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Wow, Bitcoin crashes 10% today and 20% in a week

That's gonna hurt quite a few people

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By Justin Bryant
19th Nov 2018 16:47

"The cryptocurrency industry has now lost more than $660 billion in value from a January peak, according to data from CoinMarketCap.com. Bitcoin is down more than 70 percent from its December 2017 high, the data show."

https://www.bloomberg.com/news/articles/2018-11-19/cryptocurrencies-falt...

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By Accountant A
19th Nov 2018 16:51

Cryptocurrencies: "Everything You Don’t Understand about Money, Combined with Everything You Don’t Understand about Computers"

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By carnmores
19th Nov 2018 17:21

WHO CARES?

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By thestudyman
19th Nov 2018 17:44

carnmores wrote:

WHO CARES?

Those entrepreneurial types who work in start ups and think a wonderful financial strategy is to invest company money in crypto currency, even after understanding the risks and knowing the company cash coffers are already bleeding dry.

And have a DLA which they owe the company almost £400,000

Clearly I've never seen this in practice, or have I?

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By carnmores
19th Nov 2018 18:03

sole director? still don't care

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By carnmores
19th Nov 2018 18:16

last desperate throw of the dice. was it an actual loss on an investment or a derivate style transaction? what greed...

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By thestudyman
20th Nov 2018 08:40

Unfortunately in that case, not a sole director! He was the sole shareholder though. But the other directors did not seem to take an interest in what's going on.

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By Cloudcounter
19th Nov 2018 20:18

Mistaken identity. They thought they were selling Britcoin.

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By bernard michael
20th Nov 2018 09:50

That'll hurt a few criminals who use it to launder their ill gotten gains

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By Justin Bryant
20th Nov 2018 10:38

Today it's down around 30% in a week.

https://www.theguardian.com/technology/2018/nov/20/bitcoin-price-plunges...

The cryptos had (amazingly) a combined value of almost USD$ 1 trillion around 10 months ago and it seems 80% of that has now disappeared in a puff of smoke, so that is an awful lot of fast wealth destruction. The analogy with the tulip bubble seems very apt now.

https://www.theguardian.com/technology/2018/nov/20/bitcoin-price-plunges...

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