The market implodes, gox is unusable, and charting sites are all over the map

Viceroy

hero member

Activity: 924

Merit: 501

Quote from: evolve on April 10, 2013, 04:26:02 PM

The price dropped $160 (over half its value) in a couple hours....if and when this thing pops all the way, a lot of people are going to be caught with their pants down. Meanwhile the echo chamber here keeps encouraging people to leverage debt to buy bitcoins. The hype machine around here is going to make a lot of people very, very poor.

Let this last crash be a lesson to all of you buying in to get rich quick; chances are you will be left holding the bag.

I can see the man who sells buggy whips saying exactly the same thing...
There is nowhere to buy gas! (because there were no stations yet)
There are no roads! (because they hadn't been paved yet)
Look the cars are stuck in a traffic jam (because they hadn't invented signal lights)

Your horse shit is getting on my tires, move along angry old timer....

simonk83

hero member

Activity: 798

Merit: 1000

Quote from: evolve on April 10, 2013, 04:26:02 PM

The price dropped $160 (over half its value) in a couple hours....if and when this thing pops all the way, a lot of people are going to be caught with their pants down. Meanwhile the echo chamber here keeps encouraging people to leverage debt to buy bitcoins. The hype machine around here is going to make a lot of people very, very poor.

Let this last crash be a lesson to all of you buying in to get rich quick; chances are you will be left holding the bag.

We'll see.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

The price dropped $160 (over half its value) in a couple hours....if and when this thing pops all the way, a lot of people are going to be caught with their pants down. Meanwhile the echo chamber here keeps encouraging people to leverage debt to buy bitcoins. The hype machine around here is going to make a lot of people very, very poor.

Let this last crash be a lesson to all of you buying in to get rich quick; chances are you will be left holding the bag.

simonk83

hero member

Activity: 798

Merit: 1000

This is a profit opportunity and nothing else.

BitcoinAshley

sr. member

Activity: 448

Merit: 250

What humanitee said.

No reason to freak out and predict the end of cryptocurrency as we know it - because Gox lagged.

But there's a whole bunch of newbies (thanks to recent exponential increase in adoption) who don't really understand that volatility is normal and will be normal for a while. So when they see Gox lag, it's like something they've never seen before, and they think it's the end of Bitcoin.

Then a week later they're like "Oh crap... should have lurked moar..."

Notice how on the forums here, all you hear about is how horrible and slow Gox is... yet people are signing up for Gox by the droves. Folks just don't do their research. People aren't used to doing their research because in a socialist market controlled by your government, you often don't have to do as much research, or at least, there is the expectation of being able to trust services because of the mere existence of regulatory bodies. Well, people don't research Gox's performance record, blindly sign up "it's popular so must b good, rite?" and then get a spank in the butt when the lag comes and they lose their coins at some absurd price.

humanitee

hero member

Activity: 1302

Merit: 502

Nope.

Bitcoin protocol is.. FINE!

It's humans just being humans. It's funny to watch the absurd amount of manipulators coming out of the woodwork on here and Reddit with 0 day accounts yelling sell.
Still holding, Bitcoin is a paradigm shift.

Btw, you're welcome.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Is your confidence shaken yet? Or are you still clinging to the "new paradigm" hype?

Topic: The market implodes, gox is unusable, and charting sites are all over the map (Read 978 times)