Bitcoin Forum

Do you think today's sell off is being caused by GLBSE closing? Do you ever think we will get to the point where a record default won't cause a dip in price?

If we want bitcoin to be more than bitcointalk.org why does it seem that we don't act like it? Price changes happen on many announcements, some I don't think that are warranted. Also many websites still update their users only here on bitcointalk.org. I'm beginning to think that some major bitcointalk downtime would be a good thing. So that people realize bitcoin would go on without it

That's actually not a bad idea.  It would force everyone to expand their local bitcoin community.

I would go through withdrawal  :'(

I don't see a "sell off". I see a healthy reaction on a (possible) disturbance in the Bitcoin eco-system. I would be stranger if the market didn't react at all. So, no, I don't think we will get to that point.

Great idea. Maybe even just shut the website down for 8-10 hours a day.

Randomly ;)

Nah. Something new would be a nice change. :)

Indicators and figures predicted start of current downtrend for at least of month.

Weekly & daily RSI above 70 needs huge correction. Wave A from 15.4->7.6 drop requires wave C equial or lower.  Also a lot of things there.

GLBSE just triggered natural market rules to reverse this bubble back.

but if we are in a bubble now that needs a slight correction, then doesn't that mean the bubble caused by reward halving is still to come?

I wish you slight reaction for this massive correction =)

The market has already accounted for this

This is just an indicator of how vulnerable the market is to manipulation.   Someone is intentionally pushing the market down, just look at the sell walls, which keep being pushed down to force sells in front of them.

It's possible, but in that case I'd consider it a buying opportunity.  As with the Gox incident, the viability of GLBSE does not affect Bitcoin in the long term.  If Bitcoin needs a securities market, replacements will be developed.

The constant closures and hacks are annoying, but as the saying goes, whatever doesn't kill you, makes you stronger.  The weak are being weeded out, and any new exchanges will now have the benefit of hindsight in terms of business models, security measures, and legal preparedness.

We are living in 1850s California.  Life is dangerous, catastrophes occur frequently, outlaws roam the streets.  But if you stake out some land and manage to hold onto it for a few decades without panicking, you will probably come out a rich bastard.

Last few months have been a rocky road for Bitcoin.. GLBSE definitely throws another wrench in the gears. Additionally, difficulty seems to be going down for the first time in a few months.. Anybody know powerplayers in the market who're selling off?

+ 1! (Why bother to write when someone else has already said exactly what you think?)

I think its a great view of things as well, thanks for putting it like that... Well have some million dollar southern California lots in no time!