iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
17,974 Blog Posts

CRYPTO WORLD IS GETTING FUCKED UP NOW

Long ago when I first started blogging finance, ABSOLUTE faggots were up in arms because I dared to curse on the internets. Did you know that was one of the reasons why The Fly became popular — because all of the priggish liars were relieved to read someone who used words they used every 5 minutes in the office? Brokers would pretend to be proper outside the office, but inside were savages.

Speaking of savage, no more than 2 days after I warmed to cryptos, the entire sector gets destroyed. No worries, the HODLers will save the day.

The complex is getting cracked asunder, led lower by Ripple.

Overall market cap is now $682 billion, which is down from ~$800 billion. I cannot and will not call for the destruction of the complex now, especially since people can’t even buy if they wanted to. Did you know that? The demand to open accounts is so great, exchanges are closed to new accounts.

Buy dips.

The crypto proxies are mixed, with gains in DELT, BURG, CNET and OTIV, with losses in DPW, NXTD, MARA and RENN.

Overall, markets are a little weak. Go eat a sandwich.

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16 comments

  1. infinitezuul

    If the CFPB isn’t out there shutting down Ripple – what is the point of the agency?

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  2. sarcrilege

    shenanigans

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  3. Marc David

    I’d like to buy the dip… especially XRP

    Grab a few SC coins so I can play with this awesome decentralized cloud storage!

    Oh but alas.. fiat to crypto is bullshit and takes forever to do ACHs moves. Wire? Good luck. If you have an exchange account with dry powder to take advantage.. kudos. The rest are just sitting wishing they could BTFD but can’t do jack.

    Wild West… expect nothing less than manipulation and delays.

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    • Marc David

      Even if you can get an account (most are closed to new accounts) the verification process is months behind. I finally got verified on Kraken Tier 3 so I could do a wire transfer.

      Except the wire provider wanted a copy of my SSN card.

      I bailed.

      People are rushing to get onto any exchange they can. Except IF you get on one and it’s classified as a foreign bank in any manner.. hello audit!

      Absolutely insane

      Taxes? Who knows. I feel the job opportunities in this segment are massive. It’s like asking you to provide income and receipts from your garage sale. Nobody can track a BCT sale to ShapeShift to XRP back to BCH elsewhere to USD. Unless you target said individual and know the trail to follow.

      NUTS

      So much chaos. So much opportunity. I feel like the job growth for this segment hasn’t even begun.

      Go to Coinbase’s website or Kraken and look at careers. It just goes on and on.

      They can’t hire enough qualified people.

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  4. donkeypunch

    Bitcoin bounced off 50 Day MA and brought up everything with it. The bounces off technicals are epic due to the algos, bots and…Artificial Intelligence. Hodl works til it doesnt

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  5. Cricket

    Asymptotic to $1 trillion market cap. After that all bets are off.

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  6. DMXtremelyOnPoint
    DMXtremelyOnPoint

    Few hours ago Coin Market Cap removed Korean exchanges from their coin price calculations and being that all coins are about 30% pricier over there, it instantly tanked the price on CMC graphs. From what I see this is happening now :

    CMC removed Korean exchanges
    Prices/graphs instantly tanked (but in practice not relevant to people outside Korea who dont trade there anyhow)
    Large number of people did not recognize what actually happened and that there were not moves/selling on their western exchanges
    Those same people are now dumping large amount of coins trying to “cut loses” because of the false impression that coin is crashing.

    Binance is taking new accounts. https://support.binance.com/hc/en-us/articles/115003834812-Binance-Re-opens-Limited-User-Registrations-and-Adjusts-Referral-Program-Terms

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  7. yourlame

    sarcrilege = NAZI

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    • Marc David

      Is NAZI a new coin?! Shit.. where’s my ACH I need to buy NOW! (FOMO)

      Damn it Coinbase and your slowness.

      Screw you (insert bank here) for not allowing the 3rd party transfers to “digital asset” companies.

      Where’s the nearest 6% Bitcoin ATM. I’m busting out my cash for this new $NAZI coin.

      20% a year SPY.. “ain’t nobody have time for that!”

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  8. chuck bennett

    Lame likes to hurt animals. I’m sure he is a Nahzi X 666

    Coinbase has been super slow lately.

    Just hoping Binance doesn’t get jacked by the goberment

    Regards

    Chuck Bennett

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  9. yourlame

    chuck Bennett is not gay he just loves the taste of penis

    Regards

    You are a loser

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  10. 'merica

    Way back in the day my nerd friends were going nuts mining crypto currencies so I decided to try it out. I set up my box to mine litecoin and measured the watts per hour, calculated at the time I’d make around $80 a month and thought what the hell.

    I mined for 3 weeks and decided that it was idiotic. Now here I sit with 6.8 litecoins – about $1700. LOL what the fuck. I know guys that had mined 20 or so bitcoins and sold at about $800 a pop. This is so stupid.

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  11. sierra water

    VUZI is rocketing higher like the old MVIS days.. I gave you the heads up on this week’s ago..

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