Just a reminder that crashes like this are common followed by a new ATH. Be patient...

You can't build a currency, or a future, on the idea that losing 75% of it's value in less than a year is business as usual

this

>You can't build a currency, or a future, on the idea that losing 75% of it's value in less than a year is business as usual
Gold prices have dropped more than 10% in a single day before. Pull your head out of your ass.

Most people don't own gold, either.

Name a currency (other than from some third world shithole) that is as unstable as bitcoin, and maybe we can talk.

STOP LOSS - NONE

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no brainlet, bubbles happen because crypto marketcap is far higher than where it is rn

as more people realize where it's leading, its marketcap grows exponentially.

it'll settle down once it reached around $70trillion (round stocks)

until then it's bubbles.
new millionaires will always cash some out, not everyone can wait 20 years

># of years to new ATH
.5 years

gold and silver were also shit currencies. countries went to war for the stuff because they couldn't get enough liquidity to grow their economies.

People still like their fiat currency. One day it well end. Crypto is the future

>crashes of 88% of the purchasing power of something are very common.
>j-j-just wait for moon!
>lambo!
>am I right, you guys?
>guys?

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cope

bigger the market cap the more stable it will become.

well it goes a few hundred of few thousand percent up between aths so it's kind of normal.

Reminder Bitcoin has always retested or came close to it's previous ath before making a new ath I will continue to be a bear until then

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Crypto has no future. The collapse of bitcoin will sink the other 200 shitcoins out there, and none of them will survive.

The early adopters who were all heart and no brains will be wiped out, and they will be out of the market forever (having totally lost trust).

With all of those investors gone, bitcoin will settle as some sort of payment method for the illegal black market; and which point miners and exchanges will be targeted by the justice department for RICO and obstruction. And that will be the end of bitcoin.

>new ATH
Not for another 2-3 years if ever. Actually, fuck it, probably not. For run like last year to happen again the entire planet would need amnesia. Its not going to happen again. This sell off is people who bought last year figuring that out as we speak.

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I remember it crashed to actual 0 for a short while.

>If

volatility is not the bug, its the feature.

youtu.be/EbYPn_4m7tQ

karatbit.com
karatbit.exchange.

Alot of shitcoins will go under. XRP is being used, so that will stick around.
But really my man, can you honestly tell me that the US dollar will never fail. May I remind you as well That the dollar has been a slow sinking ship for awhile now

>duuuur it will happen again derp

You're missing the forest for the trees if you think crypto will save you from a dollar collapse.

If the dollar collapses, it won't be like 2008, it will be like 395 when the roman empire collapsed. That means starvation, loss of running water, but especially the lose of electricity and a stable internet in the US.

Right now, 90% of all internet traffic flows through underwater cables. This image shows those cables. If the internet in the US goes down, the internet in the world goes down.

And how, exactly, do you plan on using crypto if you don't have electricity or access to the internet? This flaw is the same as those who hold physical gold in some overseas safe; it's great on paper but if the shit were really to hit the fan, it's of no use.

If the US dollar were to fail, you'd have far bigger problems than wondering how to trade your crypto

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>muh watercables
>what is wlan

Ya, and where is your miner?

On a side note, do you think we are getting close to a global disaster?

you don't *use* hedges during the collapse.
people would hide their gold and miraculously find it again when things are stable after it had sunk in a tragic boating accident.
let electricity go out, then. it will return, and so will your wallet.dat and your passphrase.

Global economic disaster? Maybe. As strange as it sounds, a lot of it will depend on whether the Canadian housing market continues to collapse, and whether KSA and China finish their deal

Lol so how exactly will a dollar crisis cause mass starvation and the collapse of our infrastructure? The scenario you're describing is more along the lines of what would happen during nuclear war, not the collapse of a currency

not surprised Jow Forums knows nothing of economic history

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> dollar collapses
> companies savings become worthless
> credit markets collapse
> business can't buy stock to resell
> mass firings nation wide, as all business shut down
> with no pay, workers don't show up even if they do have jobs
> looting of grocery stores
> routine maintenance of power grid stops for lack of workers
> No one is there to flip the switch at a power plant or dam
> causes a cascade failure like 2003
> government no longer has money, can't pay workers, can't send out social security checks, welfare payments, payments to now shut companies
> starvation as grocery stores run out of food
> breakdown of law and order & society as it becomes every man for himself.

It's the US dollar and fiat that gives Bitcoin real world value. Nobody is buying their groceries in crypto. They use fiat and debit cards linked to central banks. Crypto is only 10 fucking years old. The credit card took much longer before it finally became accepted and used by billions of people.

Which direction are we going in in society? Are we going back to living a homesteading type of lifestyle or is society growing much more tech sound? The latter yo.

If we have a worldwide economic collapse, it'll be when the banks and the ones who created fiat are safe and sound. The money we all exchange for goods and services is backing up bitcoin.

The only reason why anyone buys crypto is to eventually see its fiat value soar. If you really gave a fuck about cryptocurrencies and bitcoin for the future, you'd never cash out back to "worthless fiat" roght? Well everyone fucking did and still does.

Fiat is king. They won't allow the central banks to completely collapse. Crypto marketcap has never touched a decimal of what every other market is made up of. Bitcoin is so minuscule. History has repeated itself and new bubbles form around the halvings.

>And how, exactly, do you plan on using crypto if you don't have electricity or access to the internet?

The world we live in today cannot exist without the internet moving forward. Society is staged and the elites are manipulating everything.The internet goes out when they say so. Too much of the world relies on the internet for it to ever go out. Unless a major world war were to happen like cyberwarfare and countries attacking one another digitally. Like wiping out a countries database or something.

it's a game of accumulation
t. Turkey prior to thanksgiving dinner

>Too much of the world relies on the internet for it to ever go out.

You act as though they would have a choice.

~$800 is the bottom.

Infrastructure doesn't run by itself. You need workers. The workers need to be paid with money. The dollar is so important that US uses its military might to prop its value up.

You guys are literally retarded if you think this will happen. There's no historical precedent for an event like this playing out as you just described. When has a currency collapse in a developed country ever lead to a complete and total shutdown of an economy? Even if the shit hit the fan the government will intervene and maintain order and continuity of basic infrastructure and services. Even during WWII when countries were in a state of total war the lights didn't go out until infrastructure was literally destroyed.

I'm not saying everything would continue as normal, but electricity and water sure as fuck aren't going to shut off either

It depends on the political climate of the West when it collapses. Do you think all these Blacks, Muslims, Mexicans, Africans are going to play nice when everybody is unemployed?

If the dollar collapsed, it would be different from the Venezuelan crisis or even the Weimar Republic, because in both of those cases, there were still other nations with wealth which provided overall world stability.

Because the US dollar is so widely held worldwide, and because so many nations need trade with the US for their own survival, a collapse of the US dollar would cause a cascade failure worldwide, and every other currency in the world would collapse.

Without anyone to save them / bail them out, the world would fall back into the dark ages.

True that economic collapse has never caused total civilization crash.
But it quite often led to countries crumbling and being consumed by other more economically prepared countries.

Id honestly prefer that countries disappear at all, but that requires technological progress and individual prosperity rivaling that of super powers today.

The stock market in 1929

What do you mean by dark ages?
Like horses and manuscripts? That is ridiculous. We could get back to industrial society, but people nowadays have too much knowledge on their hands to fall back to dark ages.

Fiat currencies used to be super unstable losing 70% of its value in a few years

Perhaps society needs a downtrend? We have been innovating greatly the past 200 years.

Cope, this will be the final nail in the coffin for crypto. You dipshits shouldve got out when it ATH’d

I think you'd see the rise of a supranational governing authority that would stabilize things, though at the expense of national sovereignty and the civil liberties those states provide. Probably see the introduction of a new global currency too. I doubt this will happen unless (((they))) deliberately engineer such a collapse though. When the USD becomes untenable they'll crash it intentionally to do the above artificially before they allow an actual outright implosion of the global economy.

I've often joked that the campaign to stop smoking has been so successful that many people (because they no longer carry lighters) would be incapable of creating fire if the shit hit the fan.

Here's what I mean by "dark ages"....

If the grocery stores were to run out of food (which would happen and has happened in countries like Venezuela)...

If the electricity and natural gas went out in your city for years, like it did in Iraq at the height of the war....

If your furnace stopped working and it's winter time....

How would most people survive? Sure, you could talk about growing crops, but even if you could find the seeds (and a way to pick them), what are you going to eat for the 6 months it takes to grow your crops?

With gas stations shut down (no fuel, no way of buying or selling, no electricity to run the tanks), what happens to american society when they can no longer drive?

If the shit really hit the fan, the only group who would survive is the Amish. They've been off the grid for hundreds of years.

>4083
it's over user it's 37xx now for the 7th straight red day every day has been an ATL.

Sort this by the 24 h change and look at the bloodbath across all of the coins

coins.live/

Bitcoin used to be .8 cents. It started with a market cap of 150,000.

I sell some services for bitcoin and just switch it out to fiat as it comes in. Is anybody foreseeing a situation coming up where I will no longer be able to find buyers for my bitcoin and can no longer reliably switch it to fiat?

Noone ever needs a downtrend, they just happen.

It'll be actually quite fun to be a person who was formed in a world of
> we are running out of oil
> we need to explore space
> we spent literal trillions on the military we will never use in full
> earth is overpopulated
> producing a 2hr entertainment costs more than a truck manufacturing business
if we get to a downtrend you are talking about. Most our problems will magically cease to exist.Unlikely
Supranational gubmint is a costly affair.
You'll need to be more economically viable than any of your adversaries on each step of conquer.
Easier said than done in a world where everything needs massive investment before it starts working the way it was intended to.
> new global currency too
Could be a PM currency.
Yet crypto is fine too.
You can actually sign txs and give em out printed as a payment, if it comes to muh underwater cables.
And you could synchronise your accounts at local crypto centers that have the means to exchange information worldwide.
Sure, that is centralised, but an alternative would be paper IOUs, which would be much less practical for accounting and exchanging.
Also, underwater cables are that thick and expensive to support, cos we have massive Internet appetite rn. If things go south Internet will be back to plain text format -- total down scaling, which would be much cheaper to support in general, but still prohibitively expensive for individuals. Which in turn would allow those who have the practical skill to establish long distance communication be authority figures and somewhat run the things

Lol bitcoin will never reach a new ATH
In fact 2018 will be the last time ever it's not tripple digits

What about the other coins?

I just bought a 100$ worth of ZRX for shits and giggles at .34$ a coin. I will just hold and besides its for fun. Reality is that I am sitting comfy in savings and if the dollar does not collapse in 3 years I will own a house and property without any debt.

>mfw ETH went from $1400 to $100 and people are still fucking holding
kek

FUCK YOU!

>like it did in Iraq at the height of the war.
Ye, at war.
If things are peacuful, ppl will be able to reestablish modest infrastructure.
> If your furnace stopped working and it's winter time...
Time to scavenge, chop wood, burn books, or buy lumber from a guy who managed to establish a sawmill in these hard times.
> If the grocery stores were to run out of food
Ppl could live out a few months on a dire diet. Then even those who are still in cities will grow cabbage where lawns were.
> even if you could find the seeds
Well, seeds are not that hard to find

> what are you going to eat for the 6 months it takes to grow your crops?
Yep, that'd be hard times. Apart from scavenging for preserved food, you could grow shrooms, as they grow quite fast. Also, farmers always have cattle. They will have little means to feed and care for them, which will lead to an excess of meat. Markets will be flooded with cheap meat first months after the shtf
In this case Id be more concerned about having a stock of salt. By preserving fresh meat yourself, you could buy meat low and sell it high (in exchange, for example, for logs for your empty furnace)
I'd really suggest you to learn where are the closest salt mines to your place

> (no fuel, no way of buying or selling, no electricity to run the tanks)
Electricity can be generated by anything that moves be it human, river or wind
Gas could be replaced with wood gas, which could be a byproduct of wood coal production
Speaking, of coal, steam engines can run on anything that burns
As for liquid fuel, alcohol can fill this niche. Sure, most cars won't run on it, but there will be nothing to stop engineers from filling the market with engines running on any inflammable liquid
> the only group who would survive is the Amish
Ye, they will have the lead. But that doesnt mean that others wont be able to catch up
Humanity has a lot of knowledge at this point how to produce and engineer things

If shtf, we wont be totally fucked

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>They will have little means to feed and care for them, which will lead to an excess of meat. Markets will be flooded with cheap meat first months after the shtf

Unlike people, cattle can subsist on grass, hay, etc. They won't slaughter all cattle just to feed people for a day. If anything, the price of meat would shoot through the roof.

>Sure, most cars won't run on it, but there will be nothing to stop engineers from filling the market with engines running on any inflammable liquid

If the whole economy collapsed, then the supply chain for making engines would collapse too. At best, the engineers would ghetto rig some steam engines as these would truly run on any time of flammable material.

>As for liquid fuel, alcohol can fill this niche.

Alcohol-powered vehicles already exist, but it would face the same problem as cars that run on oil was the infrastructure supporting these vehicles collapse.

>Humanity has a lot of knowledge at this point how to produce and engineer things

You still need materials, energy, and all that.

> They won't slaughter all cattle just to feed people for a day.
Yep, but they'll understand that cattle is a liability and contains valuable meat they can trade for other goods.
So they'll first sell some cattle.
Then they'll realise that they can't produce as much hay or grain to feed the cattle during the winter with their reduced productivity (higher fuel costs, expensive equipment repairs, tedious hand labor), so they'll decimate the herd at some point. That may be a gradual process or a surging one, but still at some point there will be more meat than there is capacity to preserve it, which will make it get even cheaper than increased supply caused it to be.
That is when you have to up your salt and seasoning game.

> the supply chain for making engines would collapse too
Sophisticated super efficient engines for Mercedes, yes.
Basic general purpose engine? Probably not.
There will be tons of metal carving machines and people who know how to operate them.
They will make you all the pistons and bearings and cases you want, if you give em metal and some food for the work.
Where to get metal? Well, it is everywhere, just melt it. But for that you'll need to pay the furnace running guyz and supply coal for them.
An engine will be more bothersome to make than expensive, but you'll always be able to turn it into a steady income source by renting it to farmers for plowing, for example. And they'll need that plowing if they want to quadruple their profit by sowing the whole field.

> the infrastructure supporting these vehicles collapse
The infrastructure can not collapse totally, unless it is deliberately destroyed.
It can downsize greatly though. But still it will have some capacity.
You are just too used to seeing vehicles everywhere and see the amount of resources it takes to maintain them NOW.
And now everyone owns them, even if they don't really need them. If it gets harder to get and operate a vehicle individuals will likely be the first to stop using them. But some businesses still will be able to run trucks for profits.
If the collapse intensifies, these businesses will reorganise to decrease the required transportation distances. We will see more economic centres forming near resource extraction sites. Truck services will rise as other companies wont be able to afford their own vehicles.

There will always be greed driving people to look for ways to increase their operations productivity. No economic collapse can stop that greed.
It may take time until someone figures a viable way to use vehicles, but remember that somehow in 20th century ppl did it. And back then ppl knew much less about long distance shipping and vehicle production than now.

It will take killing evrb who knows how to design a car or can comprehend the technology described in books and blueprints to stop using cars.

Waiting for it to go to $500 a coin before buying anything.

>manuscripts?
kek

only if you compare relative to the "ico" of btc, which is a really unfair comparison

pls explain a bit better than that

>Most people don't own gold, either.
Most people arent kings and most people are fucking goy paupers happy to work check to check for eternity via direct deposit from their masters. Smart contracts are just going to make those deposits more efficient and save the masters money.

look at all those faggots wearing hats

haha fucking amerimutts

This one is different. We are in a death spiral and will go to zero. Mining will become so unprofitable that it will never recover.

> countries went to war for the stuff because they couldn't get enough liquidity to grow their economies.
the absolute state of lolberts who advocate for "Sound Money (tm)"

you understand that difficulty adjusts, right

i mean this is basic to cryptocurrency's functioning, surely you understand

I dont wanna wait 3 years

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I heard there was another drop in Bitcoin and i came to see the carnage. Never been to this board before.
Dear god.

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>Mining will become so unprofitable that it will never recover.

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Sorry, but people are finally realizing that these currencies simply have no real long term value. They are gimmicks that have had their heyday, but that time has come and gone and there are much better ways to invest your money then dumping it into these scams.

t. no-coiner master race that never bought into the hype.

Make that five years, bucko

The general public has lost its interest in crypto it's over boyo

>If the internet in the US goes down, the internet in the world goes down.
Hahahajaha jesus christ dude, read a book.

Joining the nocoiner club. I could have entered in September 2017, didn't and never regretted it. I would have lost money over a scam industry.

At least, the massive lisers who thought their lagic internet money would get them a life of mexican hookers and blow (real dream here) will now get my Carl's Jr order on time.

>t. what self important americucks really believe

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Have you seen the average fucking attention span? With logic like that it will only take months not years

Confirmed for never having seen the Amish. Those fuckers even have CNC lathe machines

You seem to have messed up your periods.
Is the second crash (marked 04/10/13 to 04/12/13) meant to be 2012 instead? Right now it's ending after the third crash (11/29/13) begins, which makes no sense at all.
You also have to remember what lead to the high at the end of 2013, the Cyprus economy crashing. People were buying up bitcoin because they were afraid their money would become worthless which drove the price up. Banks were closing their doors and otherwise trying to prevent people withdrawing money.

Just boiling this down to numbers is a pretty shallow look at the picture. Basically you're hoping that there's another economic disaster that'll cause demand to convert their savings from fiat to push the price back up again.

>you understand that difficulty adjusts, right
Difficulty INCREASES over time because the volume of remaining acceptable hashes DECREASES as they are found.
You can't just change the acceptable hash requirement on the fly. You'd have to fork the coin to do so, which is a big deal.