300 is broken, to never see again - page 2.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: kwukduck on January 03, 2015, 08:50:50 AM

We broke 300 even sooner than expected, this ship is sinking faster than you will imagine.
My experience from long time successful trading is to get out as soon as you can.

oh really? Never to see 300 again?

Quoted for posterity. Cheesy

g35fan

newbie

Activity: 24

Merit: 0

...and it will rebound - just like back in the beginning of October and the drop to 275. A few days later back to $340 range then over $400 2 weeks after that.

applesRyummy

full member

Activity: 126

Merit: 100

Quote from: ajareselde on January 04, 2015, 01:58:49 PM

Quote from: applesRyummy on January 04, 2015, 01:47:09 PM

Quote from: Addition on January 04, 2015, 09:18:47 AM

Quote from: romerun on January 04, 2015, 12:28:47 AM

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

6000+BTC net dump on just Bitstamp, we're at $260 now!!!! (past Hr)

Hope you're wrong about it collapsing, surely some miners are cool with hashing for a lose - they are like us expecting rebound?

I'm pretty convinced there will be a significant rebound coming to make the fiat exchangers a quick buck!

The volume on bitfinex is even larger. It has seen 10k+ BTC volume per hour over several hours including one 30 minute period that saw a 11k+ BTC volume. It looks like that some people are being forced to sell their margin positions

am i the only one here actually happy about that :] ?
i cant wait to rebuy, but not just yet, i think were about to test 250$ soon

The decision to short bitcoin just under the 300 level was obvious. It was not clear that we would actually break through 300, but if we did then it would be almost certain that it would go significantly farther down. I would expect to see a few more days of heavy downward pressure on the price until it starts to rebound.

I am still pondering when I should hope to cover my short position and buy bitcoin to withdraw to my own wallet

HeliKopterBen

hero member

Activity: 622

Merit: 500

Quote from: Hyena on January 03, 2015, 09:45:15 AM

Quote from: ?? on ??

You can thank the paycoin groupies that are pushing this 1000s BTC scam that I bet is being dumped into Fiat as we speak.

It's ironic how the guy that represents PayCoin is named Josh, just as it was the case with Butterfly Labs. And guess what, both broke their promises. When I suddenly recognized the weird similarity between GAW and BFL I insta-dumped my speculative paycoins I can afford to lose.

Seeing BTC falling under 300 I insta-dumped a good portion of my hot wallet. However, I'm not holding any fiat, I bought nubits instead. NuBits is an excellent hedge against the collective downtrend of all other cryptos. Thank god I invested heavily into NuShares when they first came out, it has covered all my losses I'm having in BTC, PPC and now XPY. NuBits is like a dream come true.

Nubits is too centralized and relies on third party custodians to manage the supply, not to mention centralized exchange risk. Bitusd from bitshares is the only legit decentralized solution with on-chain collateral.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: pereira4 on January 04, 2015, 11:23:46 AM

101 long term investment textbook situation: resist ~~the big crash or die a poor peasant.~~ getting married to your mistakes.
...

There.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: applesRyummy on January 04, 2015, 01:47:09 PM

Quote from: Addition on January 04, 2015, 09:18:47 AM

Quote from: romerun on January 04, 2015, 12:28:47 AM

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

6000+BTC net dump on just Bitstamp, we're at $260 now!!!! (past Hr)

Hope you're wrong about it collapsing, surely some miners are cool with hashing for a lose - they are like us expecting rebound?

I'm pretty convinced there will be a significant rebound coming to make the fiat exchangers a quick buck!

The volume on bitfinex is even larger. It has seen 10k+ BTC volume per hour over several hours including one 30 minute period that saw a 11k+ BTC volume. It looks like that some people are being forced to sell their margin positions

am i the only one here actually happy about that :] ?
i cant wait to rebuy, but not just yet, i think were about to test 250$ soon

applesRyummy

full member

Activity: 126

Merit: 100

Quote from: Addition on January 04, 2015, 09:18:47 AM

Quote from: romerun on January 04, 2015, 12:28:47 AM

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

6000+BTC net dump on just Bitstamp, we're at $260 now!!!! (past Hr)

Hope you're wrong about it collapsing, surely some miners are cool with hashing for a lose - they are like us expecting rebound?

I'm pretty convinced there will be a significant rebound coming to make the fiat exchangers a quick buck!

The volume on bitfinex is even larger. It has seen 10k+ BTC volume per hour over several hours including one 30 minute period that saw a 11k+ BTC volume. It looks like that some people are being forced to sell their margin positions

pereira4

legendary

Activity: 1610

Merit: 1183

101 long term investment textbook situation: resist the big crash or die a poor peasant.
I hope it goes to 1$ so I can have a chance to be a top Bitcoin holder if such once in a lifetime redistribution of wealth opportunity happens. People will drop millions if it goes really low so everytime it gets lower and you don't buy you are gambling with missing the big fat train.

premium_domainer

legendary

Activity: 1764

Merit: 1012

300 will be back within 72 hours from now.

Guido

legendary

Activity: 1061

Merit: 1001

Quote from: kwukduck on January 03, 2015, 08:50:50 AM

We broke 300 even sooner than expected, this ship is sinking faster than you will imagine.
My experience from long time successful trading is to get out as soon as you can.

we will be going down for sure but i am certain we will see 300 and above this year
1 btc bet that we see 300$ again for a bitcoin at some point this year? you say no

Addition

full member

Activity: 238

Merit: 100

Quote from: romerun on January 04, 2015, 12:28:47 AM

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

6000+BTC net dump on just Bitstamp, we're at $260 now!!!! (past Hr)

Hope you're wrong about it collapsing, surely some miners are cool with hashing for a lose - they are like us expecting rebound?

I'm pretty convinced there will be a significant rebound coming to make the fiat exchangers a quick buck!

Addition

full member

Activity: 238

Merit: 100

Quote from: celebreze32 on January 03, 2015, 07:10:36 PM

Quote from: Addition on January 03, 2015, 06:06:15 PM

Quote from: rammy2k2 on January 03, 2015, 04:34:33 PM

any idea if there is a reason behind this chaos ?

Mad dump going off today for sure - Does anyone know what's behind this?

Some folks saying; Paycoin??? WTF IS Paycoin Cheesy

Or is this just simply another massive volume related dump, then expected bounce back(short-term)?

Paycoin recently mooned to the top of coinmarketcap after an IPO that apparently made millions. Right now it's just below litecoin in terms of market cap, but it's dropped like a stone from it's top price. Nobody seems to know exactly how much the devs mad or if they're dumping.

http://coinmarketcap.com/currencies/paycoin2/

Cheers mate, I heard there's a lot of angry Paycoin investors because the team behind it didn't actually have credible infrastructure in place:

https://www.cryptocoinsnews.com/josh-garza-address-growing-paycoin-paybase-scam-concerns-tnabc-miami/

Hyena

legendary

Activity: 2114

Merit: 1015

Made my day Cheesy

AceWallen

sr. member

Activity: 479

Merit: 500

Quote from: panju1 on January 04, 2015, 12:41:45 AM

Quote from: twister on January 03, 2015, 10:17:01 PM

Well this be a good time for those who wanted to buy low. Get in while you can.

That was advise we received when the price neared $400.

indeed -- there is no reason to jump in without waiting for a clear reversal. the trend is clearly down on higher time frames. hopefully we will either see a deep spike down to exhaust sellers, or we'll see a more obvious dying out of momentum. but for now (even if we have a token bounce from $270-280)... down.

panju1

legendary

Activity: 1246

Merit: 1000

Quote from: twister on January 03, 2015, 10:17:01 PM

Well this be a good time for those who wanted to buy low. Get in while you can.

That was advise we received when the price neared $400.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

twiifm

hero member

Activity: 784

Merit: 500

Quote from: RomertL on January 03, 2015, 11:27:08 PM

Quote from: NotLambchop on January 03, 2015, 01:53:06 PM

^
Lol, I'm afraid your pinup girl just ain't into you, and certainly wouldn't be seen with you in public Sad

"Qestion:
What do you think of the libertarian movement?

Ayn Rand:
All kinds of people today call themselves “libertarians,” especially something calling itself the New Right, which consists of hippies who are anarchists instead of leftist collectivists; but anarchists are collectivists. Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism. That’s worse than anything the New Left has proposed. It’s a mockery of philosophy and ideology. They sling slogans and try to ride on two bandwagons. They want to be hippies, but don’t want to preach collectivism because those jobs are already taken. But anarchism is a logical outgrowth of the anti-intellectual side of collectivism. I could deal with a Marxist with a greater chance of reaching some kind of understanding, and with much greater respect. Anarchists are the scum of the intellectual world of the Left, which has given them up. So the Right picks up another leftist discard. That’s the libertarian movement."--Ayn Rand Answers: The Best of Her Q&A, ed. Robert Mayhew

To be honest, I'm quite new to Ayn Rand, I'm just now finishing Atlas Shrugged and haven't red anything else yet. But I find myself agreeing to nearly 100% of the message in that book, and lot's of my favorite anarcho-capitalists like Jeff Berwick and Stefan Molyneux like her a lot. I've also heard though, that anarcho-capitalism and objectivism isn't compatible although I haven't explored why yet. What's your take on that, what's the fundamental difference? "Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism." Well, who says there can't be laws in an anarchistic system? Anarchism means "no rulers" which is not the same as no laws. Laws can be privatized, there's whole books written about that. More interestingly, contracts made in the blockchain can be created so they can't be broken. They can be made so if a certain criteria is fullfilled, btc automatically moves from one wallet to another, making law redundant in many cases! The law is in the code and enforces itself! When Ayn Rand was still around, there was no way anybody could have predicted such a revolutionary technology. Maybe she would change her stance if she were alive today.

Are you reading what you are writing? Laws are enforced by the state. You can have contracts but it's useless unless it can be enforced. Private judicial system? Yeah right. Good luck trying to sue a mega corporation who fucked you over

RomertL

sr. member

Activity: 470

Merit: 250

Quote from: NotLambchop on January 03, 2015, 01:53:06 PM

^
Lol, I'm afraid your pinup girl just ain't into you, and certainly wouldn't be seen with you in public Sad

"Qestion:
What do you think of the libertarian movement?

Ayn Rand:
All kinds of people today call themselves “libertarians,” especially something calling itself the New Right, which consists of hippies who are anarchists instead of leftist collectivists; but anarchists are collectivists. Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism. That’s worse than anything the New Left has proposed. It’s a mockery of philosophy and ideology. They sling slogans and try to ride on two bandwagons. They want to be hippies, but don’t want to preach collectivism because those jobs are already taken. But anarchism is a logical outgrowth of the anti-intellectual side of collectivism. I could deal with a Marxist with a greater chance of reaching some kind of understanding, and with much greater respect. Anarchists are the scum of the intellectual world of the Left, which has given them up. So the Right picks up another leftist discard. That’s the libertarian movement."--Ayn Rand Answers: The Best of Her Q&A, ed. Robert Mayhew

To be honest, I'm quite new to Ayn Rand, I'm just now finishing Atlas Shrugged and haven't red anything else yet. But I find myself agreeing to nearly 100% of the message in that book, and lot's of my favorite anarcho-capitalists like Jeff Berwick and Stefan Molyneux like her a lot. I've also heard though, that anarcho-capitalism and objectivism isn't compatible although I haven't explored why yet. What's your take on that, what's the fundamental difference? "Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism." Well, who says there can't be laws in an anarchistic system? Anarchism means "no rulers" which is not the same as no laws. Laws can be privatized, there's whole books written about that. More interestingly, contracts made in the blockchain can be created so they can't be broken. They can be made so if a certain criteria is fullfilled, btc automatically moves from one wallet to another, making law redundant in many cases! The law is in the code and enforces itself! When Ayn Rand was still around, there was no way anybody could have predicted such a revolutionary technology. Maybe she would change her stance if she were alive today.

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: cshelswell on January 03, 2015, 09:31:41 PM

If you just hoard though they've not really got any value at all. What would you do with them other than buy and sell?

Markets work when people place their own subjective value on something.

I own 44 BTC.

I used to own quite a few more which I traded against fiat, alts scams and other bullshit. I'm now done with that as I lost quite a bit.

I don't want to loose any more.

I won't be trading the rest of my BTC for anything - even if it goes to zero. I certainly won't be trading it for the US dollar because I value BTC over the US dollar.

twister

hero member

Activity: 672

Merit: 502

Well this be a good time for those who wanted to buy low. Get in while you can.

Topic: 300 is broken, to never see again - page 2. (Read 6267 times)