Bitcoin Forum

Some are shaking with the drop and jump to the cash out. But let's see:

Did bitcoin or any exchange/service suffered any serious attack or is it broken?
No.

Did banks finally figured a way to be reliable and people stock everything there?
Heck no! In fact they are worse than ever, being held by strings and taxpayers. Expect some more banks to go bankrupt (or bailed out) soon.

Is it forbidden to have bitcoins everywhere?
No.

So... why?

It's just holiday season and most likely some need to cash out to pay for their vacations.
Probably the come back will not happen before mid September, but that's it.

Margin calls:
http://www.coindesk.com/margin-trading-crash-price-bitcoin/

Apart from that, nothing to see.

Bitcoin works as usual  :D

Margin calls on Bitfinex, apparently Ethereum (*cough* vaporware *cough*) dev team dumping 1000's of donated BTC, and panic sellers folding weak hands.

Yay for such a mature bitcoin market.

Moot point. People have decided they don't want to hold onto bitcoin anymore because development and mainstream adoption has stalled.


My savings account is doing perfectly fine. Meanwhile, anyone who invested in bitcoin earlier this year and held until now is down 50% in value.


Doesn't matter if few people actually want to buy them, which is clearly the case now.


Again with this line. This has to be the most fingers in ears, delusional line of thinking I've seen here. And that says a lot.

How do you know how your savings are or aren't?
You don't expect the bank to come forward and say they lost all your money, do you?
It's just a number in the screen...

Obviously who joined during the hype lost. But that is as valid to bitcoin as it is to anything else.

...Because there hasn't been a complete economic meltdown...?

Meanwhile, anyone who is holding bitcoin in unregulatyed exchanges such as Bitstmap, Coinbase, BTC-E, bitfinex, etc, is at their mercy to not be hacked or fold up with the money. And even if they hold it at home, it can be stolen, a hard drive can crash, their house can burn down.

Are you for real?

Yeah, anyone who bought during that crash to $3xx earlier this year is sitting on a massive loss.

Protip: Stop talking in absolutes, makes you an easy target.

I don't care if I'm "targetted" by mouth breathing bitcoin trolls. I enjoy it actually.

So first, I said, "people who invested in bitcoin earlier this year" by which I implied in January or February when it was >$800.

Are you really going to pick the lowest point of the year which held for less than a couple days and then imply from that that bitcoin has been a good investment in 2014?

... why would you store your private key in one place.

I will put my private key through 2 ciphers, GOOD LUCK breaking it bro good luck.

If you're gonna pick the highest point.. ya he'll pick the lowest...

Most people pick their anniversary date or their child's birthday for their bank PIN number, and use the same easy to break password for every website. Perhaps you have a strict security policy in place for your bitcoin stash, but do you really expect average Jane and Joe to become security experts overnight? We're talking about the mainstream here, and for these people, holding their liquid assets in a regulated bank account makes much more sense than "being their own bank".

That should be a no brainer, and if you look at the price, it's clear that the mainstream agrees with me.

We are talking about the ability to secure bitcoin that is all, not how stupid the average person is.

I didn't even pick the highest point of the year :D We were just shy of $1,000 in January. The $350 price point held for a few hours during a flash crash. So if you bought while everyone was declaring a new ATH coming soon, you'd be hosed by now. If you went all in in during a very narrow time frame during a flash crash, you'd be okay. So that's totally rational and speaks volumes about the future potential of bitcoin.

That's an interesting concept, because I'm pretty that's exactly what you are.


Oh so you were just cherry picking a time frame that supported your absolute statement without actually alluding to the bounds you were implying.  


It makes for a good example.  We could pick any other point lower than $498, of which there are a few.  You need this to be the bottom for your statement to hold, which it does not, because it is not.

Right, there must be a reason everyone on the internet does that to encrypt passwords ... NOT.

I'm trying to help people from losing their money. That makes me the good guy, and you the troll. I don't know how many times this year I've seen bubble predictions for the next month, and absurd claims of all time highs "right around the corner". They've all been false, and people need to be held to account for it. If that makes *me* a troll, then so be it.

This is a moot point. The fact is, the majority of bitcoin investors in 2014 have been burned. You can speculate any way you'd like, but I assure you there were few people going from nothing to all in during the short lived flash crash into $330s.

Who told you that it takes an economic meltdown for your savings to go down the drain?!
All it takes is some bank you never heard of in a place you can't even find in the map to go bankrupt and your bank to be exposed to it and pufff! There goes your savings!
Well, you still have a leverage with banks, governments will inject taxpayers money there to "save it". But even that will not work forever.

The lack of secure, simple, user-friendly storage solutions for the average person is one of the reasons why Bitcoin will never come close to mainstream adoption. Hence, one of the reasons why we'll never see another rally bringing us to the lofty heights predicted by the permabulls. We'll never get back to four digits. It's three and two digits for the next year or so. Then one digit.

You would need to know way much more of economics than you do to be a good guy, at the best you're a guy with good intentions.
Probably you joined high and sold low and therefore got upset on bitcoin. Too bad... that's how economics works, not with a 3% interest rate at some bank in a scam you know nothing about and that eventually will run out in a slowly burn ponzi scheme.

I bought back in spring of 2013 at just shy of $100 a coin, and liquidated the remainder of my position earlier this week. Much has changed since that time, and I am open minded enough to recognize the current price level is unsustainable and is likely to continue to follow this bear trend for at least several more months. As a result, I'm doing what I can to counter all the bull talk around here and provide people with realistic expectations, not, "OMG!!1! ATH next month buy while you still have chance!11!!"

a), b), c) and d)
I'm not hysterically saying "buy" or "hold", just giving my 2 cents. Do whatever you want.
There is no such thing as realistic perspectives in a speculation market, unless some external event come to effect over bitcoin, which it didn't so far. For the rest is pretty much as valid for me to say the bleed will last about 1 month as it is for you to start shouting "OMG! Sell now!" - which sounds like "I want to re-enter but this is F expensive now".

It's not your place to be giving financial advice or playing the savior. If you're shouting that the sky is falling and bitcoin is dying, what happens if someone sells based on your opinion and the price rebounds? How should we hold you accountable?

We're all big kids here, we know what we're getting into.

Also, you're a troll. Back to ignore with you.

I have no way of knowing how far it will drop from here. Given the absence of a strong rebound, it seems apparent that it will drop further into the $400s, but I cannot say anything with certainty. It needs to be observed day by day.

I am not proclaiming a fall to $1, but rather I am warning those who are willing to listen to exercise caution in this market. A lot of people are losing their shirts right now for getting carried away by the bullish statements around here.

And I had you on ignore first. So back to ignore with you, troll  :D

You are never getting your goxbux back kireinaha.

As for "the mainstream", they are not who will fuel the next bubble. First ones were fueled by ultranerds, then super nerds, then regular nerds. Now it's Big Money, the kind that frontruns Joe Average. Next one will be fueled by the slacker type of big money, and finally worldwide Joe adoption will top things off.

Big Money ain't stupid enough to enter this ponzi scheme.

Somehow I completely bypassed MtGox and used other exchanges instead. Even back in spring 2013 when I got involved, people were saying horrible things about them, so I wisely steered clear.

You've got some pretty optimistic expectations... however, I see that big money has already gotten involved by investing VC money into the exchanges and third party payment processors... but not so much in the currency itself. There is guaranteed cash flows from investing in infrastructure, but bitcoin itself is far too speculative and a gamble for them to invest heavily, which is why it's not happening now and most likely will continue to not happen for the foreseeable future.

So which bank/cc company are you a paid shill for? Lol

Is it impossible to trace the movements of the IPO invested BTCs in ethereum to deduce if the price drop has anything to do? wasn't the address public for donations and IPO? you could see if they got sent to an exchang address or something, but of course these are generated randomly so we cant know ...

A couple of months ago I was just moving my coins to another wallet - for security only - and saw some drop in the price. It could be related, every time somebody sees like 5 or 10K moving around thinks it will end at an exchange to be dumped.

I'm just an ordinary guy telling people to leave the sinking Bitcoin ship before all their money is lost.

Ordinary. So, stupid. You shouldn't be here.

Don't offend their delicate sensibilities. If you're not with them, then you're clearly a "paid shill" who's out to get them. Just plug your fingers in your ears and repeat after them, "We're going to $10,000. We're going to $10,000. The fundamentals have not changed. We're going to $10,000."

And then everything will be OK :)

http://mamamarmalade.com/wp-content/uploads/2013/01/fingers-in-ears.jpg

See the thing is, most of us long term bulls are basing our choice on logic, numbers, likely outcomes. Not emotion. Mocking us won't work to anywhere near the degree it would anywhere else. Just makes you look childish.

I know.
My favorite quote from the permabulls is probably this one:

What I'm start to see is a correlation between the drops and number of trolls around.  ::)

Do you guys realize that all you look is like one of those wackos with a billboard saying "The end is near", don't you?
But why should we care about you? Eventually BTC will trend up and you all will just get back to the shadows, to return at the next drop... if not with trolling nicks like fallllllllllling or so.

Yep, I'm clearly offended lol  ::)

I just call 'em like I see 'em chief.

Well, if hellfire and brimstone was falling from the sky, I might start to take their advice a bit more seriously!

Should you not heed sensible advice about bitcoin when it has been falling in value all year?

On the contrary, the bitcoiner evangelists here sound much like fellows like Harold Camping and his bullshit prophecies... "Salvation coming soon for the true believers. Buy in now while you still have time to join us in the heavenly kingdom of $10,000 per coin!"

...

nothing happens.

"This time I'm super cereal! Buy in now before it's too late!"

Nobody is talking about 10k a coin, and honestly by your doomsday prophecy behaviour I would bet one of those 10k wackos is you under another nick during an uptrend.

Now you're just being intellectually dishonest. Right on the front page this morning:

Yea, rpietila is a scummer if there ever was one. He pretends to be a TA guy, but then talks about $10,000 BTC which is predicated on neither math nor logical thought and circumvents so many TA trigger points in the process. Then, rather than an appeal to logic, he uses an appeal to authority -- "I am writing this from a castle that I bought with the money earned by trading Bitcoin based on the very premise I have explained to you here."

Does that sound familiar? That is the sales pitch from the real estate flipping class advertisements where the camera pans from the guy's mansion to him sipping pina coladas while he tells you about his brilliant new investment plan that will save your life. It's almost as though the jack--- popped right out of the Wolf of Wall Street movie (which was based on real life sociopaths doing the same thing)

The fact that people listen to him is completely unbelievable and really worrisome for the longevity of BTC. BTC is great, strong, and doesn't necessarily depend on a short-term price... but scammers like rpietila screw up the brand.

+1

Regardless of you come out saying BTC will worth 0 or will worth 10K makes you of the same kind, just on opposite sides. I'm not being intellectually dishonest because I'd never made such claim for you to keep going around such insane rate as your counterpart, and that post you are quoting isn't even from this thread.

The truth is, regardless the rate, Bitcoin isn't anywhere broken. Everything is up and running. Go down to 100? Not much of a worry! Eventually will go up. When? 1 year? 1 month? Who knows! Bitcoin is still exceeding high the expectations about it we had by 2010. I still remember people around discussing if it ever will met dollar parity.
You seam to look at BTC as some get rich fast scam where if within 15 days you're not making a 50% profit it means you got scammed.

Just calm down and enjoy the ride!

I believe the word you meant to use is "scammer". $10,000 BTC (and up) is predicated on the expected exponential adoption of Bitcoin combined with an ultimately fixed and predictable supply. TA is not required to make this logical conclusion.

Carry on with your trolling.

This has to be one of the most retarded perspectives out there.

Of all the years that Bitcoin has existed, 2014 has probably seen the most acceleration ever in adoption, infrastructure development, promotion and trading.

This time last year there was no Overstock, no Dell, no Expedia, no Dish.....et al. There weren't half the mobile wallets that now exist nor exchanges nor media articles - not to mention 7 times the market cap.

Add to that the fact that it had everything but the kitchen sink thrown at it earlier this year in terms of FUD torpedoes from the MSM, + Gox etc, and the fact that Wall Street is on the horizon with ETF's, it's difficult to see how any conclusion can be reached other than this is eMail 1993. You don't think people are buying ? They're buying all right - in droves - otherwise you'd have seen a bursting balloon months ago, right down to zero from all the fiat gateway conversions by Bitpay and Coinbase.

P.S. Here's another one... http://www.pcworld.com/article/2465743/ebay-may-begin-accepting-bitcoin-payments-via-its-braintree-platform.html

http://online.wsj.com/news/article_email/ebay-payment-unit-in-talks-to-accept-bitcoin-1408052917-lMyQjAxMTA0MDEwNDExNDQyWj