Bitcoin Forum
October 31, 2024, 11:59:29 AM *
News: Bitcoin Pumpkin Carving Contest
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Crash: This could be the reason  (Read 366 times)
Mankov (OP)
Jr. Member
*
Offline Offline

Activity: 428
Merit: 7


View Profile
January 17, 2018, 05:45:23 AM
 #1

I`m not sure but a few guys on youtube say, that the crash is also caused by the shutdown of bitconnect. They had a huge marketcap, now they closed their lending-service.


https://coinmarketcap.com/currencies/bitconnect/
Neobugu
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
January 17, 2018, 05:49:45 AM
 #2

Well, their social meant, they are going under emergency mant due to an attack, saying that today (Jan 16th) will be offline

https://twitter.com/bitconnect
Mankov (OP)
Jr. Member
*
Offline Offline

Activity: 428
Merit: 7


View Profile
January 17, 2018, 06:10:29 AM
 #3

Well, their social meant, they are going under emergency mant due to an attack, saying that today (Jan 16th) will be offline

https://twitter.com/bitconnect

Unfortunately they closed their lending-service, today:

https://bitcointalk.org/index.php?topic=2769301.0
captin crunch
Sr. Member
****
Offline Offline

Activity: 630
Merit: 253



View Profile
January 17, 2018, 06:23:14 AM
 #4

Well, their social meant, they are going under emergency mant due to an attack, saying that today (Jan 16th) will be offline

https://twitter.com/bitconnect

Unfortunately they closed their lending-service, today:

https://bitcointalk.org/index.php?topic=2769301.0

Yeap, bad news Sad

TheGodson
Full Member
***
Offline Offline

Activity: 390
Merit: 163


View Profile
January 17, 2018, 06:33:58 AM
 #5

Could be good news in the long run. Bitconnect was a Ponzi scheme. The less scams in crypto the better.
Phoenixpple
Member
**
Offline Offline

Activity: 153
Merit: 10


View Profile
January 17, 2018, 06:44:13 AM
 #6

Bitconnect should be lost, it's a completely deception. That high price will eventually hurt investors who later enter the BCC. But I think there is a more convincing reason for the collapse, that is, at this stage, the valuation of all digital currencies is too high.
toygg
Sr. Member
****
Offline Offline

Activity: 306
Merit: 250



View Profile
January 17, 2018, 07:21:28 AM
 #7

Bitconnect should be lost, it's a completely deception. That high price will eventually hurt investors who later enter the BCC. But I think there is a more convincing reason for the collapse, that is, at this stage, the valuation of all digital currencies is too high.

BCC is entirely a ponzi scheme. All ponzi scheme is doomed to fail but I don't think it is the main reason behind the Bitcoin price's drop.

Could be good news in the long run. Bitconnect was a Ponzi scheme. The less scams in crypto the better.


There are still many other altcoins with similar ponzi scheme business model in the altcoin market out there. I wish they could be regulated but I doubt it is even possible. All this bad "sheeps" is ruining the image of cryptocurrency in the eyes of the general public.




Za1n
Legendary
*
Offline Offline

Activity: 1078
Merit: 1011



View Profile
January 17, 2018, 07:28:44 AM
 #8

I am sure Bitconnect had a little to do with it, but as with most things there are several factors. The Korean news of potential clampdowns are also a concern, and even the time of year has something to do with it.

For the past three years, during this time period in January, has typically been the low point in Bitcoin's price for those respective years, so it is also a seasonal low point.

I am sure things will be looking up in a month or two and will probably start cooking again when people get their tax refunds back and invest it in Bitcoin.
btcmegastar
Member
**
Offline Offline

Activity: 700
Merit: 12


View Profile
January 17, 2018, 07:32:11 AM
 #9

I don't mean this is the major cause because of course, it is generating a lot of volumes in the market. We have to find other possible reason for this down fall.
xiaowu55
Newbie
*
Offline Offline

Activity: 84
Merit: 0


View Profile
January 17, 2018, 07:44:33 AM
 #10

I don't think that the prohibition in individual countries will lead to the demise of bitcoin, which is the world's development, unless all countries in the world oppose it.
Clos Belmont ICO
Newbie
*
Offline Offline

Activity: 112
Merit: 0


View Profile WWW
January 17, 2018, 08:50:36 AM
 #11

Could be good news in the long run. Bitconnect was a Ponzi scheme. The less scams in crypto the better.


Agree.
lalabotax
Full Member
***
Offline Offline

Activity: 1582
Merit: 132


BK8 - Most Trusted Gambling Platform


View Profile
January 17, 2018, 08:59:53 AM
 #12



I don't know much about bitconnect, some of my friends are talking, that bitconnect is potentially on ponzi schemes. so I ignore it, now the decline happens not only on bitconnect only. almost all crypto has decreased drastically enough.

tiggytomb
Legendary
*
Offline Offline

Activity: 1848
Merit: 1000


View Profile
January 17, 2018, 09:07:13 AM
 #13

Bitconnect is a ponzi, I don't think it has a major part in the way bitcoin is looking right now but will play a part, every coin is getting hit recently.
kevingreen
Full Member
***
Offline Offline

Activity: 420
Merit: 101



View Profile
January 17, 2018, 09:30:48 AM
Last edit: January 17, 2018, 09:44:09 AM by kevingreen
 #14

Bitconnect is a ponzi, I don't think it has a major part in the way bitcoin is looking right now but will play a part, every coin is getting hit recently.

I agree  With You that Bitconnect is not the major cause of the price fall  the entire crypto market is bleeding from $800 billion plus down to $500 billion and, The market cap is so, down that Bitconnect alone can not cause that to happen.
Mankov (OP)
Jr. Member
*
Offline Offline

Activity: 428
Merit: 7


View Profile
January 17, 2018, 02:08:51 PM
 #15

I am sure Bitconnect had a little to do with it, but as with most things there are several factors. The Korean news of potential clampdowns are also a concern, and even the time of year has something to do with it.

For the past three years, during this time period in January, has typically been the low point in Bitcoin's price for those respective years, so it is also a seasonal low point.

I am sure things will be looking up in a month or two and will probably start cooking again when people get their tax refunds back and invest it in Bitcoin.

Yes it was a chain-reaction. BCC, Korea, New Year, panic selling,...
Anti-Cen
Member
**
Offline Offline

Activity: 210
Merit: 26

High fees = low BTC price


View Profile
January 17, 2018, 02:18:57 PM
 #16

Yes it just went below $10,000 but my post about it at
https://bitcointalk.org/index.php?topic=2771673.0

seems to be falling off the forum faster than Bitcoin price has fell today as if, well err..
as if old posts are being pumped to the top to protect gamblers from getting any bad
news.

Some members are clearly betting more than they can afford to loose and are becoming
abusive as if the numbers can lie

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
Cryptoman69
Newbie
*
Offline Offline

Activity: 67
Merit: 0


View Profile
January 17, 2018, 02:34:18 PM
 #17

Or just the other players, strategy. Their huge funds are used or the news is up for small players or holders to panic and sell their stored funds. I think maybe yes or maybe not. We hope will be back to normal again in the coming days.
mxyzptlkof6th
Member
**
Offline Offline

Activity: 294
Merit: 26


View Profile
January 17, 2018, 02:37:00 PM
 #18

I`m not sure but a few guys on youtube say, that the crash is also caused by the shutdown of bitconnect. They had a huge marketcap, now they closed their lending-service.


https://coinmarketcap.com/currencies/bitconnect/
Nice video. But, there are also other causes of this crash. Another one is the upcoming Chinese new year which will result into massive withdrawal of bitcoins and it will be like a natural dump.
jackchun
Sr. Member
****
Offline Offline

Activity: 332
Merit: 250


View Profile WWW
January 17, 2018, 02:49:45 PM
 #19

it is the result of Korean and Chinese government banning of bitcoin and exchange and mining activities.  Also adding the Chinese New year and the fear of many Asian bitcoin holders because Asian are more conservative in mind set sites they will sell most coins to prevent huge loss.

Catch-22
Member
**
Offline Offline

Activity: 364
Merit: 16

https://crowdsale.network


View Profile
January 17, 2018, 03:12:16 PM
 #20

Could be good news in the long run. Bitconnect was a Ponzi scheme. The less scams in crypto the better.


I agree.  One less scam is better!

        CROWDSALE   ▐   PLATFORM aimed to find investors & find specialists
  ████████████████████████████████   [ SIGN UP ]   ███
            NETWORK   ▀▀▀▀   ◥ facebook     ◥ telegram     ◥ twitter
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!