the rise and fall of... | Bitcointalksearch.org

GenTarkin

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Quote from: minerpumpkin on April 25, 2015, 04:51:11 PM

Nah, I don't think so... I think a ton of people came around November 2013, when the last bubble to over $1000 happened! And those people lost a ton of money, and many have lost their faith. That faith is going to return to some if when Bitcoin continues to go up again. But it may be still quite some way until that happens, unfortunately.

I really wish people would stop basing their faith in BTC solely on its price. Guess "faith in bitcoin" to me means, can I trust it when I go to use it? Also, people having faith in it need to spread the word. Not just sit back n speculate or get out cuz the price went down a bit...
We keep going the way of the latter, bitcoin's price wont go up much ever.

RodeoX

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Quote from: JackRipper on April 25, 2015, 08:54:22 AM

Quote from: sdmathis on April 25, 2015, 08:49:49 AM

Quote from: RodeoX on April 24, 2015, 12:55:01 PM

The article was written by people who want you to look at the adds, not by scholars trying to educate you.

As a writer who writes for this market, I can tell you with certainy that the writers of this, and similar articles, don't really care if you look at the ads or not. The publisher cares, but the writer never even considers it.

I agree. It was simply an article (like many) written using incomplete information.

This was not a good example of what I meant. Wired has real tech writers and an established audience. But you have likely seen some of the silly ones with a shocking title.

minerpumpkin

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Quote from: imamanandyou on April 25, 2015, 03:56:37 PM

Quote from: moko666 on April 25, 2015, 11:25:34 AM

price fallen when a major bitcoin exchange MTGox gone and stolen people's bitcoin
then investors lost the faith in bitcoin,now bitcoin have to build the faith again to rise

I dont feel like people have lost faith in bitcoin. A lot of people now are coming into bitcoin and hardly know of mount gox. I think there just needs to be more uses, I dont think mount gox hadthat much to do with the current users.

Nah, I don't think so... I think a ton of people came around November 2013, when the last bubble to over $1000 happened! And those people lost a ton of money, and many have lost their faith. That faith is going to return to some if when Bitcoin continues to go up again. But it may be still quite some way until that happens, unfortunately.

imamanandyou

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Quote from: The Sceptical Chymist on April 25, 2015, 04:27:30 PM

Quote from: MicroGuy on April 24, 2015, 10:07:29 PM

I think there's a very real chance that Bitcoin won't see $500 again in my lifetime (I'm old).

Sorry for the bearish attitude, but it seems like we've somehow reached a stalling point. Not sure how, but we need some momentum to get things turned around.

I would say that the price of bitcoin hasn't stalled at all. From the peak in 2013 when it was at and above $1000, we're in a straight downward trend.

And also, I would add, the price is whatever it is. You can say bitcoin is under- or over-valued, but that's pure speculation. Bitcoin can't be analyzed like a stock or a bond since it has no earnings, cash flow, etc. And I surely would take any analysis by idiots on this board with a huge grain of salt. No offense.

Agreed. People often think they can analyze bitcoin and make predictions like stocks. But often this is unvalidated, and the truth is bitcoin is far more random and more manipulated than many people would like to think

The Sceptical Chymist

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Quote from: MicroGuy on April 24, 2015, 10:07:29 PM

I think there's a very real chance that Bitcoin won't see $500 again in my lifetime (I'm old).

Sorry for the bearish attitude, but it seems like we've somehow reached a stalling point. Not sure how, but we need some momentum to get things turned around.

I would say that the price of bitcoin hasn't stalled at all. From the peak in 2013 when it was at and above $1000, we're in a straight downward trend.

And also, I would add, the price is whatever it is. You can say bitcoin is under- or over-valued, but that's pure speculation. Bitcoin can't be analyzed like a stock or a bond since it has no earnings, cash flow, etc. And I surely would take any analysis by idiots on this board with a huge grain of salt. No offense.

imamanandyou

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Quote from: moko666 on April 25, 2015, 11:25:34 AM

price fallen when a major bitcoin exchange MTGox gone and stolen people's bitcoin
then investors lost the faith in bitcoin,now bitcoin have to build the faith again to rise

I dont feel like people have lost faith in bitcoin. A lot of people now are coming into bitcoin and hardly know of mount gox. I think there just needs to be more uses, I dont think mount gox hadthat much to do with the current users.

minerpumpkin

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Quote from: Amph on April 24, 2015, 01:24:42 PM

Quote from: Purple Wayne on April 24, 2015, 12:43:47 PM

I don't think anybody knows what caused the crash. Bitcoin's value seems to have a mind of its own most of the time but I think there were several theories on what caused the crash. The biggest one was the mt gox fiasco.

it's obvious that the crash was caused by willy bot, after he pumped the price to the sky, he wanted to make profit of it, he did it, by sucking who joined the wave of his pump

It's quite a convincing theory that people at Mt. Gox used Willy to buy a lot of coins (thus also driving up the price) and then selling those coins to people at an insane markup. That way (if done 'right') they could have made money to pay their bills. If they crashed the price afterwards, they could try and buy back a lot of coins, so people won't come looking for them. This theory would involve a high level of malevolence, though...

AGD

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One thing that indicates a strong connection between MtGox and Silkroad / Ross Ulbricht is the fact, that in Ross' journal he is stating that 2 Mio USD were "stolen" at MtGox:

Quote

29/05/2013 - $2M was stolen from my mtgox account by DEA.

Now we know, that at the same time this happened:
http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/

Quote

DHS officials refused to comment on the ongoing investigation, but they did provide a copy of the warrant that was used yesterday to seize funds that Mt. Gox had in Dwolla, a money transfer service. Dwolla is a Des Moines, Iowa company that provides one of the most popular ways to move US dollars to Mt. Gox, where they can be used to buy bitcoins.

So, why Ross writes about 2 Mio of his money beiing stolen at MtGox at the same day when Marc Karpeles account was seized?

tescomatty

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Quote from: bitbets on April 25, 2015, 12:02:26 PM

Quote from: AGD on April 25, 2015, 12:38:34 AM

Wasn't it "Willy the bot" at MtGox that drove the price that high?

I read this 'rumor' too, about the 'willy the bot' thing.

But I remember watching the chinese buying bitcoins.

The chinese influx drove bitcoin up, I think

I watched the action at bitcoinity.org in late 2013

Never underestimate the power of the chinese. Seriously a billion people suddenly being introduced to something has a big effect.

uininPeter

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Im new here, how big was mt gox? How many bitcoins did they hold? Were they really enough to break the momentum that brought bitcoin to 1.2k?

bitbets

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Quote from: AGD on April 25, 2015, 12:38:34 AM

Wasn't it "Willy the bot" at MtGox that drove the price that high?

I read this 'rumor' too, about the 'willy the bot' thing.

But I remember watching the chinese buying bitcoins.

The chinese influx drove bitcoin up, I think

I watched the action at bitcoinity.org in late 2013

moko666

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price fallen when a major bitcoin exchange MTGox gone and stolen people's bitcoin
then investors lost the faith in bitcoin,now bitcoin have to build the faith again to rise

JackRipper

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Quote from: sdmathis on April 25, 2015, 08:49:49 AM

Quote from: RodeoX on April 24, 2015, 12:55:01 PM

The article was written by people who want you to look at the adds, not by scholars trying to educate you.

As a writer who writes for this market, I can tell you with certainy that the writers of this, and similar articles, don't really care if you look at the ads or not. The publisher cares, but the writer never even considers it.

I agree. It was simply an article (like many) written using incomplete information.

sikaxchange

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nobody knows the rise of bitcoin and it's fall bitcoin has it's own market trend so this actually varies

sdmathis

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Quote from: RodeoX on April 24, 2015, 12:55:01 PM

The article was written by people who want you to look at the adds, not by scholars trying to educate you.

As a writer who writes for this market, I can tell you with certainy that the writers of this, and similar articles, don't really care if you look at the ads or not. The publisher cares, but the writer never even considers it.

bornil267645

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Well the price spike and fall was long after the silk road, and I don't see any reason why it should affect the market a the time. But there were other cards on the deck such as,

> BTC and China

> Mt Gox incident

So, it should not coincide with silk road.

Scamalert

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Quote from: mistersheep on April 24, 2015, 12:21:36 PM

Wow, great article in Wired!

OK, I am trying to verify - please tell me - true or false?

"The high point in the https://www.coinbase.com/charts bitcoin price graph ($1145) around Dec. 1st 2013, and subsequent decline since, coincides with the rise and fall of Silk Road...?

Obviously the peak of ~1200 USD was because of the Chineese people started to buy bitcoin as an alternative to Yuan. When the chineese goverment restricted bitcoin, people started to sell and we got pretty much back to where we were before china ~200 USD (Jan 2013). We will be at ~200 USD (+/-100 USD) as long as nothing new happen in bitcoin. I find 100 USD very realistic, but I find 10 USD very UNREALISTIC.

But don't worry about it. Think of bitcoin in a different way: What value does it bring to YOU. If you define value of making money change in exhange rate, then could you might as will buy commodities, iron, coal, corn or gold, all good alternative to bitcoin. But if you define value of something usefull, then does bitcoin have a lot to offer.

Sugarape

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Quote from: Sakarias-Corporation on April 24, 2015, 03:23:00 PM

Quote from: GTO911 on April 24, 2015, 03:08:39 PM

It was just a bubble, its at real value now

Not Even close. we're so far away from its ''real'' value now.

How can you even know this and how would you know what bitcoin's 'real' value is?

LiteCoinGuy

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Quote from: MicroGuy on April 24, 2015, 10:07:29 PM

I think there's a very real chance that Bitcoin won't see $500 again in my lifetime (I'm old).

Sorry for the bearish attitude, but it seems like we've somehow reached a stalling point. Not sure how, but we need some momentum to get things turned around.

when you have at least 3-5 years left, you will see 500 USD for sure Wink

Amph

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Quote from: AGD on April 25, 2015, 12:38:34 AM

Wasn't it "Willy the bot" at MtGox that drove the price that high?

yeah it was him 100%, there is a report with all the details explaining everything, and it does make sense, but this new theory about the connection with silk road, sound a bit random, it could be... but i'm skeptical..

Topic: the rise and fall of... (Read 2308 times)