Bitcoin Forum

My bet: nobody has any rationale for this hysterical selling and dumping. Or did I miss something?

Microsoft takes Bitcoin and increasingly many others.
Bitcoin core has been modularized and improved code wise.
We have multiple implementations of Bitcoin core (like a true protocol, we had only BTC core back in 2013 fall/during that price hype)
Bitcoin is getting easier and easier to use - while staying safe.
Hardware wallets and multisig.
Gavin has a good road map for scalability and is widely supported in his efforts by the community.
Multiple strong exchanges.
Dark wallets coming/here.
Un-closeable P2P markets coming/here.

If traders think that Bitcoin was worth 1000$ each in 2013 and <300$ now I dare say they are demented.

Big hodlers getting out of the market and maybe a reverse willy bot acting somewhere.

Or maybe Bitstamp is doing it to avenge the hack, so the hacker will get less money in the end.

Bitcoin is just not safe for privacy/anonymity/untraceability it has been proven https://bitcointalk.org/index.php?topic=817937.msg10087332#msg10087332 so this is playing a major role but I don't think it's the main reason. Some hands are at play in price crash and it's coming imo from China!

everybody is just stupid these days  ;)

Ya... u missed something.

http://www.reddit.com/r/Bitcoin/comments/2sdwf8/butterfly_labs_is_the_culprit/

You should stay away from drugs! ;D

this idea seems legit and really beneficial :D

i'm curious (and really damned confused) as well. what the hell is going on?

Supply is bigger than demand! => Price goes down

interesting read. to sum up: BFL has some 90k btc and has been order to make customers whole. to do sell, gotta sell, whatever the price.

at least that's what the poster on reddit proposes.

They can sell them off market. So that seems not true. There are brokers that can handle that.

^^This is the only true answer.. anything else is an attempt to grab at anything.
This is a market. Does anyone really know why the stock market does what it does? Not really.
In the end, it will rebound if there is demand.

All of these doesn't matter as long as Bitcoin has "Proof of Waste" mining, price can only go down without new money inflow.

The rational is the high inflation - the crash is fully expected and 100% rational.

The people calling this back in November/December have been called names and labeled 'trolls'.

You've been on the forum for a month.
It's about perspective. We are still in the early stages on Bitcoin and inflation is necessary in the beginning. A decade from now (after a couple of halvings), people are going to wish they were around in 2015 (and earlier).

Bitcoin has not been hacked. It is decentralized.

Is it even possible for Bitcoin to be hacked? Nodes could be compromised but nothing else as each node verifies the other.

its because of a mixture of the recent news the price is falling.

yea I don't think so. That isn't the vibe I get from the community right now.

Everybody is super crazy. It has been so long since we have reached these lows before.

Pent-up frustration with btc's lack of progress on adoption/innovation/stability?

+1

We´ll see on december 2015.
I´m buying right now. Bottom must be reached in the matter of hours.
Volume on btcchina 250.000 BTC.
Total output volume on blochchain is 2.5M BTC. (today)

You miss that Bitcoin mining is based on wrong assumptions. What until hashrate drops 2-fold if the flaw is not obvious to you.

Can you please explain this to me as if I were a 7 year old?

This is interesting.

https://blockchain.info/charts/hash-rate?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

It is hashrate chart .

13.1.2015 there was 358.478.251 GH/s, 14.1 it fell to 229.513.534 GH/s and today it´s back at 345.363.222 GH/s.

I hope we do not face 51% attack from some major pool.

These 'ultra secure' cryptos are only secure until the ones who protect the network (miners) stop dropping out in troves...





Oh wait.

Do you even know how those network's "Hashrates" are derived from?

Because it seems you're just a clueless fcktard.

Simple.
There will be 50% of power
- not suitable for mining
- switched off
- at zero cost
- ready for doublespending attack

Bitcoin is broken.

crashes happen in markets from time to time.  it happens at the nyse, ftse, tokyo, hongkong.. etc..  what makes crypto markets different?

I understand that mechanism, but I do not get reason for double attack. What will be benefit, the trust in the system will destroy whole value.

The reason is dollars.
Nobody cares about the value of bitcoin anything when he is able to make profit in dollars.

or maybe bitstamp doing it to make it easier to pay back the stolen BTC.  ;D.

j/k

dont worry, he's just trolling.

China thinks David cameron and NY are going to ban Bitcoin shortly.

Yep, it's all mass hysteria, no one really has any proof for the bullshit they're peddling, I suspect some of them are just trying to take advantage of the Bitstamp hacking, the others just don't know any better.

Just shut that bad noize about Bitcoin. Too big companies and investors entered the game during 2013 year.

There's some noise about UK banning all crypto, ALL crypto, not just coins. "It's only for terrists" etc.

Translation: CFB wants you to buy NXT as it's a PoS coin.

So essentially you're saying: just like other markets, the only rationale here is the lack of rationale amongst people. Hence the occasional crash with no legit reason in particular.

I don't think it's cryptocurrencies specifically just encryption, which is going to be difficult because of course all sorts of technology falls under that category, as I've said before I think it's David Cameron tryig to appeal to his social conservative base, unfortunately I'm probably going to have to take a closer look at what the politicians are planning on this.

Cameron wants to ban end-to-end encryption so that his spy-agencies can (continue to) snoop on everyone. This affects messaging apps, email etc.
Bitcoin is not affected, though they will want to de-anonymize all transactions eventually.

Good luck with that, Cameron Clown, especially when you are voted out in 4 months time.

yea, that... that totally sounds reasonable, banning end to end encryption. uh huh. i'll get right on supporting that for my country!

or... perhaps not.