did people lose their shirt of crypto or is that just memes?
seeing alot of crying going on right now
26-30, M
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EuphoricTurtle · 41-45, M
It's pretty volatile right now
[quote][u]Bitcoin plunges on fears of regulatory crackdown
Digital asset market under intense pressure after China warns on use of cryptocurrencies
[/u]
Cryptocurrency markets tumbled in chaotic trading, and related stocks were hit, after Chinese regulators signalled a crackdown on the use of digital currencies that have soared in price this year.
Bitcoin tumbled as much as 30 per cent, with frequent rapid lurches lower, before recovering half its losses to trade at $37,000.
Other digital coins were also hit by heavy selling, with ethereum, one of the best-performing cryptocurrencies in the past month, losing a quarter of its value. [b][u]More than $8.6bn of positions have been liquidated over the past 24 hours, according to data from bybt.com, a cryptocurrency data provider.[/u][/b]
The sharp moves came after the People’s Bank of China warned financial institutions about accepting cryptocurrencies as payment or offering related services and products, amplifying concerns in this freewheeling asset class that regulators could tighten oversight around the world.
Elon Musk, Tesla’s chief executive and an outspoken cryptocurrency enthusiast, last week reversed course on accepting bitcoinas payment for Tesla’s cars on environmental grounds, also sharpening worries about the long-term future of the asset class.
[/quote]
https://www.ft.com/content/c4c29bb3-c8ee-454c-a2dd-eac9f644007f
[quote][u]Bitcoin plunges on fears of regulatory crackdown
Digital asset market under intense pressure after China warns on use of cryptocurrencies
[/u]
Cryptocurrency markets tumbled in chaotic trading, and related stocks were hit, after Chinese regulators signalled a crackdown on the use of digital currencies that have soared in price this year.
Bitcoin tumbled as much as 30 per cent, with frequent rapid lurches lower, before recovering half its losses to trade at $37,000.
Other digital coins were also hit by heavy selling, with ethereum, one of the best-performing cryptocurrencies in the past month, losing a quarter of its value. [b][u]More than $8.6bn of positions have been liquidated over the past 24 hours, according to data from bybt.com, a cryptocurrency data provider.[/u][/b]
The sharp moves came after the People’s Bank of China warned financial institutions about accepting cryptocurrencies as payment or offering related services and products, amplifying concerns in this freewheeling asset class that regulators could tighten oversight around the world.
Elon Musk, Tesla’s chief executive and an outspoken cryptocurrency enthusiast, last week reversed course on accepting bitcoinas payment for Tesla’s cars on environmental grounds, also sharpening worries about the long-term future of the asset class.
[/quote]
https://www.ft.com/content/c4c29bb3-c8ee-454c-a2dd-eac9f644007f
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@SooperSarah HODL diamond handsss
NoahB · 26-30, M
@Elessar im so tired of this funny money bro. If you'll allow me to get a little conspiracy theory-minded, I feel like most of this crypto stuff was invented as a way to rip average people off and circumvent their desire to push for fairer labor practices by dangling a big shiny gold coin in front of them.
Elessar · 26-30, M
@NoahB I don't know if that's the reason why it was invented, and I doubt, but it might be the reason why it doesn't get "shut down".
Yeah, I know it's decentralised, and that you can't really shut it down but if they wanted they could make the life of miners and exchangers a lot harder, like they did to Torrent/P2P communities, and in a similar fashion most people would move out of cryptos too.
If it's legal, it's intended.
</conspiracy>
Yeah, I know it's decentralised, and that you can't really shut it down but if they wanted they could make the life of miners and exchangers a lot harder, like they did to Torrent/P2P communities, and in a similar fashion most people would move out of cryptos too.
If it's legal, it's intended.
</conspiracy>