue to bleed until and possibly beyond 1k
    Aug 13, 2018 3
    • New / Product
      nicebot

      New Product

      BIO
      Need leads to PM roles in SF. Thank you!!
      nicebotmore
      Where are you seeing this? The lowest I'm seeing on the chart is 1.4k and that's a very unlikely structure to play out
      Aug 13, 2018
    • Amazon wtf😪🙄
      How the fuck do you see the future on the chart?
      Aug 14, 2018
    • New / Product
      nicebot

      New Product

      BIO
      Need leads to PM roles in SF. Thank you!!
      nicebotmore
      Same thing every other trader does? Decapitate a couple of lambs and throw a dart dipped in their blood on the chart.
      Aug 14, 2018
  • Research Now / Eng Arschloch
    50K by 2020.
    Aug 13, 2018 9
    • Microsoft / Eng ShortBTC
      I am shorting it. Have been shorting it since it was 19.5k.
      Aug 14, 2018
    • Microsoft / Eng ShortBTC
      Full disclosure, I also rode the wave up to 11k
      Aug 14, 2018
    • Sapient Razorfish Ksenia23
      You don't invest in stocks or crypto? Then your prediction is worthless.
      Aug 14, 2018
    • Google DLUm08
      > You don't invest in stocks or crypto? Then your prediction is worthless.

      LMFAO 😂😂😂. Are you actually actually investing in individual stocks/crypto based on what random strangers on the Internet say?
      Aug 14, 2018
    • Sapient Razorfish Ksenia23
      No I'm saying your prediction is worthless and wrong. I'm gladly buying more crypto. You can stick with your index funds. Let's see where we're at in 5 years.
      Aug 14, 2018
  • Symantec O(logN)
    LOL. Aren't you the one spreading FUD about housing crash? And you think BTC has bottomed.
    Aug 13, 2018 9
    • Amazon / Eng onMyWay
      ^^ and that’s coming from a coder, so I’m not sure if the original advice was excellent or not
      Aug 14, 2018
    • Nordstrom / Eng
      udit

      Nordstrom Eng

      PRE
      Google, Cisco
      uditmore
      Smartest anything. LOL
      Aug 14, 2018
    • Nordstrom / Eng
      udit

      Nordstrom Eng

      PRE
      Google, Cisco
      uditmore
      Uses corporate email to sign up for an "anonymous" site, thinks they're the smartest in the world. adviceanimal.gif
      Aug 14, 2018
    • Leanplum HankyPanky
      Nah dude, "alive" is the dude spreading housing market FUD.
      "Slurpsurp" is the guy who keeps posting his 1.6M NW with 17 yoe
      Aug 14, 2018
    • Microsoft XyYh51
      Yea... I bought a bunch of real estate and now seeing massive gains, plus passive income to almost sustain my base salary. Best retirement ever.
      Aug 15, 2018
  • Facebook logical
    It was a scam. Smart people made money and got out at the right time. Now its just some delusional people still hoping for 100k by the end of 😂
    Aug 13, 2018 5
    • Facebook public
      Yea we did!
      Aug 13, 2018
    • Amazon knrg03
      Cheers
      Aug 14, 2018
    • Google IIllllllII
      But the winner is bay area owners I think. IT guys made big money -> bought houses -> land lords are happy
      Aug 14, 2018
    • GPS Insight / Eng
      Phosky

      GPS Insight Eng

      PRE
      GoDaddy, Symantec, HP Inc
      Phoskymore
      I must be one of the stupid ones because I'm still hodling. All but maybe 2% of my coins were mined back when the entire network hash rate was a few hundred GH/s. So while you might say that Bitcoin is "crashing" at $6K, I'd counter with, "repeat what you just said, and listen to yourself"🙂
      Aug 14, 2018
    • Facebook logical
      Well given a bunch of stupid people bought it at >15k thinking it will hit 100k , its falling!
      Aug 14, 2018
  • Oracle 38
    These morons yet to understand it’s a scam.
    Aug 13, 2018 4
    • GPS Insight / Eng
      Phosky

      GPS Insight Eng

      PRE
      GoDaddy, Symantec, HP Inc
      Phoskymore
      Please enlighten us why it's a scam.
      Aug 14, 2018
    • Google DLUm08
      Please enlighten us on why it is a useful technology.
      Aug 14, 2018
    • Ropes & Gray pjkg03
      Push button, receive bacon.
      Aug 14, 2018
    • GPS Insight / Eng
      Phosky

      GPS Insight Eng

      PRE
      GoDaddy, Symantec, HP Inc
      Phoskymore
      @DLUm08 Well, for one, it’s exceedingly judgement resistant. Meaning the entire power of the IRS/FBI/CIA or whatever other 3 letter agency can’t seize or put a lien on your Bitcoin wallet, unlike an analog bank account. They can coerce you to give up your private key through threat of prosecution or bodily harm, but that’s a different paint job entirely. In this day where the government gains more and more power, Bitcoin puts real power back into the 4th Amendment. To some people, that’s *very* valuable.
      Aug 14, 2018
  • Microsoft MMKy42
    Crypto is not an investment. It's a bigger gamble than the stock market.
    Aug 14, 2018 4
    • Google arbiterus0
      Like Enron?
      Aug 14, 2018
    • Microsoft BoxSoft
      Yes and no. Volatile, sure. But if you understand differences in ledgers and Enterprise blockchain requirements, there are some notable projects
      Aug 14, 2018
    • Google DLUm08
      Put all your money on it @arbiterus0
      You can feel free to "tell me so" in a few years
      Aug 14, 2018
    • Thoughtworks yTtq22
      I agree. Still worth risking a little bit of your portfolio based on risk/return ratio.
      Aug 15, 2018
  • Oath silentab
    Target price should be 0
    Aug 13, 2018 0
  • Airbnb NCEd51
    John mcafee said he'd eat his own dick if it doesn't reach $1 million by 2020. A guy of such credibility can't be wrong!
    Aug 14, 2018 1
    • Amazon / Other TGKE78
      Hope he is stupid enough to keep his promise. As 3 IQ people should be stopped at some point as a kind.
      Aug 14, 2018
  • Putnam Investments dafust1864
    This is how I view it from a economics perspective. As a currency, bitcoin is deflationary and the dollar is inflationary. This means that ignoring all other valuation, the price of BTC will increase when compared to USD. When viewing this in the long term, I believe what you will see is a 2-3 year cool off period, where everyone will forget about Bitcoin and the price will drop to a level of 1000 - 3000. At this point, the intrinsic value of bitcoin will start to increase due to the relation I previously described. This will continue until the media catches onto the price increasing and starts the hype circle all over again, except this time, there will be more potential investors because of the previous spike. My advice is wait a good 3-4 months, and if the price is relatively stabilized, buy and hold until the next spike.
    Aug 14, 2018 11
    • Pivotal lfss07
      I agree with @dafust1864 wait until the price is somewhat stable again, at least 3-4 months. This is my third time watching this happen. You will not predict the bottom.
      Aug 14, 2018
    • Putnam Investments dafust1864
      And Visa does the same for USD but you aren’t worried. I draw a lot of comparisons between bitcoin and USD. In the beginning, if someone took your money, it was their money. Only recently, through 100s of years of economic development, and technological advancement, we have developed the “safe” monetary foundation we have today. I think currently we are still in that “Wild West” of Bitcoin/Digital Currency. But given 10-20 years of development and innovation I think we will see a safe environment for digital currency. As time goes on we keep seeing safer and safer environments. Just because bank robbers steal money from banks doesn’t make USD a scam. Additionally, Bitcoin is a currency that isn’t tied to a specific government. What happened to Venezuela/what is happening to Turkey rn could happen to the US. I don’t place my faith in the value of USD because I don’t believe that any one country will stay economically dominant forever.
      Aug 14, 2018
    • Ticketmaster zoopzoop1
      lol @not been manipulated. what are you smoking
      Aug 14, 2018
    • Putnam Investments dafust1864
      Manipulation as in editing the ledger.
      Aug 14, 2018
    • Apple fezzik
      The intrinsic value of the USD is that it’s the only form of payment that everyone in a $20T economy is required to accept and the only form of payment accepted by the government that sets the rules for and collects taxes from said $20T economy.

      The intrinsic value of BTC is ¯\_(ツ)_/¯
      Aug 21, 2018
  • Lero Labs / Mktg
    lyVd32

    Lero Labs Mktg

    BIO
    Marketing
    lyVd32more
    What do you guys think about other crypto currencies?
    Aug 13, 2018 12
    • New / Eng
      road-tree

      New Eng

      PRE
      Epic Systems Corporation
      road-treemore
      > How are those ICOs doing now?

      Many raised six or seven figures worth of initial funding, which is now just starting to show output.

      > The big ones cannot scale

      Yes, the Ethereum network has seen some bursts of popularity in individual projects that slow down the whole network. But I count the fact that they're having those "growing pains" at all is a good thing, showing there is demand and activity there. Multiple scaling solutions are in development, so it shouldn't be a long term problem. Also, the fact that the spikes in traffic are from legitimate traffic (users using real applications), rather than attackers attempting to bring down the network also shows that there's practical interest from end users in actually using the system.
      Aug 14, 2018
    • Google DLUm08
      😂😂😂, that's at all your points because I don't know which one to laugh at most.
      Aug 14, 2018
    • New / Eng
      road-tree

      New Eng

      PRE
      Epic Systems Corporation
      road-treemore
      I gave logical reasons, you're just pointing and laughing. I as a developer have looked under the hood and kicked the tires, and base my assessments on that. What's your basis for scoffing?
      Aug 14, 2018
    • Netflix / Eng Rockstarpt
      Common sense
      Aug 15, 2018
    • DLUm08, why put money into an index fund when I have mutual funds that outpace the market every year?
      Aug 15, 2018
  • Google arbiterus0
    https://youtu.be/XbZ8zDpX2Mg

    Don't buy bitcoin, it's gonna crash!!!
    Aug 14, 2018 3
    • ADP / Mgmt
      Runner131

      ADP Mgmt

      BIO
      I call myself "Damage Control" as I turnaround poor performance of others and get results.
      Runner131more
      Aug 14, 2018
    • Thoughtworks yTtq22
      Speculation. Don't buy US dollars, it's going to crash one day. Don't buy a house, it's going to crash one day. Don't buy stocks, it's going to crash. Don't live in California, it's going to be destroyed one day. And yet we're all here.
      Aug 15, 2018
    • ADP / Mgmt
      Runner131

      ADP Mgmt

      BIO
      I call myself "Damage Control" as I turnaround poor performance of others and get results.
      Runner131more
      I felt the vid I provided showing Hashgraph outperforming blockchain was convincing to me. That and it not being a currency, but rather a repository to hold in hopes it grows in value. Seems to "break" the "rules" of money in a few places.
      Aug 15, 2018
  • Microsoft BoxSoft
    McAfee gonna have to eat his own dick lol
    Aug 14, 2018 1
    • Thoughtworks yTtq22
      LOL his dick is worth gold, so he'll then self market as the guy who poops gold
      Aug 15, 2018
  • Oath
    ysss

    Oath

    PRE
    Google, Amazon, Uber, Airbnb, Facebook
    ysssmore
    Feels bad @coinbase
    Aug 14, 2018 5
    • Google DLUm08
      WTF? Why? I hope they burn. Cryptocurrencies are impractical for almost every application, help spur illegal markets, and are terrible for the environment.

      Per coinbase specifically, their CEO made some of the most BS claims about their new index fund which in reality is without a doubt the worst index fund I've ever seen.
      Aug 14, 2018
    • Oath
      ysss

      Oath

      PRE
      Google, Amazon, Uber, Airbnb, Facebook
      ysssmore
      I was mocking them. I have had terrible experiences with them...not paying bounties on severe bugs claiming they are out of scope, not getting my tax forms after spending hours being told different things by their shitty support. Their index fund is ~-70%, they actually removed the performance graph a few months ago. Initial fees were 2%, now it’s at 1%. It’s funny only 2% of their holdings are insured.
      Aug 14, 2018
    • Google DLUm08
      Ok, we cool then. Yeah, their 2% fee was laughably attrocious for balancing 3 or 4 coins. Vangaurd charges me .04% which is 50 times less and they index on over 100 times as many things.
      Aug 14, 2018
    • Oath
      ysss

      Oath

      PRE
      Google, Amazon, Uber, Airbnb, Facebook
      ysssmore
      They ceo also sent out an email to the employees with a picture of the bitcoin price overtime - implying the next pump will take it >100k. Sad
      Aug 14, 2018
    • Google DLUm08
      Fuck that dude. I hope he gets sued into bankruptcy.
      Aug 14, 2018
  • New / Cust. Srv.
    alekos

    New Cust. Srv.

    BIO
    I help customers get access to cloud infrastructure services
    alekosmore
    I don't think "crashing" is accurate, that would imply there was some stable floor in the first place.
    Aug 14, 2018 1
    • Amazon !JeffBezos
      Reverting to the mean
      Aug 14, 2018
  • short NVIDIA
    Aug 14, 2018 4
    • Amazon nullval
      Dafuq? Short Intel instead.
      Aug 14, 2018
    • NVIDIA chipset supply all those warehouses that just mine only...
      Aug 14, 2018
    • Amazon nullval
      Oh I see.
      Although, all deep-learning explosion is backed by Google Cloud / AWS / Azure, all of which rely on NVIDIA gpus, and are moving to AMD cpus.
      Aug 14, 2018
    • Thoughtworks yTtq22
      Speculation
      Aug 15, 2018
  • Sapient Razorfish Ksenia23
    Where exactly is the crash? $5800 has been the support level for months now.
    Aug 14, 2018 6
    • Sapient Razorfish Ksenia23
      You can't argue with $5800 being a local support line. I drew those lines 6 months ago. The chart followed them. That's all the validation I need.
      Aug 14, 2018
    • IBM
      Wimi83

      IBM

      PRE
      Google, Goldman Sachs
      Wimi83more
      It didn't follow shit. It crossed your 'support levels'. The trick with technical analysis is choosing the right time windows and shape names to support your bullshit stories.
      Aug 14, 2018
    • Sapient Razorfish Ksenia23
      I draw with reasonable confidence where bitcoin actually went in a 6 month period wavering by 5% max. Even if it is coincidence, my main point isn't wrong. The support line is $5800. It has not gone below that. Until it does, I don't suspect it will. You don't have to agree.
      Aug 14, 2018
    • Proofpoint / Other gaaandu
      It looks like a double hammer reverse death cross.🤔
      Aug 15, 2018
    • Sapient Razorfish Ksenia23
      What do you know. It bounced off support and just "crashed" upwards 10%. Must be a scam.
      Aug 15, 2018
  • Citibank / Other Slurpsurp
    OP
    Edit: bitcoin is up almost 10% since this post. Proof that doing the opposite of what the herd does is always profitable. If you follow this logic, and I do, Stock and housing downturn, particularly tech stocks and housing in tech fairyland locales to follow.
    Aug 15, 2018 7
    • Microsoft o730
      It's a biased/loaded question for a poll and I didn't vote. Bitcoin is worthless long term. There will be a handful of successful public chains. The rest of the benefits of blockchain will be realized in private chains.
      Aug 15, 2018
    • Citibank / Other Slurpsurp
      OP
      I don’t work for Gallup.
      Aug 15, 2018
    • Microsoft o730
      ¯\_(ツ)_/¯ just remember only a handful survived the dot com bubble
      Aug 15, 2018
    • Google memegen1
      It usually works except in rare cases like Lehman it Enron. Bitcoin seems like a scam similar to Enron, so you have been warned
      Aug 16, 2018
    • Google arbiterus0
      Bitcoin has nothing to hide, unlike any fiat currency
      Aug 16, 2018
  • Uber foolius
    It's a scam. Like most scams some people made and will make money. But most will lose
    Aug 14, 2018 1
    • Sapient Razorfish Ksenia23
      How is it a scam?
      Aug 14, 2018
  • Microsoft Bludgeon
    After 10 years, there’s nothing that really compares to bitcoin. It’s just a matter of time until the next quantitative easing for the rocket to take off again.
    Aug 14, 2018 0

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