Topic: What is wrong with BTC today? - page 2. (Read 4702 times)

Let's hope the US Government doesn't find the switch that shuts the bitcoin network down..

Oil prices between 2003 and July 2008 rose steadily, reaching $100 per barrel in late 2007 and culminating in an all-time high of $147 on 11 July 2008. By September 2008 though, prices fell to $110 and then collapsed to below $35 in February 2009, i.e. more than four times within half a year...

Would you not trust nature made oil either?

If you can't accept risk, don't play with bitcoins. Simple as that. Everyone wants to ignore the risk when the price is rocketing, human nature.

It is big loss to people who bought bitcoin at $1000 per coin. They are loss nearly 30%. Hope it doesn't go again back to $100 or $200. It will be complely loss to bitcoin, if it goes down.

People will be in massive losses, if it goes to $100 or $200. Especially people who mine the coins, because they buy hardware, chips at pretty high cost.

So they will be in huge losses.

Hey,
Haha, at that price I would say more in the 100's range. Im talking about in the thousands range about maybe 10 or so.

so if it goes up from $596,755 to 596,749 in one day you're still not see it as safe?

Just some selling by speculators who bought for a quick flip that didn't happen

Good in the long run that they are checking out

Hint: Never trust some random currency that some random guy made, to be a main money source until it is stable, and is proven. Until BTC sits at the same price with a fluctuation of 5$, I will not put any money into it or use it as a currency. Let's mine now so that we can use it for our future!

Hint: Its not worth what it is cracked up to be.

It is extremely volatile man, I mean it went up to a grand in a week or so so expect big drops also., best course of action is to invest in it then forget about it. If it is really all it is cracked up to be it will be worth a lot in 10 years or so.

Wow,
Do you guys expect that it will climb back up again within a few days? I'm a bit scared with my precious BTC in that wallet. Let's all pray that the US government doesn't shut down BTC, if they do, we're f*cked... But hey, at least they can trade them. They should all probably send them to their american friends to deposit the money and send it back. If I lived in china and had thousands of BTC I would probably do that...

take a look of the news posted by me.

Anonmint tried to spin the china news hard (the news on december 5th). I voted on his pole with a "china banned bitcoin". Now we have clarification, China obviously does not want bitcoin to be used. Its so obvious, they are protecting their money monopoly.

China Bans Payment Firms from Working With Bitcoin Exchanges


http://forexmagnates.com/china-bans-payment-firms-from-working-with-bitcoin-exchanges/

Hey,
I have this BTC ticker on my google chrome browser, and I was surprised and in shock with today's massive drop. It went from around 900$ (yesterday) to 650$ now as I write this. I don't have very much money in my BTC wallet, only about 100$, but this is quite a big drop in price. I really don't want to do the math, so I would say that is around a 30% drop! Thats quite a bit if you have lots of bitcoins. For some people bitcoins are their bank, so imagine if you had 1 million in your bank account, and the dollar just dropped randomly to 70 cents. Thats a loss of 300,000 which is quite a lot. Of course this would probably never happen with the dollar (at least not soon) but with BTC, yes it is quite volatile. I think that for BTC to work as a curreny, it needs to be stable. The reason some people aren't buying this and using this for paying things is because it's instable. Its almost like gambling money with every purchase. Imagine if you bought a ps4 with BTC, when they were 200$. So thats 2 bitcoins. If you waited a few weeks, you could have bought 5 PS4s for the same cost, when they get to a thousand dollars. Also, if someone sells you something, and then bitcoin completely crashes to a dollar, you pretty much got that item stolen from you. You made absolutely no profit off of it. Again, for BTC to be successful for business and civilians, unlike us, it needs to be stable. Buisinesses can't risk losing money beacuse of a BTC crash.
Thats my opinion on these drops.
May the BTC be with you!