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Title: My thoughts on the price, and why it is going down Post by: Bjork on May 03, 2013, 04:59:21 PM Here is some thoughts about why the price is sliding down, and why it will continue to.
1. Silk road has been having major problems. This is cutting the demand for BTC dramatically. In-case anyone is unaware a huge DDOS has been occurring for weeks now. 2. Bitinstant has been having problems and, the problems with silk road are further dropping the amount of people using bitinstant. Bitinstant was a huge "push" up for the price, as all of those people were placing market orders. 3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets. Perhaps people are worried about this. Without SR and Bitinstant, bitcoins are not worth anywhere near $150+ Title: Re: My thoughts on the price, and why it is going down Post by: UltimateReaper on May 03, 2013, 05:01:29 PM Here is some thoughts about why the price is sliding down, and why it will continue to. 1. Silk road has been having major problems. This is cutting the demand for BTC dramatically. 2. Bitinstant has been having problems and, the problems with silk road are further dropping the amount of people using bitinstant. Bitinstant was a huge "push" up for the price, as all of those people were placing market orders. 3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets. Perhaps people are worried about this. Without SR and Bitinstant, bitcoins are not worth anywhere near $150+ Negative sentiment could be doing it, manipulation could be doing it, fear could be doing it, dumping could be doing, bad news could be doing it, heck, you know what? maybe its a combination of everything. This stuff is impossible to calculate, but if you have an idea of where things are going, profit off it. I can see Bitinstant as being important, but does SR really mean much? Title: Re: My thoughts on the price, and why it is going down Post by: jojo69 on May 03, 2013, 05:03:11 PM coinlab suing gox for 75M ?
Title: Re: My thoughts on the price, and why it is going down Post by: Bjork on May 03, 2013, 05:03:39 PM Here is some thoughts about why the price is sliding down, and why it will continue to. 1. Silk road has been having major problems. This is cutting the demand for BTC dramatically. 2. Bitinstant has been having problems and, the problems with silk road are further dropping the amount of people using bitinstant. Bitinstant was a huge "push" up for the price, as all of those people were placing market orders. 3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets. Perhaps people are worried about this. Without SR and Bitinstant, bitcoins are not worth anywhere near $150+ Negative sentiment could be doing it, manipulation could be doing it, fear could be doing it, dumping could be doing, bad news could be doing it, heck, you know what? maybe its a combination of everything. This stuff is impossible to calculate, but if you have an idea of where things are going, profit off it. I can see Bitinstant as being important, but does SR really mean much? IMO, SR is responsible for probably half... if not more of bitinstant's business. Personally I know 4-5 people who have used bitinstant, and every single time the coins have gone to SR Title: Re: My thoughts on the price, and why it is going down Post by: N12 on May 03, 2013, 05:08:31 PM Price is going down because a price bubble has formed and burst, and we are now in the process of deflating it.
Title: Re: My thoughts on the price, and why it is going down Post by: lucif on May 03, 2013, 05:08:57 PM 4. Coinlab sue mtgox
5. Its simply bubble and bubbles burst Title: Re: My thoughts on the price, and why it is going down Post by: adamstgBit on May 03, 2013, 05:10:11 PM link for #3 please
Title: Re: My thoughts on the price, and why it is going down Post by: stereotype on May 03, 2013, 05:13:19 PM link for #3 please http://qz.com/81167/bitcoin-75-million-coinlab-lawsuit-against-mt-gox-could-destroy-currency-exchange/ Title: Re: My thoughts on the price, and why it is going down Post by: adamstgBit on May 03, 2013, 05:15:17 PM 3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets. Perhaps people are worried about this.
link plz Title: Re: My thoughts on the price, and why it is going down Post by: pheaonix on May 03, 2013, 05:15:42 PM 1. sr accounts for 1% of trade. is easy to see, just watch mixers.
2. news to me 3. wat Title: Re: My thoughts on the price, and why it is going down Post by: Bjork on May 03, 2013, 05:17:09 PM link for #3 please http://bitcoin.org/may15.html I don't think the impact is very much tbh Title: Re: My thoughts on the price, and why it is going down Post by: Brushan on May 03, 2013, 05:20:10 PM link for #3 please http://qz.com/81167/bitcoin-75-million-coinlab-lawsuit-against-mt-gox-could-destroy-currency-exchange/ From the letter of Peter Vessenes it looks like he is suing MtGox because of the lag? Or did i misunderstand it? Title: Re: My thoughts on the price, and why it is going down Post by: adamstgBit on May 03, 2013, 05:21:54 PM link for #3 please http://bitcoin.org/may15.html I don't think the impact is very much tbh fuck this i'm outta here Title: Re: My thoughts on the price, and why it is going down Post by: Babylon on May 03, 2013, 05:22:01 PM There's also an alternative to Silk Road, called Atlantis, that has been up consistently and has just as good a selection of products.
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