Buy gold and silver instead.
Bitcoin down 60% to $100
61–70 of 94 posts
Re: Bitcoin down 60% to $100
#62Bitcoin "down" to $100. They were $10 in January. They'll be over $50 at the end of this month. When I was mining 18 months ago, they were about a quarter. Smooth the line and bitcoins are doing exactly what you'd expect from a linear-demand-growth emerging commodity market with a fixed rate of supply. Everything is going exactly according to plan. Note well that the exact same thing (a big speculative run-up and fol…
Hope you're right for your own sake...imaginary money is at the end of the day imaginary...doesn't matter if I hold it in paper or if it's set by an algorithm.
Re: Bitcoin down 60% to $100
#63People buying at 180$/btc when the price is at 130? Nothing suspicious here, move along.
Re: Bitcoin down 60% to $100
#64Earlier quoted context omitted.
You don't think it's important to have accurate price history to sell something?
I didn't say that. But the market value of something is the price at which you can currently buy and sell it, regardless of anyone else claims.
The problem with that is, however, that you also couldn't sell at that price because it was just a cached page.
Re: Bitcoin down 60% to $100
#65Day's Range: $70.00 - $259.34 Mtgox trading engine lag: 3865.59s With gyrations like that and one hour order execution lag there isn't a regulator in the world that wouldn't halt that market. Comparing this to investing in a roulette game would be unfairly characterizing the risks in roulette.
someone made some serious dough today
and just wait for the SEC to reverse their recent no action decision when the people on the losing end start crying foul.
Re: Bitcoin down 60% to $100
#66Bitcoin "down" to $100. They were $10 in January. They'll be over $50 at the end of this month. When I was mining 18 months ago, they were about a quarter. Smooth the line and bitcoins are doing exactly what you'd expect from a linear-demand-growth emerging commodity market with a fixed rate of supply. Everything is going exactly according to plan. Note well that the exact same thing (a big speculative run-up and fol…
Unless you actually wanted to transact business using Bitcoin as a unit of account. Worth observing that the opposite swing, where BTC shoots up $50 in ten minutes or whatever, is just as harmful.
Most people who aren't risk-tolerant toward things like this are using services that instantly (or daily) convert to USD or EUR to minimize losses due to exchange rate flux.
It's really only a big deal for speculators, or people who are trying to run a btc-in-from-customers, btc-out-to-vendors business. SR is probably pretty interesting today.
Re: Bitcoin down 60% to $100
#67Not that I'd wish monetary loss on anyone, but if the first Bitcoin crash is any indication, these things tend to have a positive side-benefit of driving out most of the speculators flooding in after all the news reports that fuel these cycles, and the people actually interested in the currency itself stay behind, with an influx of new folk.
After all the noise dies down, new businesses and services get built backed by the wider audience, and the ecosystem develops further.
It's not yet clear if this is a crash similar to the previous one, but if it comes, I don't think much will change in terms of Bitcoin's future for the next few years.
Re: Bitcoin down 60% to $100
#68Re: Bitcoin down 60% to $100
#69Market is all over the place - I logged in with chrome, hit "Sell at current Bid Price" - (which was $135) - but the interface wouldn't accept a click on the "Sell Button" Thought it might be my browser, so I tried logging in with Firefox, hit "Sell at Bid Price" - Which, about 30 seconds after my first attempt with chrome was now $175. Something is going to crash spectacularly when you get a $40 swing on something l…
Same problem, can't sell... :( I also tried putting in a buy order, but it didn't go through either.
Looks like a good opportunity for an alternative exchange...