Topic: $473 on bitstamp? WTH! - page 2. (Read 6748 times)

Ok... I'm marking it right now 

+[insert large number here]
You don't avoid selling shares, thereby depriving your family, so that someone else enjoys an artificially high price, that can't be realised until they sell anyway...

Families?

The average bitcoin user is a 20-something upper-middle class white libertarian male with money to lose. There are also these wealthy Chinese guys who pumped money into the market in the fall, and the venture capital firms and investment trusts. I don't think there is anyone here using bitcoin to try to feed their family. Everyone here is in the same game - to try to get as much money as possible, and came into it with the knowledge that their entire capital is at risk at all times. Almost nobody 'invests' in bitcoin just to help the technology - to do that they USE bitcoin, write code, or create services for it.

Your thinking is actually reflecting that of a ponzi scheme. "If you remove money, we lose". If bitcoin price was actually supported by its underlying economy, then people 'removing money' shouldn't be a problem.

This is not a good sign.

The only reason why somebody should lose money/value is if he/she pays too much for a bitcoin. and why should anybody sell it to them for less than it's worth? or even a fair price? if they pay too much, they have just given their money away, and it's nobodies fault but their own. If they then panic sell when they see the price fall, that is their fault too.

gambling at a casino is much worse, because everyone loses eventually at a casino, and they cant feed themselves either. bitcoiners have made a net profit because they have provided a service of liquidity and capital support to a very innovative technology.

I mostly use Bitcoin to buy altcoins at the moment, will buy and hold BTC if/when it dips below $200

Damn straight.

A long journey towards reaching a price actually representing the btc economy rather than chinese pumping and gox pumping. An anemic bitstamp orderbook that's going to have to support itself soon.

God I wish I had $10,000 right now 

Now it is recovering slowly. Reached $500 mark again.

massive bitcoin sale!!!!

Get them while they are cheap. Just make sure to keep some fiat, in order to buy more if it reaches 300!

I feel for you on your losses today, but seriously when did you think day trading wasn't gambling?  Some people are good at it, some people aren't.   I like gambling as well, but I know enough not to "invest" the rent or grocery money on gambling.  I really like bitcoin, but I still keep 2/3rd of my fungible assets as cash.  I saw about a grand worth of USD evaporate today on my bitcoin holdings, but I've seen it go up as fast as it goes down.   If I really couldn't do without that grand, I wouldn't have bought bitcoin with it.

Bitcoin is going to be very volatile until the tipping point where commerce is greater than speculation.   I think American companies like Coinbase and Bitpay are going to make this happen in the USA.  Americans are much too libertarian to allow a government crackdown on bitcoin.   For example, there's horrific mass shootings in the news, yet it is impossible to institute regulations that the attempt to prohibit the mentally ill and criminals from buying guns.  Do really think they can outlaw bitcoin just to keep some kid from buying drugs online?


The US government had a hand in designing Tor as well.   The purpose was to protect and enable political dissidents in countries that we feel morally superior to.

There's nothing about bitcoin that makes it inherently criminal.  If you are a US citizen, by law you have to pay your taxes.   You have to pay your taxes on making money trading gold, silver, bitcoin, or some bullshit stock.  You should know the rules when you leave a W2 job.   Even criminals (the smart ones, at least) know how to at least look like they are playing by the rules ever since Al Capone went down on tax evasion. BTW, you should know if you make an honest mistake in your tax return, the statute of limitations is only 7 years (the amount of time you need to store your records).  There's a longer limitation if you did something criminal (willfully made a fraudulent statement on your tax return) that requires a criminal conviction (proved beyond a reasonable doubt).

I think the shorter and more humurous answer to the OP's question would be Panic Sell Attack !! 

My experience with BTC.

Bought in, price dropped, bought in, price dropped, bought in, price dropped bought in price dropped.   Ive seen one gain while holding coins I didnt have to get rid of to pay for the massive drops in exchange rate, and could get no sell orders queued because the btc billionaires started selling cheap the same moment.  I dont not believe these bitcoin billionares I speak of are individuals who invested but are the same groups who manipulate the markets.

Daytrading has wasted my last 3 years, its amazing how much time we spend on 'hope' when we could just be doing something, producing something of value, offering a service, learning something new,etc. Trying to make money I didnt earn has been a wakeup,. Not bashing anyone,but this is worse than gambling, because families lose out when you cash in, not a casino. Every extra piece of pie is on that came off someone elses plate.

I will be 100% honest, I feel like BTC will never spike upwards again. 

Im done.  The only way I've broke even is rapid selling at dishonestly high increases for payment methods that scream "Minor buying drugs on Silk Road" (would else would pay 25% over?), now that fed has btc on the books, turns out theres a good chance they created it (Yes Dorian is the creator, care to acknowledge who he was working for at the time??) to create financial criminals out of average citizens, to play a role in the destruction of the dollar and help bring about new currency laws [which will make owning untrackable currency illegal], I dont need the IRS knocking on my door 10 years from now over some legal-financial technicality no current legal team would understand, but thats exactly what I see coming out of the whole ordeal. The United States government has shown us all that they criminalize income more than anything.


Bitcoin was created by the collective forces that desire to criminalize the un approved, un documented, private transfer of money. You will see a time in our lifes where it is illegal for even five dollars to trade hands without being recorded to a federal server.

Show me your poker face!  Lol

just look at the chart.  Its called a downtrend and it is well intact at the moment.

The original poster brings up a good question.  But I think alot of people got caught out there holding the bag so to speak and their hands are a bit shaky but who knows certainly not this guy.

oh noes the price is only 4x higher than it was 6 months ago.  we're all doomed.

I'm very sorry to hear that, and I hope it is less severe than you think right now. It should bounce back sooner than later, I think. If you have an income and can live within your means you will recover.

When I was (briefly) a financial planner I was taught this advice: Savings should be structured like a pyramid. You want a stable, conservative base. Not something to get rich quick with, but something that you won't lose and will provide for emergencies and needs down the road. Then as you get more savings without any near or mid-term need for it (like a car in a few years or a summer vacation coming up), you can pick riskier, higher-return investments. But build the foundation first, and make sure those near and mid-term needs are covered with safe investments for when the time comes and you need that money.

After all these years i avoided bitcoin, but just month ago i purchased 5 bitcoins.
After my purchase it never went up. Day by day the price is dropping. My bad luck:-[