Bitcoin on special tonight

r.g.nixon, Feb 1, 11:18pm
Anyone game enough to buy?

ross1970, Feb 1, 11:34pm
Soon they'll be 60% off at Briscoes


r.g.nixon, Feb 1, 11:45pm
No. It seems everyone is selling. Might bottom out in the next day or so.

henry284, Feb 2, 12:44am
This happens just about every year around this time, has a lot to do with the Chinese new year.

Everyone panic selling is driving the price down further, an excellent time to buy/HODL.

ryanm2, Feb 2, 5:22pm
Yup, happens every January. I will buy some more in the coming days.

demonknight, Feb 2, 6:50pm
Except it's not January anymore.

henry284, Feb 2, 7:12pm
Look at the history tho
https://i.imgur.com/Q0qbQ6Z.png

demonknight, Feb 2, 7:40pm
I think this year will be different because crypto has now entered mainstream consciousness. I'm bearish on Bitcoin even if they get Lightning up and running bug-free. That is not going to happen anytime soon.

black-heart, Feb 2, 10:10pm
lol it has no future.

intrade, Feb 2, 10:11pm
agree with 10 first of all its way overpriced , secoundly it has no value might as well invest in monopoly money .

demonknight, Feb 3, 8:54am
Every currency has whatever value that people believe it has. Fiat is no more real than monopoly money or a sack of marbles.

black-heart, Feb 3, 9:08am
a currency without stability is fairly useless as a currency, great for gamblers

king1, Feb 3, 9:32am
Fiat currency has had centuries to stabilize and for people to have trust in its value, and it is not necessarily stable.

king1, Feb 3, 9:33am
and the argument about it having no value does wash with me, they made a market out of carbon emissions for the emissions trading scheme, something that literally has no real value other than what the market places upon it. I see no difference
Basically if something is measurable it can be turned into a market,

black-heart, Feb 3, 10:11am
fiat currency was never as unstable as bitcoin.

echoriath, Feb 3, 10:25am
It's impossible to derive much meaning from something that only has several years of any kind of meaningful trading history, i.e., bitcoin. Yes, fiat currencies are largely faith-based, but because they are representative of a given countries economy, their strength will be protected and controlled (with varying degrees of success) by those governments. The faith of the users of those currencies also bolsters them in a way that cryptocurrencies cannot count on.

I'm not saying they're altogether worthless. Hell, only about five to ten percent of money globally is actually represented by physical cash. The rest of it is already digital, but there is no regulatory framework for cryptocurrencies, which opens the door to wild and dangerous manipulation of their values.

echoriath, Feb 3, 10:27am
Zimbabwe and post-WWI Germany are good examples of highly unstable fiat currencies that would give bitcoin a run for its money. Pun intended.

tmg, Feb 3, 11:02pm
Try Venezuala now for a volatile inflation ridden currency

black-heart, Feb 7, 8:18pm
Yeah I guess thats a good comparison. I don't see droves of people wanting to trade in those currencies though.

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