CoinMarketCap, arguably the most prominent global index of cryptocurrency prices, triggered a wave of anxiety and anger this morning when it removed a group of Korean cryptocurency exchanges from its price calculations. Though the change was apparently made at midnight Sunday U.S. EST, CoinMarketCap did not publicize it until midday on Monday, saying that the Korean exchanges showed “extreme divergence in prices from the rest of the world and limited arbitrage opportunity. The move resulted in a sharp drop in CoinMarketCap’s measurement of nearly all cryptocurrencies. That gave the impression that a broad market decline, already in progress, had become even more dramatic overnight. As news of the cause for the sharp drop spread Monday, most cryptocurrency prices began recovering losses. Get Data Sheet, Fortune’s technology newsletter. The delisting itself seems to have been relatively uncontroversial—as CoinDesk points out, local exchanges can sometimes show sharp divergence from global prices, masking broad trends. According to CoinDesk, the Korean exchanges Bithumb, Coinone and Korbit, which consistently had prices well above the global market, were removed from CoinMarketCap’s calculations. Ripple’s David Schwartz acknowledged that the new price is “more accurate and meaningful.” http://fortune.com/2018/01/08/coinmarketcap-removes-korean-exchange-prices/ ”
Funny as a week before they did it i made a post saying how i was sick of the Korean exchanged pumping everything. I've also mentioned that those exchanges should be removed from the average. I was very happy to see it happen early this week. I guess they read what is being said on SS But yes a lot of people had no idea that this was the reason the price corrected to a more true price.
The sun is still shining so make hay https://www.reuters.com/article/uk-...ces-from-virtual-currency-rates-idUSKBN1EX1DB Can you imagine reading about this at Reuters 2 years ago?
Imagine my total shock when the news of the South Korean Gov't planned on shutting down All Crypto exchanges surfaced, Raids being conducted on all leading exchanges( a few weeks back) and then CMC ceasing to display SK exchanges results on their site (the other day), it also coincided with Warren Buffet declaring Crypto's to be nothing more than a dead end street conveniently for him I suspect. (wait for a change of heart there soon). Can you imagine the abject horror that I felt, the fear, the desperation... The search for more funds to buy moar Crypto with was overwhelming !!! I even considered a Carrie Bickmore outfit for the street, but my man boobs were just waayyy too big for it to work, and she just wouldn't work at all when it came to Tequila shot's. I was near to tears and pretty damn desperate, so I had no choice but to go full on Racist and sold some Indian Head Gold Oz's. And bought the Fooken dip. Stupid stupid me... Look at where I am now. 12.5 % up here, 0.5% up there, 1.15% over there. .... Yet again. I'll admit that it isn't a real good week really overall. Not a 1000% to be found at all this week on my behalf at all. And I really feel like I've let the team down with that at the moment. It's going to be hard to tell the kids that their Eclectus Parrot trainers will have to take a day off from their $500.00 an hour this week, but sacrifices must be made right ? Suffer the Little Children.... Meanwhile, I've been ordered to get some new shorts by SWMBO. I told her, I already have at least seven pairs of short's, she challenged back with "without any holes in?" She won . But I took solace in the fact that I don't have to wear a suit to work, buy a uniform, dress up for an interview, and I only actually own seven pairs of shorts in total. Oh and two pairs of Jeans for when it gets cold and I have to appear in public. Funny thing is that most here will think that I'm lying.
Price does this every year in January. Check out the charts on coinmarket cap. But regulations are affecting the prices negatively for now. Most of the massive rise was do to speculation. The next rise beyond past highs will be fueled by usage of coins rather than price speculations. Steemit and YoursNetwork, who use steem coin and bitcoin cash, are going to challenge social media giants. Ripple XRP, NEM, And Stellar are going to be used by top banks remittance services. Gaming, music, and other cool dapps are going to built on Ethereum, and people will be using them.
Interesting article when you have the time to read , according to this report crypto investors are turning back to Gold http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11980280
For when you actually reach that milestone: https://www.silverstackers.com/foru...ersonal-grooming-tips-for-the-over-50s.75048/
Already there shiney, Thing is that cattle, pigs and goats don't really care what your wearing and I haven't worn a Suit except for one of the Kids weddings for well over a decade now. Town is a fortnightly occurrence mostly and Mareeba isn't exactly very flash or progressive , I might see a neighbour once a week and if the hair needs combing it gets shaved, the one pair of shoes I own are steelcaps and the most expensive thing I wear is an Akubra. got any Redneck Fashion tips ?
I can't seem to find many bargains that are worth exiting my current holdings from, so I'm stuck hodling Even with this blood bath I got into my current holdings well below their current prices so just doesn't make sense to exit at the low prices I got into for something new even at the current prices Wish I had more fiat on the sidelines, but I've definitely learnt that moving forward I will aim to always have a nice cash position on the side for this very reason
