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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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criptix
Legendary
 Offline
Activity: 2464
Merit: 1145
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January 16, 2018, 08:42:14 AM |
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jojo69
Legendary
Offline
Activity: 3150
Merit: 4309
diamond-handed zealot
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January 16, 2018, 08:47:08 AM |
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Romanknickl
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January 16, 2018, 08:51:13 AM |
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Never a dull moment. Weak hands are panicking after some old whale placed a market order?  I agree! We have reached the bottom. double bottom. great time to fill the bags. The price is just dropping caused of the bad news. If the panic is over, the price will recover VERY FAST! I bought in before it's too late!  |
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Lopumbo
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January 16, 2018, 08:56:14 AM |
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I agree! We have reached the bottom. double bottom. great time to fill the bags. The price is just dropping caused of the bad news. If the panic is over, the price will recover VERY FAST! I bought in before it's too late! like at 15k$,14k$,13k$ and 12k$? you circle-jerks amuse me |
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Higher Altitude
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January 16, 2018, 08:58:09 AM |
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Never a dull moment. Weak hands are panicking after some old whale placed a market order? Someone got rich. @whalecalls 22m22 minutes ago Okcoin $BTCUSD Quarterly futures has liquidated a long position of 111424 contract at 12,069.65 - 2018-01-16 16:30:04 You mean someone sold 111424 BTC in one fell swoop? Sounds awfully close to the amount the Winklevoss have been holding.  |
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toknormal
Legendary
Offline
Activity: 3066
Merit: 1188
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January 16, 2018, 09:02:40 AM |
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Bottom is either $7500 or $4300.
That bounce at $11700 was pretty peely-wally.
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Higher Altitude
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January 16, 2018, 09:04:04 AM |
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You mean someone sold 111424 BTC in one fell swoop?
Would explain the sudden plunge in price. Positive. |
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Spaceman_Spiff_Original
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January 16, 2018, 09:06:16 AM |
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Never a dull moment. Weak hands are panicking after some old whale placed a market order? Someone got rich. @whalecalls 22m22 minutes ago Okcoin $BTCUSD Quarterly futures has liquidated a long position of 111424 contract at 12,069.65 - 2018-01-16 16:30:04 You mean someone sold 111424 BTC in one fell swoop? Sounds awfully close to the amount the Winklevoss have been holding. 1 contract does not equal 1 btc.... |
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bitserve
Legendary
Offline
Activity: 1820
Merit: 1464
Self made HODLER ✓
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January 16, 2018, 09:11:16 AM |
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Never a dull moment. Weak hands are panicking after some old whale placed a market order? Someone got rich. @whalecalls 22m22 minutes ago Okcoin $BTCUSD Quarterly futures has liquidated a long position of 111424 contract at 12,069.65 - 2018-01-16 16:30:04 You mean someone sold 111424 BTC in one fell swoop? Sounds awfully close to the amount the Winklevoss have been holding. 1 contract does not equal 1 btc.... A contract is $100 if that hasn't changed. So.. $11.142.400 That's the total value of the position that got LIQUIDATED. So that guy is a few (depending on leverage used) millions poorer not richer. |
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BitcoinBunny
Legendary
Offline
Activity: 1442
Merit: 2493
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January 16, 2018, 09:13:55 AM |
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I still don't get how pulling 1.3 billion out of crypto gives a massive drop of a total $100 billion+ within such a short space of time.
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Higher Altitude
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January 16, 2018, 09:17:38 AM |
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I still don't get how pulling 1.3 billion out of crypto gives a massive drop of a total $100 billion+ within such a short space of time.
It's probably not the reason. And as someone pointed out 1 contract is 100$, not 1BTC so it's not $1.3B. But I think if it was $1.3B it could have a similar effect when there is low volume imho. I remember last year around the same time the same thing happened and BTC crashed quite hard and took until February to recover. Now looking back at the chart it was just a speedbump. |
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BitcoinBunny
Legendary
Offline
Activity: 1442
Merit: 2493
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January 16, 2018, 09:19:44 AM |
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I still don't get how pulling 1.3 billion out of crypto gives a massive drop of a total $100 billion+ within such a short space of time.
It's probably not the reason. And as someone pointed out 1 contract is 100$, not 1BTC so it's not $1.3B. But I think if it was $1.3B it could have a similar effect when there is low volume imho. I remember last year around the same time the same thing happened and BTC crashed quite hard and took until February to recover. Now looking back at the chart it was just a speedbump. Yeah I guess volume is the issue here indeed. a $10K BTC is still an expensive BTC which most people cannot afford to buy a whole one of I would have thought. Onwards and upwards (Eventually & hopefully). |
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Lontonbit
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January 16, 2018, 09:20:24 AM |
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South Korea said the might ban bitcoin trading again. That caused it.
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HairyMaclairy
Legendary
Offline
Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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January 16, 2018, 09:24:59 AM |
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I’m feeling better about selling down some at $13,700.
I’m ready for winter even if I am still 80% long. Scratch my back and call me a polar bear.
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Lontonbit
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January 16, 2018, 09:32:36 AM |
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Doesn't seem to be excelerating, it's actually bouncing |
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Higher Altitude
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January 16, 2018, 09:35:52 AM |
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Doesn't seem to be excelerating, it's actually bouncing At least we have front row seats. And tell stories to our great grandchildren about how we were there. |
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BitcoinBunny
Legendary
Offline
Activity: 1442
Merit: 2493
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January 16, 2018, 09:36:28 AM |
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Seems to be FUD upon FUD looking at media outlets this morning.
But then the media spreads FUD about anything these days when you think about it; going to concerts, travelling, even leaving your own house (or not).
I'm HOLDing regardless. They can stick their FUD up their backsides sideways.
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