Bitcoin falls below $13K | Hacker News Reader

Bitcoin falls below $13K

bloomberg.com

I see it dropping back down to $300-600 level over the next 6 months. It rose too fast to be stable.

It's still below that on the page I use to check values, after hitting $19700 earlier in the week. That's over a third drop...

Better sell now as long as there are enough fools willing to 'invest'.

Headline is heavily editorialized. Original is "Bitcoin Tumbles Through $13,000 as Sharks Start to Circle"

Sites like Bloomberg often run A/B tests on headlines before choosing the winner. You can see the original title (another variation) in the URL.

When I posted the comment, the hackernews submission was titled something along the lines of "Bitcoin recovering from 13k drop"; it has since been changed.

Concur, which is why I flagged the original submission. Seems like they tweaked it even though they're still not on the Bloomberg headline.

Stating the obvious: because it's not recovering anymore. It is under 12k right now

What do they try to optimise? Number of clicks per minute? Do the writer submit a bunch of titles to the dashboard from which the system A/B tests? Or do they manually try different variants?

As expected from a technical point of view. Meanwhile I have transactions stuck with over 40 euro's of fees. Pretty crazy and annoying. It's not my money and I warned for this still, I wish there was an easy way to up the fees or cancel transactions in this moment of collective panic. Or hey, perhaps I'm lucky and it gets back up in the mean time ;) I think there is money to be made helping people speed up their transactions for a fee.

I'm no expert on the subject, but isn't it possible to create a new transaction with higher fees, so that it is processed first. This transaction should also transfer enough out of the balance, so that the previous transaction won't ever be able to execute due to insufficient funds. (I'm not sure your wallet will allow it, but going at the protocol level I think you can (signing a transaction and posting it should do the trick) ).

That is indeed possible, thanx. I'm going to mess with that tonight.

Be careful as I'm not sure of myself regarding the protocol, (and you may end-up having your order executed two times, or maybe it has some built-in features to prevent this). You can probably experiment on bitcoin testnet. Depending on the amounts it may be judicious to find an expert to help you do the transaction. Good Luck.

I was sender as well as recipient which makes the risk less. Anyway, the order just progressed (and I did nothing), it (2 consecutive orders) was stuck for 33 hours at 600 satoshi per Byte (twice). BTC is really dead in its current from.

Problem was mainly that family started knocking on my door as I'm the tech guys that has been playing with BTC since forever. All of a sudden people want BTC so I recommend a paper wallet for the long term. Family members agree but panic completely in a time period of 1 week. Insane, I gave so many disclaimers (I literally said I feel BTC is dead in its current form and that they already missed the forks that may, or may not, save it)! So here's a free tip to anyone reading this: Say no. Say: Get your own wallets, get your own Bittrex/Gdax account. If they can't then they shouldn't have BTC or any coin in the first place. Past 33 hours took years of my life.

the emperor wears no clothes.....now people are seeing that bitcoin is useless for anything except gambling. it is not dollar. it is not gold. it is not visa. it is not bank.

I think it's a bit early to call it much more than a flutter, given Bitcoin's history.

People liquidate assets during December Holidays for buying presents, vacationing, and so forth.

In other news, water is wet.

Really ? People sell stock to buy presents and go vacations ?

Sure, check the S&P 500 index price. It always dips come December.

I did. It is December and it is up. Granted the month isnt over, but certainly it can't always dip in December. Even if it reliably did 60% of the time, that would quickly turn into a profitable trading strategy and it would stop happening.

Asset prices usually dip in Dec

Something something correlation causation.

>> People liquidate assets during December Holidays for buying presents, vacationing, and so forth.

Everyone's buying presents at the last possible moment then?

Between the time to execute the order, transfer the cash on your bank account, and buy something ahead of christmas, I would have expected people to do that a lot earlier.

I'm going to leave this here: https://99bitcoins.com/bitcoinobituaries/

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