Coinbase Crashes As Bitcoin, Ethereum Join FANG Stocks Meltdown

Whether it is just a curious coincidence or not, cryptocurrencies are crashing along with FANG stocks this morning...

Earlier statements about the Ethereum network running slow due to extremely heavy activity appear to have taken their toll on one major exchange...


And Bitcoin is tracking FANG stocks lower (down around 13% this morning)... This is the biggest drop since January 2015


And Ethereum is down over 15%...after tagging $400 earlier last night


Some context however shows this 15% plunge merely drops Ether to 2-day lows...


Manthong Haus-Targaryen Mon, 06/12/2017 - 15:11 Permalink

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 Aw shoot… Those several Bitcoins cost me as much as one of the green boxes in the bunker. I am going down there now to make sure the Eagles and the Bitcoins are still there.   You know, I do have the crypto in an off-line  wallet on a flash drive., backed up with a CD in a hermetically sealed envelope sitting under the .50 cal black and brown tip stuff.

In reply to by Haus-Targaryen

Tsipras the Great Manthong Mon, 06/12/2017 - 15:48 Permalink

This is what I don't get, as soon as all coins are mined, and given that they basically hodl, in 10 or 20 years most of them will be in some shoddy place somewhere in the ether, until someone grabs the pen drive and deletes all the content to store some MS Word 2037 docs for school and puff.How many coins have already been lost forever?Also, people only mention EMP issues, but is that the only way to corrupt data? What if USB-C?Or if an Hacker already spent your coins and you just have no idea?

In reply to by Manthong

BaBaBouy Tsipras the Great Mon, 06/12/2017 - 15:50 Permalink

Just Checked: Degraded Performance
Investigating - Coinbase is currently experiencing high traffic & customers have receive a "service unavailable" message when visiting We appreciate your patience while our team actively works to resolve this issue.
Jun 12, 11:08 PDT

So what would you do if your local JPM or GS were to post such Message ????????????????

In reply to by Tsipras the Great

shamus001 BaBaBouy Mon, 06/12/2017 - 17:30 Permalink

You sit back, open a beer and laugh at all the people who laughed at you when you repeatedly warned them to take their FRNs "out of the bank and be your own banker at home."Recall the tired saying "If you dont hold it, you dont own it"?This is why PM investors dont heavily invest in cryptos, although taking wealth out of bankers hands....we have in common.

In reply to by BaBaBouy

Mr 9x19 Jim Sampson Mon, 06/12/2017 - 14:17 Permalink

i shit deep in the throat of all making money buying void and selling it create nothing, you make no physical build/creation/assembly. you are surf on the madness of a world  who refuse to work physically to create even a table and 4 chairs, i wish the time grid will crumble to come to see you to die like cockroaches you are. labor value anihilators.fucking vermine.

In reply to by Jim Sampson

thisandthat Haus-Targaryen Mon, 06/12/2017 - 18:47 Permalink

So have money changers and squid creatures, so what's all the fuss about banksters; what does it change from them to cryptards, if it all about profit?Jealousy you're not a part of their club? Simply a matter of who's cashing in: fine if it's cryptos vs. evil if it's fiat?Where's that proclaimed higher moral ground, now - thrown straight out the window as soon as you got laughing all the way to the bank, just like any other swamp dweller?

In reply to by Haus-Targaryen

crazytechnician Mr 9x19 Mon, 06/12/2017 - 20:24 Permalink

Wait until btc = 50k , retard. Then 100k +++ You placed nothing in my throat you just me give a grin on my face from your ignorance. I think your throat will be full of your own turd soon ,  all I will be smelling is a queue of fresh tequilas and waxxed pussy on my newest boat. Jealousy is a hard turd to swallow motherfucker. You better get used to it on your non existant gold train.

In reply to by Mr 9x19

AnarchistRex Mr 9x19 Tue, 06/13/2017 - 00:19 Permalink

This is capitalism ... people who 'know' get in early at a high risk ... if the tech pans out and others get in later, then those that got in early are rewarded for their risk ... you can't dismantle this process as to do so, would stop better tech from being developed ...

So hate on their profits all you want, but know that in so doing you are supporting life in the stone age as being superior to life today.

In reply to by Mr 9x19

seek stitch-rock Mon, 06/12/2017 - 14:13 Permalink

There are plenty of ZHers like myself that got in at $10-$15 or even less. I gave away something on the order of 1-2 BTC here a few years ago, which was just a few dollars then but close to 5K USD now.Part of the value of this forum is getting advanced warning of unconventional investments -- it's here in the comments if people pay attention.

In reply to by stitch-rock

Drimble Wedge seek Mon, 06/12/2017 - 15:48 Permalink

I'm sure ALL OF YOU reported all those capital gains taxes & 'ticked out' at the top. <--- People who enjoy paying $5.99 plus tax & tip for a salad from GRUB HUB with bitcoins while pretending they're MASTERS OF THE UNIVERSE No jealousy here whatsoever. - I never owned bitcoin- I never will- I'll never cry EITHER WAY Now excuse me, I have to go out and pick some lettuce & strawberries from my garden. Tonight, it's gonna be a romaine/strawberry salad with a dressing of milk/mayo/poppy seeds & goat cheese. The Romaine lettuce 'seed' packet that I bought (like, 10 years ago, for 79 cents), has not only produced 10 years of generations of lettuce, but tens of thousands of seeds). IOW ~ I haven't spent a dime on lettuce in 10 years. (so what's that 79 cent investment compared to BITCOIN 'profits' multiplied by 10 years x 10,000 seeds not counting the ones that only lived their lives to bolt and become new ~ FREE ~ plants)? Whereby, NOW you spend your dumbass PROFITS, skirting the law, buying $6 salads, $10 pizzas, & cars that explode? So ~ go ahead and cash in a fraction or so of a bitcoin to have fucking GRUB HUB deliver a Monsanto laced salad (@ what? $5.99 plus tip), to your doorstep tonight & toast your mastery of the universe... & oh yeah, by the way, the REASON that PAPA JOHNS's pizza you ordered tastes so good is because they 'candied' the sauce with sugar & the GARLIC BUTTER you're dipping it in isn't butter at all, it's MARGARINE... Might as well just order a saccharine TAB & a FRESCA to wash it all down We who are about to (not) DIE of e-coli or cancer, the next EMP ~ salute you... Frankly ~ If I were you, & before it's too late, I'd use some of those bitcoins to get yourself a DRIMBLE WEDGE cotton T-shirt, or, like, a Tesla or sumpin.… ~~~ "Part of the value of this forum is getting advanced warning of unconventional investments" Yeah ~ I'm still kinda miffed that I didn't get into that PYRAMID SCHEME investment back in the late 70's... Or like... WHY OH WHY didn't I 'get in on the ground floor' with Bernie Madoff? STUPID ME

In reply to by seek

Drimble Wedge Starvation 2017 Mon, 06/12/2017 - 18:01 Permalink

& whereby? not extrapolating the aforementioned 'DENIAL'... (yet ~ quick on the 1 vote junk) Here ~ I'll make it simple 4u... - What did you pay for a packet of Romaine lettuce seeds in 2007?- How many 'salads' have you eaten between then & now?- What are you planning on eating for dinner tonight? That should suffice 4 now? t's clear to everyone, now, why your username is 'STARVATION'

In reply to by Starvation 2017