Topic: Bitcoin down big time...down $200 in a few hours - page 2. (Read 2984 times)

No I am not talking pump and dump, what I am saying is the bitcoin (crypto currency) is here, and will be now forever. It's the infrastructure that needs tending to.

Example: when I try to explain bitcoin to family or friends the very first words out of their month is, "what can you do with bitcoin." What I am saying is that it will only benefit bitcoin, bitcoin use, and bitcoin markets if the bitcoin communities EDUCATE rather than try to dominate.

NO pump and dump, but pump! The more "public awareness" the better bitcoin will function as a whole. And this in turn will help every one including traders. Therefore it is in everyone's best interest to educate the masses in the use of digital currencies. 

Only that bitcoin is not a pump and dump scheme. And we are fed up with volatility already. We don't want to add more. Slow and steady growth is what we should look for from now on.

In relation to my last post:

If everyone on bitcointalk posted a blog, make a tweet, or posted an FB status, or for that matter any social media activity in relation to bitcoin at the exact same time on the exact same day you/us as traders would see the benefit with in hours.

But this is nothing new! Big corporations do it daily. They know and time their advertizing to the second. What is the real goal of CEO's and presidents....? PUMP the stock!! How? Sell the goods!   

Do you think the price will drop down to the single digits again

I've been a long time stock player, made a fortune in 2008 off of AIG and Citi Group, now it's bitcoin plays that interest me, why? Because of it's volatility! I as with many speculate that "corrections will be made from time to time; what bitcoins volatility charts show is when to buy and when to sell. But this truly means nothing unless the value can be turned into good and services a consumer wants.

Here in is the problem, if as a trader you want more consumer goods using bitcoin what should you do?

#1 quick hipping the trades and start selling! You do this buy pointing consumers to the websites and businesses which accept bitcoin in trade.

#2 There is NO number two; as a trader help promote websites and businesses. it's common sense. Your goal may be to trade but it's and "end justifies the means" type of deal. Don't sell the market, no one cares and unless they understand trading they will never get involved.

Write blogs about the websites the accept bitcoin, tweet businesses that accept bitcoin. Stop talking bitcoin to people who do not understand and start selling the goods and services. The learning curve of bitcoin will follow at it own pace.

And any trader worth their salt knows one simple fact.... Who cares what the price is! If you buy low and sell high you make money. The problem is do you have enough money to play the game low as well as high!

Tommorow will be interesting what happens, so far the price fall slowed a lot, so it might become just small dip in graph data

There is a lot of instability. Individually, the volatility creates opportunity but does make people anxious.

Fundamentally, the advantage of digital currency over fiat will eventually come from the backbone, not the skin.  In my opinion, the coins themselves are the shiny object but the quick, accurate, and secure transfer of value will be what makes the digital coin world possible.

The problems that Crypsy is having is a major wakeup call.   People have to have confidence their money - be it bitcoin or yuan or dollar - is safe and accurately accounted for over time.

I think this is a buy opportunity
Thinking of buying some later today

This is becoming ridiculous, they called it joke coin for a reason !

Is this due to the news from China and from Dogecoin rise?  Are people sick of Bitcoin?  I think this smells of market manipulation.

Worst case scenario is that it will return to pre china hype levels. Although the hit will be huge because something that went for 1200$ to 200$ is not going to become appealing to investors any time soon.

Soon not profitable anymore, so lets mine while we can

$400/day shifts are nothing new for bitcoin. It will re-equilibriate

GPU scrypt mining is better

BitCoin will grow and grow in next year.

As new developing markets will adopt Bitcoins more (in search of easy money, no more no less) price of bitcoin will pick up again due to demand- supply relationship. Bitcoin is starting to show up more in India and Indonesia for example, so no worried it will get back up there, due to speculators

Yes, it is less and less worry some and each time the bottom is above the previous one. It's fairly easy to use it to BTFD (buy the f*cking dip) for a buy and hold strategy, and also to daytrade it without too much risk.

Price is not falling so fast anymore, seems clasical dump and spreading some FUD.

This is the time to buy btc 

Don't worry. It'll be back up to its normal price range. And of course, it will then go down again. It's a vicious cycle.