Bitcoin Forum

Just wanted to say thank you to all of you out there who are running for the hills because you are so easily terrified by negative articles you are seeing in the news, about BTC being a failed endeavour.

Those of you who are mass-unloading all your coinage because you are so easily manipulated by public opinion.

Its because of you that the rest of us are getting BTC at a huge discount right now.  So thanks!   ;D

Please keep selling for awhile.  I was hoping to see it hit $50 before it rebounds back to $100 and eventually hits $1,000 or more.

-B-

lol funny thread I laughed

I was hoping it hit 50 but seems it didnt thats bad. Once it reaches 120 I ll sell and wait to reach 60-70 again. These guys are wonderful for letting me get 100% profits in a couple of weeks.

Love you.

People ask why the price of Bitcoin is dropping... and it's because people are selling at low prices! Not a smart move.

Haven't you all heard the phrase "Buy low, sell high" before?

Yes I agree thank you

This thread is also an expression of my frustration at human nature.  People seem to be mindless sheep, following the herd.  

Someone please move this drivel to speculation..

YES, dropping it should just keep on dropping  ;D

i really don't think most of the folks involved in bitcoin are sheep....

they are probably smarter than the OP.

Oddly, people aren't so scared of the price drop as to turn off their mining equipment. Dang it people! Bitcoin is a failure! turn off your mining rigs!!! Save endangered electrons! >:(

Normally I would agree with you, except that the price just dropped from $100 to $68 practically overnight.
Therefore we have proof that even some bitcoin people are easily influenced by public opinion.

"We" who?
True coiners don't give a rat's ass about "regulatory agencies". That's the whole point of cryptocoins.
Who wants to deal with "agencies" are fine enough with fiat.

So thats what troll smells like . . .

Ira H Fuchs: Co Founder of Bitnet.

http://en.wikipedia.org/wiki/Ira_Fuchs

-B-

I did my part to aid in the descent.  People do not want to bet a high value BTC.

Thanks for all the free money to come I believe in the FV hehe  ;)

It's to supplement speculation with actual use of Bitcoin as a means of payment. That is what will ultimately drive value (and price). Pure speculation by the majority of 'users' will always result in price decline.

You don't have to deal with regulatory agencies if you don't want to. Buy cryptos P2P, or buy from an exchange now and never withdraw into fiat. Job done.

Regulation was never about bitcoin, its about regulating the flow of USD.

but but but havent you heard bitcoins dead? again!  for like the 10th time.  I better sell everything at any price I can get!

That's what Wired Magazine said the last time a crash happened in 2011. Now they look like idiots.

http://rt.com/business/bitcoin-us-dollar-manipulation-658/

Well, seeing as how I cannot get any funds to an exchange to buy any bitcoin quickly, cheaply and without leaving a ton of value in an exchange account, and there are thousands like me. I would speculate that is whey there is more sellers than buyers.

Bitcoin will decrease to a level where more people can use it and not just for pumping and dumping either. Once it reaches a stable level then we will see a lot more websites using it for services. Once that happenes Bitcoins will really take off. What puts a lot of websites off from using it,  is its volitle state,  I mean no website or company wants to accept 2000 bitcoin transactions worth $100 each today and in a weeks time only worth $50 each. Give Bitcoin more time to become stable and it will fly :)

can we rename this thread to : BTC Bull Loser Thread?

Lol, actually the problem isn't that hard to figure out.  People have been taking out huge loans to fund their ASIC's.  Now that some of them have them in their hands, and they see the difficulty rising at insane levels many of them are cashing out all their coins as soon as they get them in hopes to pay off their investments.  The option of sitting on Bitcoins for the price to rise isn't an option for many people, especially those that have been paying their loan off for the past year or so while waiting for their year+ pre-orders to be sent. 

Shhh. Don't tell them not to panic. That way you get more cheap coins.

This is funny, For some people, it is, like obtaining crude oil at the lowest price like USD 20 per barrel, then sell at USD 99.99 per barrel.

However bitcoin may be another story. Better be careful.

Doesn't matter whether its up or down in the future, its extreme fluctuations are pretty much ruining its chances of becoming a widely used currency.
Its starting to prove too much currency risk for merchants to adopt.

Not sheep.  Hybrids of bonobos and pigs. 

http://www.macroevolution.net/human-origins.html

In the short term that is true. Bitcoin speculators have a psychological problem. They believe in the technology, but not in mankind's ability to be smart enough to use it. In other words, they have faith in Bitcoin, but not in people. They are jaded by corrupt politicians. However, there are technological solutions to that as well. Statistics is used to solve psychological problems.

Many people believe that we exist in a free market where economics is our tool. They use some statistics to predict patterns. I don't think Bitcoin is broad enough to apply economic theory. Bitcoin is a personal choice. It is our money. Money is very dear to us in a personal way (present company excepted, of course). As such, Bitcoin requires statistics of how we feel about it. We need more information than the traded price on a few exchanges. We need to know what each and every transaction is (or random samples are) valued at, not just those on the exchanges. Then applying statistics, we can evaluate the real price discovery.

This may be difficult to do, but there are folks working on decentralized exchanges which may be able to address this issue. Until then, enjoy the volatility.

For the most part people ARE mindless sheep who do not even bother to get out to vote!

My $.02.

:)

Too bad I can't short Max Kaiser.

I being a total n00be in crypto coins, I am totally ecstatic over the price drop this is a big opportunity for those like me to get on the bitcoin Elevator closer to where the early adopters did. That's why I think bit coin will survive. Also the increase of this forums membership over the past few days suggest I'm not alone at all on this idea.

But that doesn't make sense at all. If difficulty increases, wouldn't it make more sense to hold on to them as they get more and more difficult to acquire?

I think the easiest answer is the most likely, speculation is a very large part of the bitcoin economy so far, so when people sense a dip they all want to make a buck. Lots of people sell, many of them fail to catch the bottom and have to pay for those who do.

Sooner or later the value is bound to rise again, as long as the underlying technology is sound.

Not voting is a sign of intelligence, like not going to church.

Too risky to accept on a large scale, maybe, but as a fraction of total business it's just another investment. And those in the know know that sovereign currencies do tank, and no currency has ever been immune to this- not even gold coins. Governments used to mix their gold coins with tin until people figured it out, causing a crash.

who is terrified? you talking to the bots that control all the trading?

I'd wait till monday before we make in assumptions on where the trends go.

If you want to get notified when it hits 50, or start to go up you can create a price alert at my site: http://bitcoin.stoto.net/price-alert
The site will notify you in email just in time to buy.

and i will get it even cheaper when it goes down 50% from today\s price and people like you capitulate  ;D

Thanks MTV,THANKS CHANNEL V, Thanks Wall Street Journal and All of you coming today to listening my story of Success.


My story of succeed is something need to talk about back to June 2013...because Some cowards are panicking and fucking panicking even no reason panicking, Thus I can get my precious BTC at only 70USD..Which as you see : gentlemen it worth 10  ounces of gold per coin. (USD is not existed by that time).



Thanks again to everyone that selling on that day!!!!!

Live shows from 2070.....

dont fucking buy btc you idiots

why not???

you just made it to yospos

There won't be any capitulation here!

Ride'em Cowboy!

My $.02.

:)

Well went through the cycle and now naps

They are more interested in paying off their huge loan than worrying about how much the coin might be worth one day.  You can't tell the bank "I'll pay you back in a few more years, when these things are worth a fortune."   You have to remember some people bought over $100,000 worth of equipment banking on it arriving soon and having an ROI of less than a month,  now they have sat on that $100,000 loan, and now finally have the means to get the banks off their butts, and possibly save their houses/cars ect they put  out against the loans.

The people that didn't spend more than they could afford, are probably sitting on their coins hoping for a return to the value.  The big question will be how low will it go, and how long will it take all these miners to pay off their equipment before things can get back to a normal flow.

Another big question, which I don't know.  Is ASICMiner selling their BTC right away to pay their shareholders?  If nothing else, one can assume they are converting quite a bit to Fiat to pay off their buildings and electricity bills.  This could be effecting the price as well.

This latest crash has been great for me.

I rather luckily had a big reserve of NVC.

...and price went almost .04 and is still high  (was trading earlier for 0.032-33). 

And grabbed some discounted ASICMINER shares.

Life's good !  Even if I liquated to fiat (which I'm not going to do, I'm in BTC long) I would have about the same amount selling at 75$ now than I did at 100$ before due to my recent gains. (Well just about almost).

Life is good...keep the roller coaster rollin'..

Price will reach 50 usd and go up?

me too!! kkkkk  ;D

People are so cautious of BTC prices falling to almost nothing that they get caught unawares when there is a sudden price bubble and they start kicking themselves for selling too prematurely. But in all honesty who could have predicted an increase to $266 a coin in a couple of months? The only ones who made it to that level where early adopters with a diehard attitude about bitcoin.

Of course there are those on the other side who lose out when they assume the price will never fall and it does.

It's sad this innovation in currency is being curtailed by the lack of an easy way to buy it online.

Being easy to buy wont fix the early adopter issues. Nor will it fix its lack of use as a currency.

The difficulty of buying bitcoins is the main obstacle of making them a widespread currency. The average online user isn't going to be bothered with bitcoins when they see how many steps it takes to buy them.

Serving no purpose for most people [in developed countries] might have a big effect on that too. The only reason people are in bitcoin is for potential fiat gains. It isnt all that hard to acquire them considering that.

   I am offended by being excluded from "people".

but if he can afford to lose it all eg btc = 0

so why would he capitulate?

The mindless sheep who don't vote spoil it for the intellectuals who choose to abstain. A spoiled vote is how one can differentiate themselves from mindless sheep without voting.

Not voting is capitulation. It's like selling all your bitcoins because your holdings don't make a difference. This is why we don't have nice things.

No. No. No. That's far too scary. Much better to see loads of red candle waterfalls to be sure it is going down - and then sell, and wait for loads of green candle haystacks to confirm that it is time to buy, and then buy.

Finally, if somehow, miraculously, your buys are lower than your sells, then you are making profits!  :) easy!

Actually, if you live in the United States, it's pretty easy to buy bitcoins with Coinbase.  It's not instantaneous (took about a week when I did it, but most of that is the time required for the bank transfer), but it's by no means difficult at all.  With Coinbase, it's not much harder to buy bitcoins than it is to pay a bill online, and I'm willing to bet there are a lot more people who do that than use bitcoins. 

Granted, it's not as cheap as the exchanges, but if you're looking at ease of buying, Coinbase is great imho.

I was transfer my fund to MT.GOX, but my banker had return it back to me...I do not know what happen, since everything was correct...

You need to sit down with your bank and explain the whole cryptocurrency thing, other wise they will continue to blclk your transactions.

My $.02.

:)

Yes you get it right ,that they ask me what I am doing with the money and why I am sending money to buying virtual currency.
I just told them two reasons ,the first one is because Pound is in long-term weak trend and I don't want to hold it and slowly losing my wealth
The second reason is I said to them ,with BTC I can carrying out my money internationally with me without make a such appointment with them which is difficult and wasting time.

First time ever feel that save my money with BITCOIN is more convenience than with bankers.
P.S:I was trying to withdraw a big amount of cash today ,but they reject my request as they said I can't prove to them where I get my money come from...
This just ridiculous, however , after this I will try to change more my money into BTC,as I fell more control over my wealth, at least I don't need someone's permission to transfer my fund~~~~

Pounds? UK banks have blocked bitcoins for a long time, but now some departments of the govt is coming out and saying licensing isn't needed so this could change.

I will buy all you have at $.05 each to save you from poverty and destitution!

;)

2 months ago I was transfer my fund to MT.GOX ,and it was succeed.....
The Uk banks were sometime very difficult to negotiate, and they even got the right to stop me get cash.....I had enough of it...

The average online US user?

For example, on btcchina.com it only takes to send money by AliPay or Chinese online banking to a designated address, then after the funds have arrived, make a buy order and then a withdraw order, done. I would not call that “many steps”. The only thing to care about is somewhat long wait to process funding.

They never said it was dead they said "The Rise and Fall of Bitcoin" in effect it went up and down. They were intentionally trying to avoid contributing to the hype. When I read the article I thought it was very bullish I went out and bought some XBT (wish I had held until 2013.)  To me they look responsible and I feel like the Idiot.

^ This. It's not hard to buy bitcoins.

Exactly. They just arent useful. Yet.

Did you tell them it is none of their business what you do with your hard earned money?

Good to know. With all the complaints 've seen I gathered that US citizens had a hell of a time getting bitcoins. I still believe that the inability of instantaneously buying bitcoins online is preventing most people from getting on to bitcoins. The more people who use it the more uses will come about from it.

Of course,I did tell them, but they said according to their bank regulation that they can't gives me that amount of cash regard to my current transaction history.(I got several large amount of payments come in and come out recently.) Finally, no matter what I said to them , they just pretend ignored and the result is I can't get the Cash ~~~ Appreciated what good job they did ,thanks to HSBC....

Sounds like you need to start looking for a new bank.

Bitcoin is my new banker ,I am get out of ancient banking system ,dislike it because they always got reason to reject you ,and also they working for government ,if anything wrong or the government unhappy ,they can seize your account within minute, and what you could do ?nothing ....

More power to you!