Is bitcoin about to crash?

huge drop in the last couple hours, you think its done for?

No user, that's a correction. Probably because segwit2x was cancelled.

Last time bitcoin dipped $1000-$1500 from $4500 to $3000, it went to $7500.

It is of course going to die eventually, but I still imagine that's a long while off.

The alternatives aren't offering any compelling innovate advantage just yet.

bitcoin has been completely compromised now by the Chinese, with predictable results

I just heard from someone that its been legalized as a currency in japan. im not invested into it, but id like to see it fall.

>is an imaginary currency that no one accepts and is backed by nothing going to crash?

Yes.

Maybe I am to dumb too get it, but isn't deflation bad?
We all know that inflation is bad for the most part, but what about deflation? Imagine if the dollar's buying power just started going up and up, and it would never stop. Wouldn't that be a terrible thing? Sure, it's good in the short term and for the people who have amassed a ton of dollars, but isn't that really fucking bad for the currency? Wouldn't this lead to major economy problems?
I've never really looked into it, but I remember a few years ago someone talking about it on Sup Forums.
I am fairly sure that you want the currency to stay flat.

the only purpose of this ponzi scheme is to create the biggest energetic collapse of history

>id like to see it fall

Why? What'd bitcoin do to you?

You seem commie.

No it will always go up until a single bitcoin is worth one million dollars and more

It is written

Wtf this rollercoaster monopoly money people only buy to hang on to or buy drugs, not even backed by physical matter is going to crash?

On a three year curve it's proiftability arc has been insane. a market correction is inevitable as people take profit at the record high water mark.
The only thing that'll cause an actual crash will be if major governments outright ban it.
If you ever get a chance to buy some at under 4k again, i'd be shocked. And then I'd buy more. Holding my 5 btc and thankful i got in on it when I did, regretful I didn't get more.

>Backed by nothing

You don't understand cryptocurrencies at all. They're backed by math. Fiat is what's based on nothing.

I hope not i have a fair amount

>They're backed by math.

>not being backed by Phys. Ed.

It's been done for a while. Everyone knew it was a speculation bubble. When your main value is based off media articles and hype, market saturation is reached very quickly.
It's indecisive, which shows weakness, regarding the news about the split being postponed.
Coiners on suicide watch.
>b-but im going to buy low, sell high
>hold
>p-please hold, i used my dads money to buy coins at $7k

furthest thing, but just the idea of intoducing new currency into an economy that already has a currency is just retarded in my opinion. and all the jewbook people now all think they are stock brokers for wanting to buy bitcoin at almost 7 grand. crypto currency is just dumb.

My thoughts exactly. Well, good for those that are aware of it and make a profit of this fad.

China is going to block it at firewall and Uighur terrorists in Mongolia are going to false flag the biggest mines.

Even if bitcoin died another crypto would take its place far before it necessarily went away.

that's a lie. hard to use bitcoin anywhere

All commodities are functional currencies in that they trade readily for other commodities. Do you have the same issues with people buying gold or cattle futures?

Nobody is using Bitcoin as a measure of relative value, and they won't because it's inherently deflationary.

So it's not as if it's replacing money or anything. I think you are imagining it to be more significant than it is. The unit of measure will always be what the tax man says it is.

Buy the dip.

>"buy the dip"
>keeps dipping
>"h-hold guys, trust me"
People are literally this retarded. BTC lost ~$1000 in value in less than 48 hours. When you buy, you just incite more selloffs, since sellers see it as an opportunity to make a few more dollars. The reason it's not dropping like a rock is because half the idiots that bought it can't figure out how to sell for fiat.

what happens when a new digital currency comes out, it just makes bitcoin worthless? how is this a good idea

DROP FUCKER DROP!!!!!!!!!!!!!!

Marh won't help you when someone hacks the system and wipes out everyone's "money".

Math won't help when manipulators crash the value or jack it way out of proportion.

But if you mess with the US dollar we will literally remove you from power AND have you killed.

Fucking hope so. I want GPU prices to go back down.

>But if you mess with the US dollar (((we))) will literally remove you from power AND have you killed.
Keeping printing more of that bullshit why don't (((you))).

Buy alts you dumb whore. Bitcoin is for normies.

t. Altbaron

hello are you also in the new JIDF contracrypto division? I didn't get the memo on this thread

I've got a few BTC, made some good money from it but got in really late. I've got bots watching it and they sell when it goes down and buys when it goes up. Usually BTC isn't crazy volatile but it has been a little lately. Make better returns when it's volatile.

If you want to lose your mind head over to /biz/

Cashed out at 7.3k

Crash already

You can already buy a gtx 1060 at a fair price, AMD GPUs are still overpriced though. Also BTC hasn't been profitable to mine with GPUs for a while.

I doubt the transition will happen overnight. Look how long it's taking to break free from Microsoft.

Path dependence is a real bitch.

>the markets can go up forever with impunity!

"This is the end of Bitcoin"

Said the nervous neet with no investments for the seventh time this year.

That's pretty good considering the heavy resistance around $6800. The jews might spike it soon, which can send it up a few hundred dollars, but that will set off a huge sell stampede. So they don't seem to want to risk it based on the huge amount of sell orders hovering around $6850-$6890.

Bitcoin was a great buy if you got in early game. I sincerly hope tho that nobody actually thinks BTC will be allowed to grow? You really fucking think the banksters will let BTC become relevant?

It will never compete with fiat, because those printing fiat don't want it.