BTC Going back to $100 - page 4. | Bitcointalksearch.org

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: kafka on December 07, 2013, 03:31:02 AM

A liquid Indian exchange is the need of the hour, I believe there is a market for it in India. What surprises me is no one has set one up yet.

Vanilla flavored buying and selling cannot be regulated, but in the event of customers matching their own orders, etc, Extensive regulatory permissions are needed in India.

Also, there is no 100% secure solution as yet. So, it will have to be an Enterprise effort, probably Buttercoin?

kafka

newbie

Activity: 8

Merit: 0

A liquid Indian exchange is the need of the hour, I believe there is a market for it in India. What surprises me is no one has set one up yet.

ajax3592

full member

Activity: 210

Merit: 100

Crypto News & Tutorials - Coinramble.com

Quote from: buysellbitcoin on December 07, 2013, 03:27:42 AM

Quote from: ajax3592 on December 07, 2013, 02:40:42 AM

Quote from: buysellbitcoin on December 07, 2013, 02:34:23 AM

Quote from: Coin.Karma on December 07, 2013, 01:26:52 AM

Quote from: daserpent1 on December 06, 2013, 11:39:44 PM

As you might know already, Chinese and French banks are no longer supporting any transactions that involve bitcoins. Therefore, all chinese traders are doing a massive BTC dump.

I just sold all my BTC (made a loss but with this crash, its better to get out sooner than later)

Sources:

http://www.smh.com.au/business/markets/currencies/china-bans-banks-from-bitcoin-transactions-20131206-2yugy.html
http://articles.economictimes.indiatimes.com/2013-12-05/news/44808398_1_pseudonym-satoshi-nakamoto-bitcoin-trading-platform-chinese-banks
http://business.time.com/2013/12/05/bitcoin-plummets-after-china-bans-it-from-banks/
http://www.bbc.co.uk/news/technology-25233224
http://www.reuters.com/article/2013/12/05/china-bitcoin-idUSL4N0JK1KZ20131205
http://www.aljazeera.com/news/asia-pacific/2013/12/bitcoin-value-dives-after-china-banks-ban-2013125141919464366.html

First Crash - 32$ to 2$ - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.

Can not agree more !!!

Regards

When are we resuming the trades, buysellbitco.in?

We will resume as soon as market shows a bit stability. There is no way we can setup fair buy or sell price if market is swing 100+$ ( over 13% in less than 5 minutes )

We need a stable market to get fair price references. We are not an exchange where you deal with other traders. When you do any buy or sell on buysellbitco.in you will be buying or selling from us and we can not open again until market is a bit stable.

Regards

Let's assume it gets stable at 300-400, will you resume trading then?

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: bitcoinisfurture on December 07, 2013, 03:24:14 AM

Quote from: Benson Samuel on December 07, 2013, 03:19:58 AM

Quote from: bitcoinisfurture on December 07, 2013, 03:16:54 AM

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

I do not understand this. If you want to day trade at this scale, you should be connected to every international 'fluid' exchange.

What would you have done if Bitcoin kept going up and hit 100K instead?

If you have some insider information on how you were sooo sure of this crash, it would help us a lot.

buysellbitcoin

legendary

Activity: 1105

Merit: 1001

https://www.zebpay.com

Quote from: ajax3592 on December 07, 2013, 02:40:42 AM

Quote from: buysellbitcoin on December 07, 2013, 02:34:23 AM

Quote from: Coin.Karma on December 07, 2013, 01:26:52 AM

Quote from: daserpent1 on December 06, 2013, 11:39:44 PM

As you might know already, Chinese and French banks are no longer supporting any transactions that involve bitcoins. Therefore, all chinese traders are doing a massive BTC dump.

I just sold all my BTC (made a loss but with this crash, its better to get out sooner than later)

Sources:

http://www.smh.com.au/business/markets/currencies/china-bans-banks-from-bitcoin-transactions-20131206-2yugy.html
http://articles.economictimes.indiatimes.com/2013-12-05/news/44808398_1_pseudonym-satoshi-nakamoto-bitcoin-trading-platform-chinese-banks
http://business.time.com/2013/12/05/bitcoin-plummets-after-china-bans-it-from-banks/
http://www.bbc.co.uk/news/technology-25233224
http://www.reuters.com/article/2013/12/05/china-bitcoin-idUSL4N0JK1KZ20131205
http://www.aljazeera.com/news/asia-pacific/2013/12/bitcoin-value-dives-after-china-banks-ban-2013125141919464366.html

First Crash - 32$ to 2$ - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.

Can not agree more !!!

Regards

When are we resuming the trades, buysellbitco.in?

We will resume as soon as market shows a bit stability. There is no way we can setup fair buy or sell price if market is swing 100+$ ( over 13% in less than 5 minutes )

We need a stable market to get fair price references. We are not an exchange where you deal with other traders. When you do any buy or sell on buysellbitco.in you will be buying or selling from us and we can not open again until market is a bit stable.

Regards

legendster

hero member

Activity: 1778

Merit: 764

www.V.systems

Quote from: bitcoinisfurture on December 07, 2013, 03:24:14 AM

Quote from: Benson Samuel on December 07, 2013, 03:19:58 AM

Quote from: bitcoinisfurture on December 07, 2013, 03:16:54 AM

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

Lets say you are a SITE.
You buy coins to curb your user's demands.
You invest your own money & profit money into increasing your stocks.
And suddenly this happens. NOW you run the risk of bankruptcy if you dont cash out soon enough. BUT if you do, you will add further to the crash.
So what would you do ?

bitcoinisfurture

hero member

Activity: 700

Merit: 500

Quote from: Benson Samuel on December 07, 2013, 03:19:58 AM

Quote from: bitcoinisfurture on December 07, 2013, 03:16:54 AM

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

legendster

hero member

Activity: 1778

Merit: 764

www.V.systems

Quote from: Benson Samuel on December 07, 2013, 03:20:36 AM

Quote from: legendster on December 07, 2013, 03:18:42 AM

Quote from: Benson Samuel on December 07, 2013, 03:15:24 AM

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

I m selling NOT my stock coins, I learned that from my last crash.
But If anyone wants coions let them talk to me & i ll explain the rates.

I asked you that question to prove to the thread that even with your margins, even you will not sell at this moment.

Thanks for feeding it

A simple eye wink would have sufficed.
The point is not to sell when the prices are low instead use whatever loose cash you got to BUY coins. That is the only way to protect everyone.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: legendster on December 07, 2013, 03:18:42 AM

Quote from: Benson Samuel on December 07, 2013, 03:15:24 AM

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

I m selling NOT my stock coins, I learned that from my last crash.
But If anyone wants coions let them talk to me & i ll explain the rates.

I asked you that question to prove to the thread that even with your margins, even you will not sell at this moment.

Thanks for feeding it

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: bitcoinisfurture on December 07, 2013, 03:16:54 AM

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

legendster

hero member

Activity: 1778

Merit: 764

www.V.systems

Quote from: Benson Samuel on December 07, 2013, 03:15:24 AM

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

I m selling NOT my stock coins, I learned that from my last crash.
But If anyone wants coions let them talk to me & i ll explain the rates.
--------------------------------------------------------------------------
You can tell by my grammar and spelling errors that I m a bit shaken right now.

bitcoinisfurture

hero member

Activity: 700

Merit: 500

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: legendster on December 07, 2013, 03:11:56 AM

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

legendster

hero member

Activity: 1778

Merit: 764

www.V.systems

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: bitcoinisfurture on December 07, 2013, 03:07:28 AM

Buysellbitco.in many times the stock is out and when you guys have stock it will resume the business when the prices become stable.

Firstly, few users may like to trade in the volatility, so when having stock why not you buy/sell them.

Secondly, there is no guarantee of prices to be stable as it may reach to $100 or again back to $1000 in few hours. So why not let people who wants to trade can use your services?

Is it always about what the users like? Or is there a place where the business needs to protect interests as well?

Just askin!

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: ajax3592 on December 07, 2013, 03:05:59 AM

Quote from: Benson Samuel on December 07, 2013, 03:04:20 AM

Quote from: ajax3592 on December 07, 2013, 03:00:25 AM

Quote from: malaimult on December 07, 2013, 02:56:42 AM

Quote from: Benson Samuel on December 07, 2013, 02:50:51 AM

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1 true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

Few weeks ago, prices were at 100$ 'ish. Did you start waiting after that? or before?

However, I do feel your pain. But this is a market force that cannot be subdued.

You can try to purchase from americandesi as well who has direct access to exchanges, but I do not think that even he would want to trade in this volatility.

I came in to Bitcoin scene on Nov 6 when it was around ~250. Wanted to atleast study the market for a week before getting in but it doubled by then.

Uff, thats a bad one mate. Hope that you do get your hands on some Bitcoin.

But TBH, I was the one who pinged buysellbitco.in this morning and asked him to shut shop as this can hurt our community more than an individual trader.

If you are keen on capitalizing on a crash, get yourself registered, etc on the international exchanges where fluid trading and large volume is allowed.

bitcoinisfurture

hero member

Activity: 700

Merit: 500

Buysellbitco.in many times the stock is out and when you guys have stock it will resume the business when the prices become stable.

Firstly, few users may like to trade in the volatility, so when having stock why not you buy/sell them.

Secondly, there is no guarantee of prices to be stable as it may reach to $100 or again back to $1000 in few hours. So why not let people who wants to trade can use your services?

ajax3592

full member

Activity: 210

Merit: 100

Crypto News & Tutorials - Coinramble.com

Quote from: Benson Samuel on December 07, 2013, 03:04:20 AM

Quote from: ajax3592 on December 07, 2013, 03:00:25 AM

Quote from: malaimult on December 07, 2013, 02:56:42 AM

Quote from: Benson Samuel on December 07, 2013, 02:50:51 AM

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1 true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

Few weeks ago, prices were at 100$ 'ish. Did you start waiting after that? or before?

However, I do feel your pain. But this is a market force that cannot be subdued.

You can try to purchase from americandesi as well who has direct access to exchanges, but I do not think that even he would want to trade in this volatility.

I came in to Bitcoin scene on Nov 6 when it was around ~250. Wanted to atleast study the market for a week before getting in with fiat, but it doubled by then.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: ajax3592 on December 07, 2013, 03:00:25 AM

Quote from: malaimult on December 07, 2013, 02:56:42 AM

Quote from: Benson Samuel on December 07, 2013, 02:50:51 AM

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1 true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

Few weeks ago, prices were at 100$ 'ish. Did you start waiting after that? or before?

However, I do feel your pain. But this is a market force that cannot be subdued.

You can try to purchase from americandesi as well who has direct access to exchanges, but I do not think that even he would want to trade in this volatility.

ajax3592

full member

Activity: 210

Merit: 100

Crypto News & Tutorials - Coinramble.com

Quote from: malaimult on December 07, 2013, 02:56:42 AM

Quote from: Benson Samuel on December 07, 2013, 02:50:51 AM

buysellbitco.in should keep his shutters closed till the prices get back up.

He has supported the India community all the way from US $8 until now.

Hurting his business can only hurt our community more.

Nobody wants to shut down because of a massive loss.

All being said, there needs to be a fluid exchange where people themselves can take their risks and the business itself does not take a beating, but that is another business model.

+1 true

And what about someone that has waited weeks to buy some coins in between a crash from buysellbitco.in? Where do they go now

Topic: BTC Going back to $100 - page 4. (Read 18933 times)