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The Great Bitcoin Crash of 2018 (fun video)

 
RandomS
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User ID: 75903425
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02/15/2018 02:23 PM
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The Great Bitcoin Crash of 2018 (fun video)


This is so accurate, and hilarious!
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Anonymous Coward
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02/15/2018 03:27 PM
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Re: The Great Bitcoin Crash of 2018 (fun video)
cruise
RandomS  (OP)

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02/15/2018 03:39 PM
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Re: The Great Bitcoin Crash of 2018 (fun video)
righton5
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Gorgol

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02/15/2018 04:10 PM
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Re: The Great Bitcoin Crash of 2018 (fun video)
Very good yea, pin request + *****

Prime spot on the Shitcoin forum good idea?

Its ..pretty damn cool
Gorgol
RandomS  (OP)

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02/15/2018 05:38 PM
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Re: The Great Bitcoin Crash of 2018 (fun video)
It's not my video, it's just one that I happened to catch on a twitter feed I have to get a "feel" for what is going on in that world!

For those who don't understand the terminology used, here's a synopsis:

- First, background info to understand the subtexts on the video:
* Buy/Sell order - people place orders to buy or sell a coin at such and such price, and other people can choose to fulfill those orders instead of putting up their own.

* Buy/Sell wall - massive buy/sell orders manipulating the market by keeping the price from passing them, one of the many obvious ways you can see the big fish play in this particular ocean

* HODL - meme that means whatever happens with the price, resist selling

* FUD - fake news, something we are all well familiar with here at GLP

* Bear Whale - someone extremely rich in that particular cryptocurrency who is purposely trying to push the price down for some nefarious personal purpose.. oh yes, this was happening! Classic conspiracy that most of GLP ignored


The story as told by the video:

Sudden fakenews starts spreading about bitcoin, and people start selling in increasing numbers, going into panic selling as the price suddenly plummets.

As the price hurtles towards rock bottom the community rallies, and the big whales come out and form a shield at 6000 USD, bracing for the force of the incoming selling wave.

As the price drop sell tsunami stalls against the shield, a rich person or consortium places a massive wall to prevent the price from going back up, but then someone comes along and buys 6 million dollars of bitcoin (1000 btc buy order), striking deep into the sell wave, before it crashes back down into the shield. A literal, FU! YOU SHALL NOT PASS!! message to the ones causing this for all to see.

The fakenews intensifies, and the panic selling increases, as well as the attempts by the bear whales to push the price even lower, and a sudden breakthrough causes the price to plunge even more, but immediately the price is pushed back up, before the bear whales could advance their walls.. and the fight begins, striking back and forth, delaying any further movement in the price. Millions and millions of dollars are flowing back and forth in mortal combat.

Everyone else sees that bitcoin seemed to have bottomed out, and thinks it might be a good time to buy, and so the shield is boosted by more and more random buyers joining in, adding enough momentum to push the price back up! The attackers keep at it, driving the price back, but not enough to overcome the force of the defense, and the price bounces again, and again, and the defenders advance.. by 4000$ so far - it hit 10k again today.

The fakenews stopped.. and was proven fake. Typical GLP material!

That movie scene really perfectly depicts what actually happened heh

Last Edited by RandomS on 02/15/2018 05:46 PM
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