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    Cryptocurrency Daily Discussion Megathread - November 20, 2018

    November 20, 2018

    Cryptocurrency Daily Discussion Megathread - November 20, 2018

    Daily Discussion Megathread - November 20, 2018

    Posted: 19 Nov 2018 10:04 PM PST

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    submitted by /u/CryptoCurrencyMod
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    Bitcoin dropped below 5000. Where's that guy who made a bet that it wouldn't?

    Posted: 19 Nov 2018 09:22 AM PST

    We need to get that one guy who made a uber confident post that there is no way Bitcoin would drop below 5000 and made an offer to bet anyone for it. Now I can't find that post (deleted?) but maybe someone in the community can track that guy down and get him to say something. Another person did take him up on that bet so I'm eager to see this get sorted out now.

    Found the original post: https://www.reddit.com/r/CryptoCurrency/comments/94b9d9/everyone_saying_btc_is_going_to_3000_is_new_and/

    /u/dieyoung time to honor the bet

    /u/goodwill_cunting congratulations on winning.

    submitted by /u/BaleeDatHomeboi
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    Bitcoin’s next support level

    Posted: 19 Nov 2018 01:53 PM PST

    IOTA Foundation and HIGH MOBILITY collaborate to power new mobility apps - launching today!

    Posted: 20 Nov 2018 02:15 AM PST

    The most valuable investment is in yourself

    Posted: 20 Nov 2018 12:08 AM PST

    Today marks my 1-year anniversary of being introduced to bitcoin and cryptocurrencies in general, and making my first purchase. 0.01 BTC for $77. Man what great times those were! Remember the excitement? I remember how ecstatic I was when my cousin showed me how to transfer to GDAX to save a few bucks on fees. Reading up on blockchain, listening to Andreas speak about bitcoin. I showed everyone and their mother that video. I was hooked. I'm sure you remember those glory days. It was all over the news, and all the rage. Thanksgiving around the corner, everyone was talking about it. I remember discovering coinmarketcap, feeling so excited scrolling through the wide array of incredible new blockchain technologies that can change the world. Good times.

    ​

    Obviously those highs are gone now, in more ways than just one. Since 2018, grim times have been upon us. I was lucky enough to not invest blindly like many of my peers unfortunately did. I did my research diligently, budgeted accordingly, dollar cost averaged, and even learned how to set stop losses. While I'd like to think that I have come a long way in a short year, I know I am still an extreme novice in this space--bitcoin is only 10 years old, so in a ways we all are. Know that I have failed many times along the way, not just in my investment portfolio.

    ​

    I just want to take a moment in these bleak times to remind everyone that no matter how much you invest--whether it be your hard earned dollars, or your precious time analyzing and following charts, following news and reddit, doing research and weeding out the shitcoins from the genuine projects, there is no greater investment than in yourself, your family, and your own mental harmony and health.

    ​

    Many times I've neglected my familial duties as a father and husband, simply so I could research the next potential big hit investment, or read up about cryptos. I let my family down--at what cost? Even went so far as to miss a close friends wedding, simply to invest the extra fiat saved on tickets--how fucking selfish of me that was. I let my friends down as well. I found myself alone at times. I found myself at a new low in life.

    ​

    It may seem really cliche, but there is more to life than crypto and investments. Don't make the simple mistakes like I did which seem so innocent at the time.

    ​

    Give time to your family, they deserve it the most.

    Spend time with your friends who are always there for you, but most importantly--

    Make time for yourself and your health, both mentally and physically.

    ​

    submitted by /u/childofthedub
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    Those Who have Stopped Mining, Consider Donating GPU to BOINC (help science, medicine, physics, astronomy)

    Posted: 20 Nov 2018 12:30 AM PST

    Back before mining became the thang, distributed computing took off with SETI@home, starting way back in 2002. (Ironically also a winter bear market).

    Now the BOINC project supports lots of amazing projects.

    https://boinc.berkeley.edu/

    submitted by /u/crypto_kang
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    This is it....die shitcoins, die.

    Posted: 20 Nov 2018 12:07 AM PST

    Finally the big clear out looks like happening.

    Before we head off into new territory a hell of a lot of projects need to be dead and gone.

    The ico craze last year spawned a lot of shitcoins and damp squib projects. It's not what this space needed but we got it anyway.

    This is not the end but just the beginning. Invest and believe in crypto that has SERIOUS future potential and when the dust finally settles, trust me, there will only be dust left we can look forward to the next wave.

    The shitcoin is dead... long live the coin with an actual purpose....

    submitted by /u/BigG1011
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    So let me get this straight...

    Posted: 19 Nov 2018 12:07 PM PST

    Market seemed to be recovering and stabilizing. Bakkt and ETFs are on the horizon.

    Some angry, vocal, divisive dickhead who claims to be Satoshi, who is a bitcoin billionaire, says that there is "some unsolvable fatal flaw" that will make bitcoin worthless but he won't say what for another year, then decides to fork a FORK (BCH) and start a twitter war with another unstable dickhead (Roger Ver), calling for the failure of BCH and Bitcoin publicly while he pumps his shit coin.

    So now the crypto spotlight is completely on two angry, aggressive, greedy psychopaths calling for the failure of each other, with no regard for people invest in those individual cryptos or cryptocurrency as a whole.

    If anything could flash crash crypto, it's a stunt like this. Craig Wright's timing is a little too convenient, no?

    I'm not fucking selling, I'd rather lose it all (still have 150k invested at the moment) than sell at the bottom of some orchestrated scheme. If it pays off it'll pay off huge and I can retire, if I lose everything it's just a nice car.

    EDIT AND UPDATE

    So what's apparently causing this crash is Craig Wright and Jihan both dumping the shit out of their BTC to fund their hash war. Two billionaires are literally crashing the entire system to massage their egos. With all alts pair traded with BTC, they're tanking everything together. Stay strong.

    submitted by /u/hellybeaner
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    This is the best visualization of what happens with me every time I check the price

    Posted: 20 Nov 2018 01:53 AM PST

    Couldn't have said better in these dark times - "What matters is that we focus on the technology and adoption rather than the price, and build out a sustainable and adopted ecosystem for the long term"

    Posted: 20 Nov 2018 12:27 AM PST

    So...about Bakkt.

    Posted: 19 Nov 2018 07:10 PM PST

    Just had a thought and was curious what everyone else thinks on this one.

    A lot of people including myself think it's very, very strange that Bitcoin is dumping while Bakkt is right around the corner.

    We also know that institutional money is here. If you look at the charts it becomes painfully obvious they have been here a lot longer than most people realize.

    Here's the thing. What are banks/institutions good at? Making money.

    How do they do it? Forcibly make shit cheap, then moon it. Over and over and over again. Cycles, as professionals call it.

    Now, how would we gain mainstream adoption for specifically Bitcoin? Lord knows everyone has their own shill coin that has their own curve for how it will become adopted, but what about specifically BTC? A lot of people would argue Bitcoin will eventually die off, because it isn't feasible as a currency. What if, though, Bitcoin actually does become a store of value similar to gold? How would institutions make that happen?

    Queue Bakkt.

    Queue this price dump.

    Think about it. If you were 50 years old, and the only thing you knew about Bitcoin (if at all) was that it reached an astronomical high, and burned a shitload of people who FOMO'd into it. Trust factor is basically zero with retail money. Soon, however, it will be available en masse to the general public for retirement funds and whatnot.

    What do you do as an institution wanting to make a shitload of money, to not only bring back faith in Bitcoin, but make a shitload of money doing it?

    RESET IT.

    A lot of professionals would say that an asset that has gone parabolic will almost always return to the point of breakout. It can be argued many different thousands of ways where Bitcoin 'technically' broke out, but that isn't the point here.

    1. Destroy Bitcoin's price to shake out ALL weak hands. Not just some...ALL.
    2. Bring it down to a value where anyone can throw any amount at it and be satisfied with what they've accumulated.
    3. Introduce Bitcoin en masse to the general public via platforms such as ... Bakkt.
    4. Allow the price to start rising again, thus eventually starting a new parabolic movement up.

    We all know traditional markets are in a downturn right now, and that's my other point.

    What if Crypto not only becomes adopted mainstream in the coming years, but becomes the new stock market 2.0?

    If you think about it, whales make peanuts in the stock market compared to what they could/do make in Crypto. ESPECIALLY being that it is still technically a brand new asset class. Liquidity isn't there yet, so a whale could put $1M into a low market cap coin and cash out for hundreds of % in profit.

    I feel like we're looking at this all wrong. I don't feel like Crypto will become *a* safe haven.

    I feel like Crypto will become *the* safe haven. When stocks start nose diving, and the Crypto market is thriving, where do you think anyone with half a brain will put their money? Remember - these Crypto whales can fast track mainstream adoption if they truly wanted to. Maybe...Just maybe, that's what they're already doing.

    1. Destroy the traditional markets while dumping Bitcoin.
    2. Bitcoin bottoms while traditional markets are picking up mass sell momentum. (Check the charts, this happens often already)
    3. Bitcoin and Crypto as a whole starts to rise again.
    4. Super whales and institutions begin a mass marketing strategy meant to get grandpas to invest Bitcoin into their 401k.
    5. Because of Bakkt, grandpas start making money.
    6. Because grandpas are making money, word of mouth spreads fast. Next thing you know...

    It's a win win for literally everyone. We get to accumulate cheap, they get to accumulate cheap. They get to (yet again) keep control of our money because they are the majority shareholders of Bitcoin's supply and can take the price wherever they want.

    Bitcoin controls the ENTIRE Crypto scene right now, and always has.

    Which means they can accumulate literally any Crypto they want in any amount they want.

    How do you bring mainstream adoption to a new asset class that is highly volatile, while always being in control, while making shit tons of money?

    Bitcoin. The timing of EVERYTHING just seems so ... coincidental doesn't it?

    People, while you are panicking, someone is buying your bags, and for a reason. Remember that.

    Edit:Time will tell, but we have an uptick on Google Trends. This is a very, very good indicator.

    https://trends.google.com/trends/explore?date=today%201-m&geo=US&q=bitcoin
    https://trends.google.com/trends/explore?date=now%207-d&geo=US&q=bitcoin

    submitted by /u/scotto8888
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    You okay bitcoin?

    Posted: 20 Nov 2018 02:34 AM PST

    Vietnam explores Crypto regulations despite previous events. The Vietnamese Ministry of Justice submitted a report reviewing current legislation of Crypto and activity in the country's digital currency market.

    Posted: 20 Nov 2018 01:56 AM PST

    Reminder: Charlie Lee sold his Litecoin (LTC) stash around December 20th 2017. Today, he could rebuy up to 9 times his original stash.

    Posted: 19 Nov 2018 03:16 PM PST

    Cryptoland has burned down! Who will rise out of the ashes?

    Posted: 20 Nov 2018 12:47 AM PST

    Aight boys, see ya on the other side!

    Posted: 19 Nov 2018 05:01 PM PST

    Hey all, it's been a real pleasure.

    To be honest, all these red numbers aren't really even scaring me. About 2 months ago the boredom of watching the price stay around $6200 got to me and I turned my sights to the future. I now think of my investment as a long term investment and could give two shits about the price. The sudden tank is at least exciting lol. I genuinely believe crypto's are the future. The world is not ready for them yet, and may not even be ready in 5 or 10 years. I dont NEED the money I have invested and so hopefully I'll have a nice surprise after my hiatus.

    For the next few years I am deleting my portfolio app, unsubbing from r/cc, and trying to put it out of my mind. I have a weekly buy of $50 going and that's that! If I see an r/bitcoin post on the front page then maybe I'll swing back in lol.

    Until then, thank you all for the support!

    submitted by /u/ate-too-many-humans
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    ShareRing launches on DX.Exchange, the world’s first NASDAQ powered crypto exchange

    Posted: 20 Nov 2018 01:18 AM PST

    A dump right before BAKKT and ETFs go live...

    Posted: 19 Nov 2018 08:54 AM PST

    Coincidence?

    Do institutional investors really want to buy in at market value? I don't think they do, I think it's likely that the large market drops are deliberate. They don't want to buy from us at our prices, they want us to buy from them at their prices.

    Bitcoin was very stable over the last few month but suddenly right before ETFs and BAKKT, everything drops.

    It's only my opinion but a lot of money can enter with ETFs and a drop just doesn't make sense. Normally we get pumps from news like this and dumps when it's released. This time I feel like somebody is making sure opposite happens.

    submitted by /u/toohottoospicy
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    Bank of America and Ripple (XRP) in Talks over Collaboration

    Posted: 19 Nov 2018 10:38 PM PST

    OKCoin Expands to Latin America with a Local Fiat Gateway

    Posted: 19 Nov 2018 04:49 PM PST

    Chart published by MustStopMurad on Sept. 25. Most accurate one so far, kudos for the excellent TA.

    Posted: 19 Nov 2018 10:08 PM PST

    Seems fitting

    Posted: 19 Nov 2018 04:23 PM PST

    I sold it all

    Posted: 19 Nov 2018 09:03 AM PST

    And then spent the next hour more depressed than I can ever remember being. So I said fuck it and bought back in.

    I'm one of the people that gets made fun of here and elsewhere. I got in in Nov 2017 because of the hype train. I didn't understand the tech, and I still don't on a granular level. Thankfully I stayed away from obvious shitcoins and kept things relatively conservative, and made a killing daytrading Ripple when it went briefly to $3, but then I lost big on multiple attempts to buy the Ethereum dip.

    I put half my life savings into crypto, and I'm down 50% from my initial investment, which means I've lost 25% of my net worth. For me, that has at times felt like a death sentence. I'm a dramatic dude, I guess, and it hasn't helped that my stocks have tanked hard this year, too.

    Maybe you're in a worse boat than I'm in. Which means you're probably thinking about running away now, too. Just a minute ago Bitcoin dipped to $4,998 on Kraken. Now seems like the time to exit. Surely the freefall isn't over.

    But during that hour I cashed out, I thought back to that poster hanging on Lester's basement wall in season one of Fargo. You know: "What if you're right and they're wrong?" Everyone I meet in my day-to-day who has chastized me for investing in crypto knows almost nothing about the space.

    What if I'm right and they're wrong?

    I thought back to this post I made half a year ago and got downvoted to Hell for. And I realized... so far, I'm right. I just wasn't emotionally prepared for the implications of being right. This story doesn't end at 0. Stay in.

    submitted by /u/reggiemt
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    Bloomberg suggests btc could fall further, even towards $1500, do you think that's possible?

    Posted: 19 Nov 2018 11:13 PM PST

    Stellar Overtakes Bitcoin Cash As Civil War Rolls On

    Posted: 20 Nov 2018 12:59 AM PST

    I need help spending money!

    Posted: 19 Nov 2018 10:11 PM PST

    "I need help to spend all the money I made during the bullrun"
    is what I could say to you if I weren't such a greedy colossal moron.

    What a joke I am... I used the word investing about 5 times a day im late 2017, and now I'm getting obliterated. Too scared to sell, because I already lost so much that it doesn't even really matter anymore if I sell or hold. I really hope that my partner doesn't remember how much I told her I had in crypto.

    RIP me.

    submitted by /u/RealFluffyCat
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