Topic: What's causing the bitcoin to lose value? (Read 1354 times)
Lack of intrinsic value my friend. Bitcoin has many wonderful properties and qualities of perfect money but that is not enough. In live there can be no contradictions, the proliferation of altcoins is your proof. If bitcoin has this intrinsic value so does the others. What the community need is a way to inject intrinsic value into this gem. It is solvable problem, and it require hoarders/holders to do a simple math and commit some of their coins towards such a process. That too will be the fastest way to get the general public to jump on this train asap. I have seen a great mind on this forum lay the foundation of such a pillar, he just doesn't know it yet. There are only two ways for men to deal, by the barrel of a gun or by reason. Fiat money has the former, Bitcoin needs the latter. Lets add intrinsic value gentlemen, indestructible intrinsic value.
waiting for it to drop to $1 and buy loads.
Good luck, I think it will not even go below $30.
waiting for it to drop to $1 and buy loads.
avalons and butterflylabs ASIC-miners
Peak oil ofc #nwo
if you half the cost to make something you half its value 
I think this are the main reasons.
1. Government Regulations
2. Asics
3. Litecoin intering mtgox more are selling bitcoins to buy litecoin.
4. Panic noobs
Once asics become widespread and the difficulty became even more harder and the litecoin mania stops. Bitcoin price will rise again.
1. Government Regulations
2. Asics
3. Litecoin intering mtgox more are selling bitcoins to buy litecoin.
4. Panic noobs
Once asics become widespread and the difficulty became even more harder and the litecoin mania stops. Bitcoin price will rise again.
The OP's question still hasent really been answered. Bitcoin has bounced around before but what exactly triggered it this time? Seems like a very fast drop that wasent in direct response to any new regulation that I'm aware of. Can anyone enlighten me further? My knowledge of how markets work is pretty poor
Cheers
Cheers
first, bitcoin is a currency that doesn't represent a country and it doesn't have the same support. second, lives don't depend on it.
yes, bitcoin isn't government money so it is useless.
To deny that ASICs aren't causing the destabilization as people start to cash out on them whether or not they started with another currency is silly. ASICs at this point only pay off in the very short term or the relatively long term. The middle is chaos in transition, both owing to these hardware changes and owing to legal and regulatory issues. To add to that, you can't buy much with BTC as it goes right now, especially in terms of things that one actually needs. The only logical conclusion right now if you bought ASICs is to cash them out to a more readily usable currency unless you are just that dedicated to the idea of BTC.
first, bitcoin is a currency that doesn't represent a country and it doesn't have the same support. second, lives don't depend on it.
It goes down and it is life
and then it goes up again
It goes down and it is life
And if this is true, then by abandoning bitcoin the speculators have created the very volatility that they were looking for, which will bring many of them back, drive the price back up and reach a stability point again.
That seems to be one of the ingenious mechanisms that will keep Bitcoin going: a built-in greed escapement.
Simple ...
First asic make many coins ...
Owners of the first asic sell them very very expensive and the buyers sell btc like crazy to compensate
First asic make many coins ...
Owners of the first asic sell them very very expensive and the buyers sell btc like crazy to compensate
Its as simple as this. For 2 months straight there hasn't been enough volatility for bitcoin speculators to make any money. So now they have decided their money can be better used invested in something else. I know this because I'm one of them 
And if this is true, then by abandoning bitcoin the speculators have created the very volatility that they were looking for, which will bring many of them back, drive the price back up and reach a stability point again.
Then the cycle will start all over again.
During each cycle, the "buy and hold long term" individuals will acquire more and more of the speculators resources and they jump in and out of the market, so that eventually the speculators won't have enough resources left to move the market in any significant fashion. Then the price will reach a period of long term stability.
Maybe. Then again, that's all guesswork. It's nearly impossible to know with any level of certainty right now what the bitcoin marketplace will look like in 5 to 10 years.
Its as simple as this. For 2 months straight there hasn't been enough volatility for bitcoin speculators to make any money. So now they have decided their money can be better used invested in something else. I know this because I'm one of them
Snowden is the main reason. 
Whales dumpin' on us 
bad new, regulation, more bad news, winklevii
What bad news are you referring to? Based on what I read on the Winklevii's plans, I'm not sure it's entirely bad for Bitcoin..and why would it be? If I had vested $11m into Bitcoin, I'd surely like that value to go up over time
It's just a speculative bubble deflating. No more, no less.
Probably true. Though it could also be people cashing out (en masse) after mining with their new ASICs..whether from BFL, Avalon, or ASICMiner. For people who paid for the equipment in fiat, I can see why cashing out as quickly as possible would be beneficial.
And as we've all seen before, once the price drops a little, noobs start to panic and dump their coins as well.
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