Bitcoin Drops Back Below $6,000 as 2018 Loss Approaches 60%

Re:Bitcoin Drops Back Below $6,000 as 2018 Loss Approaches 60% by CaptainZapp on Thursday June 28, 2018 @09:42AM (#17416748)

I could be wrong and certainly was wrong before, but I believe that what we're seeing here is the biggest game of musical chairs, ever.

There will be a lot of hurt when the music stops, represented by not finding anymore "investors" to fuel the hype.

In other words: I think you're spot-on!

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Re:Bitcoin Drops Back Below $6,000 as 2018 Loss Approaches 60% by rsynnott on Thursday June 28, 2018 @10:26AM (#17417111)

> but I believe that what we're seeing here is the biggest game of musical chairs, ever.

Nothing like it; the amount of money invested isn't huge. It's nowhere near as scary as the various national mortgage bubbles in the noughties. When it collapses, damage will be limited.

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Re:Bitcoin Drops Back Below $6,000 as 2018 Loss Approaches 60% by CaptainZapp on Thursday June 28, 2018 @10:57AM (#17417357)

On reconsideration you definitely have a point here.

I still believe there will be a lot of hurt for a lot of people. As I saud I may be wrong and virtually slap myself for not having jumped into the fray, when it was "only" 6000$.

(small edit: Typos [damn mobile screens])

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Re:Bitcoin Drops Back Below $6,000 as 2018 Loss Approaches 60% by rsynnott on Thursday June 28, 2018 @08:24PM (#17421525)

Oh, sure, it’ll hurt a lot of people who gambled on it. It already has. But it’s not a systemic risk.

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