[–] Brawndosaurus ago
Over 4k for some bits made up by some guy nobody knows. Yeah, totally worthless /s
[–] xenoPsychologist ago
le gasp! but i thought it was the perfect money and nothing bad could ever happen to it!
[–] [deleted] 0 points 1 point 1 point (+1|-0) ago
[–] [deleted] 0 points 1 point 1 point (+1|-0) ago
[–] TestForScience [S] 0 points 1 point 1 point (+1|-0) ago
I was basing it more in the context of the Kung-Flu; there's been talk that after the stocks fell, so would CC.
[–] Nosferatjew 0 points 4 points 4 points (+4|-0) ago
Bitcoin is already up $1000 from there. Where it goes from here, who knows, but one thing's for sure: it will fluctuate.
[–] CrustyBeaver52 0 points 4 points 4 points (+4|-0) ago
Market players are leveraged to the 9's, and now they are caught big time.
Margin call gentlemen.
Panic sales across the board.
Yesterday morning somebody dumped $24 billion in paper gold.
[–] fightknightHERO 0 points 2 points 2 points (+2|-0) ago
paper gold?
[–] CrustyBeaver52 0 points 1 point 1 point (+1|-0) ago
Yeah - China has laws that say certain trades can only be paid for in gold - or must have collateral in gold - or some such - but that much gold does not exist in the world - so they invented paper gold.
It's basically another fiat currency that trades at the price of gold - (and thus allows everyone to pretend Chinese law is being followed,) but when it is bought and sold, it has an effect on the retail price of real gold, for now. Until someone defaults on a paper gold contract, which may be mere moments away. Sooner or later the market will realize it is not real gold, and that game will be over, hopefully for good.
[–] jimibulgin ago
"This is good news for Bitcoin."
/s