It looks like the bubble has burst on bitcoin.

Google search of bitcoin crash

KJW said:

It looks like the bubble has burst on bitcoin.

Google search of bitcoin crash

News a few days ago warned that it was going to happen. News tonight is that it probably has.

I have no idea why anyone should trust such a fake currency.

mollwollfumble said:

I have no idea why anyone should trust such a fake currency.

I read somewhere it was suggested that the amount of bitcoin (and other cryptocurrency) is a measure of the amount of money laundering.

mollwollfumble said:

I have no idea why anyone should trust such a fake currency.

Criminals like it (e.g. it is demanded as the form of payment in ransomware attacks) because of its anonymity.

News articles about bitcoin often include an image of a coin. Is this an actual thing, or just an agreed graphic to represent a Bitcoin?

I wonder if that couple previously posted managed to get all their superannuation into Bitcoin?

There is a story about a stockbroker in the great crash who got out because shoe shine boys were giving stock tips and buying stocks.

I think it is an agreed graphic interpretation. It seems to have been around as long as bitcoin has.

Read an interesting article about this a couple of days ago. Bloke drew parallels to the DotCom collapse and discussed the importance of taking your eye off the dollars and using risk control strategies to limit ‘Regret Management’ – that is, taking the path of least regret. Seemed very smart to me.

Rule 303 said:

…using risk control strategies to limit ‘Regret Management’ – that is, taking the path of least regret. Seemed very smart to me.

Another way of saying ‘don’t invest more than you can afford to lose’.

captain_spalding said:

Rule 303 said:

…using risk control strategies to limit ‘Regret Management’ – that is, taking the path of least regret. Seemed very smart to me.

Another way of saying ‘don’t invest more than you can afford to lose’.

He was focusing more on when to pull out of a fast-rising market, I think. Pull out too early and you’ll be regretting the money you could have made, pull out too late and you’ll be regretting the money you had and lost.

His strategy seemed to be to pull out chunks at pre-determined intervals. You might, for example, pull out 75% when the money is sufficient to meet your goals, and leave the other 25% to see what happens, thus limiting your ‘regret’ exposure.

pump and dump

pump and dump

pump and dump

the major players pump the value up then sell it for top dollar

the arse falls out of bitcoin and they buy them up for less

see how it works?

Crypto-Bros be Pissed:

…

Crypto anger as investors claim insider trading in $600b Trump crash
By Eir Nolsoe
October 13, 2025 — 5.49am

There is growing anger among crypto investors after reports claimed that an anonymous investor made up to $US200 million ($309 million) by betting that the world’s two biggest digital currencies would fall.

Around $US400 billion was wiped off the value of the crypto market in a span of less than 24 hours after Mr Trump late on Friday promised to impose steep new levies on Chinese imports within weeks, reigniting the trade war between the two countries.

It has been alleged the trader lodged their so-called short position in Bitcoin and Ether, betting on their falls, around 30 minutes before the US president announced plans to levy fresh tariffs on China. The price of Bitcoin, the biggest cryptocurrency, then tumbled by more than 10 per cent.

The timing of the investor’s short position has since raised questions over whether they were privy to inside information from the White House.

Joshua de Vos, of CoinDesk, an industry data provider and publication, said: “The timing and scale of the positions opened on October 10, immediately prior to the market-wide liquidation, does raise suspicion of information asymmetry.”

‘Information asymmetry’
“While there is no conclusive evidence of insider trading, the wallet activity shows strong, directional conviction.”

Traders using borrowed money to bet on Bitcoin and other digital currencies lost a record $US19 billion on Friday night. The scale of the losses is more than double the next biggest single-day loss in 2021, when the market took an $US8.5 billion hit.

The hardest-hit speculators had used borrowed money to bet on price moves, in what is known as leveraged trading. Sharp slumps in the price of digital currencies triggered crushing losses on these trades as positions were wiped out.

Cryptocurrencies have struggled to recover since Trump’s announcement, with Bitcoin still down by 8.5 per cent from Friday, while Ethereum was also trading 12.8 per cent lower. Dogecoin is down 26.3 per cent.

The US president’s unexpected tariffs threat was in retaliation to China’s decision to introduce new export controls on global supplies of rare earths and critical minerals, which was announced just days earlier.

However, Beijing appears to have softened its stance over the weekend, with some investment experts questioning whether the market sell-off was triggered by a brief geopolitical misunderstanding.

Meanwhile, the latest bout of scrutiny comes after Trump’s administration was also caught up in claims of insider trading back in April. Several Democrats called for an inquiry after the president’s “Liberation Day” tariffs announcement on April 2 sent stocks plunging around the world, only to swiftly recover after he announced a pause.

At the time, Elizabeth Warren, a Democratic senator, wrote a letter to the Securities and Exchange Commission urging it to investigate whether Trump’s tariffs about-turn had “enriched administration insiders and friends at the expense of the American public”.

Senior White House officials have repeatedly denied claims of insider trading. It comes as global policymakers and finance ministers gather in Washington this week to attend the International Monetary Fund (IMF) autumn summit.

Worries about a looming stock market correction sparked by an AI bubble are expected to dominate at the meetings.

Kristalina Georgieva, the IMF managing director, warned on Wednesday ahead of the meetings that things could get ugly quickly, with the market bearing echoes of the dotcom bubble.

“Valuations are heading toward levels we saw during the bullishness about the internet 25 years ago,” she said.

“If a sharp correction were to occur, tighter financial conditions could drag down world growth, expose vulnerabilities, and make life especially tough for developing countries.”

The Bank of England issued a similar warning last week, questioning whether tech stocks could live up to extremely high valuations. Such concerns are compounded by investors dumping shares in the world’s largest money managers over fears that their $US3 trillion push into private credit is headed for trouble.

The Telegraph, London

Witty Rejoinder said:

Crypto-Bros be Pissed:

…

Crypto anger as investors claim insider trading in $600b Trump crash
By Eir Nolsoe
October 13, 2025 — 5.49am

There is growing anger among crypto investors after reports claimed that an anonymous investor made up to $US200 million ($309 million) by betting that the world’s two biggest digital currencies would fall.

Around $US400 billion was wiped off the value of the crypto market in a span of less than 24 hours after Mr Trump late on Friday promised to impose steep new levies on Chinese imports within weeks, reigniting the trade war between the two countries.

It has been alleged the trader lodged their so-called short position in Bitcoin and Ether, betting on their falls, around 30 minutes before the US president announced plans to levy fresh tariffs on China. The price of Bitcoin, the biggest cryptocurrency, then tumbled by more than 10 per cent.

The timing of the investor’s short position has since raised questions over whether they were privy to inside information from the White House.

Joshua de Vos, of CoinDesk, an industry data provider and publication, said: “The timing and scale of the positions opened on October 10, immediately prior to the market-wide liquidation, does raise suspicion of information asymmetry.”

‘Information asymmetry’
“While there is no conclusive evidence of insider trading, the wallet activity shows strong, directional conviction.”

Traders using borrowed money to bet on Bitcoin and other digital currencies lost a record $US19 billion on Friday night. The scale of the losses is more than double the next biggest single-day loss in 2021, when the market took an $US8.5 billion hit.

The hardest-hit speculators had used borrowed money to bet on price moves, in what is known as leveraged trading. Sharp slumps in the price of digital currencies triggered crushing losses on these trades as positions were wiped out.

Cryptocurrencies have struggled to recover since Trump’s announcement, with Bitcoin still down by 8.5 per cent from Friday, while Ethereum was also trading 12.8 per cent lower. Dogecoin is down 26.3 per cent.

The US president’s unexpected tariffs threat was in retaliation to China’s decision to introduce new export controls on global supplies of rare earths and critical minerals, which was announced just days earlier.

However, Beijing appears to have softened its stance over the weekend, with some investment experts questioning whether the market sell-off was triggered by a brief geopolitical misunderstanding.

Meanwhile, the latest bout of scrutiny comes after Trump’s administration was also caught up in claims of insider trading back in April. Several Democrats called for an inquiry after the president’s “Liberation Day” tariffs announcement on April 2 sent stocks plunging around the world, only to swiftly recover after he announced a pause.

At the time, Elizabeth Warren, a Democratic senator, wrote a letter to the Securities and Exchange Commission urging it to investigate whether Trump’s tariffs about-turn had “enriched administration insiders and friends at the expense of the American public”.

Senior White House officials have repeatedly denied claims of insider trading. It comes as global policymakers and finance ministers gather in Washington this week to attend the International Monetary Fund (IMF) autumn summit.

Worries about a looming stock market correction sparked by an AI bubble are expected to dominate at the meetings.

Kristalina Georgieva, the IMF managing director, warned on Wednesday ahead of the meetings that things could get ugly quickly, with the market bearing echoes of the dotcom bubble.

“Valuations are heading toward levels we saw during the bullishness about the internet 25 years ago,” she said.

“If a sharp correction were to occur, tighter financial conditions could drag down world growth, expose vulnerabilities, and make life especially tough for developing countries.”

The Bank of England issued a similar warning last week, questioning whether tech stocks could live up to extremely high valuations. Such concerns are compounded by investors dumping shares in the world’s largest money managers over fears that their $US3 trillion push into private credit is headed for trouble.

The Telegraph, London

I hate Bitcoin AMAA, but I don’t get this. Surely tariffs going up would be expected to reduce the value of the stock market, which depends on trade in real good, which if anything would tend to increase the price of Bitcoin and friends, which depend on trade in long numbers, which do not have tariffs.

The Rev Dodgson said:

Witty Rejoinder said:

Crypto-Bros be Pissed:

…

Crypto anger as investors claim insider trading in $600b Trump crash
By Eir Nolsoe
October 13, 2025 — 5.49am

There is growing anger among crypto investors after reports claimed that an anonymous investor made up to $US200 million ($309 million) by betting that the world’s two biggest digital currencies would fall.

Around $US400 billion was wiped off the value of the crypto market in a span of less than 24 hours after Mr Trump late on Friday promised to impose steep new levies on Chinese imports within weeks, reigniting the trade war between the two countries.

It has been alleged the trader lodged their so-called short position in Bitcoin and Ether, betting on their falls, around 30 minutes before the US president announced plans to levy fresh tariffs on China. The price of Bitcoin, the biggest cryptocurrency, then tumbled by more than 10 per cent.

The timing of the investor’s short position has since raised questions over whether they were privy to inside information from the White House.

Joshua de Vos, of CoinDesk, an industry data provider and publication, said: “The timing and scale of the positions opened on October 10, immediately prior to the market-wide liquidation, does raise suspicion of information asymmetry.”

‘Information asymmetry’
“While there is no conclusive evidence of insider trading, the wallet activity shows strong, directional conviction.”

Traders using borrowed money to bet on Bitcoin and other digital currencies lost a record $US19 billion on Friday night. The scale of the losses is more than double the next biggest single-day loss in 2021, when the market took an $US8.5 billion hit.

The hardest-hit speculators had used borrowed money to bet on price moves, in what is known as leveraged trading. Sharp slumps in the price of digital currencies triggered crushing losses on these trades as positions were wiped out.

Cryptocurrencies have struggled to recover since Trump’s announcement, with Bitcoin still down by 8.5 per cent from Friday, while Ethereum was also trading 12.8 per cent lower. Dogecoin is down 26.3 per cent.

The US president’s unexpected tariffs threat was in retaliation to China’s decision to introduce new export controls on global supplies of rare earths and critical minerals, which was announced just days earlier.

However, Beijing appears to have softened its stance over the weekend, with some investment experts questioning whether the market sell-off was triggered by a brief geopolitical misunderstanding.

Meanwhile, the latest bout of scrutiny comes after Trump’s administration was also caught up in claims of insider trading back in April. Several Democrats called for an inquiry after the president’s “Liberation Day” tariffs announcement on April 2 sent stocks plunging around the world, only to swiftly recover after he announced a pause.

At the time, Elizabeth Warren, a Democratic senator, wrote a letter to the Securities and Exchange Commission urging it to investigate whether Trump’s tariffs about-turn had “enriched administration insiders and friends at the expense of the American public”.

Senior White House officials have repeatedly denied claims of insider trading. It comes as global policymakers and finance ministers gather in Washington this week to attend the International Monetary Fund (IMF) autumn summit.

Worries about a looming stock market correction sparked by an AI bubble are expected to dominate at the meetings.

Kristalina Georgieva, the IMF managing director, warned on Wednesday ahead of the meetings that things could get ugly quickly, with the market bearing echoes of the dotcom bubble.

“Valuations are heading toward levels we saw during the bullishness about the internet 25 years ago,” she said.

“If a sharp correction were to occur, tighter financial conditions could drag down world growth, expose vulnerabilities, and make life especially tough for developing countries.”

The Bank of England issued a similar warning last week, questioning whether tech stocks could live up to extremely high valuations. Such concerns are compounded by investors dumping shares in the world’s largest money managers over fears that their $US3 trillion push into private credit is headed for trouble.

The Telegraph, London

I hate Bitcoin AMAA, but I don’t get this. Surely tariffs going up would be expected to reduce the value of the stock market, which depends on trade in real good, which if anything would tend to increase the price of Bitcoin and friends, which depend on trade in long numbers, which do not have tariffs.

It’s hard to keep up on what the market now thinks crypto coins are useful for with past claims that it is a safe haven asset like the USD or a hedge against inflation like gold not holding water.

Someone else might be able to explain the latest market temper tantrum better than I can.

Witty Rejoinder said:

The Rev Dodgson said:

Witty Rejoinder said:

Crypto-Bros be Pissed:

…

Crypto anger as investors claim insider trading in $600b Trump crash
By Eir Nolsoe
October 13, 2025 — 5.49am

There is growing anger among crypto investors after reports claimed that an anonymous investor made up to $US200 million ($309 million) by betting that the world’s two biggest digital currencies would fall.

Around $US400 billion was wiped off the value of the crypto market in a span of less than 24 hours after Mr Trump late on Friday promised to impose steep new levies on Chinese imports within weeks, reigniting the trade war between the two countries.

It has been alleged the trader lodged their so-called short position in Bitcoin and Ether, betting on their falls, around 30 minutes before the US president announced plans to levy fresh tariffs on China. The price of Bitcoin, the biggest cryptocurrency, then tumbled by more than 10 per cent.

The timing of the investor’s short position has since raised questions over whether they were privy to inside information from the White House.

Joshua de Vos, of CoinDesk, an industry data provider and publication, said: “The timing and scale of the positions opened on October 10, immediately prior to the market-wide liquidation, does raise suspicion of information asymmetry.”

‘Information asymmetry’
“While there is no conclusive evidence of insider trading, the wallet activity shows strong, directional conviction.”

Traders using borrowed money to bet on Bitcoin and other digital currencies lost a record $US19 billion on Friday night. The scale of the losses is more than double the next biggest single-day loss in 2021, when the market took an $US8.5 billion hit.

The hardest-hit speculators had used borrowed money to bet on price moves, in what is known as leveraged trading. Sharp slumps in the price of digital currencies triggered crushing losses on these trades as positions were wiped out.

Cryptocurrencies have struggled to recover since Trump’s announcement, with Bitcoin still down by 8.5 per cent from Friday, while Ethereum was also trading 12.8 per cent lower. Dogecoin is down 26.3 per cent.

The US president’s unexpected tariffs threat was in retaliation to China’s decision to introduce new export controls on global supplies of rare earths and critical minerals, which was announced just days earlier.

However, Beijing appears to have softened its stance over the weekend, with some investment experts questioning whether the market sell-off was triggered by a brief geopolitical misunderstanding.

Meanwhile, the latest bout of scrutiny comes after Trump’s administration was also caught up in claims of insider trading back in April. Several Democrats called for an inquiry after the president’s “Liberation Day” tariffs announcement on April 2 sent stocks plunging around the world, only to swiftly recover after he announced a pause.

At the time, Elizabeth Warren, a Democratic senator, wrote a letter to the Securities and Exchange Commission urging it to investigate whether Trump’s tariffs about-turn had “enriched administration insiders and friends at the expense of the American public”.

Senior White House officials have repeatedly denied claims of insider trading. It comes as global policymakers and finance ministers gather in Washington this week to attend the International Monetary Fund (IMF) autumn summit.

Worries about a looming stock market correction sparked by an AI bubble are expected to dominate at the meetings.

Kristalina Georgieva, the IMF managing director, warned on Wednesday ahead of the meetings that things could get ugly quickly, with the market bearing echoes of the dotcom bubble.

“Valuations are heading toward levels we saw during the bullishness about the internet 25 years ago,” she said.

“If a sharp correction were to occur, tighter financial conditions could drag down world growth, expose vulnerabilities, and make life especially tough for developing countries.”

The Bank of England issued a similar warning last week, questioning whether tech stocks could live up to extremely high valuations. Such concerns are compounded by investors dumping shares in the world’s largest money managers over fears that their $US3 trillion push into private credit is headed for trouble.

The Telegraph, London

I hate Bitcoin AMAA, but I don’t get this. Surely tariffs going up would be expected to reduce the value of the stock market, which depends on trade in real good, which if anything would tend to increase the price of Bitcoin and friends, which depend on trade in long numbers, which do not have tariffs.

It’s hard to keep up on what the market now thinks crypto coins are useful for with past claims that it is a safe haven asset like the USD or a hedge against inflation like gold not holding water.

Someone else might be able to explain the latest market temper tantrum better than I can.

Explain more confidently, quite likely.

Explain better, I doubt.