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Is Bitcoin Losing its balls again or still? It looks like it will be lucky if it holds up at $1.
I wish Ihub would install a thumbs up! Perfect answer. You described it in an accurate way that very few people could!
The USD is backed by the full faith of the people and is kept propped up by real banks. Bitcoin is fake and obviously not propped up by many banks. So not a very good comparison. That is like comparing apples to oranges.
That is spot on, Dent. It is human nature to blame someone else for something beyond our control. What is sad is that we should not be left hanging. It may never be "listed" again. Just say it rather than cancelling conference calls. We are grown ups. We can handle the truth.
You are spot on Nebu. Cryptos are not backed by anything real and tangible. Who is counterfeiting and dumping? This is what should be discussed. Why has it taken 10 years for people to see how worthless it is.
I guess I should post my binary option trades since they are small. I only do $1 per deal. 30 minute expiry deals are awesome! About six or seven deals per day is just what the doctor ordered.
The Bitcoin pumpers sound just like the penny stock pumpers of yesterday. Just hold on while it collapses to zero.
Unless someone can find a way to stabilize the price you are correct. It is headed to zero. I wonder if any cryptocurrencies will even survive. It is a great concept as a means of exchange but just not a great investment.
I just hope Bitcoin can at least stabilize at some price level that helps it become a real and popular currency accepted everywhere. Because it is not backed by anything tangible and real I never thought of it as an investment. Will it remain as a currency at the end of the day? That is my question.
Bitcoin looks poised to lose its balls yet again. When does it end?
You are correct. Unless someone can come up with something to stabilize the price then she will collapse, taking down what funds, ETFs, etc. are attached to it. The Bitcoin pumpers talk about bitcoin as it it were a real commodity. Based upon the price action this year it looks like someone has figured out how to produce counterfeit Bitcoin and then just dump endlessly. Sad.
CMKX is garbage. Are you kidding me?
Try Zero or Zilch. Comprende?
Bitcoin is nothing but Pump and Dump. As a currency for goods and services it is ok. But to hold as investment? What a joke!
It is funny how the pumpers sound exactly like the penny stock pumpers of yesteryear. "Hold on, hold on, buy more, it will come back" LMAO. So many of us lost as the stocks never recovered and plunged to zero. Bitcoin acts just like a bloated penny stock.
Someone must have figured out some way to counterfeit Bitcoin and then they dump it all. How low does she go?
This is the problem. It is not a "play. It is not an investment. It is sad. The price needs to stabilize and then it can get recognized worldwide as a currency. All the ETFs, retirement programs, etc. are not going to guarantee Bitcoin will work as a play or investment. The question is will it stabilize? If it keeps acting this way it will become a laughing stock!
Someone must have got some cheap or free Bitcoin and just dumped it all into the market as buyers were just not there to absorb it. What's next? I wonder if New York's Crime Families are involved? Maybe the Clinton Crime Family?
Told ya so. Bitcoin and Cryptos are the latest penny stock type of scam. As soon as world finally realizes that they are worthless and not backed up by anything real then they drop to zero. Cryptos are the new penny stock scams. I was hoping that one would become a recognized currency widely accepted everywhere. But until the price stops moving this is never going to happen. Sad.
Bitcoin is certainly terrific for short term trading. I have been experimenting with short term binary option trading for bitcoin and other cybercurrencies. I never realized that they were so heavily traded.
Well I am sorry man. I am just not going to pump and dump and then see this thing do nothing. Is it the end of the world because Bitcoin is no longer an investment but rather an accepted and real currency? I think not.
Bitcoin is simply over as an investment. It must be so bloated that all of the buying in the world will be met by selling. Bitcoin is a great concept as a payment method or means of moving money around. But as an investment to buy and hold? Forget about it. The Bitcoin pumpers remind me of the penny stock pumpers back in the 1990s. "Hold it long and strong, $50,000 coming." I don't think so. Sad but true.
The best thing that could be done right now is for them to create a brand new company called CryptoKing Mining Corporation or something similar. A crypto mining operation could be set up and they apply for a brand new ticker symbol, totally disconnected from the old Copperking "public" shell which never publicly trades. This new public entity could begin trading sometime next year. Copperking shareholders could be brought over to the new entity and then it gets done and no one currently in gets hurt. How is that for a solution? Then the conference calls would actually mean something. The endless "coming soon," crow eating promises and other nonsense would come to an end. Think about it.
The big price move to the upside is dead. All we can hope for now is for stability in the same range. I love Bitcoin as a currency for buying things. But I do not like it as an investment. It reminds me of Penny stocks and Dot.com collapse.
I say this Fake Company will never be listed again, ever. Someone or something is holding it up and not telling us what is wrong. This is a method that is used by the powers at be to shut down companies. Why is the conference call never posted here for us to discuss? Again, a brand new company could be started today and would be listed in about a year. But this one sits here for years. Amazing.
I think he is talking about being re-listed again on the Fake Stock Exchange along with thousands of Fake Companies. If that happens the only people who will make money are the insiders, Carnival Barkers and others with cheap or free stock. And the "price" will drop like a rock. This "market" doesn't work like it used to, as savvy investors will not come in to support the stock. This is not 1997 anymore.
I agree absolutely. Cryptocurrencies remind me of penny stocks. Years ago lots of investors believed in those companies that they had value. Some of them shot up from $1 to $100. When word got out that these companies had no real value they collapsed accordingly. I am surprised that Bitcoin has held up as much as it has. The days of throwing money into with a hope that it will explode like it did last year are fading. There also doesn't seem to be any widespread attempt by stores and vendors to accept it. I have used it just to move money around. Fortunately it never collapsed during the short time I was in it.
Bitcoin is far too risky as an investment. I use it only as a means to get money from point A to point B. You would hate to be in Bitcoin when it collapses.
Nice try ernie. That is definitely another trick. Real Companies do not buy assets from Fake Companies. So the odds are actually zero. The biggest Trick is that someone tries to get you to think that a penny stock actually has value. It really has no value.
Good one Dent! Hehe. LMAO. It is definitely a trick. Not just for this Fake Company but all of them. It sounds like you have really caught on in a very big way. I hope you have lots of Candy for the Carnival Barkers when they knock on the door. Or maybe turn out the lights? Happy Halloween.
Yea but what does it accomplish for a Fake Company, Fake Exchange and Fake News? Cheap Entertainment I suppose. It would be better if a conference call would actually be posted so we could maybe have something substantive to talk about.
The biggest mistake made not only here but with all of these types of Companies is their desire to list on Fake Exchanges. This is the death blow. No one seems to realize it until it is too late. Because when it is listed on the Fake Exchanges that nullifies what they have or don't have. It does not matter whether they have a mill or sagebrush in the middle of nowhere. The stock price is based upon the Fake "evaluations" put out by a cesspool of Carnival Barkers. A company should be evaluated by real Wall Street folks. Of course we know that the value would be "zero" on Wall Street. That is why no one on Wall Street touches the Fake Companies and the Fake Exchanges. Sad but true.
These Fake Companies and their "exchanges" have destroyed lives. There is no question about that. The only people who "profit" are those on the inside with cheap or free shares as they unload them on the Fake Market (gullible people who think that this is real) so that they can raise funds for themselves. The business of options on the real companies and real markets is a far more lucrative business than the Fake stock market. I am surprised the business of Fake companies hasn't been fully shut down yet. It has been partially shut down. The blocking of the listing of some Fake companies like this one is a start. But that is really not good enough.
It is sad there is nothing to talk about. Why doesn't someone post the last conference call, either a recording or transcript? Then we would have something to talk about. This Fake Company has failed miserably and no one wants to face the music. So sad.
It is best to treat this as a Fake Company from now until it is is "listed" again. If someone wants to post a transcript or a recording of the last conference call that would be terrific. Then we would have something to talk about.
It doesn't matter what land they have or what they do. Without a listing and a legal way for shareholders to buy or sell stock it is just a pipe dream. What is the purpose of this board? To check in about content put out at a conference call? Someone should post a conference call on this board so at least discuss something "real." Until then we still have what looks like a Fake Company.
Looking at the history of this public company for 18 years we can only speculate that past securities violations are playing a large part in why it is just not listed yet. The question is then are the managers delusional by just expecting everyone to wait forever or is there truly a plan B? I know what I would have done. I would have had the filings for a brand new public company all ready to rock and roll to start over again. In other words, pull the plug and head for the hills from the current setup which will never be allowed to list again.
What is baffling here is that the measure of success seems to be whether or not there is a conference call. Why doesn't someone from the company just step up to the plate like a man and say it is not happening. We are getting turned down by the powers at be and will never be listed again. Hell, the management team could have started a brand new company from scratch and had a new ticker symbol by now. They could be trading in a year and a half. Someone is certainly not being honest. Sad.
Dent deals in reality. You can bet on that. You should listen to the Carnival Barkers on this board. They are delusional. The fact is that this company was started almost 20 years ago and is riddled with failure in its history. No ticker symbol is its punishment. I just wish that people would admit that it is entirely possible that it will never trade again. At that point it becomes why even have a message board here?
Obviously this company got caught up in the Fake Company ticker symbol scam. This whole company history is a real model for what happens when companies try to "go public" on the fake exchanges. It just doesn't work except for a quick pump. But after the pump everything collapses along with those shareholders who got caught with the "long term" lie. This is really sad and the reason why the real investors on Wall Street are laughing at companies like this one. By the way, this CPRK "public" entity is nearly 20 years old now. And look at it, delisted. This is a sad poster child that speaks volumes about this segment of the financial industry.