Bitcoin BELOW 6k. This is it. Bitcoin is dead and you can't even cash out with 170K unconfirmed transactions...

So back to October 2017 prices then. No biggie you muppet.

dude no it fucking wont.

this hard forked version of Bitcoin, Bitcoin Cash is essentially bitcoin but upgraded since they didnt follow through with Segwit2x.

How stupid and retarded are the people on here? They must be coming from Reddit

>dude anonymous people on the internet are literally telling you to buy their bags and you arent doing it??

/r/Bitcoin delusion

To hell with this garbage. All in on LTC.

dinosaur coin is done. u have been warned

this FUD is ridiculous...it is still higher than it was just a couple weeks ago, and just had a major run up a week ago...lol.

>my principal is lower than yours, I'm totally confident the floor is at least 1750, muh fib lines after all...
reminder that if bitcoin were ever to flash crash to $1000 across just a couple major exchanges, it would not have an easy time coming back up as millions in paper gains on long positions would be evaporated in an instant
we're sitting on a powder keg lads, smoke 'em if you got 'em

There are actual people itt who don't think btc is a shitcoin

Sad

Im with you on this thinking mostly but what is happening at the moment is fucking scary.

The problem is that only silver and gold are real money and anything else is subject to crashing.

Thinking like this is what caused the 2008 crash but I hope you are right

>check unconfirmed transactions, 170k
>want to transfer bitcoin, fuck this is going to take 2 days, well need to do it anyway.
>click send
>10 minutes later transaction confirmed

Anybody thinking this is it for btc is in for a rude awakening. Use your noggins lads. People don't care about the TECH of a coin because we aren't using BTC as intended anyway. It's name brand Bitcoin. It's super simple stuff but since you retards spend all day here you get poisoned by this shit.

somebody please call the chicago futures exchange and tell them that a guy on Veeky Forums and another on reddit said btc is done....

Lol this time is different. There's no foreseeable scaling timeline at this point. There's no plan to increase transaction capacity. Even if this backlog clears there's a fundamental problem that Bitcoin can't be transferred anywhere close to the needed rate.

What happens when the fee goes to $20 or $50 or $100? Every balance that is $50 or $100 becomes completely worthless.

80% are just memers and the other 20% paid shills spamming social media about BCH

dont engage them and let this shit blow over and we can get back to the alt party

I've been hearing people say "this time it's different" since 2013. It isn't different. People just shill shit to make money. Just like "china bans bitcoin". And some idiots believe it.

Gold and Silver crashed when Spaniards bought shitloads back from the new world

THIS

> People don't care about the TECH of a coin because we aren't using BTC as intended anyway. It's name brand Bitcoin.

HAHAHAAHAHAHAHAHAHAH bitcoin maximalists literally admitting BTC is a shitcoin. But yeah, lets shit on ETH. Member what happened to Myspace? kek

and this isn't hard if you've ever seen how thin the order books actually are and how easy it is to create downwards momentum by blowing through a few major stop and liquidation points
it's simple psychology combined with the topping out of the network effect
people want to own 1 of something, and 1 bitcoin is out of the grasp of a lot of new normies entering the space aside from the big money who are happy to use such a low float asset as a toy to succ you for your hard earned money (millennials aren't buying diamonds or gas guzzlers, but they are buying this bitcoin shit, this is our chance boys) through a completely rigged (see: free and unregulated) market
everyone's heard of bitcoin and had forever to buy it, the only ones buying now are the institutional greater fools and market makers wash trading to prop up the price and people who genuinely want to turn it into a veblen good because it's the only hope it has left failing every other test (currency, store of value)

>easy to create downwards momentum
Do it faggot.

5k bottom, 4500 at the absolute lowest. Anybody who watched the erratic and usustainable price action once it broke past 5k not too long ago can tell you it was completely ridiculous and inorganic. A correction was definitely due, but BTC is not doomed or anything IMO.

ok lol

You can laugh all you want, he's right.

>comparing crypto to social media platforms

wew lad...

I remember talking with my only other friend who traded crypto back in January of this year about how crazy it would be if BTC hit 2k by the end of this year.

Fast forward to now when it's still 3 times that price and all the talk of it being dead is absolutely hilarious.

why is gold even worth anything? because of the "fixed amount"?

this. It wasn't even dead when mt.gox crashed. Newfags everywhere. It literally can't die anymore at this point.

Who the fuck is that faggot and why should anyone care about his opinion? You think one guy means anything in crypto?

>You think one guy means anything in crypto?
yes, satoshi himself, probably owns thousands of bitcoins

one guy like this can catalyze a non-event news item into a $600 price rally or dip by using a trivial amount of bitcoin with leverage
have you even looked at the rich list in the last year?

>satoshi himself
Nigger there isn't a real Nakamoto Satoshi there were ~6 NSA faggots that put this shit together in their off-time and accidentally an economy. You don't know shit if you think meatbags matter in the crypto age.

>$600 price rally/dip
>pretending this matters at all
BTC regularly does +/- 10% on a day to day basis, if not more. You're just a cucked faggot that wants to pretend like if Roger Ver sticks his dick up your ass far enough you'll be rich too.

>what is the Lightning Network

Yeah, and if those coins move I'll be happy to call btc dead

source: your ass

>it's just a correction

Lol, heavy bags on BCH? When you try to overthrow king you better do it quickly, as when he gets up the bugs under get smashed. Enjoy holding your bitcoin bash

>Roger Ver: The Explosive Wildcard
>Jihan Wu: The Chinese Puppetmaster (pulls strings of his miner minions and asian hoarde)
>Mark Karpeles: Bitcoins biggest fan but betrayed by bitcoiners and now seeks revenge

This dream team is going to war against newcoiners who have forgotten that such autists wielding extreme power who have been here since the beginning still lurk in the shadows.

where does all the money go when a giant like buttcoin goes crashing down and loses like 2000 USD value?

i don't own either of these shitcoins but i wouldn't look at bitfinex right now m8 roger is dumping his load on you
if a trivial amount can do 10% imagine what a fistfull of buttcoins can do
imagine what his entire stack can do

shitcoins

>Satoshi Nakimoto: The stealth assassin who creates Bitcoin Cash and disowns his original creation

Yes + it looks cool and has application outside of money

wasn't it like $4500 a week or two ago? you're a retard mate

wouldn't it take like 50 shitcoins to soak up all that value and yet only few of them see a significant raise in price

it fucking evaporates because it's paper gains in an illiquid market where a whole bunch of the buying power is debt backed by bitcoin's value backed by debt backed by bitcoin's value etc.

ah nice. thanks

yeah, you can also cash out to USD and then the money goes to your bank account or your coinbase account etc. Or just sits there as a virtual amount

you have to pay tax when you cash out in my socialist yurupean country, but you cant deduct losses because virtual toy money doesn't have real money status yet. isnt it the same in the US

>imagine what his entire stack can do
Nothing, nigger. You think him dumping ~20k BTC is going to do anything but create a momentary blip? The market will just eat his order and carry on as usual.

you don't have to in my bureaucratic european country

Pretty much....black swan events like this really blow the lid on what kind of shitshow the crypto market is. One little power struggle between two big coins, and BOOM, a huge chunk of the total market cap instantly evaporates, even some shitcoin that has nothing to do with bitcoin.
All the prices you see on coins, it's backed by nothing, absolutely nothing, it's 100% psychology.

Which country is that? Maybe I need to move. I assume the EU as a whole will eventually be forced to take it easy on taxation laws on crypto because its not practical in the slightest when this stuff is actually used every day.

I didn't know you can trade straight into usd on coinbase and just hold it on your account, been only using hard wallets and bittrex

T. Cashcuck

Belgium, no tax on capital gains.

Yeah, you can do the same to Euro on kraken, but their platform is shitty

>cash out
That's not how you do it, user.
Open a business | gift it your bitcoins | put value of coins on shortorder balance statement | business asks bank for loan | get loan | cash out | remember to set the interest against previous years personal taxes

...

Deflation, us dollars literally disappearing makes my us dollars stronger. Thanks crypto fags

20k BTC is really not that much

Cool.
>instantly sell ~20k BTC
>have to clear out buy orders well below current price
>because so much is being dumped, end up selling BTC for $3k, $2k, $1k because nobody is there to be the counterparty
>screen blips down because suddenly price is $1k
>millions of new buy orders flood market
>price recovers to original level
This is why it's fucking HARD to liquidate big positions, you moron. If you actually wanted to get out of BTC, you don't announce it on twitter and do it at once, you slowly liquidate over a long period.

You are a moron and deserve to lose all your money. I just bought $10k worth of BTC @ sub 6k because I realized there is still plenty of dumb money in the market. Thanks for that.

I guess I know where I'm moving if my government doesn't at least simplify the tax laws so I can just pay tax on the difference between money put into crypto and money out. Atm the law literally makes me a criminal for not having reported every single conversion between every single cryptocurrency over the years. In practice, they perform simplified taxation, but the law actually enables anyone who cashes out to get legally destroyed if the tax officers want to. It's too risky. Norway is in the stone age.

>I'm a genius who bought 10 dollars worth of BTC at 5950

Lmao. Watch your peanut poorfag money evaporate over the next 48 hours.

why would you do it in one market order? nobody is suggesting that. you're also underestimating how difficult it would be to reach previous prices with x new liquidity on the market, as btc relies on illiquidity and a hoarding mentality to keep going up and most of the buyers in a boom like this end up being weak handed schmucks
20k on leverage across 5 major exchanges is significant

so do i throw in 130 bucks or not im a poor fag who wants double or triple his money for mere money.

Belgium is shit on other aspects of life though.

If you want to double stay out of bitcoin, and chose a promising alt. More risk though, but with 130 is a small risk.

...

It literally costs about $2500-3000 in electricity alone to mine a fucking bitcoin.
>illiquidity and hoarding
What the fuck are you talking about, leverage is widely available in BTC markets and they're not at all illiquid. Just because not all BTC are traded actively doesn't mean that the entire value of the BTC market isn't being traded daily.
>buyers in a boom like this
Yeah, if you bought @ 7.5k, you're probably not too clever. You're also not very clever if you can't realize an obvious recapitalization when you see one.

>pump BTC by putting in dollars
>run out of dollars
>fugg.jpg
>get dollars from selling BTC you acquired while pumping
>use dollars to continue pumping
>sell BTC slowly at new ATH ~10k over a few months, prop the market up from crashing below ~9k
>???
>profit

kek

>It literally costs about $2500-3000 in electricity alone to fraud a single bitcoin.
FTFY. Sounds good and secure to me

>fraud in BTC
The absolute state of Veeky Forums.

the scheme only works when bitcoin is trending up in popularity and demand, which all year it was because it was a gateway for the rest of the gains going on in the arena - right now is another spike, but you do know ETH went up 4000% this year right? obviously bitcoin was going to see some of that action. it spikes like a mad cunt and then everything else sees renewed interest as people look to diversify away from the hot-hand overcrowded asset

heard the same shit on the 15th of september
btc is dead prepare for 2k$

this dip was rejected hard at -30%