Bitcoin Thread

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Some food for thought on why the SEC meeting today could be very positive for Crypto:

"We are entering a new digital era in world financial markets. As we saw with the
development of the Internet, we cannot put the technology genie back in the bottle. Virtual currencies mark a paradigm shift in how we think about payments, traditional financial processes, and engaging in economic activity. Ignoring these developments will not make them go away, nor is it a responsible regulatory response. The evolution of these assets, their volatility, and the interest they attract from a rising global millennial population demand serious examination.
With the proper balance of sound policy, regulatory oversight and private sector
innovation, new technologies will allow American markets to evolve in responsible ways and continue to grow our economy and increase prosperity. This hearing is an important part of finding that balance"

J. CHRISTOPHER GIANCARLO
CHAIRMAN, COMMODITY FUTURES TRADING COMMISSION
 
garp said:
And I know more than a few who have their live savings in equities... shame.
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LOL

as that famous Cape Town joke goes

"you know mos..."


... but its not doom for stocks, they are still pretty high
 
CryptoserA said:
lol, dead?
Dow Jones drops 800 point in 20 minutes no one is talking about that 150B wiped out in a heartbeat.
Bitcoin corrects to 2 months ago prices and all hell breaks loose.
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And the Nikkei dropped 1500 points in it's biggest drop since 1990 overnight while DOW futures are sitting down 600 points this morning which means the bloodbath will likely continue today, but never mind, the mainstream media tells us, it's just a healthy correction. So the trillions coming off mainstream markets is nothing to worry about but the billions on crypto markets is like the end the of the world and proof that they are dead...
 
garp said:
but never mind, the mainstream media tells us, it's just a healthy correction.
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it is a healthy correction, the DOW for example shot up 5000 points (25%) in 12 months without any monthly drops, unheard of and for no real reason
 
garp said:
And I know more than a few who have their live savings in equities... shame. Not looking good. Today may be worse.[/ATTACH]
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You mean pretty much everyone with formal employment?

Almost everybody is riding the stock market to some extent via their retirement funds.
 
Knyro said:
Nah I got it. I was just adding to it. :p

Also I'm not calling any bottoms until we have at least two days of upward movement. I took the opportunity to short that spike like a mofo and it worked out. :cool:
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FFS I closed that short too early. Would have made stupid money.

Ah well, hindsight and all. I certainly didn't expect us to come this far down.
 
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