BTC is about to get raped by Gordon Gekko

cnbc.com/2018/01/18/hsbc-to-pay-100-million-to-settle-currency-rigging-investigation.html

The presence of short sellers in the market means we will now get to experience short squeezes. Contrary to popular belief, shorts in the market constrain price crashes because of shorts taking profit (buying as the price moves down). On the flip side they can accelerate upward moves because shorts are having to buy to cover to prevent further losses.

In mid Sept 2008, the SEC banned short selling of financial stocks. During the next two weeks is when the stock market crashed harder than any other period of time during the 08-09 bear market.

>using a volatile currency used just to speculate for real use cases
name one coin that does the job better than visa/paypal and banks. i'll wait

Crypto will inevitably replace stocks. You'll buy tokens/shares through a company's blockchain. Wall Street as we know it will be no more.

>to the ground
>not even below a 3 month old investment

ITT nocoiners/poorfags
LOL ENJOY YOUR FOMO

The point is to move away from banks.

wait for jan 26
they cleared the order book as soon as futures closed
they can short this back to 9k easily and the panic sell will bring it even lower. just watch

is that why BTC is back to price from november and ETH is way higher than at the beginning of january?

>they can short this back to 9k easily and the panic sell will bring it even lower. just watch
i really hope this happens because I missed the last ETH dip
got 100k sitting on exchange now (not even larping) and I'm waiting for another chance like that

Yeah exactly that, if they kill BTC quickly before ETH is in position to replace it, people will literally run to the bank, thether will crash and with it the bubble will pop, everyone will run to cash out their crypto, leaving every single coin out there fucked for years, crypto will take years to recover.
Most uses for crypto right now are pilots that literally earn no income.
You got memed friend.
Let me explain, we're investing in the future, but for the future to happen they need our investment, now nobody wants to invest in an asset that is quickly depreciating and will remain fucked for years, therefore without investment no future which means no future no investment, crypto ded.

companies will use the blockchain but it will be completely different from what we have now.

>hurr durr look at these silly automoiles
>they're slow and break down all the time
>show me an automobile that is better than a carriage
The technology is still new, you brainlet. Give it a few years to weed out the shitcoins and to stabilize.

Speaking like a few fucking moron who doesn’t realise that BTC has already been surpassed, that distributed ledgers don’t need POS or POW or a token to function

>BroNat

/pol/ detected. Hello /pol/!

Has it occured to you that they merely crashed BTC to the levels they lreviously bought in?

>It's only a matter of time until it will be adopted by business and consumer markets.

Why? Every developed country already has a currency.

I hate to say it but... Cripple...
many coins can scale to the numbers of visa and paypal but it requires upgrades that are not necessary right now, once the uses are there scalability is totally feasible.
And guess what, with better security, decentralized and lower fees.

>cryptography competes with banks
banks already use
>blockchain tech competes with banks
considering that banks want to save money, i'm pretty sure they will integrate it. any bank that excludes it will probably lose business.

also, assuming you think cryptocurrencies are literally intended to be for payments, banks don't give a shit if you use Nigerian dirt money or fiat or digital tokens. They will just want to regulate it at a high level. the functions of different cryptos are not even comparable though. right now you can't talk shit because their values have only gone up YOY. you can try again in 10 years, but you'll need a better argument. your question might as well be "why should people wear clothes when they can just wrap themselves in toilet paper??"

Efficiencies and Progress? Short of being America, run by a literaly retard, what country wouldnt adopt blockchain technologies in order to cut costs and make important advances?
Russia and China are in a pissing contest right now trying to establish themselves as the most influencial world power, dont underestimate their abilities to innovate in order to do this.

crypto is not just a currency.

venchain uses the blockchain to stop counterfeiting and show the history and movements of any items, such as where the materials came from etc, essentially an inmutable log book.
This is big for the car industry for example, now u can confirm in an inmutable log book that the bmw part you're buying is indeed original bmw, etc.
you have platforms like ethereum which can enable things like lower cost remmitance, smart contracts, dapps that eliminate middle man such as artists selling their music|products direcly to the consumer using smart contracts to tract delivery etc.
or ICX a platform that aims to interconnect different institutions and allows tokenisation for internal transactions etc, removing middle man who take cuts while improving data access for verified parties etc.

The blockchain is more than currency, grandpa bitcoin is not the future, alts coins are.

yeah but try moving away from a sovereign currency
plus who tf is going to lend you money for paying your house or expenses? are you gonna start a kickstarter or sign up for scams like bitconnect? good luck with that.
>inb4 muuh smartcontracts
yh still so new that after 10 years nobody uses it as a currency but as a speculative asset
cripple is centralized. sorry you tried

I said other coins can scale to that point while also being decentralized, you wanted a coin that could handle that amount of transactions right now, well that's cripple.
next.

>10 years
>not new
How old are you? 12? Shit like this takes decades.

so the whole point of "decentralization" isn't worth anything if you bring up ripple?
visa and mastercard are already experimenting with blockchain technology and they can apply your meme to real currencies
>be your own bank amirite?

You asked for a crypto that could do what they do and I gave it to you.
Other chains can scale up to manage even more transaction while being decentralized and will happen when there is a use case, in theory is possible and in practice you have shitcoins like xrb.
Now be gone brainlet.

Are you suggesting that no one panic sold during the crash?

crypto ruble, Putin wants BRIC to accept it

>will happen when there is a use case
>implying people will want to deal with volatile currencies to buy things
>impying people will want to use crypto without any warranty
>implying people will use crypto which is vulnerable to hacker attacks
>implying people won't need a bank for their loans
>implying sovereign states will allow some neets to overthrow their sovereign currencies
>implying people in crypto aren't following the greater fool theory
>implying you're a faggot
keep dreaming soyboy, nobody needs new currencies for their shit. blockchain technology has a future. your shitcoins no

We live in the present faggot. No one here is anxious to wait two decades for the next instance of cryptomania.

BCH could scale RIGHT NOW using Graphene and a few other known optimizations but the reason nobody gives a fuck about it is that it has little ponzi potential like BTC - almost nobody has ever bought BTC to use it, only to sell it to the bigger sucker.

>shorting something makes it drop in value

sure