Yeah well some people have lost six figures. I get paid BTC every month, I never buy BTC. I get more every month at whatever the going rate is. So this could be catastrophic for me. I haven't sold almost any.

This is probably my fault, as I bought CNET and GBTC stock for fun.

Your asses aren't kicked until you sell low. If I were paid in BTC I guess I'd be OK with it since less money buys more when it's low, since you're not selling anyway.

I haven't sold anything either, but I have picked up an extra 8 ETH free of charge by trading the differences in rate of drop between ETH, XRP, & BTC recently. But during that time my overall account has dropped $50K. Not ideal obviously, but my intentions have always been to hold for 2 years, and they haven't changed during this fade.

Congrats?

If the stock market lost 50% of its current value, it would be called a crash.

Just bought more GBTC. Waiting to see if BTC goes to 6K before I buy more.
I'm losing out of my ass right now! "buy the dips" they say.

If we do not plan to sell, do you think it would be wise to put most of your crypto in Ethereum? I'm leaning towards doing that.

I'm at 80% Bitcoin, 10% Ethereum, 10% Alts.

I don't know how it'll all play out but I'm noticing that they all seem to rise and fall around the same mean of BTC.

I'm 70% GBTC. 25% Alts, 5% ETH.

Got tired of putting money into Coinbase, etc. Process takes too long.
May do it once Robinhood allows for BTC trading.

Just be careful with GBTC. It's constructed with a series of accounting fictions and nobody knows how they will hold up. A bunch of people pulling out at once, which would cause a 20-30% drop in a normal asset, could cause it to fold completely and be worth zero.

Noted! In it now... I have no choice but to hold. If I lose it all.... I lose it all. Currently I'm even with it for the year with today's fiasco (putting things into perspective).

Hoping GBTC is at the bottom. there's a guy getting ready to come on CNBC to explain how Bitcoin is at the bottom. Hope he's right. GBTC will go up when bitcoin goes up.

GBTC has over 22,000 followers on stocktwits. Lots of investors in it.

Sounds like things are starting to tank. Report says lost 100 billion in one day on cryptocurrency.

https://www.cnbc.com/2018/02/02/bitc...cy-market.html

no, things arent tanking they are just normalizing more then likely. Coins with actual uses and tech behind them will still be fine. Coins like bitcoin will probably drop off. I am holding all of my ripple and ethereum and going to play around with the rest.

Bitcoin plummets below $8,000

Bitcoin's value dipped below $8,000 this morning — the first time since November 24, according to CNBC — just hours after the cryptocurrency made news after going under $9,000. After the news that Bitcoin had headed south of $9,000, CNBC branded the range of $9,000 to $10,000 as "a difficult one for bitcoin to break below" after its surge over $10,000 last year.

Why it matters: Bitcoin's fall comes with a simultaneous drop in cryptocurrencies worldwide thanks to fears of increased regulation of the technology — along with worries about market manipulation. The global cryptocurrency market cap fell by $100 billion in the past 24 hours with Ethereum and Ripple registering 22% and 32% drops respectively.

https://www.axios.com/bitcoin-plumme...e2c611715.html

lol ripple

at anytime a bank can make their own XRP

i do not see ripple as a good coin long term, at all

bitcoin still has that name brand, even ethereum to some degree. bitcoin gets the most developers. the most people working on it. the most press.

the reason so many love cryptocurrency has everything to do with NOT being utilized by banks or any centralized force. being psuedo anonymous. secure store of value. bitcoins best attribute is to become a rival to gold.

sometimes tech doesn't even make much of a difference, at least in speculating price of a coin.