Bitcoin Forum

after been at 900 usd, now is down to 500, is it the end of BTC? I think it could.

What do you think??

No, it's not the end. It's only the beginning!  :D

No, even BTC 1 = USD 10 is perfectly fine for Bitcoin to work as a currency.

It's just a stabilization of the market, such as when the price was within 120$

You're crazy to think this, there's only one way bitcoin ends and that's if someone ever finds a 100% way of destroying the network which right now seems next to impossible.

If btc was going to end, it would have been when it dropped from 250 - 100 . Right now, its too popular to "die".

Not true. Everyone would stop mining. Electricity costs and costs of hardware would become prohibitive.

There must be a minimum price per bitcoin for the miners to make a profit, otherwise they wouldn't do it.

This is true although some would continue to mine on the basis that the price will eventually rise, but now that ASIC miners are the only real way forward, the price of bitcoin is somewhat set by the companies willing to go through the process or making the processors.

For the network to function it would be enough if a single person mines on his smartphone.

If miners don't make a profit they stop (in reality not all do it), but unless they all stop at once, difficult goes down and the Network still functions.

The problem with a large mining drop, is if it happens too fast, we could get stuck on a block for a LONG time. Like some of those ult currencies out there. But hopefully it would never drop that fast.

So fickle are the crowds...

How many times do we have to go through this before people get it: NO. Bitcoin isn't going anywhere.

Any value that brings you profit is a good value. So even if its 50$ and you still earn money the price is OK. If you are sitting on 100k and you didn't sold for 750$ then that is your decision, just don't be crying if the price drops and never goes as high as that....

for you it is the end maybe  ;)


@crazy_rabbit

many times :)

I think that its also because Bitstamp was "down" for some days and had issues...

It is not the end and next time we will probably see something like up to $1500 and down to $900-1000.

The End?? We started the month at 200$ and your complaining it's corrected to 500$!???  WTF.

What? The end? Why? The value of bitcoin is doing GREAT

Right?

Yeah, and mining difficulty would decrease, thus allowing you to mine more coins/hash.....

I was really glad to see such a relatively gentle correction to ~$500. The price was going up so fast yesterday it seemed like the market was setting up for a crash.

I really wouldn't be surprised if we saw yet another rally to a new all time high/correction before the end of the year.

It's not the end, for many many many MAAAAANY people on the world it is just the beginning..

I'm not an economist by any means, but I agree with you. It seems like the natural growing pains of a maturing economy.

Definitely not, such volatility isn't good for any currency and still less for a wannabe... 8)

many.

Is going down again I am afraid that this time will be the end of BTC and we will all lose our money investe on it.......

But on what you based your assumptions?

http://www.youtube.com/watch?v=__VQX2Xn7tI

We share same opinion  :)

In the price is down to $770

Wow that is really huge analysis.. So sell all your bitcoins.

I really hope this isnt the end!  im just getting started! lmbo  :-*

now i just have to convince my husband to buy me a bitcoin for christmas teehee

It will be the end when we will have no electricity on the globe.

It is called gut feeling... Instincts are usually fine when you cross the road, but as a rule they do a poor job in helping you to trade profitably. Market knows your instincts much better that you could think it should and even better than you could think you would...

Feelings in trading is useless. You have to see things in the long run.

price of bitcoin is like a rollercoaster - up and DOWN. step out if you dont like that.

I think now there was a rapid rise due to a too many new ASIC  miner, but in the long run  if a difficulty is rise will definitely return into the $ 100-level .

Common sense would suggest quite the contrary (i.e. less supply would cause higher price). Recently there was much debate over here about whether newly minted mined coins and difficulty rising affect Bitcoin price somehow. No definite answer as of yet, but many (me included) think that the price is affected far more by speculation and the introduction of new users to Bitcoin than by hashrate and difficulty...

Partly agree, but what about the threat of altcoins and the mental barrier of being able to purchase so little Bitcoin for your dollar? I think this is the biggest barrier for becoming mainstream, making it harder for BTc (or any altcoin) to succeed.

Yes, I also thought of this. My best take on this so far would be to think up some catchy name for, say, 0.001 BTC, so people don't get scared off by the minuscule amount their hard earned dollar represents in Bitcoin...

Perfect thing would be some kind of stock split, which is impossible. Renaiming has to happen as it is quiet odd to order a coffee for zero point zero zero zero five btc please.

There was another guys doing this renaming thing i remember. But to be true milli and micro is by far the best names.

My stance is different because there are many things out there to which milli and micro are applicable. We need some proper name, something like Satoshi, but bigger in scale indeed...

According to Bitcoinwisdom is one bitcoin for around 880 dollars. So it's close enough 900$. And if you look back, there is great development of bitcoin. So to the question if is the end of bitcoin, I answer: absolutely not! I do believe bitcoin will be growing a lot more. But anything could happen... :D

I think now is the end of BTC first it was at 1,040 usd and now is going down like a stone is at $930 in this moment, it will drop to zero today, I am very afraid....

Now it is at  1,050... So don't worry ;D

it is nice if btc will remain between 900 and 1k.

This is the end
Beautiful friend
This is the end
My only friend, the end

http://www.youtube.com/watch?v=MJNsQPRSWpY (http://www.youtube.com/watch?v=MJNsQPRSWpY)

(not)

That has to be the weakest hand I've seen..

this is the big crash, is down to 900 and keep going dow....

What do we do??????

Just hold, it'll come back up pretty soon, we're in the adjustment period of a 9 day cycle, so all good.

Obviously you do not panic.

Also don't be greedy, seriously, money can't be pulled out of a magic hat with no risk....

In the long-term bitcoin can still go up at least another 10 times (within 4 years).

Now we have to switch to using mBTC, especially when dealing with exchange rates.

Nothing , just we hit the ignore button of people who yell crash crash crash all day.

We just had a mini crash (less than 50%), so what, it's the nature of this market still in its infancy. Mini crashes correct back up in under a few days.

A big crash will happen when there'll be nobody left yelling 'crash, crash soon', instead everybody will be yelling 'buy, buy'. That's when you should expect a big crash.

Just hold on to your coins and pitty the fools that sold at bottom prices.

Later this week can expect 'I trade it and end up with twice less money than I had before the trade, what am I doing wrong?' kind of threads.

I'll give you $11 for them. Lol ;D

We adapted to using cents. And then we all got rid of them because they weren't worth anything.

MicroBits and MilliBits.

I think we can get used to it. Heck, call them millis and micros. Or maybe Mews. "Can I have a latte?" - "8 and a half Mews please." .... lol.

I'm totally ready for paying by bitcoin. Have only done it a couple times, but it makes more apparent that my money stash is just numbers. That reality is more apparent in the crypto currrency world. I find it easier to detach myself from it, and be more objective about purchases.

Anyone else reflect on how spending in bitcoin changes how they view wealth? Does it make you feel more like life is a video game?

Go for one syllable.   "Mill and Mike"   

I've had almost heart attack while reading topic, but looking at this chart we've had second fall earlier and it's stabilizing now :) I thing till end of year we will have something about 1300-1400$ again.

i'm not so sure. for bitcoin to gain popularity and to remain as it is we must have a floating price. the fast they rise the harder they fall. ;)

No! this is not the end of bitcoin.
People from China are buying lots of bitcoins as we talk!
This is why the price got that high...  ;)

back at $1200 range

The china hype ended already. AFAICT btcchina price is lower even from bitstamp and pretty close to that of btc-e.

true on that.  mtgox and coinbase work @ 1200 but btc-e and other foreign exchanges work around 1k

Now I am very very afraid. because of the Chines declarations that they said the BTC is ilegal

I think this is the real end of BTc and all the Alt coins..

What do you think?

Should we sell, hold, or buy??

First read carefully then utter your statement.

They didn't say Bitcoin is illegal. There is another thread about this problem. Try to read it. If the "real end" of BTC and other alt coins will come, you won't have to ask if it is THE end. The price is less than 10% lower than it was yesterday. It doesn't look like the end to me...

I think you should get out of Bitcoin and forget about it entirely. Obviously your are even scared by things that are expected.

Do you think Bitcoins success will be a straight line up?

If you decide to stay you better fasten your seatbelt, it's about to get bumpy.

Yes I think you are right. I will fasten my seatbelt because the way will be bumpy as you said

If you are so scared about price volatility just diversify your BTC into few alt-cryptos like Quarkcoin, Zetacoin, Digitalcoin, Worldcoin etc. Choose what you want I just posted you examples.
Then you will sleep more peaceful.

Seriously? Your advise to hedge against price volatility is to invest on alt coins? And out of all the coins to invest on some of the most volatile ones?

He is scared that he will loose everything couse he has all in one. Diversifying is very natural thing in investing and one of it's reason is to avoid loosing all your money that you put in.
But sure I understand what you mean, instead one volatile coin he would have a few now, but he can feel better about his loosing everything fear.

Well i don't think that he 'll feel any better when he realizes that alt coins price is pegged with bitcoin. Even more when he realizes that if bitcoin collapse ever other alt coin will collapse seconds later.

Not entirely true couse there are other coins that you buy by fiats. Few by dollars on btc-e.com and lots for CNY on bter.com.

I wondered what was up with Bitcoin lately as it seems to drop in value by a fair margin now but rising for a bit?Does this mean there's any sign of the 'bubble bursting' or is this a sign of something else going on?As I was shocked to see that 0.684BTC (that I have) dropped from around £500 the other day down to around £381 now.

I don't think it's the end,I just want to know what's going on with BTC lately.Some answers would be helpful :/

Chinese goverments news about bitcoin. Nothing so scarry but people are croakers and this is how it looks like ;p
We already had three significant corrections since month, it is still normal.

the end is coming everybody. run to your solar powered bunkers in the hills and hide until the aftermath. hide your wife, hide your kids, cuz they raping erbody out hea.

If rapists will be female fitness clubs instructors then I'm in.

Haha, most probably you misunderstood me ;p

Well, at my size and weight , I find it funny that a female fitness instructor could rape me :)))) Even if i'm allowing her to :)

You understand that price dropped from1250 to 650 right? I mean not being a bear is one thing and being ridiculous is another.  ::)

Yeah its a pretty insane drop but i think this may happend sometimes until more people get into BTC. just my 2 cents.

Everyone knew this was coming. Price goes high. Someone that got in early decides they want to retire and they drop 30,000 BTC. Price crashes. Rinse and repeat. The market is too small to bear any amount of sell off.

As a hint, this is when you either hold your BTC.. or buy BTC. But only buy if you think its back at the new bottom... wherever that might be.

Ironically, why would they want to drop their stash in the first place? If Bitcoin is the money of the future, it just doesn't make much sense to convert the coins (back) to dollars. So no believing there?

If I had 10,000 BTC I would cash out at 1200 per BTC. That's 12M. I can retire on that and not have to worry about BTC anymore... or really anything. And my kids wouldn't either...

I'd buy a fat annuity and just enjoy the rest of my life.

lol new guy. No its not the end. Most of us have seen this a half a dozen times now and we are all still here.

Hmmm...most likely end up in a flea ridden motel room somewhere in Mexico surrounded by booze bottles and a fat hooker.

Lets do some sad math...


Assume that you need 10,000 BTC to cash out and retire. This could be anywhere from 6M to 12M... just assume that is enough.

I currently mine .1 BTC per day.  That means that if there was never another difficulty increase (HA!) I would have to mine for 100,000 days or 273 years.

Or increase my output. .1 BTC is ~ 150 GH/S. Just say I bump up to 1 BTC/day. That's 1500 GH/S. or 1.5 TH/S. I'd only need to mine for 10,000 days or 27 years.

I am full expecting an order of magnitude increase in mining power at the beginning of the year. So my .1 becomes .01/day. Maybe by the end of February or early March. So I better be packing 1.5 TH/s just to keep up with the arms race at the beginning of next year. And I'm still 273 years away from BTC retirement.

Short answer... sell mining equipment.

To dream the impossible dream!

Just consider for a moment that Bitcoin proponents turn out right after all, and in the next few years your millions will be made worth next to nothing? Do you really think that big bosses don't know about your most cherished dream and the same dream of the crowd out there?

Do you mean that millions of USD might be worth almost nothing in the next few years? If so, then no, I don't believe that will happen.

Will the dollar devalue over time? Absolutely.

That was not my point really, though they may (that's what many Bitcoin addicts often insist on here). It is ironic to see that even Bitcoin miners (you seem to be one of them) don't believe at heart in the glorious future so many of them are trying to make us take stock in...  Pathetic traitor you are!

Heh. I primarily mine bitcoin to generate USD... or in the hopes of one day being able to generate USD anyway. It would be nice to be able to pay my mortgage with BTC...

And I'm sure many did just that. that's why it's the end for this experiment, I guess.

This is just getting started.

Sure, until America loses their petrodollar privilege and this event escalates into WW3 and the dollar is instantly worthless. Congratulations you now have 12 million worthless papers.

Everyone knew what exactly? That bank of china will rule that bitcoin is a commodity and not a currency? In case that you missed it, it was the news from china that caused the crash not a dude selling his stack.

No, it was the sell off that caused the price decline. No sell of means no change in pricing. You have to have volume movement to impact the price.

You could totally be right that the ruling got someone scared enough to liquidate.

It is always the sell offs that cause the price to drop.  ::) The point is what causes the sell offs and in this case you don't have to look far.

That is it guys, This is the end of BTC, down to 600 usd and keep going down, there is no salvation, if you can jump out of the train do it ASAP otherwise you will crash along with it.

RIP BTC

Are you high?

Out there...

$890 dollars and keep falling

Thinking that we are passed the crisis because of the price being at 900$ is not better than thinking that bitcoin is over because the price went down to 600$

Keeps falling from what ? 700? And it's currently falling from 890 to 950 :))

He is just:

http://sieciaki.files.wordpress.com/2012/12/depositphotos_5139896-green-troll.jpg

No, that ain't trolling , it's called stupidity , and I know this guy , check his other posts ,

Fiat is falling against BTC.

$850 usd and keep falling like stone to the earth.

I told you guys this is is it, either you jump from the train now, or you will lose everithing you got.

RIP BITCOIN

I am sorry

Yeaaaa -> https://bitcointalk.org/index.php?topic=368380.0

Bitcoins is volatile in price,It could be at any price as it's based on the offer and demand as there is no backed-up value,it's now at $800-$900 after it reached much lower prices earlier this month.
anyway the recent fall is due to casascius coins being shut-down (at least temporary) right?