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Title: Why is Bitcoin Price so low? Post by: Bitcoin-hotep on February 14, 2014, 05:22:29 AM It was 900 like 2 weeks ago
Title: Re: Why is Bitcoin Price so low? Post by: seriouscoin on February 14, 2014, 05:23:59 AM It was 900 like 2 weeks ago Stop making thread without reading you lazy ass. Title: Re: Why is Bitcoin Price so low? Post by: raveldoni on February 14, 2014, 05:24:56 AM Read this and you will know.
https://bitcointalk.org/index.php?topic=458074.0 Title: Re: Why is Bitcoin Price so low? Post by: Bitcoin-hotep on February 14, 2014, 05:58:08 AM So Mt Gox is basically gone?
Title: Re: Why is Bitcoin Price so low? Post by: grendel25 on February 14, 2014, 06:10:27 AM Read this and you will know. https://bitcointalk.org/index.php?topic=458074.0 That thread only answers the question in a shock factor way and doesn't really explain practical basics behind BTC's recent drop. If there was a practical answer it was buried in a lot of emotional diatribe. Here's the answer as plainly as I can put it: Mt Gox froze the trade of BTC only allowing people to sell their BTC for cash resulting in more supply of bitcoin to the open market by forcing a mass liquidation of bitcoin to fiat currency. The failure of Mt Gox encouraged FUD and many of those using Mt Gox are less likely to return to bitcoin OR it will take a little bit of time for them to transfer funds back into bitcoin on some other exchange. Mt Gox's irresponsible actions would be detrimental only if other large exchanges failed. But, it does prove how devastating it can be when a bank/exchange fails. It's history repeating itself on a smaller scale. It has been a deep cut in the collective community soul and will be interesting to see how the bitcoin community reacts. Okay, I've gone off into my own version of emotional diatribe so I'll just finish with: I think it could be argued that Mt Gox was criminally negligent in this case. Title: Re: Why is Bitcoin Price so low? Post by: Bitcoin-hotep on February 14, 2014, 06:28:05 AM Read this and you will know. https://bitcointalk.org/index.php?topic=458074.0 That thread only answers the question in a shock factor way and doesn't really explain practical basics behind BTC's recent drop. If there was a practical answer it was buried in a lot of emotional diatribe. Here's the answer as plainly as I can put it: Mt Gox froze the trade of BTC only allowing people to sell their BTC for cash resulting in more supply of bitcoin to the open market by forcing a mass liquidation of bitcoin to fiat currency. The failure of Mt Gox encouraged FUD and many of those using Mt Gox are less likely to return to bitcoin OR it will take a little bit of time for them to transfer funds back into bitcoin on some other exchange. Mt Gox's irresponsible actions would be detrimental only if other large exchanges failed. But, it does prove how devastating it can be when a bank/exchange fails. It's history repeating itself on a smaller scale. It has been a deep cut in the collective community soul and will be interesting to see how the bitcoin community reacts. Okay, I've gone off into my own version of emotional diatribe so I'll just finish with: I think it could be argued that Mt Gox was criminally negligent in this case. Hearing it that way is much more helpful I think Bitcoin will bounce back as long as this website we are on still exists When it gets to like 200 no one will be able to resist buying more Title: Re: Why is Bitcoin Price so low? Post by: Bitcoin-hotep on February 14, 2014, 06:28:40 AM Does anyone else think Devcoin seems promising? It has goals not just hopes
Title: Re: Why is Bitcoin Price so low? Post by: keithers on February 14, 2014, 06:35:01 AM Bad news rolling out like a steamroller lately
Title: Re: Why is Bitcoin Price so low? Post by: Ekaros on February 14, 2014, 07:08:22 AM Why bitcoin is still so high?
Title: Re: Why is Bitcoin Price so low? Post by: keithers on February 14, 2014, 06:10:15 PM Why bitcoin is still so high? Bitcoin is proving itself to be super resilient :) I am impressed with how it continuously bounces back from all the bad news. The news we have been facing over the past few weeks would have pushed bitcoin under $50 back in 2013 probably Title: Re: Why is Bitcoin Price so low? Post by: Bitcoin-hotep on February 14, 2014, 07:44:21 PM Mt. Gox is the only one that is gone right?
Title: Re: Why is Bitcoin Price so low? Post by: keithers on February 14, 2014, 09:43:21 PM Why bitcoin is still so high? Bitcoin is proving itself to be super resilient :) I am impressed with how it continuously bounces back from all the bad news. The news we have been facing over the past few weeks would have pushed bitcoin under $50 back in 2013 probably People are more privy to its potential. Some of those people have very deep pockets. It's in their best interest to both buy as many cheap coins as they can, and to protect the price. Thats why I really don't see us going much lower. Bitcoin is in a different place than it was last year. Anything is possible, as there are many coins out there that could be dumped all at once, and we've seen that recently. But there is much more confidence about bitcoin's potential than a year ago. People will buy up anything under 500 unless something catastrophic happens. "Catastrophic" is a relative term in the bitcoin world. Lol. To many of the people on this forum, bitcoin value going down $40 is catastrophic. haha Title: Re: Why is Bitcoin Price so low? Post by: Hyena on February 14, 2014, 10:16:30 PM it's so easy to troll the speculation forum
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