discuss The bitcoin thread

[JudgeMind]

Updated: The Bitcoin crash is over...Here comes 2014!!


The rise and fall of the bitcoin.... The price of bitcoin is plummeting as i write this.

 

[sofiapartner]

Are u surprised. That was such a big scheme to take fish money.

 

[Theo Goodman]

this has happened so many times , look at any historical chart.

 

[Traveler]

Bitcoin has crashed many times, in January of this year it was $12 or $13, right now it is around $800 - $900. Even with this crash it won't go back to those prices, nothing even close. I don't own any bitcoin, but have been watching it.

It is really only a set back for people that bought in the last week. All the crypto currencies at this point are experiencing tulip mania. I think they are just going to keep going up. Maybe at some point there will be some flaw that gets exploited and bring them all to zero. But it is tulip mania on a global scale. Lots of people are going to make silly amounts of money and lots of people are going to lose just as much.

 

[Theo Goodman]

guess what, "the bitcoin crash" is over.

 

[mhdoc]

I got out at $194. A friend held out for $305. We both will be tempted to play again if if goes under $100. Bitcoin is one of those "investments" on which you use your "roll the dice money", not the rent or house payment

 

[Traveler]

guess what, "the bitcoin crash" is over.

I would not call this a crash, more like a correction, but it does not look like it is over. I've been watching it for the last few hours. I wish I had some money in on the game. A cool head could have made a lot of money. Knowing me though, I would have lost my shirt :hehe:

It will be interesting to see what happens on Monday.

EDIT: Even MT.Gox is at $880 now
Btc-e is at $681

This correction, or crash is not close to over.

 

[JudgeMind]

Sheep marketplace selling their stolen coins http://bitshare.cm/post/68692642958/bitcoin-gets-hit-today-with-a-big-market-drop-below

---------- Post added at 12:14 PM ---------- Previous post was at 12:13 PM ----------

this has happened so many times , look at any historical chart.

I do agree and each time have seen Bitcoin regain strength, i do believe Bitcoin will continue to grow.

 

[Theo Goodman]

yea it could be the sheep thing + blackfriday & btw bitcointalk.org is "down" again. Maybe it was hacked. The last time bitcointalk was down was when SR got taken down, there was a panic. Yea I guess we will have to wait and see if the dropping stops in one or two hours to really say that "the" bitcoin "crash" is over.
-Theo

 

[sofiapartner]

I do agree and each time have seen Bitcoin regain strength, i do believe Bitcoin will continue to grow.

What makes you think that? Some fundament? What is behind bitcoins? That is the question. I dont have answer for that - that is why I am staying away from them.

 

[mhdoc]

Coinbase.com has them at $925 to buy.

"Crash" gets overused. In the great depression stocks went down by 90%. Dropping from $1,200 to $900 is "only" 25%

 

[forge]

The OP made this announcement to plug his own website.

 

[JudgeMind]

Coinbase.com has them at $925 to buy.

"Crash" gets overused. In the great depression stocks went down by 90%. Dropping from $1,200 to $900 is "only" 25%

sorry at the time i wrote this thread the drop hadnt even went below $900 yet and was still falling

 

[RazorNF]

It's all relative - everyone got in at different price points.

The key like any form of investing is not to be greedy, and learn to take some profits when they appear.

Whether there's good news or bad, it's getting mentioned in mainstream media more frequently - and as that continues to happen, the interest in it will only grow.

 

[Compassion]

the next few weeks may be quite volatile, we may have seen a peak that won't be matched for awhile

 

[Rado_Ch]

Nothing unusual here - it was ludicrous for a virtual currency with no financial back to rise to the price of gold. If you follow the market a little and know about the most famous "bubble" plummets in history, you would have seen absolutely the same pattern with BitCoins. Sure, now it started to rise again but that's no surprise either - just the natural way the market moves. Now it should rise a little more, but not to its previous levels.

 

[Theo Goodman]

yes, a typical S-Curve
https://www.youtube.com/watch?v=qHUPPYzzZrI

 

[urlurl]

looks like a pump and dump scenario,

 

[GravityEleven]

been following the bitcoin craze for a while already, but it's simply too volatile at this moment to put any money into it.. might be i have missed the cheap window from the past but if it really stabillizes around 1000 usd for a while then i see it as an important hint that it can really go even higher in the future.. then i couldn't care less whether i join at 1000 usd and sell at 4-5k in the future, or join at 10 usd and cash out at 1000 usd..
doing it the first way i will cash in even more..

 

[johname]

Wow what do you call a real crash lol

 

[urlurl]

im not sure how safe this currency is - now that the value has surpassed 1,000 it opens it up to a new way to get btc... steal them!

just read a brief article about the sheep market place and $44 million worth of btc gone

 

[Weber]

I can't believe pro stock traders would touch this,
It doesn't have the fed-ease bubble-rally guarantee.

 

[Theo Goodman]

"im not sure how safe this currency is"

That whole story has nothing to do with bitcoin -itself- . Things like that happen daily with "normal" fiat money and nobody blinks. The safety you are talking about has to do with using your brain. It is true that with bitcoin since there is no central authority you have to use your brain a little more when storing and securing your coins.

 

[Rado_Ch]

I can't believe pro stock traders would touch this,
It doesn't have the fed-ease bubble-rally guarantee.

Why shouldn't they? They don't need the bubble guarantee simply because its all a matter of entering and exiting the market at the right time. Pro brokers can read the chart and a broader look on how it was going in the last couple of months can help predict when the "big drop" is expected

 

[Compassion]

Richard Branson loves Bitcoin...

http://www.latimes.com/business/mon...itcoin-20131125,0,3879223.story#axzz2mR7r1KhN

http://www.cnbc.com/id/101220710