Anonymous69
Senior Member
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- May 28, 2013
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Bitcoins drops $8000, 60 billion wiped off over cryptocurrencies.
Buy, sell?.
Buy, sell?.
- Thread starter Alomar
- Start date
I would say the market cap is fake, at the moment bitcoin has a 3 billion fiat influx so for it to reach 100K it would have to get another 27 billion in cash in to the system. Not at all impossible if you consider its global scale.
The market cap is inflated at least 50x. Hot air comprises the rest, mined coins and air drops and fork, air biscuits, farts you can taste. Tether may be the only real crypto with a real market cap of 2 billion in actual fiat IF the FUD is not true.
A 1 million bitcoin may not be far fetched at all, cashing out is a completely different story. But all it would take is for the greater fools to pitch in another 300bil globally...
I bought some at 6100 just for shits and giggles. Then I helped friends buy in at 6500 which was the bottom, so happy folks. Do note to stay away from Bitcoin scammers. Still a buy opportunity because I predict BTC at 50K by years end. If you don't want to buy just keep holding your dicks and watch the gravy train pass on by.
The market cap is inflated at least 50x. Hot air comprises the rest, mined coins and air drops and fork, air biscuits, farts you can taste. Tether may be the only real crypto with a real market cap of 2 billion in actual fiat IF the FUD is not true.
A 1 million bitcoin may not be far fetched at all, cashing out is a completely different story. But all it would take is for the greater fools to pitch in another 300bil globally...
I bought some at 6100 just for shits and giggles. Then I helped friends buy in at 6500 which was the bottom, so happy folks. Do note to stay away from Bitcoin scammers. Still a buy opportunity because I predict BTC at 50K by years end. If you don't want to buy just keep holding your dicks and watch the gravy train pass on by.
blackram
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- Dec 17, 2010
- Messages
- 14,008
Bitcoin: Is It Nothing But Monkey Business? | Screeble
A long long time ago, there was this bustling village, on a beautiful Caribbean island, called Dopeyville.
Sure it was far away from the mainlands, away from most of the action, but it still had decent burger joints, coffee cafes not owned by global chains, and you could get tasty homebrew beers in its rough-and-tumble bars. In short, life in Dopeyville was simple, yet great.
What’s more, it’s got one big claim to fame: The place was well-known for its boatloads of monkeys. Enough monkeys to make them a commodity as common as wheat.
One day, a merchant came to the village. He found an abandoned building — it would take capital to fix, but the walls were firm and the roof only needed a patch. Gutted and redone it, he made it his place.
Anyway, he then posted an announcement.
“Buying monkeys. $50 each.”
The news left the villagers flabbergasted. Why would he want those useless monkeys? What is he thinking?
Of course, some villagers still caught the monkeys and sold them to the merchant for $50 each.
A few days later, the merchant announced that he would buy the monkeys at $100 each.
So the villagers — and even more villagers — caught more monkeys and sold them to the merchant.
And when the merchant announced that he would buy the monkeys at $200 each, the villagers went out of control. Day in, day out, they cared for nothing else but catching monkeys. Every monkey was a jackpot win.
Until there were almost no more monkeys to be found on the island.
The villagers wondered if there would be another announcement. They expected there would be.
And it came.
“I will be heading back to my hometown for a week,” the merchant declared. “And when I return, I will buy every monkey at $1000 each.”
And an employee was tasked to look after the monkeys he had bought. With that, the merchant went home.
But there’s one hitch. There weren’t any more stray monkeys left to be caught.
The villagers were dumbfounded. At a loss. Then exasperated.
That was, of course, until the merchant’s employee proposed to sell the villages some monkeys at $700 each, secretly.
Not exactly what they needed. But nonetheless, reasonable it seemed. A tidy profit of $300 with each monkey sold at $1000. Deal.
This news spread through the village like wildfire. Everyone wanted a piece of the pie. The wealthy bought the monkeys in big lots. The poor borrowed all the money they could to buy the monkeys.
The monkeys were sold out within a day.
Then it happened.
The night was warm. The skies threatened rain but never opened.
The villagers were gathered at the merchant’s house. They felt pumped, excited. Every fibre of their being was vibrating with anticipation. This was the moment. Any minute now the merchant would pull up, with fat wads of cash in his hands, ready to proceed with the promised deal.
A month passed.
The merchant didn’t appear. And his employee had disappeared.
The villagers were left with nothing. Nothing, but monkeys. Useless monkeys that they had bought for $700 each.
A long long time ago, there was this bustling village, on a beautiful Caribbean island, called Dopeyville.
Sure it was far away from the mainlands, away from most of the action, but it still had decent burger joints, coffee cafes not owned by global chains, and you could get tasty homebrew beers in its rough-and-tumble bars. In short, life in Dopeyville was simple, yet great.
What’s more, it’s got one big claim to fame: The place was well-known for its boatloads of monkeys. Enough monkeys to make them a commodity as common as wheat.
One day, a merchant came to the village. He found an abandoned building — it would take capital to fix, but the walls were firm and the roof only needed a patch. Gutted and redone it, he made it his place.
Anyway, he then posted an announcement.
“Buying monkeys. $50 each.”
The news left the villagers flabbergasted. Why would he want those useless monkeys? What is he thinking?
Of course, some villagers still caught the monkeys and sold them to the merchant for $50 each.
A few days later, the merchant announced that he would buy the monkeys at $100 each.
So the villagers — and even more villagers — caught more monkeys and sold them to the merchant.
And when the merchant announced that he would buy the monkeys at $200 each, the villagers went out of control. Day in, day out, they cared for nothing else but catching monkeys. Every monkey was a jackpot win.
Until there were almost no more monkeys to be found on the island.
The villagers wondered if there would be another announcement. They expected there would be.
And it came.
“I will be heading back to my hometown for a week,” the merchant declared. “And when I return, I will buy every monkey at $1000 each.”
And an employee was tasked to look after the monkeys he had bought. With that, the merchant went home.
But there’s one hitch. There weren’t any more stray monkeys left to be caught.
The villagers were dumbfounded. At a loss. Then exasperated.
That was, of course, until the merchant’s employee proposed to sell the villages some monkeys at $700 each, secretly.
Not exactly what they needed. But nonetheless, reasonable it seemed. A tidy profit of $300 with each monkey sold at $1000. Deal.
This news spread through the village like wildfire. Everyone wanted a piece of the pie. The wealthy bought the monkeys in big lots. The poor borrowed all the money they could to buy the monkeys.
The monkeys were sold out within a day.
Then it happened.
The night was warm. The skies threatened rain but never opened.
The villagers were gathered at the merchant’s house. They felt pumped, excited. Every fibre of their being was vibrating with anticipation. This was the moment. Any minute now the merchant would pull up, with fat wads of cash in his hands, ready to proceed with the promised deal.
A month passed.
The merchant didn’t appear. And his employee had disappeared.
The villagers were left with nothing. Nothing, but monkeys. Useless monkeys that they had bought for $700 each.
Drops under $11,000. Panic attack yet?.
Bitcoin drops below $11,000, pulls back from key breakthrough level - MarketWatch
