Topic: Bad Day for Bitcoin. Cryptsy finally admitted theft and Mike Hearn tells truth - page 2. (Read 4420 times)

I disagree. When Europe wakes up in just a couple of hours it may just as well cause a lot of people to buy in cheap. I have been waiting for the price movement for almost 2 months now, the price wasn't high enough to sell ($500) nor low enough to buy in. 350€, however, is a great price to buy. Why would we see more panic selling? There is no real reason, bitcoin works normally, cryptsy is extremely old news that is just confirmed now, and the blocksize issue needs to be solved for Bitcoin to grow and have a future on a greater scale, literally.

I agreed on this. A lot of people now sell their bitcoins.
Because they are afraid to lose more money.
But guys. do you think we should be really afraid of it?
Who buys bitcoin before 3 months ago already double their,
money. So even it goes down to 300 usd. It wont really
hurt. Besides theres still halving coming. What do you think guys.

I see the price has dropped again 10 usd. This will keep happening everything a new nation wakes up until it is below 200. It's a mass sell off based on the desperate selling and price reduction caused by the nation that has just gone to sleep..

Not a good day at all

I see good news only. Hearn has left together with his failed xt take-over attempt. Cryptsy is hopefully gone and with it half or more of all altcoins out there. By adding a new shitcoin every day driven by pure greed, this exchange is mainly responsible for the bad state altcoins are in altogether. There should have never been hundreds of shitcoins in existence, new pump and dumps every week were discrediting the effort of perhaps some truly innovative coins out there. Now with that out of the way, the community approach of Bitcoin Classic (hard fork to 2mb block size limit) is definitely an advantage over core. Bitcoin is allowed to scale, yet it isn't going to kill everyone's hard drives out there. Most pools accept it and the Bitcoin price can only go up mid-term because of it! Even the price drop is very good as it gives new adopters a chance to get in and some of us another chance to buy some more coins at a bargain price. The halving will come. The positive effect will hit, if not in 2016 I'm sure in 2017. No problem at all waiting for just a year here.

Well that made me lol anyway  

The most interesting thing is to watch the transactions and see if many people start to complain about the fees. I think any fee below $1 can be accepted but if the capacity have reached limitation then the fee will shoot up quickly

However, if the fee shoot up quickly, it indicated that the bitcoin is super hot, then maybe the price will also shoot up quickly. Imagine that you are rushing to buy some stocks and the broker tell you that now you have to pay a premium in fee to get this stock delivered to your portfolio, would this prevent you from purchasing it? Quite opposite, people will think that this stock must be super hot, the frenzy will be higher 

Of course only the reality will tell

lol...

its time to buy some btc...


hope to see 500 level crossed soon..... 

I did sell but not just because of him... because at the same time a major exchange went down.. why would I want it to go down further if I already sold?? For my ego? Nope it's just the reaction of the community. Every action has a reaction blah blah blah

Mike Hearn sold his coins before he dropped the stupid FUD, even Gavin Andreseen has already said that Mike Hearn is exaggerating. This guy has been nothing but a disease for Bitcoin for a while and it's good news that he has finally and officially gone the bankster route (as if it wasn't clear enough with his R3 partnership). And now you are only contributing to this FUD, I assume OP has already sold and doesn't want to feel like shit so he wants the price to go lower.

You are no different than Mike, you first sell your bitcoins or you say you do and then you start talking smack about it. We do not need people like this in the community and we

are better off without people like that. Your title of this thread is misleading... What truth are you referring to? The only truth in his statement is that he was part of a group of

people who sabotaged Bitcoin by dividing the community. I feel pity for the people who followed him and now he abandoned them and joined the banks. 

Yeah and now they admit they won't give us back our coins...

http://www.newsbtc.com/2016/01/14/cryptsy-sued-for-holding-nearly-us5-million-of-user-funds/

big companies claiming bitcoin stolen are just fake...

they just want to hide their crime...

One day, a person said some words, bitcoin to fail,
so, bitcoin is doomed to failure, because a person think it will fail, this is a big joke

thanks for the sympathy.. Cryptsy was a tool for me and not for storage. my laptop is full of alts trust me. I was simply trying out a trading technique. So one of the main exchanges failed me.

I am not bothered by the crash of price as I sold already. so now when I watch it crash thats fine but I also feel bad for everyone not luckyenough to sell already... Of course it will recover but the main news is not yet out...

It will go lower its a double whammy

I think that today is a bad day for you (and for this I am really sorry) but what have to do bitcoin itself with the problems of Cryptsy, its developers and to whom of us who have losses because of the wrong "play" with it I cannot understand. I am following every moment the movements of the price and seems that bitcoin is suffering (maybe the situation happen at Cryptsy. The exchanges are preferred target of thieves/hackers and there are nothing new here. But what have to do this action especially with the crypto I again cannot understand. We hear attacks or steal of money from the banks almost every day and no one tell that the fault for this have to do with the money they have.

I really understand the situation in which is OP and repeat that I feel deep sorry about his situation (spiritual and mental) but I am sure that if he will return to this matter after a few time (or even not few) will understand that the crypto (like every kind of currency) is only a tool which have no mind to act itself. It is a tool which only is used by everyone and have any kind of responsibility about the misuse or not good use of it.

To tell the right I have invested on 2-3 crypto but I will not trade with those. Hope in their higher value in time. That's all. Then have other sources which give me money everyday in which I have invested money and bitcoin. If OP prefer I can present those to him. Maybe can satisfy its desire to find other sources of earnings.

Think positive...

such thing is not new (not atleast to bitcoin)...

Bitcoin has survived in the past and will survive this too...

as to Mike Hearns statement, It just show his frustration as to things did not go as he wanted to....

The only concern probably is the chines companies having most of the miners... that can be resolved...

there is nothing to worry much,...

(this is my personal view... I donot even have 1 BTC .... )

I believe the community is strong enough now to bear the "loss" after the Mt.gox and various hacking events. Hope the price will rise up again few days later.

Sad to hear you feel this way. Even with all the negativity, if bitcoin drops again, you are able to buy back for low and when bitcoin rises in value again you will be able to sell and make profits. I'm sure bitcoin can come back from this.

Quite sad. When I read the post I thought how can it even affect bitcoin prive but when I checked the prices later, it did affect extremely. It's a massive drop. I'm really confused where to go from here. Yes I'm obviously not selling my coins, no matter what.

It's time to buy. This crisis is temporary.. for my opinion