Bitcoin about to Pop

[pErvinalia]

[Scot Dutchy]

More scam:

Floyd Mayweather and DJ Khaled pay SEC cryptocurrency penalties

Boxer Floyd Mayweather Jr and music producer DJ Khaled will pay thousands of dollars to settle charges that they violated US financial laws.

The two cases are the first the SEC has brought over touting violations involving initial coin offerings or ICOs, a relatively new investment vehicle associated with crypto-currencies.

An ICO allows people to invest in a company by buying "tokens" or "coins" that it issues.

Despite the new language, the SEC has warned investors that it views many of the offerings as investments governed by existing securities laws.

[rainbow]

A friend of mine uses a homeopathic dentist. I have NO fucking idea how that's supposed to work.

It sucks?

[rainbow]

That's nice, but I was responding to his claim that the con was over - i.e. everyone knows it's a con. If everyone knows it's a con, then it should be dead pretty soon (like all the actual cryptocurrency cons - which you guys probably don't know about, given how you have no problem discussing a subject you clearly are ignorant of).

Very often cons do not start out as cons.
The original idea of a crypto-currency was not necessarily set up to con people. However when the tricksters discovered that they could make a quick buck out of the gullible, then it all changed.
There are people such as my SIL and his nerdy friends who invested more money than they could afford, and are quietly hoping it will recover. While they are still there, a market will exist for buying in dips and selling on rallies. Going to zero value will take some time, but in reality the party is over. There are just a few punch drunk stragglers.

[Scot Dutchy]

Yep it is hovering on $4000 and not going anywhere fast. There are plenty like your SIL. Got in and cant get out. Waiting for the next mug to come along.

[rainbow]

Fewer mugs, I'm afraid.

[Scot Dutchy]

That is the problem and that many forget. There is not an endless supply of them.

[rainbow]

That is the problem and that many forget. There is not an endless supply of them.

[Scot Dutchy]

Expensive enough. Nice mug which is why I avoid Amsterdam like the plague.

[Jason]

Dipped another $200 today... disaster or opportunity?

[Scot Dutchy]

Dipped another $200 today... disaster or opportunity?

A massive risk IMHO. I would not touch with a barge pole.

[Hermit]

Dipped another $200 today... disaster or opportunity?

Still closed higher than six days ago. I look at it as a micro dead cat bounce. Look at this chart after clicking on "All". The drop is only barely detectable.

[rainbow]

Dipped another $200 today... disaster or opportunity?

Still closed higher than six days ago. I look at it as a micro dead cat bounce. Look at this chart after clicking on "All". The drop is only barely detectable.

You are ignoring the huge gains that Bitcoin has made against the Venezuelan Bolivar.

[pErvinalia]

Yo Jason, maybe hold onto your gear?

Bitcoin's mining difficulty just recorded it's second largest drop ever.

As miners have been throwing in the towel and closing up shop, the mining difficulty has been adjusting as well.

More about miners throwing in the towel can be seen here:

https://steemit.com/bitcoin/@jrcornel/b ... -the-towel

Basically, as there are less miners competing to solve equations, the difficulty adjusts downward in order to keep roughly the same number of blocks produced each week.
Today, the difficulty dropped by over 15%, which is the second largest drop, ever!

https://steempeak.com/bitcoin/@jrcornel ... culty-ever

[rainbow]

Yo Jason, maybe hold onto your gear?

Bitcoin's mining difficulty just recorded it's second largest drop ever.

As miners have been throwing in the towel and closing up shop, the mining difficulty has been adjusting as well.

More about miners throwing in the towel can be seen here:

https://steemit.com/bitcoin/@jrcornel/b ... -the-towel

Basically, as there are less miners competing to solve equations, the difficulty adjusts downward in order to keep roughly the same number of blocks produced each week.
Today, the difficulty dropped by over 15%, which is the second largest drop, ever!

https://steempeak.com/bitcoin/@jrcornel ... culty-ever

Keep this in mind when people say bitcoin is dying...

Those saying that bitcoin is dead because miners are underwater don't fully understand how the process works.

No we're saying that its dying because people are realising that it is a scam. Nothing to do with the miners.