HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Nearly $13 billion wiped ...

Thu Oct 11, 2018, 07:06 AM

Nearly $13 billion wiped off of cryptocurrency market as major coins plunge

Source: CNBC

The price of major cryptocurrencies plunged on Thursday with nearly $13 billion of value being wiped out in a matter of hours.

At around 10:23 a.m. HK/SIN, bitcoin had fallen nearly 5 percent to $6,303, while XRP and ethereum both tanked over 10 percent, according to data from Coinmarketcap.com. It's not unusual to see bitcoin lead other digital tokens lower.

In just three hours, nearly $13 billion of value had been erased from the entire cryptocurrency market.

The drop comes amid fresh warnings from financial authorities about the rapid growth of digital coins and the potential threat to the economy.

Read more: https://www.cnbc.com/2018/10/11/bitcoin-price-nearly13-billion-wiped-off-cryptocurrency-market.html



Will be interesting to see if the banking and insurance institutions have any previously undisclosed exposure to crypto

8 replies, 1419 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 8 replies Author Time Post
Reply Nearly $13 billion wiped off of cryptocurrency market as major coins plunge (Original post)
Recursion Oct 11 OP
Historic NY Oct 11 #1
Blue_Tires Oct 15 #8
SWBTATTReg Oct 11 #2
Thekaspervote Oct 11 #3
skypilot Oct 11 #4
LAGC Oct 11 #5
skypilot Oct 11 #6
FakeNoose Oct 11 #7

Response to Recursion (Original post)

Thu Oct 11, 2018, 08:32 AM

1. Suckers............

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Historic NY (Reply #1)

Mon Oct 15, 2018, 02:23 PM

8. +1

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Recursion (Original post)

Thu Oct 11, 2018, 08:56 AM

2. Really. And I hope it goes to zero. W/ no accountability and apparently the favorates of ...

criminals everywhere, I wish these types of currencies be priced out or priced to zero dollars in value. Not until they get some accountability and respectability as a currency. And that they quit consuming so much in electricity to figure out.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Recursion (Original post)

Thu Oct 11, 2018, 09:24 AM

3. My checking account was hacked $5k over the summer by a crypto currency.

So, yes I hope they fall into oblivion. Did get my funds back.. all the same.. go away. Good riddance

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Thekaspervote (Reply #3)

Thu Oct 11, 2018, 10:11 AM

4. ???

How does cryptocurrency employ actual non-crypto currency? I know next to nothing about cryptocurrency except that it's used by criminals and radical libertarians. I've heard about cryptocurrency being hacked but I've never heard about it hacking traditional currency.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to skypilot (Reply #4)

Thu Oct 11, 2018, 12:29 PM

5. Hackers steal traditional money and convert it to crypto to launder it.

Once dollars are converted to Bitcoin and "tumbled" it becomes nearly impossible to trace.

The crypto can then be converted back to dollars at some later point, with no way to know whether it was stolen in the first place.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to LAGC (Reply #5)

Thu Oct 11, 2018, 12:31 PM

6. Thanks.

I just thought that cryptocurrency was a thing all to itself. But yeah, it makes sense that someone would do what you described.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to LAGC (Reply #5)

Thu Oct 11, 2018, 01:40 PM

7. You've just explained why it's all a scam

Crypto-currency is an elaborate pyramid scheme, and many people are being ripped off.
If they haven't been cheated yet, they will be.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread