Bitcoin Forum

Ok.

So I got bashed about wanting to protect the bitcoin price. And for using a terrible font (ok.. my bad)

Fine I admit it I'm a speculator. I actually cashed out before the price fell, but I bought back in at 170 because I don't think the run is over, and it doesn't need to be.

Unlike most people here, I've got some real money in the game, not just a few hundred but I know I'm not alone and some people here do too.

Even if your in it for the philosophy of the coin. The price recovering and stabilising will bring more people to bitcoin. That's exactly what the coin needs for mainstream adoption, more people knowing about. We don't want a massive crash to cause people to lose interest.

How to save the coin
It's simple, one step beyond not selling... Pledge to buy, buy and show it publicly.

Show you're not afraid

Commit to buy an amount over the next 3 days whatever the price. And hold it!

STEPS
1. Announce on this thread a commitment to buy some coins (how much, and by when).
2. Create a new empty wallet receiving address to send the coins to, and publish it.
3. Deposit the coins tell everyone and hold! Don't sell more than 10% till the price breaks the all time high.

Setup a wallet. Publish the address, then buy coins and put them there for all to see.

Here's my pledge
I for one commit $1000
I will buy it over before the end of 3 days
Once I do I will send it to this address 1CpZj2QQLdYeG6pEdMga5YCkGopro18vyb and tell everyone it's there so they can check
I will hold at least 90% of the coins until the coin breaks the all time high of $260!

I know not everyone will do this, but the people who care and have money invested please consider putting your support behind it.

If enough people do.. The price will recover

I don't think bitcoin needs saving, it will be just fine and rise once the weaklings loss their grip and run away in tears.

As soon as the lemmings wake up to the underlying cause of the correction (a clogged money pipe), then it will fix itself without any other intervention.

The run aint over yet.

The ship is sunken. Understand this... we will recover in some month.

Just like I think it is not a good idea for the EU to support countries financially that are not competitive enough tp pay for their own expenses, I don't want people to maintain an artificially high price for BTC.

Just let the market work. This is what is happening now and it is the only healthy mechanism in the long run.

Guys I know you're right otherwise I would have sold out at a loss at 150.

But this isn't a regulated currency and people are currently scared.

We can help it. In much the same way as governments assit their economies. The community can help the coin, by showing its support.

This is a pure unregulated market and it's all about confidence.

Let's give people the confidence that the community will protect the coin. Lets work as a community, not a collection of bull's and bears debating and talking shit.

Let's work together.

I have a decent stash of coin and will be holding for the foreseeable future.

I think it's all about community. If we can't get behind it and support the coin, people will turn away and write it off as a joke.

Lets show people we are serious.

I'm not sure that bitcoin needs saving (or rather, the value of people's wallets needs saving).  If bitcoin can't stand on its own two feet and resist selling pressure then maybe it should go under.  Survival of the fittest.  Pure Libertarian values.  No public declarations for not selling required.

tldr: IF YOU BUY, IT GOES HIGHER :D

I'll help by keeping my bitcoins and not selling :-)

This is a very interesting dilema - we have a collection of people who like the idea of a free market, but don't like the risk of the free market!

You must leave the bitcoin to do what the bitcoin will do - that is why its worth anything in the first place!

Me? I haven't bought or sold anything in the last 48 hours - there is no point.  We are currently trading at the same prices we were trading at less than a week ago - its not the end of the world, its just a correction to a growth pattern which was unsustainable!

By the 20th we will be back at $200 - although before then we have the altcoin pump which normally happens after bitcoin has been stable for 48hr +

Oh - wasn't I meant to mention that? ;)

and not getting a chance to quintuple your bitcoin holdings?

dayumn you madd

Smart man. I haven't moved a muscle either. We have some newbs who are either getting slaughtered or believe they are trading geniuses because they caught the top. The latter have of course in so doing gained not only some nice trading profits but also a very expensive hubris that will easily exceed those. The worst is when people take the risk of a lifetime and cash out completely to try to maximize their trade gains. There are people that did that at $9 and never bought back in because the market never dipped to what they consider a "fair" price. Hopefully they finally learned.

I have been buying btc to spend for the last 6 months. Just a couple weeks ago I had a look at my total purchase and realizing if I would have held it for only a cpl months I would have profited over $50k, I decided to start buying and holding. This was just 2 weeks ago. I havent spent over $160 for any of the 30 coins I know own. Yesterday, In a matter of hours I watched my btc value halve, and now Im in the RED! I cant afford to sell them at this point, and I wont take a loss. I have no choice but to hold these coins long term. I contemplated cashing out at $250 and buying myself a brand new sport bike, and gear. This was just HOURS AGO! With the value of my coins today, Id be lucky to get a moped!
This is sickening, but I plan to hold what I have and see where it all goes..

hold longer and you cant even buy a second hand bicycle. lmao

I dont think itll drop below 100 and theres only one way to go from here. Its very apparent ppl are scared, and getting out. I dont blame them, but there is a strong backing already, and Im confident it will rebound. Not making predictions because noone knows, and quite frankly not going to make myself look foolish. Either way, we know what the bitcoin is capable of, and worst case scenario I lose cpl thousand. Im sure there are many worse off.

Gox has halted trading.

FINALLY someone's taking action to prevent this landslide!

THANK YOU GOX!

Everyone breathe.. Then keep calm, and carry on.

I'm getting ready to place my buy order.

Once the panic settles people will realise it's undervalued and start panic buying!!

Gox halting trading will stop the panic?  Seems to me more likely to cause people to use other exchanges and just panic more.

Direct torpedo hit!

Captain say "We're not sinking. Everything is fine."

I doubt it. Gox controls the market. I bet the other exchanges will barely budge an inch

Mtgox controls 80%+.  They are the benchmark by which most Bitcoin software programs draw the value from.

Very naive to think what's going on at Mtgox doesn't affect the rest the exchanges.

Mtgox has gotta go.  We need a decentralized exchange.

How?