Yeah, saying "it was produced entirely by hackers" is not even a stretch, it's an outright lie.
DDoSers contributed, panic sellers contributed, exchange infrastructure failure contributed, a couple big sell-offs contributed, I could list dozens of things that contributed.
No one-to-one-causation here.
Topic: Looks like dumping is over ? so 60-80 range will hold (Read 2317 times)
Basically Bitcoin is under direct attack. It wasn't a natural correction or bubble, it was produced entirely by hackers.
No. There was a speculative bubble, and it popped. It's okay. Expect many of them.
I think after today trying to predict what happens next is about as useful has choosing heads or tails on a coin flip. One person with a huge chunk could create another panic sell off... Or, a large number of new speculators could push the price up. This is why I'm out for a bit. Buying today is just gambling unless you are spending the coins.
Back up to $95 again, I'm smelling another Bull trap in the making.
Back up to $95 again, I'm smelling another Bull trap in the making.
I would guess that the majority of people who wanted to hop on to ride the bubble never managed to get their fiat online at gox in time. The bubble burst while their accounts were being reviewed and then while their cash was in transit.
Now what we need is for institutional investors to gtfo and instead have ordinary people pick up handfulls of coins instead. One of the greatest risks for the whole bitcoin system is to have some small number of people sitting on large positions. Bitcoin needs to get rid of the big players, they will treat the system as a toy.
Now what we need is for institutional investors to gtfo and instead have ordinary people pick up handfulls of coins instead. One of the greatest risks for the whole bitcoin system is to have some small number of people sitting on large positions. Bitcoin needs to get rid of the big players, they will treat the system as a toy.
I really hope it stay at 75 for weeks, or even months, like what we did in 5 and 13. In that case, the next bull run will take us to 1000.
Exactly. If it goes even lower it could be devastating -but also going up won't do much good. We need sane growth for at least a little while.
Investor confidence is shook, this thing is going down....how fast depends on whether or not there is another exchange or protocol screw up.
For the first time in days, it looks like it's stabilized. Though, "stabilized".
After the first crash back in 2011 it "stabilized" to 20$ for days...
+1 After the first crash back in 2011 it "stabilized" to 20$ for days...
For the first time in days, it looks like it's stabilized. Though, "stabilized".
After the first crash back in 2011 it "stabilized" to 20$ for days...
After the first crash back in 2011 it "stabilized" to 20$ for days...
We may have another 2011 story without the gox hack.
I really hope it stay at 75 for weeks, or even months, like what we did in 5 and 13. In that case, the next bull run will take us to 1000.
Flaab, the only thing you show here is that via the zoom/pan functions, you can make any graph look like any other graph.
The sad part is, you probably think that by copy-pastaing someone else's failed attempt at serious analysis, you're making a coherent point.
Silly you
Quote from: BitSlut69
proudhon says it is going below $1. That is how we know this is the bottom and we're heading back up.
It appears you've learned something useful here, young grasshoppa.
By the way, guys, I hear that governments have stopped all their corruption, and stopped overspending and printing money, so demand for central bank-controlled fiat is going up, and demand for decentralized & deflationary currencies are plummeting.
My proof: Bitcoin, gold, and silver have all taken a serious hit recently. So it must be that no one wants them, the governments have cleaned up their act, and everyone's going all-in on fiat. Bull market on USD!
For the first time in days, it looks like it's stabilized. Though, "stabilized".
After the first crash back in 2011 it "stabilized" to 20$ for days...
After the first crash back in 2011 it "stabilized" to 20$ for days...
nwbitcoin, your avatar looks like Frost's. Confuses me.
The bitter truth is that we have no idea what will happen next.
Common sense says it will get back to $200 with a little nudge, but I guess it depends on how long it takes for MTGox to get back up and running, and the patience of people with money and no sense!
Common sense says it will get back to $200 with a little nudge, but I guess it depends on how long it takes for MTGox to get back up and running, and the patience of people with money and no sense!
proudhon says it is going below $1. That is how we know this is the bottom and we're heading back up. Hopefully it will be a more gradual rise this time so the exchanges can grow and handle the increased demand.
Bitcoin was stopped by it's own success.
...
we all know it's going back up to $200+ as soon as ...
...
It wasn't a natural correction or bubble, it was produced entirely by hackers
...
we all know it's going back up to $200+ as soon as ...
...
It wasn't a natural correction or bubble, it was produced entirely by hackers
No way.
There is a difference though. Bitcoins suffered a flash crash due to high frequency trading and demand which the infrastructure wasn't prepared to handle. Bitcoin was stopped by it's own success. The dotcom bubble was a true Bubble while Bitcoin is actually still a good investment at $80 because we all know it's going back up to $200+ as soon as the exchanges solve the DDOS, high frequency trading, and figure out how to scale up.
Basically Bitcoin is under direct attack. It wasn't a natural correction or bubble, it was produced entirely by hackers. For this reason I'm confident that Bitcoin will recover in weeks to months, basically as soon as a workable solution is found. This probably will take months because a new protocol will have to be designed but in the short term the prices will probably be in the hundreds of dollars by May. Meaning as soon as mtGox gets its act together the bubble and exponential growth will return.
Looks like the dumping is over ? so 60-80 range will hold ?
And price will start climb from monday.
Because many will not miss the next bubble profit
So alot new money will still be invested in Coins !
What you think
[/quote
Is about what it was prior to the bubble. That is a good sign because it means we are maybe a month or two away from $200 again. In that time we can focus on fixing the scalability issues.
And price will start climb from monday.
Because many will not miss the next bubble profit
So alot new money will still be invested in Coins !
What you think
[/quote
Is about what it was prior to the bubble. That is a good sign because it means we are maybe a month or two away from $200 again. In that time we can focus on fixing the scalability issues.
Flaab, the timeframe for those shorts are completely off, there is also zero price information. Whoever made that on reddit was just spreading FUD. You can take any random charts and throw them together to make a point, it is pretty easy.
If this range holds, it will be an uncannily exact return to the exponential trendline, as predicted by yours truly 
I hope it will hold
After if sniff the 50-55 here in the weekend.. to load more coins
Funny nick you have, lol
No way.
Jump to: