Bitcoin Forum

I have a theory that in monetary system like bitcoin it has 3 major component :

1. Miner   (primary function : Sell)
2. Consumer (primary function : buy and  Sell)
3. Speculator (primary function : buy and  Sell)

as the wake of acceptance of btc among big online commerce, suddenly consumer become seller and they was reluctant to buy back   (as my poll suggest : https://bitcointalk.org/index.php?topic=796697.msg9012848#msg9012848).  Speculator seeing that trend soon join the bear too. so what happen is all 3 component each become "net sell". hopefully that trend will reverse as we will reach the a price that acceptable to consumer and speculator to become "net buyer" again.  :'(

This is quite obvious now that it is a coordinated attack; somebody is deliberately selling through all support levels supported by jumping monkeys spreading doom and gloom.  I don't like conspiracies, but if we'll ever learn the truth I'm sure it will be fascinating. Meanwhile, buying all I can off that attacker, thanks anon.

someone who stole alot of bitcoin and is cashing out

How are you still so confident there will be a reversal? I wish I was as confident as you... I'm not scared or in a doom and gloom mindset per say.. but I'm not confident either

I am confident that there will be a reversal because nothing has changed. They try to scare you that something did you just don't know, but I prefer to trust the known facts. Known fact - everything is fine, bitcoin works perfectly, paypal started accepting it, and someone is so shitlessly scared of bitcoin that he invested alot of money to try and bring it's price down. So I use what I know - he does not have endless coins to do this, sooner or later he will run out, then there will be a recovery.

My advice - buy what you can, move off exchanges immediately in case it turns out the coins were "imaginary" - yes, exchanges can do that.

oh dear...

i never thought that. im include that in the poll.

i think you right. fast crash even with good news. this market is manipulated

You think Stamp wall could be fake?

The only way to figure out is to buy it and move somewhere :) Pretty obvious that it is one player though. I won't trust stamp with even 1% of money needed, so somebody either has alot of balls or it's stamp...

we need another willy bot..  ;D

need fake money to run willy bot...

btw nice beartrap on 275 by mr manipulator. i hope he caught just a few bear.

In the past it was exchanges themselves. Mt Gox and Bitcoinica were evidently responsible for major manipulation. No reason to think it isn't also  exchanges playing with the market this time.

All of them together. Claiming on just one is a bit stupid.

If it goes up or down I wont loose anything.
the goverment around here got greedy and wanted a part of the bitcoin adventure, we have to give up any proffit or losses on our tax return.
So if bitcoin goes down I can just write it of on my tax return.
So if it goes down, the goverment looses, not me.
For now I'm enjoying cheap coins

Guys I am trying to see the "upward" reversal but really...... there are 2k coins at least to get it up to $300.......

Will someone buy 2k coins tomorrow or throughout next week without more and more selling?

Did you guys forget the miners weekly sale of thousands coming tomorrow?

I know there will be a massive insane reversal but I do not know when.... But I do not think it is this week either.....

Chinese!

http://bitcoinpricelive.com/chinese-bitcoins-crash-market/

Everyone is responsible. Everyone in the Bitcoin game is starting to panic, since they're realizing that Bitcoin is a pyramid scheme doomed to collapse.

Not a mini crash.  Just a part of the entire settlement of the MTGOX engineered bubble (s)

But what doesn't make sense to me is why does someone with a near endless supply of bitcoin want to crash the price down and invoke fear to the public? Wouldn't he make more money by allowing bitcoin's price to rise? He is deeply invested in bitcoin yet he's purposely causing damage, which may even be permanent, to people's confidence and discouraging people to put in money? I doubt he is trying to create a cheap re-entry point for himself.

Which makes me think it could be the big miners who have been collecting bitcoin for a long time or someone with stolen coins who don't care about the exit price.

or someone who want to kill bitcoin because if bitcoin is dead today, there will be no bitcoin 2.0. 

That is rather silly, there is no point in low prices for either group; besides, stolen coins, on an official KYC exchange? Riiiiight. Also, why do you think thieves or miners don't care at what price to sell? You think they are all idiots?

No, this is rather obvious that the price was pushed down *on purpose*. Naked short selling, or manipulation, or an expensive attempt to discredit bitcoin, I don't know all the possible dirty tricks that could be at play here. Maybe it's Satoshi who decided to fix the project by shaking out all non-believers? :) We don't know, but I am quite positive by observing how this unfolds that this is an orchestrated event, not simply some panic or stupidity.

That wall and mini crash just so happen at 00:00 china time if I am correct. It was orchestrated attempt.

Bitcoin bulls will convince themselves of anything -- no matter how ridiculously preposterous to an outside observor -- to explain the downtrend, because "the fundamentals have not changed".  :D

OK, keep telling yourself that. I guess it's easier than acknowledging that you were suckered into an investment scheme. The fundamentals do not matter if nobody has a use for bitcoin, just like the fundamentals of HD-DVD doesn't matter, because nobody wants to buy that anymore. At least HD-DVD lets you watch a movie... you can hardly do anything with a bitcoin. Anyway, much less than you can with real money!

Stop deluding yourselves, bulls. Speculators are figuring out that the game is over, there is no reason for consumers to buy bitcoins, no more development to the protocol is coming, and it's a lost cause.

please tell you're boss i really appreciate all the free money.
if he could dump another 30k bitcoin for 50 USD ill be grateful forever.

Oh it will happen... Put your order in at $50 USD each BTC now & watch it get filled in no time!!!

*lose, not loose; government, not government.


Speaking of government, though, and I'm not one for conspiracy theories -- just throwing out the idea: Could it not be a sovereign government that bought up a bunch of bitcoins over time, and is slowly selling them off now to harm the Bitcoin image?

Anything is possible! But what you bulls aren't getting is that nothing like that needs to happen for the price to go even lower. The current bitcoin system itself will drive the price lower again and again!!!

http://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/

now this bitcoin crash ???
coincidence ???
they said that the hack are done by russian, and russia ban bitcoin.  but then again they might just hate russian and make them scapegoat.

Why would you hack something you baned. Hacking is adopting!

Russia hasn't banned Bitcoin, from what I've read.

600 000 coins were stolen...

i think this is the #1 reason Bitcoin stays below 350 for another 18 months. All the stolen coins have to go to someone else, and the price probably has to go to $50.