This bear....

>>3349389
so this should be a call to load up on your fav coins ive been buying all day

>>3349389
Agreed 100%. The entire premise of crypto is to create markets that are immune to central banking manipulation while also offering anonymity and all of the other good things that come along with blockchain tech. Having said that, the news out of China obviously shows just how fragile the crypto ecosystem really is. I can't figure it out for sure either.

One tinfoil hat possibility is that this crash was a coordinated sell-off triggered at the first confirmed sign of "really bad news" (Chinese ICO ban) by a lot of institutional investors (read: major banks) looking to create enough uncertainty to put the entire market into a prolonged bear to ward off individual investors over the next few months while they and the governments figure out a way to buy up more crypto and/or to buy governments more time to enact regulations that will ensure institutional money will be protected.

I find it hard to believe that most individual investors are this weak handed. There are a lot of stupid noobs buying high and selling low but they generally never own enough to trigger these kinds of crashes.

>>3349581
is there any doubt whatsoever that this is the case?

ICOs world is made of FIAT investments, if you cut them you cut the whole system, at the moment cryptosporidium are still too fragile and connected to "real" money.

>>3349389

"believing in blockchain technology" doesn't necessarily mean believing that a particular implementation - specifically Bitcoin - will hold any real value. Bitcoin might very well turn out to be a prototype that gets discarded in due course.

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>>3349604
I mean, it is what I think but there's obviously no way to prove it. It's really pretty hard to picture anything else though. What else could account for the explosion of money in crypto over the past year or so? Shitcoins with multi-million dollar marketcaps? Check. Multimillion dollar ICOs with no working products? Check. Bitcoin 5 fucking thousand? Check. That money was coming from somewhere and I don't think it was all NEETbux.

>>3349581
There are probably a lot of chinese investors panic selling which is triggering a bunch of other shorts from other countries' investors which cascaded into this shitshow right now.

But who the fuck knows. The crypto market is so heavily manipulated all the time its hard to tell.

>>3349801
Exactly. Bitcoin is so useless compared to the other possibilities of blockchain technology.

>>3349389
No fucking shit dumbshits I bought like 1000k more NEO holy fuck if you dont see that NEO comes out ahead after this temp regulatory review you gotta be fucking worthless as a human

>>3349812
thank mr skeltal

>>3349389
wouldnt it hurt ETH most of all

was reading about the bitfinex thing... plus, remember the fake money they supposedly injected into bitcoin...
could crash even more
but what can I say, I don't know much about this all. I'm just waiting to buy the dip.

>>3349389
>because there's no reason in this world anyway.
I'm sorry, but have you been paying attention to the world?
In 2009, the central bank, the federal reserve, set interest rates to 0%, thereby making the price of money "zero". When money is free, nothing means anything. Nevermind that
>1% of the labor force produces the food for everyon
>there's more vacant houses than homeless
>there's infinite clothing for anyone at goodwill, so long as you don't care about hot fashion

We're way past the hypersurplus guys.We only have prices and markets because you fuckers have no way to value yourselves and have identities and shit without measuring yourselves against others with your shekels.

We could have a lovely utopia of peace and love if you just got over yourselves and killed your king and loved one another.

But no.

Sorry.

We gotta always fight for infinite profits. For what? So you can have shinier iphones with even more delicate bezels? A 1000000000000 room mansion?

What the fuck are you fighting for? Your dad is proud of you. Your mother loves you. That's it. That's all you need. Be happy. Stop jewing everyone and live in peace.

>>3349389
>>3349902
You don't have to turn the entire world into clones of yourself. Difference is ok.

BTC hits $5k. That's a psychological barrier, a price that many believes signals a sure bubble. So a lot of holders sell.

Then a day or two later China announces they are regulating "effective immediately". Chinese speculators are spooped because they know the CCP has an eye on them now, they know the CCP doesn't tolerate anything that isn't in their control (that's why they persecuted Falon Gung, why the state has to back big corporations, etc.), and they know without a strong rule-of-law like the US and EU there's nothing stopping the CCP from making another "effective immediately" decision that you can't hold crypto. In China, the internet is heavily regulated and the government can act against you even on little or no pretext. So a lot of Chinese sell.

The crash has nothing to do with Chinese ICOs. It crashed because BTC hit $5k. It did the exact same thing when it hit $3k. There will likely be another dip when it hits $5k again and then another crash at either $6k or $7k

>the sad delusional state of coiners

your day of reckoning is here

>>3349389
welcome to sepculatove trading, there never was reason nor fundamentals

>>3349902
Wish there were more like you and me

>>3350034
dude i bought like 5 ETH at all time high in june, traded some shitcoins and am still up like 1500 USD what are you trying to say?

>>3350030
I personally think that China held off on the ICO news until they saw the pull back from the $5k barrier.

>>3349902
>Your dad is proud of you. Your mother loves you.
Anon...

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>>3349833
Was "temporary" mentioned anywhere in the media? Also, heard the chink authorities raided Neo offices. Can anyone confirm?

>>3349902
Bravo sir.

>>3349389
Only thing we need now to make this like last crash is r/bitcoin posting the Suicide prevention number and all the bitcoin is over articles on forbes

>>3349581
>this crash was a coordinated sell-off triggered at the first confirmed sign of "really bad news" (Chinese ICO ban) by a lot of institutional investors (read: major banks) looking to create enough uncertainty to put the entire market into a prolonged bear to ward off individual investors over the next few months while they and the governments figure out a way to buy up more crypto
>it is what I think but there's obviously no way to prove it. It's really pretty hard to picture anything else though.

wow please seek mental help.

>>3349581
My exact thoughts over the past couple days. If a government saying "no" to crypto causes a crash, then perhaps crypto isn't what it's supposed to be.

>>3349783
Yes but how does crypto remove itself entirely from fiat? It's frightening to think that the dollar/tether is now a stabilizer for the crypto market.

>>3349801
If it does get discarded, it will be for a truly anonymous coin.

did you guys forget that china is the richest country in the world?
its a big deal when they pull

>>3349389
WHY ISN'T DONG HAFEI SAYING ANYTHING??? JUST TELL US IT WILL BE FINE.

>>3350606

All they pulled was ico involvement. That's it

>>3350446
Yeah, surely this was all caused by a few NEETS and sweatshop working Chinese selling off their 3 NEO apiece en masse. Got any theories or just insults?

>>3350592
>If a government saying "no" to crypto causes a crash, then perhaps crypto isn't what it's supposed to be.
Exactly. If all it takes is the Chinese Central Bank putting a freeze on one aspect of cryptocurrency to send the market into a tailspin then crypto isn't ready for primetime (or was just heavily inflated to begin with).