Bitcoin crashes over 25% in 24 hours, under $180
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Bitcoin crashes over 25% in 24 hours, under $180
1–10 of 348 posts
Re: Bitcoin crashes over 25% in 24 hours, under $180
#2Low was 152 at Bitstamp, quite a dump https://bitcoinwisdom.com/markets/bitstamp/btcusd
Re: Bitcoin crashes over 25% in 24 hours, under $180
#3If you see the trend, it is definitely sinking...
Re: Bitcoin crashes over 25% in 24 hours, under $180
#4Huh. Does this have anything to do with the 1.25-hour mining gap that occurred on Monday?
Re: Bitcoin crashes over 25% in 24 hours, under $180
#5Not really surprising. 2014 was meant to be the year of bitcoin and it flopped as far as the general public was concerned. Bitcoin picked up some more merchants but they almost universally saw disappointing sales or dramatic drop offs(Overstock the poster child which at one point was claiming serious expectations of $15-20m in bitcoin sales ended up with a 5th of the lower end of their claim).
Mining companies are closing left, right, and centre, and bitcoin exchanges are shutting down for more profitable ventures.
I don't think Bitcoin is dead or even close to dead but I'm pretty sure we've seen its peak.
Unlike the previous bubbles this one was in full sight of the general public with constant media coverage. It's gone to $1000 had most people(in western nations) learn about it and respond almost unanimously with 'Meh'.
Re: Bitcoin crashes over 25% in 24 hours, under $180
#6[deleted]
Re: Bitcoin crashes over 25% in 24 hours, under $180
#7[deleted]
Re: Bitcoin crashes over 25% in 24 hours, under $180
#8Not really surprising. 2014 was meant to be the year of bitcoin and it flopped as far as the general public was concerned. Bitcoin picked up some more merchants but they almost universally saw disappointing sales or dramatic drop offs(Overstock the poster child which at one point was claiming serious expectations of $15-20m in bitcoin sales ended up with a 5th of the lower end of their claim). Mining companies are cl…
400 million of venture capital has flown into Bitcoin startups in 2014. This money is used to improve Bitcoin and to build new services on top. It's not over until we have seen what comes out of that.
Re: Bitcoin crashes over 25% in 24 hours, under $180
#9Huh. Does this have anything to do with the 1.25-hour mining gap that occurred on Monday?
No. It's all speculation.
Re: Bitcoin crashes over 25% in 24 hours, under $180
#10Yeah, as much as I like the concept of bitcoin (and the blockchain), I don't see adoption becoming anything more than anecdotal.
No interest rate, and you have to secure it yourself? No thanks. My "big bad bank" guarantees me at least a small interest in saving money, and if my card is stolen, I get a new one in 24 hours and all transactions are cancelled. I'm happy to pay some transaction fees ("extortion!") to get that kind of insurance.
Bitcoin is the electronic version of "let's buy a lot of gold and stash it somewhere".
EDIT: Burn karma, burn. Ah well.