Don't worry! It won't ever fall below its intrinsic value!
Bitcoin falls from $266
21–30 of 505 posts
Re: Bitcoin falls from $266
#22Before crying wolf, understand that bitcoin exchanges are unfortunately not battle hardened internet businesses. Two of the largest exchanges MtGox and bitstamp are both under DDOS. This may be an attempt by someone to make a large buy at a cheaper price. Due to lack of trading, prices are going downward. However, BTC China is still trading at above $275! That's the beauty of bitcoin, it isn't restricted to just one…
Is it possible to buy from MtGox at $200 and sell in BTC China shortly thereafter at $275?
I know nothing about BTC.
Re: Bitcoin falls from $266
#23Don't worry! It won't ever fall below its intrinsic value!
Part of me is pulling for Bitcoin, but dang was that funny.
Re: Bitcoin falls from $266
#24See, it's times like this people should remember that bitcoin is not yet a currency and is rather a toy for things like http://bitcoinpyramid.com/r/91 and http://satoshidice.com , or for speculators.
Oh weird, you accidentally left your referral ID attached to the URL for the pyramid site.
Re: Bitcoin falls from $266
#25I'm interested in the price of Bitcoin, but we don't need these daily submissions. If you're interested in following the price, I suggest these links: - https://bitcoinity.org/markets - http://bitcoincharts.com/charts/mtgoxUSD - http://bitcoin.clarkmoody.com/ If you're interested in talking about the price, try #bitcoin-pricetalk on Freenode.
I appreciate the daily submissions because I am only slightly curious about the price of bitcoin as long as it's interesting and newsworthy (i.e. rising or falling significantly). If the price of bitcoin stabilized it would cease to be newsworthy and I'm sure the daily submissions would stop. I suspect many people feel the way I do, which is why these submissions get upvoted.
Re: Bitcoin falls from $266
#26Earlier quoted context omitted.
[deleted]
Just curious, but where are you getting this graph from?
Re: Bitcoin falls from $266
#27Before crying wolf, understand that bitcoin exchanges are unfortunately not battle hardened internet businesses. Two of the largest exchanges MtGox and bitstamp are both under DDOS. This may be an attempt by someone to make a large buy at a cheaper price. Due to lack of trading, prices are going downward. However, BTC China is still trading at above $275! That's the beauty of bitcoin, it isn't restricted to just one…
Is it possible to buy from MtGox at $200 and sell in BTC China shortly thereafter at $275? I know nothing about BTC.
If you do have a verified account at both, yes, it should be fairly simple. As of now though it's unlikely that your trades will go through.
Also, the price has started falling on BTC China as well.
Re: Bitcoin falls from $266
#28Wasn't Bitcoin at $100 just a couple of days ago? I feel like I'm watching a penny stock; and, while I would have enjoyed something like a 10x stock value worth if I'd gotten in when I thought to, this variability is scary
There was a lot of BitCoin related press coverage. This is probably related.
Volatility is high which will harm the adoption of BitCoin by vendors, which will in turn drive the price down when people realize they can't do anything with their BitCoins, etc.
Re: Bitcoin falls from $266
#29Before crying wolf, understand that bitcoin exchanges are unfortunately not battle hardened internet businesses. Two of the largest exchanges MtGox and bitstamp are both under DDOS. This may be an attempt by someone to make a large buy at a cheaper price. Due to lack of trading, prices are going downward. However, BTC China is still trading at above $275! That's the beauty of bitcoin, it isn't restricted to just one…
Is it possible to buy from MtGox at $200 and sell in BTC China shortly thereafter at $275? I know nothing about BTC.
Once the transaction is processed and you have your BTC, then yes. I don't know how fast MtGox releases BTC from the wallets they control though (or similarly, how long it takes BTC China to give you access via their controlled wallets).
Re: Bitcoin falls from $266
#30See, it's times like this people should remember that bitcoin is not yet a currency and is rather a toy for things like http://bitcoinpyramid.com/r/91 and http://satoshidice.com , or for speculators.
It is sorta a currency; you can buy things in selected outlets. But sure, right now the large movements of bitcoins seem to be speculators who treat it as an investment for capital appreciation rather than a currency, and that's not sustainable until it has some objective worth outside of itself.