Current Events > LMAO, Ethereum went from $320 to 10 cents

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Lonestar2000
06/22/17 1:55:44 PM
#1:


http://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html

LOL cryptocurrencies!
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chill02
06/22/17 1:56:29 PM
#2:


I was told this wasn't a scam
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KainWind
06/22/17 1:57:04 PM
#3:


Now is the time to buy! Invest all of your savings while it is still 10 cents!
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MC_BatCommander
06/22/17 1:57:05 PM
#4:


Rebounded to 325
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Eevee-Trainer
06/22/17 1:57:48 PM
#5:


I was half tempted to get in on this shit.

I'm glad I didn't, holy fuck lol.
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prince_leo
06/22/17 1:58:24 PM
#6:


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halomonkey1_3_5
06/22/17 1:58:46 PM
#7:


I half-hoped this was legit

I'm so tired of GPU prices being fucked :(
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Shotgunnova
06/22/17 1:59:03 PM
#8:


Wasn't there some guy bragging about Ethereum here lately? Dat foresight.
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CableZL
06/22/17 1:59:26 PM
#9:


It's already back to higher than 325, so it doesn't matter at the end of the day unless you bought in at 10 cents
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MixedRaceBaby
06/22/17 1:59:42 PM
#10:


yeah its back to 327.

if you freak out and sell everytime it crashes then you have no business in dealing with crpytocurries.

i got bitcoin at 1000 and it crashed to 700. did i sell? nope. now its almost 3000.
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Rexdragon125
06/22/17 1:59:51 PM
#11:


Good, maybe the bubble will pop soon so I can get a 1070 at a decent price
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Soviet_Poland
06/22/17 1:59:51 PM
#12:


Shotgunnova posted...
Wasn't there some guy bragging about Ethereum here lately? Dat foresight.


He claimed to have put at least 5 figures in ETC. Lol, anyone know his name and want to tag him? Waiting for the "it'll bounce back, I'm in it for the long haul"
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CableZL
06/22/17 2:00:20 PM
#13:


Soviet_Poland posted...
Shotgunnova posted...
Wasn't there some guy bragging about Ethereum here lately? Dat foresight.


He claimed to have put at least 5 figures in ETC. Lol, anyone know his name and want to tag him? Waiting for the "it'll bounce back, I'm in it for the long haul"


It has already bounced back. Is anyone reading the article? Or actually verifying things?
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Anarchy_Juiblex
06/22/17 2:00:39 PM
#14:


ITT, no reading.

It happened because of a large trade, as often happens with stuff like this.
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Darkman124
06/22/17 2:01:43 PM
#15:


KainWind posted...
Now is the time to buy! Invest all of your savings while it is still 10 cents!


apparently some douche did exactly that--limit order of 3,800 units if price hits .10
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Soviet_Poland
06/22/17 2:03:45 PM
#16:


CableZL posted...
Soviet_Poland posted...
Shotgunnova posted...
Wasn't there some guy bragging about Ethereum here lately? Dat foresight.


He claimed to have put at least 5 figures in ETC. Lol, anyone know his name and want to tag him? Waiting for the "it'll bounce back, I'm in it for the long haul"


It has already bounced back. Is anyone reading the article? Or actually verifying things?


No, you're right. Good catch. Still, that kind of bodes some fear that anyone with a substantial holding can affect it, even momentarily.
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COVxy
06/22/17 2:03:48 PM
#17:


Anarchy_Juiblex posted...
It happened because of a large trade, as often happens with stuff like this.


I don't think it's correct to classify this as normal market behavior...
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Trigg3rH4ppy
06/22/17 2:04:15 PM
#18:


chill02 posted...
I was told this wasn't a scam

I mean, it was probably really good for the people who weren't greedy enough to keep hanging on after it slowed down in the 300 range
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Darkman124
06/22/17 2:04:56 PM
#19:


COVxy posted...
Anarchy_Juiblex posted...
It happened because of a large trade, as often happens with stuff like this.


I don't think it's correct to classify this as normal market behavior...


yeah normal market behavior is a 1-2% drop when a large trade occurs

not a 99% drop followed by a 3250% jump
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chill02
06/22/17 2:19:22 PM
#20:


yeah, I mean, it did bounce back, but this level of volatility should raise red flags to any sensible investor
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Clad
06/22/17 2:21:40 PM
#21:


Darkman124 posted...
COVxy posted...
Anarchy_Juiblex posted...
It happened because of a large trade, as often happens with stuff like this.


I don't think it's correct to classify this as normal market behavior...


yeah normal market behavior is a 1-2% drop when a large trade occurs

not a 99% drop followed by a 3250% jump


that's because the normal market has a much higher market cap. ethereum market cap is like 30 billion. a very large trade could do that since it's a baby market.
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Butterfiles
06/22/17 2:22:20 PM
#22:


lol you suckers, I made my fortune on monkey nuts
https://www.youtube.com/watch?v=X8gBEfCZiDI

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Darkman124
06/22/17 2:22:39 PM
#23:


Clad posted...
that's because the normal market has a much higher market cap. ethereum market cap is like 30 billion. a very large trade could do that since it's a baby market.


it is not possible to make a 99% adjustment to a stock with a 30 billion market cap

if you think it is you are wrong

did you mean 30 million? if so it's basically a penny stock equiv and yes, that kind of volatility on penny stocks IS possible

cryptos are just the new pink sheets
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Clad
06/22/17 2:24:39 PM
#24:


Darkman124 posted...
Clad posted...
that's because the normal market has a much higher market cap. ethereum market cap is like 30 billion. a very large trade could do that since it's a baby market.


it is not possible to make a 99% adjustment to a stock with a 30 billion market cap

if you think it is you are wrong

did you mean 30 million? if so it's basically a penny stock equiv and yes, that kind of volatility on penny stocks IS possible

cryptos are just the new pink sheets


Ethereum has a market cap of 31 billion. Large trades could influence volatility. But I think the GDAX exchange had a glitch in it, because I didn't see Coinbase report a 10 cent price. I would've bought in if that was the case.
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Rida_Go_To_Bed
06/22/17 2:24:53 PM
#25:


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Clad
06/22/17 2:25:29 PM
#26:


Rida_Go_To_Bed posted...
it was 10 cents for literally one to two seconds....


Yeah, probably a glitch.
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Darkman124
06/22/17 2:25:31 PM
#27:


Clad posted...

Ethereum has a market cap of 31 billion. Large trades could influence volatility. But I think the GDAX exchange had a glitch in it, because I didn't see Coinbase report a 10 cent price. I would've bought in if that was the case.


glitch seems likely

any trades affected should be invalidated

but again to be 100% clear this is not a thing that can happen to a 'real' equity with that amount of liquidity
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Clad
06/22/17 2:26:55 PM
#28:


Darkman124 posted...
Clad posted...

Ethereum has a market cap of 31 billion. Large trades could influence volatility. But I think the GDAX exchange had a glitch in it, because I didn't see Coinbase report a 10 cent price. I would've bought in if that was the case.


glitch seems likely

any trades affected should be invalidated

but again to be 100% clear this is not a thing that can happen to a 'real' equity with that amount of liquidity


*shrug*

Cryptocurrency is volatile, but that doesn't make it not real or some scam.
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clearaflagrantj
06/22/17 2:27:44 PM
#29:


Clad posted...
Darkman124 posted...
Clad posted...

Ethereum has a market cap of 31 billion. Large trades could influence volatility. But I think the GDAX exchange had a glitch in it, because I didn't see Coinbase report a 10 cent price. I would've bought in if that was the case.


glitch seems likely

any trades affected should be invalidated

but again to be 100% clear this is not a thing that can happen to a 'real' equity with that amount of liquidity


*shrug*

Cryptocurrency is volatile, but that doesn't make it not real or some scam.

Shh just let the people that never bought in feel superior while we make money.
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Clad
06/22/17 2:30:09 PM
#30:


clearaflagrantj posted...
Clad posted...
Darkman124 posted...
Clad posted...

Ethereum has a market cap of 31 billion. Large trades could influence volatility. But I think the GDAX exchange had a glitch in it, because I didn't see Coinbase report a 10 cent price. I would've bought in if that was the case.


glitch seems likely

any trades affected should be invalidated

but again to be 100% clear this is not a thing that can happen to a 'real' equity with that amount of liquidity


*shrug*

Cryptocurrency is volatile, but that doesn't make it not real or some scam.

Shh just let the people that never bought in feel superior while we make money.


It's been treating me very well, tbqh.
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COVxy
06/22/17 2:33:06 PM
#31:


Yes, indeed. I was a mentally ill homeless person in Baltimore, translocating twice monthly to Detroit, then I discovered Ethereum and it turned my life around. I'm now a multimillionaire in perfect mental heath.

p.s. muerehteyub
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FrenchCrunch
06/22/17 2:38:14 PM
#32:


ive had it for a couple weeks and a made a little bit of money selling high and then buying the dips
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EyeWontBeFooled
06/22/17 2:45:06 PM
#33:


Is there any point to ethereum other than trading them? Who accepts them?
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Clad
06/22/17 2:49:10 PM
#34:


EyeWontBeFooled posted...
Is there any point to ethereum other than trading them? Who accepts them?


yes. ethereum is a platform for developing web applications. you can use ethereum to pay for the apps and to pay for the "server" time.
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EyeWontBeFooled
06/22/17 2:50:21 PM
#35:


Clad posted...
EyeWontBeFooled posted...
Is there any point to ethereum other than trading them? Who accepts them?


yes. ethereum is a platform for developing web applications. you can use ethereum to pay for the apps and to pay for the "server" time.

Fanx dood
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prince_leo
06/22/17 2:52:19 PM
#36:


I actually just bought a bunch of GNT and ANT
ETH is still something i'm just gonna hodl
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FrenchCrunch
06/22/17 2:52:48 PM
#37:


prince_leo posted...
I actually just bought a bunch of GNT and ANT
ETH is still something i'm just gonna hodl

can you explain this stupid fucking hodl shit to me pls
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Sojy
06/22/17 2:55:16 PM
#38:


CableZL posted...
It's already back to higher than 325, so it doesn't matter at the end of the day unless you bought in at 10 cents

It was basic common sense that it'd go back up, anyone who knew about this and didn't buy a bunch at 10 cents a pop (if they were actually available) is a fool.

Lol @ the "what a scam" people.
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clearaflagrantj
06/22/17 2:57:05 PM
#39:


FrenchCrunch posted...
prince_leo posted...
I actually just bought a bunch of GNT and ANT
ETH is still something i'm just gonna hodl

can you explain this stupid fucking hodl shit to me pls

1. Buy the Eth
2. HODL
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FrenchCrunch
06/22/17 2:57:57 PM
#40:


clearaflagrantj posted...
FrenchCrunch posted...
prince_leo posted...
I actually just bought a bunch of GNT and ANT
ETH is still something i'm just gonna hodl

can you explain this stupid fucking hodl shit to me pls

1. Buy the Eth
2. HODL

i understand it means hold. i have 2 separate stashes, one for holding and one for trading short term

but why "hodl"
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prince_leo
06/22/17 2:58:22 PM
#41:


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Roxborough4Ever
06/22/17 3:02:19 PM
#42:


itt: they dont know a flash crash can happen in any market
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FrenchCrunch
06/22/17 3:02:52 PM
#43:


prince_leo posted...
FrenchCrunch posted...
but why "hodl"

https://bitcointalk.org/index.php?topic=375643.0

much obliged
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booboy
06/22/17 3:03:15 PM
#44:


Shit's too much of a roller coaster for me. Once I get a (extremely tiny) bankroll for investment going, I'm just wanting to be able to occasionally throw money into this probably non-existent portfolio and make modest cash off of it without much thought.
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Clad
06/22/17 3:10:14 PM
#45:


booboy posted...
Shit's too much of a roller coaster for me. Once I get a (extremely tiny) bankroll for investment going, I'm just wanting to be able to occasionally throw money into this probably non-existent portfolio and make modest cash off of it without much thought.


no investment worth pursuing is going to be without much thought
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prince_leo
06/22/17 3:13:44 PM
#46:


booboy posted...
Shit's too much of a roller coaster for me. Once I get a (extremely tiny) bankroll for investment going, I'm just wanting to be able to occasionally throw money into this probably non-existent portfolio and make modest cash off of it without much thought.

all of the money I have out into crypto is money I can lose
I know people who have taken out loans or emptied their savings. power to them and their beliefs, but that's not me

I put in enough into various currencies that if just one of them moves up like bitcoin, then i'd get a very nice payday. but I also don't have that much in them compared to my salary and my other savings, that if they all hit nothing tomorrow then i'll be fine


when I explained all of this to my fiancée her eyes went really big about how much money I had already made in ETH, but I told her that we have to pretend that it doesn't exist
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GiftedACIII
06/22/17 7:32:42 PM
#47:


welp
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hortanz
06/22/17 7:40:35 PM
#48:


I have been on the fence about getting in on this for like 3 weeks now

indecision is gonna kill me rip
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DoctorVader
06/22/17 7:45:06 PM
#49:


I love CE because of topics like this. It's like no one knows what they're talking about except like 1-2 people.

Everybody is acting like they know what's going on. It was a glitch that lasted 2 seconds with GDAX and now you got people going "told you it's a scam".
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COVxy
06/22/17 7:50:43 PM
#50:


DoctorVader posted...
Everybody is acting like they know what's going on. It was a glitch that lasted 2 seconds with GDAX


I mean, this isn't what the GDAX people were saying in the link in the OP. They explicitly said it wasn't a glitch.
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