Someone is trying to intentionally tank Bitcoin price

Coin_Master

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Quote from: Troll Toll on February 17, 2014, 10:00:53 AM

lol @ Coin_Master. excellent trolling. idiots across the internet should look to you for guidance in their hour of need.

What's with all the name calling? Everyone needs guidance, even you Troll Toll

Mt.Gox will close because an attacker will siphon all their bitcoins, oh wait that already happened 2 days ago.
Except I have been saying that for over 2 weeks, guess some people weren't listening. There are 2 kinds of posts on this forum, ones full of opinion, like yours, and ones full of facts, like mine

The attack was very real, over 750,000 bitcoins were taken, that's more than 350 million dollars worth. What do you think they are going to do with all those coins? Look at them?

Troll Toll

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lol @ Coin_Master. excellent trolling. idiots across the internet should look to you for guidance in their hour of need.

fonzie

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Quote from: thelema93 on February 17, 2014, 08:53:50 AM

Quote from: cryptocarroll on February 13, 2014, 08:28:44 PM

"Bad" news seems to be coming out but most of it is misinformation it seems. Bitcoin days have seem to have been destroyed for no reason. A lot of things just don't make sense.

The media is controlled by the same people who have a heavy interest in fiat currencies. Of course they will jump on any bit of news they can to try and destroy bitcoin. But bitcoin is being used by more people every day. It is here to stay.

Reptilians? Shocked

thelema93

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Quote from: cryptocarroll on February 13, 2014, 08:28:44 PM

"Bad" news seems to be coming out but most of it is misinformation it seems. Bitcoin days have seem to have been destroyed for no reason. A lot of things just don't make sense.

The media is controlled by the same people who have a heavy interest in fiat currencies. Of course they will jump on any bit of news they can to try and destroy bitcoin. But bitcoin is being used by more people every day. It is here to stay.

MatTheCat

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Quote from: DaFockBro on February 16, 2014, 09:03:22 PM

I'm predicting your £10 will be worth less than $1 by Friday.

Is the UK government about to default?

Has BitcoinSteve hacked and defrauded the Bank of England?

You don't need to preach to the already converted. I have had a bad feeling in my gut about Bitcoin for quite some time. I have made posts in this forum stating that I believed that Bitcoin may have some kind of 'death' event on it's diary long before BitcoinSteve popped up on the eve of the 'attacks n hacks' week. I was on the verge of turning bullish on the price surge from $538 to over $700, my emotions wanted to buy-in, my head told me to wait until $700 had been tested and confirmed as a support, but my intuition told me that Bitcoin was going down a whole lot more.

I don't trust neither of the shorting exchanges. The crash to $100 wasn't a dumb whale hitting wrong buttons, that was a hack imo where real Bitcoins were stolen/fraudulently bought and sold, so since I can't short Bitcoin, I am well out for now. I think people will be just as shocked by the Bitstamp price in the near future as they are by the Gox price today.

DaFockBro

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Quote from: MatTheCat on February 16, 2014, 08:54:57 PM

Quote from: DaFockBro on February 16, 2014, 08:52:03 PM

You seriously underestimate BitcoinSteve, MatTheCat.

You DaFockBro, are BitcoinSteve!

Do I win £10?

I'm predicting your £10 will be worth less than $1 by Friday.

MatTheCat

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Quote from: DaFockBro on February 16, 2014, 08:52:03 PM

You seriously underestimate BitcoinSteve, MatTheCat.

You DaFockBro, are BitcoinSteve!

Do I win £10?

DaFockBro

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Merit: 0

Quote from: MatTheCat on February 16, 2014, 02:09:07 PM

Quote from: DaFockBro on February 13, 2014, 10:06:30 PM

BitcoinSteve is behind this.

No way. BitcoinSteve probably been lurking on some obscure darknet forums and got wind that something big was in the pipelines and tried to cash in on it with a Medicine Man Joe act. If BitcoinSteve was behind or in anyway involved with these sustained and ongoing attacks on the Bitcoin system, then he would be risking a lot by coming on and bragging about it on clear net websites.....and as for trying to squeeze a few fraction of a Bitcoin from forum regulars when he is behind the pilfering of millions of USD worth......!? Auf gar keinen Fall man!

You seriously underestimate BitcoinSteve, MatTheCat.

MatTheCat

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Merit: 1000

Quote from: DaFockBro on February 13, 2014, 10:06:30 PM

BitcoinSteve is behind this.

No way. BitcoinSteve probably been lurking on some obscure darknet forums and got wind that something big was in the pipelines and tried to cash in on it with a Medicine Man Joe act. If BitcoinSteve was behind or in anyway involved with these sustained and ongoing attacks on the Bitcoin system, then he would be risking a lot by coming on and bragging about it on clear net websites.....and as for trying to squeeze a few fraction of a Bitcoin from forum regulars when he is behind the pilfering of millions of USD worth......!? Auf gar keinen Fall man!

Quote from: Coin_Master on February 13, 2014, 10:22:22 PM

So you agree with the title of this thread then, that "Someone is trying to intentionally tank Bitcoin price". I rest my case.
It is not important who, or why. Just that they are.

Funny, I had the following dream a few nights back and posted it on this forum to ~~much ridicule~~ a mixed response:

My main Bitcoin dream however, was being in a barn full of cattle, that was invaded by a load of Chinese cow-boys. They were hacking the cattle to bits, with powered saws and the like, and cutting off bull horns, and then betting against each other with lumps of prime steak. I twigged on that when one of the main cowboys was piling his steak up high, that I knew this was a trick and that I should lay out my strips of bacon low, which I did. As it turned out, I was right and my bacon was saved, except I laid it out so low that I didn't win any steak.

https://bitcointalksearch.org/topic/m.5144467

If it turns out some time in the future that these Bitcoin attacks/frauds/manipulation were largely the handiwork of Chinese criminal organisations or even sponsored by the Chinese state, do I win £10?

TrailingComet

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The time to buy is now

bananas

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Quote from: Armis on February 16, 2014, 09:19:41 AM

Quote from: dissident on February 13, 2014, 10:59:19 PM

sigh... my father says this about precious metals, that there are 'hidden hands' suppressing the price. No, it's called supply and demand. When 2% of the users hold 60% of the bitcoins something like this is always a possibility. Forget the fact that major exchanges aren't doing withdraws right now.

Yes it's being manipulated. I'll humor you and tell you what you want to hear. Everyone should just hold so it goes to $10,000 and we all live happily ever after. The end.

I want my $100 per coin price so I have a vested interest in watching it go down. Everyone should want it to go down... the lower it goes and the more of the coin gets out of these bitcoin millionaires the better the base we will establish. People who got in at $1000 for the first time... sucks to be you.. that's life... you bought during a bubble. Live with it.

hahahhaaaa

if you buy at $100 and it goes to $0.00001, how will you feel?

BTC, has true value at this stage in it's development at about $400, everything else is diversified hype, so I agree $100 would be a steal, but if it goes below $400 I will have my shopping care ready to fill it long before it reaches $100 (of course hoping it does a Uie before it gets there.

How are you calculating this bold claim?

Sheldor333

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Well bitcoin market is not backed by anything, so then only thing giving it value are people. They decided that it is worth something. Someone is trying to use that by giving out false information, lowering the price and probably earning something from it. Doubt someone would do it just for fun.

Armis

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Quote from: dissident on February 13, 2014, 10:59:19 PM

sigh... my father says this about precious metals, that there are 'hidden hands' suppressing the price. No, it's called supply and demand. When 2% of the users hold 60% of the bitcoins something like this is always a possibility. Forget the fact that major exchanges aren't doing withdraws right now.

Yes it's being manipulated. I'll humor you and tell you what you want to hear. Everyone should just hold so it goes to $10,000 and we all live happily ever after. The end.

I want my $100 per coin price so I have a vested interest in watching it go down. Everyone should want it to go down... the lower it goes and the more of the coin gets out of these bitcoin millionaires the better the base we will establish. People who got in at $1000 for the first time... sucks to be you.. that's life... you bought during a bubble. Live with it.

hahahhaaaa

if you buy at $100 and it goes to $0.00001, how will you feel?

BTC, has true value at this stage in it's development at about $400, everything else is diversified hype, so I agree $100 would be a steal, but if it goes below $400 I will have my shopping care ready to fill it long before it reaches $100 (of course hoping it does a Uie before it gets there.

Armis

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Quote from: WesandEAC on February 13, 2014, 09:07:06 PM

I think this is EXACTLY how a market should function. I am personally quite pleased in its performance. It sure beats market makers and manipulation. Pump and dumps have more credibility than a market maker. Think about it.

A free market is the only market. Our World markets exist today to mitigate natural market swings so the collective "doesn't freak out". It is completely unnatural but it sure makes you feel easier haha. This game is for the big boys my friend.

The market isn't free if your cash is in prison.

OceanWhispers

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Quote from: BADecker on February 13, 2014, 09:45:41 PM

Quote from: Coin_Master on February 13, 2014, 09:24:25 PM

The title of this thread is "Someone is trying to intentionally tank Bitcoin price".
That assertion is absolutely correct, and it has been happening for weeks. Massive DDoS attacks on most pools, most exchanges, and now an ongoing "Transaction Malleability" attack. It is clear that someone from the other side is not happy about the existence of Bitcoin.
This is not just the "nature of the Bitcoin market" as Holliday puts it.
This is not just the "nature of stock/commodity/currency speculation" as Bitcoin_is_here_to_stay puts it.
This is an attack, a multimillion dollar attack, lots of hardware, lots of skilled people, lots of hate.
Now the question is "what are we going to do about it?".

"Now the question is 'what are we going to do about it?'."

There aren't really any get rich systems in life that work for everyone. If there were, then EVERYONE would be rich, and rich would not be rich; it would be average.

Bitcoin is not for getting rich, although there are a few that will. Bitcoin is for using as a medium of trade, the thing that money was supposed to be used for, until we found out that the bankers had turned it into a get-rich Ponzi.

The things we can do about it are:
Spread the message about how Bitcoin is better than money;
Use Bitcoin rather than hoard it;
Continue to develop innovations that use the Bitcoin pattern.

We are the people who can do this, The fact that we are in this forum and posting or commenting shows that we are.

I was going to say this but now I don't have to. Quoted for truth!

I nicked your post for my sig Coin_Master

DoctorOz

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Quote from: cryptocarroll on February 13, 2014, 08:28:44 PM

"Bad" news seems to be coming out but most of it is misinformation it seems. Bitcoin days have seem to have been destroyed for no reason. A lot of things just don't make sense.

Its difficult, its an immature market that had high growth due to speculation. Now btc will find its market vale price. My prediction 150usf

vpitcher07

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That "someone" is the 12 year old script kiddies who think they're baddass by launching these TX malleability "attacks" and DDOS's... Nothing more...

hamiltino

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P2P The Planet!

sell orders can't destroy bitcoin is just lowers the price. So what.

roslinpl

legendary

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It is not going to be like that .

So dont worry.

Price will not drop to 100$
and attacks will never stops too.

There is always a war between hackers and programmers.

Coin_Master

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What's this? The "Transaction Malleability" attack stops and the price jumps 100 USD instantly. It just shows I was right!
The assertions made by the OP have been proved correct "Someone is was trying to intentionally tank Bitcoin price".

Topic: Someone is trying to intentionally tank Bitcoin price (Read 6459 times)