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The Water Cooler
General Discussion
Bitcoin, Ether Futures Rack up Nearly $200M in Liquidations on Short Squeeze
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<blockquote data-quote="Tanis143" data-source="post: 3809732" data-attributes="member: 43724"><p>Usually the funds go to your bank, where you can get cash for them. </p><p>Crash as in computer crash? It doesn't quite work that way. However prices can/have gone down on the value of cryptocurrency. </p><p>There have been many stories of people encrypting their thumb drives and either losing the drive itself or forgetting the passcode with several million dollars worth of bitcoin are on the drive.</p><p></p><p>Its not that the money comes from anywhere, its an assigned value, similar to gold, based on the rarity of the bitcoins. While gold has several physical uses, bitcoins are valued because they digital, which makes them almost untraceable unlike wire transfers, bank transfers, etc.</p></blockquote><p></p>
[QUOTE="Tanis143, post: 3809732, member: 43724"] Usually the funds go to your bank, where you can get cash for them. Crash as in computer crash? It doesn't quite work that way. However prices can/have gone down on the value of cryptocurrency. There have been many stories of people encrypting their thumb drives and either losing the drive itself or forgetting the passcode with several million dollars worth of bitcoin are on the drive. Its not that the money comes from anywhere, its an assigned value, similar to gold, based on the rarity of the bitcoins. While gold has several physical uses, bitcoins are valued because they digital, which makes them almost untraceable unlike wire transfers, bank transfers, etc. [/QUOTE]
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Bitcoin, Ether Futures Rack up Nearly $200M in Liquidations on Short Squeeze
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