Do you think that the current dump is going to destroy the image of bitcoin? - page 5.

philiveyjr

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Quote from: MatTheCat on August 02, 2016, 06:16:30 PM

Quote from: philiveyjr on August 02, 2016, 06:13:37 PM

Honestly, I always believe in the blockchain. But bitcoin as a whole already doesn't have any good reputation anyways. This will definitely destroy the price, but not the technology.

fwiw.....Bitcoin needs $500 MINIMUM in order for it being worthwhile for the miners to continue mining and maintaining the network.

Hopefully then we don't see a negative effect in the morning, when the chinese wake up. They would likely not damage the price in their own interest. The price is sort of now over 500, but still can go either way.

MatTheCat

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Quote from: philiveyjr on August 02, 2016, 06:13:37 PM

Honestly, I always believe in the blockchain. But bitcoin as a whole already doesn't have any good reputation anyways. This will definitely destroy the price, but not the technology.

fwiw.....Bitcoin needs $500 MINIMUM in order for it being worthwhile for the miners to continue mining and maintaining the network.

richardsNY

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Quote from: mtnsaa on August 02, 2016, 06:10:58 PM

Those saying there's no panic, tell that to newcomers. Bitcoin will always be a joke for serious businesses and investors, that's the bottomline. Forks, fights and nonsense only hurt the project longterm. It won't die of course but I'm saying the same thing for months, BTC was never gonna pass 1k, too many people are afraid to buy at those prices, now $700-800 is the new $1k.

Traders love this. I am not a trader myself, but I bought on the way down and so far I am quite happy with the results.

3 BTC bought at $530-$540.
2 BTC bought at $480.

Not bad at all.

philiveyjr

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Honestly, I always believe in the blockchain. But bitcoin as a whole already doesn't have any good reputation anyways. This will definitely destroy the price, but not the technology.

mtnsaa

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Those saying there's no panic, tell that to newcomers. Bitcoin will always be a joke for serious businesses and investors, that's the bottomline. Forks, fights and nonsense only hurt the project longterm. It won't die of course but I'm saying the same thing for months, BTC was never gonna pass 1k, too many people are afraid to buy at those prices, now $700-800 is the new $1k.

Hyena

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This is a healthy consolidation dump. Long term uptrend line has not been broken. Also BTC dumped massively just before its run to 1000$ in Autumn 2013. Move along.

The Sceptical Chymist

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I see no problem whatsoever. We've been through bumpy times, price-wise, for years and we'll go through bumpy times again. I see this as a buying opportunity because I believe bitcoin has a future. It'd be interesting to know why we're having this price swing, because I haven't read any earth-shattering news lately. Is there any good reason for the severe dip we've had?

quake313

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This drop has been predicted for like a month now. Bitcoin's price cannot remain stagnate, it must go up and go down in the short term for speculators to make money. What I find suspicious however, is Bitfinex claiming a hack and taking down their service during a drop, causing a further decrease in price. Smells of manipulation to me.

European Central Bank

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a dump don't matter. why it dumps matters. bitfinex screwing up once again goes to show how amateurish this stuff still is. if one good thing comes out of it, maybe people are gonna switch to exchanges run by real professionals and at least they're available now if you're in the right country.

a few people on reddit seem to be worrying about what the sec would think about this regarding approving the etf. I think it's irrelevant as long as the winklevoss's and the other applicants show they've got the right security approach.

longbob72

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That near full month stable isn't even enough to build a new image for bitcoin. Bitcoin are still as volatile and unpredictable as always. More experienced users won't become depressed just because of this drop.

proudhon

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yes, again.

lister storm

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Quote from: tiggytomb on August 02, 2016, 03:03:45 PM

I think we will be fine, it will come back as it always does.

of course it will come back, from my 3 year experience with bitcoins i can tell that the price always recover so no one should be panic selling right now

zodin

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no no no i do not think so, the image of bitcoin cannot be destroy so easily. you know from all over the world people are investing their money in bitcoin how can it be possible that a little dumpt can effect the image of bitcoin so badly. i think that is not so good to say like that. hope that the current dumpt will be for the time being and bitcoin will recover its position very soon.

1Referee

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Of course not. We have had these kind of dumps since the very beginning. And trust me, I have seen dumps far worse. Beside that, I see the current dump as a fantastic opportunity as it made me a good a profit today. I am sure more traders are thinking like this. Where others smell fear and sweath, I smell money.

unholycactus

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Quote from: YTBitcoin on August 02, 2016, 02:58:35 PM

for about a month the price of bitcoin was stable and everyone was very happy with that and people started to believe for putting all of their money in bitcoin, and it was considered that it will be the next global currency, but now a bigger dump has started, and I think that dump is dangerous for the better future of bitcoin and its continuous happening will deny bitcoin from it success.

Bitcoin is already successful and those things happen all the time.

xhomerx10

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Quote from: YTBitcoin on August 02, 2016, 02:58:35 PM

for about a month the price of bitcoin was stable and everyone was very happy with that and people started to believe for putting all of their money in bitcoin, and it was considered that it will be the next global currency, but now a bigger dump has started, and I think that dump is dangerous for the better future of bitcoin and its continuous happening will deny bitcoin from it success.

"...for about a month the price of bitcoin was stable and everyone was very happy with that and people started to believe for putting all of their money in bitcoin..."

Where did you hear this? After one month of stability your parents are going to bet the farm?! That's just silly.

fireball4

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Quote from: tiggytomb on August 02, 2016, 03:03:45 PM

I think we will be fine, it will come back as it always does.

of course all will be good, this dump is not the first and not the last one, in my opinion the price of it is going to go up in the future and make us big money no matter how much it drops now

tiggytomb

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I think we will be fine, it will come back as it always does.

YTBitcoin

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for about a month the price of bitcoin was stable and everyone was very happy with that and people started to believe for putting all of their money in bitcoin, and it was considered that it will be the next global currency, but now a bigger dump has started, and I think that dump is dangerous for the better future of bitcoin and its continuous happening will deny bitcoin from it success.

Topic: Do you think that the current dump is going to destroy the image of bitcoin? - page 5. (Read 4957 times)