Bitcoin Forum

Is this the end?

God I hope it isn't the end, my tv shows arent back on the air yet. 

Don't worry, even if it's the end of bitcoin, the bitcoin drama will continue for quite a while yet.

I agree, it should stop dropping around $4, as that is the cost for most people to produce them.

I do not think it was lowly miners causing the price to drop. It was people with massive amounts of
money that bought BTC or cheaply bought BTC (early adopters) that decided to just dump it all.

Miners do not all sell 15000K at once.. in a one hour period.

Larger players wanted out.

Bitcoin was a very slow and gradual fall. Buyers just dried up. They do not think bitcoins are worth that much obviously. I think it is good that bitcoins are cheap, we can finally start to use them instead of hoarding them.

So, assuming the price levels out, this would be the best time to start buying :-)

Haha, you weren't around when an 25k wall at 6$ got smashed like it was nothing? :D

One has to wonder why the early adopters and larger players are cashing out? Why are they wanting out? Do they know something the rest of us don't?

They don't want to take any more risk. Since BTC has an low chance of going back up, they think that this "gambling" should come to an end.

It will bounce back up, you'll see.

The real question is why would anyone with a lot of bitcoins still be in.

It already did that. Now it will bounce back down, you'll see. Then back up....

No. Stock markets emerged because there was a need to get enough capital together to  build or do something bigger than one person could afford, like a ship or a railroad. Commodity markets emerged so that farmers who wanted to know the price of their crops before planting them could buy options to protect themselves against price drops, and, on the other side. 

People with lots of bitcoins would still be in if they expect the future price to be higher than today.  Watch for mass panic selling if those with substantial bitcoin holdings independently decide 'this is as good as it gets' and decide to bail out while their bit fortunes are still worth something. 

No matter how libertarian one's views are (and how much they detest fiat currencies), I suspect they would sell up now if they thought bitcoins would continue their slide towards parity with the US dollar.  They can always buy more later on and enjoy even more freedom.

If $5 USD is the  Bitcoin Apocalypse, we're very close. $5.17 and dropping.

We're there. $4.82 now.

15 months ago I sure wasn't worried about bitcoin crashing back to $5, pretty strange year.

I'm riding the bitcopalypse all the way down to zero with my investments in HW and BTC near the top. Winning or nuthin.

http://a1.sphotos.ak.fbcdn.net/hphotos-ak-ash4/183212_10150102593064075_711764074_6282883_7329330_n.jpg

BTW: What comes after "resignation" in the bubble cycle?

same here i'm going down with the ship... i could sell now and make a profit since i bought at 0.75$ but... theirs no honer in that .... i believe in bitcoin and so i must go down with the ship.

^ Nothing changes.

There are so many threads gravedigged today, if people wants to sell their precious bitcoins let them do it...

These old threads are fun to read! I wonder how many people "got out of bitcoin" during these "crashes" never to return!

not sure if i want to cry or laugh  :D



adam, you have more then one castle by now?  ;D

So funny to read this now.
The doomsday prophets didn't change a bit.

Oh they return, they all do.

They just buy after the price has gone up 10x again and end up with 1/10th the original number of coins. These are the people who measure wealth in terms of the amount of USD they hold, not in terms of the amount of BTC they control.

I know a guy who sold at 5 saying bitcoin is dead, then bought at 800 two years later.
May be faiiiiling did the same ?

always a nice read these old threads. now its 505$ instead of 5$ :D