Bitcoin Forum

Since this time round it peaked at $520. How long will it drop now?

depends on how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange


people that are already into bitcoin ...prob not a big deal they will use a future work around

people NEW to bitcoin...er not so sure...myself if I was new to bitcoin this year from the press i've heard i'd run far far away....


so don't know...do people 'get' bitcoin...or are the 'masses' clueless and will kill the idea thru non-action

we will be the first to know! (heh)

Searing

Quick Answer... Nobody knows.

Anyone can speculate.

I think you missed a few words. It should read:

"depends on how important the non-chinese bitcoin speculators imagine about how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange"

It will rise again, just not as fast as nov/dec

People who are new to bitcoin will follow the mass or more intelligent people will gather all needed information about bitcoin their selfs and will do decisions on their own.

Yes, i'm almost sure this is not 2-3 days question. We will see bitcoin situation in atleast 2 weeks , there still might be bad hits for the price but it recovers.

That's correct (https://www.youtube.com/watch?v=b3_lVSrPB6w)!

2-3 years before we will see "the situation" for what it really is (https://www.youtube.com/watch?v=Yw0aoVpFCDw&t=51s). (hint: santa = fiat)

In all seriousness though, here's what's really going down (https://bitcointalk.org/index.php?topic=572535.msg6255866#msg6255866).

P.S.
SPOILER ALERT

https://i.imgur.com/5hNGstT.png

Until the Mt Gox situation gets clearer. A lot of Bitcoins (200,000) at stake. Any public or private auction can destroy the exchange rates. I am also waiting for the Japanese court decision.

Those coins are already in circulation (they are under the control of someone), so I don't see what effect any decision by the Japanese court could have?

Unless you are actually speculating that the Japanese court could order those 200kBTC seized and auctioned off and whoever holds them now would actually comply with that? Because that line of speculation seems quite fantastical to me. In fact it seems like three fantastical outcomes in series, so fantastical cubed.

The exchange rate damage from Mt. Gox has already been done, and then amplified further by a suspiciously well-coordinated newsmedia blitz.

Bitcoin still stands.

http://bitcoinne.ws/wp-content/uploads/2013/10/HOLD-small-300x187.jpg

I was not talking about the stolen Gox coins. I was referring about the remaining coins within Mt Gox. They will soon be seized by the Japanese authorities and then auctioned.

So was I. Someone already has access to them hence they are still in circulation. There isn't even any indication that Karpeles has been told not to move those 200kBTC by the administrator. Nothing at all to show that they have any interest in the Bitcoin assets of MtGox at all.


That sounds highly unlikely to me.

Would you like to have a small wager on it not happening?

Let's say 0.1BTC says that the 200k MtGox bitcoins are not seized and auctioned by the Japanese authorities any time in 2014. To be verified by a transaction on the blockchain showing at least 200kBTC being paid to somewhere, and a corresponding public statement from the Japanese authorities describing how the auction will take place then that auction being publicly shown to have taken place? Payable on Jan 1st 2015?

They will sell the coins slowly not one shot

yeah that way thingy you said above.....(i be sooooo articulate NOT!)

yeah the above pretty much covers it

Searing

Mega +1

I am a little bit confused. The statement was that they recovered some BTC200,000 from an offline wallet. At that time, Mt Gox was under a lock down. So no one could have moved the coins. At least let us hope so.

Absolutely right ^^^^^. They DID find 200K coins in an OLD wallet they forgot about. Makes you wonder how many other wallets they forgot. Simple fact is, they (MTGOX) never lost coins through hackers, only by insider thieves who've already sold most of the coins.THAT was the reason for finally going belly-up, the milk train had run out of milk.

Something does not sounds right. How can someone steal 850,000 BTC, without anyone noticing anything? It would have taken weeks, if not months to steal all the bitcoins from the hundreds of wallets.

Guys whatvever the REAL story...GOX MADOFFED everybody ....when they knew if "THE HACK" is real it does not really matter as they for months or years misled and deceived all as to teh true situation

He needs to goto jail .. we need GOX ..BFL and all other shonks to be expelled from crypto ..bring on bitstamp and their effrorts of minimal regulation as this is what we need

MARK K & Josh Z & company need to be shown for what they are CON MEN ... crypto needs to grow up if it whats a future

BFL is still cheating people of their hard earned coins. And nothing can be done against them.

What more, BFL is even trying to destroy this forum. Has anyone seen this:

https://forums.butterflylabs.com/announcements/8203-win-butterfly-labs-imperial-monarch.html

Sure, MtGox's statement was that they recovered those funds. So if you believe them then you would have to agree that MtGox still has access to those bitcoins and they are still in circulation because Karpeles could decide to spend them at any time.

To go from there to some scenario where the Japanese administrator — in contradiction to their own government's previous statements — recognises these bitcoins as assets of MtGox and decides to work out how to seize them, do so, and then auction them off, sounds to me like the height of fantasy.

But if you don't have even 0.1BTC's worth of confidence in that theory then I don't think there's any point in us debating it further.

In summary I think the MtGox débâcle is done with and while some miracle reinvention of the company could just possibly cause some positive press that pushes the bitcoin price up a little (irrationally), I don't think there's anything negative left in it.

$500 seems to be the psychological price right now. I would love to see us creep back to $550 levels (sustainably)

It will do better than that.