Topic: Crash! price of BTC - page 3. (Read 2910 times)

I want to add something here,

Satoshi developed a very great system here, however the people who applied the idea were lazy to make it user friendly!

if you know what "SEO friendly" then you will know what I will say.

websites stopped doing this: www.mydomain@com/54906u8erjg430u089tgroidlytou948
Instead they made it like : www.mydomain@com/ homepage, or www.mydomain@com/registration

those addresses and private key should run like they are in the back end as they are now:  4309u645jgskndlkgjw985u60jgoijsot98gu5298uy89yhsghuy598yu698jhoig98w5yu98y
But they should appear to the average user as:

Username: Tara Lance
Password: 34tomorrowsun98

In addition to more things that can be added to make the BitCoin system more user friendly and safe.

How about the Australians?

Don't start blaming it on the communists or whatever, it has nothing to do with it, the system is too risky, why do you people not want to understand that?

The system is not built for the average user! here is the prove: this is only one case out of tons

https://bitcointalksearch.org/topic/btc-e-account-hacked-564322



My 2 cents: I learned that from etrade.com on one of their training videos, if people are selling then you want to be a seller, if people are buying then you want to be a buyer, DON'T BE A HERO!

I kinda knew someone will bring that again, I didn't see Amazon or Walmart dealing with it yet and you need to understand how amazon operate and how walmart operate

Amazon is a "willing to take risk" business, they adopted the digital books (ebooks) when it first came out and they made a fortune from it, they sold so many kindles for a loss just because they knew later they can make the money back off of sales. YET amazon didn't adopt this BitCoin sales yet.

Walmart is a "only safely things" business, they usually adopt anything the last after they know very sure it is safe to use, like mobile shopping for example. YET they didn't adopt BitCoin yet.


As for tigerdirect.com the reason they adopt it is because they are electronic store and I think (I am not knowledgeable with BitCoin mining) they sell BitCoin Mining product so they found it profitable to deal with BitCoin since miners mine BitCoin and use to buy those product.

As for Overstock.com, they are trying to compete with Amazon and since Amazon was one of the first to adopt almost every digital sales (ebooks and online stores ..etc), overstock.com thought they can beat amazon this time with the BitCoin and now overstock is on the news more because of that announcement. and it is a profit for them since the very BitCoin beginners and supporters (whether through the profit they made or through just to popularize the BitCoin) go and shop there at overstock.com and support the BitCoin. Overstock is same like many of games and App makers selling for BitCoin and IMMEDIATELY trade for $$$ cause they are selling! I would do the same if I have an online business, if people are willing to spend BitCoin then I would sell for BitCoin WHILE if people are willing to spend $$$ I would sell for dollars!

I myself, didn't go buy BitCoin so I can shop at overstock or tigerdirect, I can always use my debit card to shop there (no charge on me and no fee)!, the merchant will take it!
Yes Credit card processors charge the merchant for the transaction, but so BitCoin charge a fee for Wallet to Wallet transfer and (when I did that earlier) the website I was moving my BitCoin to requires 6 CONFIRMATIONS which took a while until the transaction happened while with Debit or Credit cards are instant approve!

Some will say many features for BitCoins are free, I agree, but in the future when BitCoin will become popular, they will start charging fee for everything, and again the more they will try to secure the system the more fee they will charge when you deal with BitCoin
It happened, the same thing with every single business, banks or transportation or even websites and data. have you seen a data center before? it has like bullet prove glass and guards ..etc.

WHATSUP started free, now they charge 99c I believe. same thing many other businesses.

That's I believe is because of government orders

Why? The bitcoin sales on Overstock and TigerDirect are pretty big.
http://www.coindesk.com/tigerdirect-tops-1-million-total-bitcoin-sales/

BitCoin is supposed to be cash money for people (read the the BitCoin wiki and the example about if you go buy from a store and hand the cashier $20 or read the example about identity theft risks when you hand the waiter your credit card)
Now people used to hide their cash money before at home (mattress, pillow, safe ..etc) which no one knows how much you have and how much you spend or how much you earn.
Later on when thieves start robbing those houses, then banks came out, people started to put their cash money in banks, they gave up their anonymity and their income info ...etc in order to be safe and protect their hard earning money. Point is: Banks came for a reason!
Also how many of you check the neighborhood before renting an apartment? cause you don't want your kids be around drug dealers or arm dealers ..etc? well BitCoin world right now if full of those people which help increasing drugs and all kind of crap around where you live slowly, they found a great way to hide themselves behind BitCoin!

Majority of website now that deal with BitCoins keep you anonymous, you only need any email and a password to start buy and sell BitCoin.

If you lose your private key, you are done, your whole money is gone, no way to retrieve it, otherwise MT GOX would have been able to fix their crap. how many people here on this forum posted a thread losing their BitCoins?
Even if you back up your private key on your desktop, how many people click on different links online everyday? watch porn? or check new websites? ...etc regardless what's the reason, the average person do click on many links everyday or download some crap or even go to those file sharing websites, or download a movie or or or...etc, any of these links can have a virus with it and then you are screwed.
BitCoin is not built for an average person to deal with so far, many people don't understand how to protect their BitCoin account.

Major Big Banks don't want to handle their customers BitCoins accounts saying it is too risky, SO HOW ABOUT A NORMAL PERSON?

This private key crap and anonymity on the websites need to come to an end. Wallets and Exchange websites need to start asking (on Sign up) for the person name, Date of Birth, secret question ..etc, or Even have them Sign in with their FACEBOOK account.
THOSE PRIVATE KEYS NEED TO BE LINKED TO A PERSON INFORMATION, so in case of theft they can prove who own the money and who stole it.

Even Smart people like (danny) says that after 10 or so years when there is too many people dealing with BitCoins then they will have to change some algorithm or do this or that, proving that even if the system is secure for the time being (which is not since 100s of millions of dollars were lost so far and never recovered), still the system on the long run is not secure enough.

Until the founders or whoever find a way to link (or change) those private keys to names and address and SSN or whatever, THE SYSTEM WILL ALWAYS BE TREATED AS TOO RISKY! and it is preventing it from advancing so far, otherwise BitCoin by now (after 5 years) would have made it and became the world number currency!

As for those of you who like to avoid taxes and don't want to pay shit to the gov., well again my tax pay for the police and I like knowing that there is a policeman out there is willing to die for a motherfucker like me if someone tries to hurt me or my family!

Banks dont need to come up with anything here. Its Bitcoins, not Bankcoin. What the hell are you even talking about that banks need to come up "with a completely safe way" and "now that major banks are slowly dropping Bitcoin accounts"?

I agree with your theory, However I think the world is not ready for it. it is like the ".com" bubble, when many company lost and filed bankruptcy at the time, later one the ".com" market came back steady and succeeded.

Crypto-Currency is acting the same way, however the BitCoin market will struggle until some bank come up with a completely safe way to deal with BitCoin transactions.
Now that major banks are slowly dropping BitCoin accounts, it is now up to the private "BitCoin-only banks" to come up with that safe way and those people don't have the enough experience yet to deal with such huge amount of money and at any moments they may end up like MT GOX.

Point is: dealing with BitCoin is still very risky, it may have a bright future, some people are using some savings to invest in it hoping in the future it will lighten their lives, but average people are not ready to use BitCoin for daily transactions.
Which again also prove the point that BitCoin is being treated as metal BUT not cash money which the later was the main Point of BitCoin. Banks don't put metal (Gold) in your checking account but they put Cash money.

Wednesday April 10, 2013  High price $259.34
Thursday April 10, 2014 Low price $375.00

That's an annual change of +$115.66 or +44.60%

15th Thursday of 2013, High price $179.00
15th Thursday of 2014, Low price $375.00

That's an annual change of +$196.00 or +109.50%

I'm not sure I'd call that a "crash".  Perhaps just a "correction"?

Good time to accumulate BTCs.

Support levels were there at 400. It is now breached. Now it is only a matter of time before it nosedives to 300.

thanks for the great postets ))

Also the Chinese doing the same thing,

http://www.ibtimes.co.uk/bitcoin-price-crashes-chinese-exchanges-halt-deposits-1444182

People don't know, they are just dreaming like everyone else and don't follow what's going on.
Here is what happened:

http://www.theguardian.com/world/2014/apr/10/bitcoin-dumped-by-national-australia-bank-as-too-risky

A lot of Australians are selling, that's what happened.

I am not a trader. What I look at is longterm evolution of the price and all I see is that BTC was at around 100€ when I started to get involved in early 2013 and it was at about 400 when I came back a week ago. What I've learned is that I will try to gather as many BTC as possible now through lightweight mining and let them just sit there for a year or two.

I think it is safe to say that there are big big sell order on now due to a few chinese exchanged halting deposits and forcing users to withdraw by the 17th I think.

What answers will you be happy with here? Nobody knows what price it'll be even later today so guessing when it's going to hit 1000 is pure speculation based on nothing, but go look over in the speculation forum for more of that.

400$ border will pass soon!

what do u think how deep it goes to?  and when does it come back to 1000$?

what is Happening right now?