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Title: BTC Price is crashing today. Post by: yeponlyone on September 18, 2014, 01:43:16 PM Anybody care to elaborate why?
Title: Re: BTC Price is crashing today. Post by: ethought on September 18, 2014, 01:58:35 PM Anybody care to elaborate why? Possibly a large sell off? I can see no direct reason other than possibly there is someone or some group cashing out today. Title: Re: BTC Price is crashing today. Post by: oceans on September 18, 2014, 02:03:14 PM Has to be someone cashing out, it's the only reason I can think of that things would begin to drop today as there does not seem to be any other reason that I can see.
Title: Re: BTC Price is crashing today. Post by: Sevvero on September 18, 2014, 02:03:45 PM Anybody care to elaborate why? This is why:https://www.youtube.com/watch?v=_-TLA3j-ic4 Title: Re: BTC Price is crashing today. Post by: robmob on September 18, 2014, 02:09:10 PM I believe the price continues to fall because the real investors are seeing Bitcoin in the news 24/7 but it is to do with drugs and hacking and not something to benefit them. I personally know a number of people who cashed out after the whole Roger episode .
Title: Re: BTC Price is crashing today. Post by: yeponlyone on September 18, 2014, 02:21:57 PM I believe the price continues to fall because the real investors are seeing Bitcoin in the news 24/7 but it is to do with drugs and hacking and not something to benefit them. I personally know a number of people who cashed out after the whole Roger episode . Rodger? You mean the hacker of the satoshi email adress? Title: Re: BTC Price is crashing today. Post by: hotsaucee on September 18, 2014, 02:29:25 PM You won't find rational answers here I guarantee that much... In fact there are many possible reasons but there has always been volatility in the price. No need to panic
Title: Re: BTC Price is crashing today. Post by: georgekappa on September 18, 2014, 02:30:12 PM Someone's shorting it
http://www.reddit.com/r/Bitcoin/comments/2grhmt/heading_to_400_how_are_those_shorts_coming_in/ Title: Re: BTC Price is crashing today. Post by: Blinken on September 18, 2014, 02:34:40 PM Anybody care to elaborate why? This is why:https://www.youtube.com/watch?v=_-TLA3j-ic4 Thats a pretty interesting video. Just to summarize this for people who don't want to listen to this guy's 15 minutes rambling lecture: At current rates, the bitcoins generated by miners are worth $650 million per year. So, that means for the price to be stable, that much money must come into the Bitcoin ecosystem. If less buying interest than this occurs, then the price will drop (and vice versa). Title: Re: BTC Price is crashing today. Post by: hotsaucee on September 18, 2014, 02:35:56 PM Anybody care to elaborate why? This is why:https://www.youtube.com/watch?v=_-TLA3j-ic4 Thats a pretty interesting video. Just to summarize this for people who don't want to listen to this guy's 15 minutes rambling lecture: At current rates, the bitcoins generated by miners are worth $650 million per year. So, that means for the price to be stable, that much money must come into the Bitcoin ecosystem. If less buying interest than this occurs, then the price will drop (and vice versa). Title: Re: BTC Price is crashing today. Post by: var53 on September 18, 2014, 02:59:31 PM Anybody care to elaborate why? This is why:https://www.youtube.com/watch?v=_-TLA3j-ic4 Thats a pretty interesting video. Just to summarize this for people who don't want to listen to this guy's 15 minutes rambling lecture: At current rates, the bitcoins generated by miners are worth $650 million per year. So, that means for the price to be stable, that much money must come into the Bitcoin ecosystem. If less buying interest than this occurs, then the price will drop (and vice versa). Thanks for the video summary. I'm one of the people who could not face listening to the 15 minutes rambling lecture. Title: Re: BTC Price is crashing today. Post by: adamstgBit on September 18, 2014, 03:02:59 PM that video...
its failed speculations Title: Re: BTC Price is crashing today. Post by: ThatDGuy on September 18, 2014, 03:26:19 PM I believe the price continues to fall because the real investors are seeing Bitcoin in the news 24/7 but it is to do with drugs and hacking and not something to benefit them. I personally know a number of people who cashed out after the whole Roger episode . Bitcoin news only having to do with drugs? Hacking? Why are they watching the news from 2011-2013?? Title: Re: BTC Price is crashing today. Post by: Beliathon on September 18, 2014, 03:49:37 PM I believe the price continues to fall because the real investors are seeing Bitcoin in the news 24/7 but it is to do with drugs and hacking and not something to benefit them. I personally know a number of people who cashed out after the whole Roger episode . Bitcoin news only having to do with drugs? Hacking? Why are they watching the news from 2011-2013?? Title: Re: BTC Price is crashing today. Post by: srgkrgkj on September 18, 2014, 03:51:42 PM current price $430 !!!!
Title: Re: BTC Price is crashing today. Post by: cypherdoc on September 18, 2014, 03:54:17 PM hodl
Title: Re: BTC Price is crashing today. Post by: srgkrgkj on September 18, 2014, 03:56:59 PM hodl or dmup :P
Title: Re: BTC Price is crashing today. Post by: Torque on September 18, 2014, 03:57:57 PM hodl and BUY BUY BUY
Title: Re: BTC Price is crashing today. Post by: cozk on September 18, 2014, 04:24:23 PM Anybody care to elaborate why? This is why:https://www.youtube.com/watch?v=_-TLA3j-ic4 Did not know Joaquin phoenix was a btc expert. Good to know. Title: Re: BTC Price is crashing today. Post by: Hfertig on September 18, 2014, 04:28:49 PM Someone's shorting it http://www.reddit.com/r/Bitcoin/comments/2grhmt/heading_to_400_how_are_those_shorts_coming_in/ People short bitcoins all the time. Some where even doing it in November last year. Not the reason for the drop. There are enough other reasons why we are going down... Title: Re: BTC Price is crashing today. Post by: piramida on September 18, 2014, 04:36:56 PM Anybody care to elaborate why? This is why:https://www.youtube.com/watch?v=_-TLA3j-ic4 Thats a pretty interesting video. Just to summarize this for people who don't want to listen to this guy's 15 minutes rambling lecture: At current rates, the bitcoins generated by miners are worth $650 million per year. So, that means for the price to be stable, that much money must come into the Bitcoin ecosystem. If less buying interest than this occurs, then the price will drop (and vice versa). Yeah the same argument of "omg no enough money coming in" from 2011. It is based on an assumption that 100% of mined coins are sold on the market immediately and nobody ever use these dollars to buy coins again. For somebody with such a low belief in bitcoin, these miner guys sure did invest alot of millions in the infrastructure :) Title: Re: BTC Price is crashing today. Post by: Blinken on September 18, 2014, 04:51:00 PM Anybody care to elaborate why? This is why:https://www.youtube.com/watch?v=_-TLA3j-ic4 Thats a pretty interesting video. Just to summarize this for people who don't want to listen to this guy's 15 minutes rambling lecture: At current rates, the bitcoins generated by miners are worth $650 million per year. So, that means for the price to be stable, that much money must come into the Bitcoin ecosystem. If less buying interest than this occurs, then the price will drop (and vice versa). Yeah the same argument of "omg no enough money coming in" from 2011. It is based on an assumption that 100% of mined coins are sold on the market immediately and nobody ever use these dollars to buy coins again. For somebody with such a low belief in bitcoin, these miner guys sure did invest alot of millions in the infrastructure :) Yeah, just as a point of interest the video has some still shots in of giant mining farms, and I mean GIANT. Warehouses full of cheap PCs all wired together, its pretty incredible. Title: Re: BTC Price is crashing today. Post by: Dissonance on September 18, 2014, 04:57:01 PM Just like in the stock market people like to attribute reasons why a price moves up or down. The truth is that an asset's price is based on its supply and demand. Right now there are more sellers then buyers. Why that is ? Anyone's guess but its probabaly being driven by mometum. The news over the last few months has been preety good for bitcoin with tons of new startups. , however, the huge 10X runup late last year has led to a protracted correction and alot of speculators selling. Once the sellers have been exhusted the buyers will overwhelm the sellers and the momentum will swing the other way. There really doesn't have to be a reason other then that.
Title: Re: BTC Price is crashing today. Post by: zeroday on September 18, 2014, 06:37:32 PM Just like in the stock market people like to attribute reasons why a price moves up or down. The truth is that an asset's price is based on its supply and demand. Right now there are more sellers then buyers. Why that is ? Anyone's guess but its probabaly being driven by mometum. The news over the last few months has been preety good for bitcoin with tons of new startups. , however, the huge 10X runup late last year has led to a protracted correction and alot of speculators selling. Once the sellers have been exhusted the buyers will overwhelm the sellers and the momentum will swing the other way. There really doesn't have to be a reason other then that. These shakes are good for bitcoin economy. New people have nice opportunity to join and that makes BTC distribution more even. Only the greedy get-rich-quick guys suffer from these cyclic crashes. Title: Re: BTC Price is crashing today. Post by: Sevvero on September 18, 2014, 06:43:07 PM Just like in the stock market people like to attribute reasons why a price moves up or down. The truth is that an asset's price is based on its supply and demand. Right now there are more sellers then buyers. Why that is ? Anyone's guess but its probabaly being driven by mometum. The news over the last few months has been preety good for bitcoin with tons of new startups. , however, the huge 10X runup late last year has led to a protracted correction and alot of speculators selling. Once the sellers have been exhusted the buyers will overwhelm the sellers and the momentum will swing the other way. There really doesn't have to be a reason other then that. These shakes are good for bitcoin economy. New people have nice opportunity to join and that makes BTC distribution more even. Only the greedy get-rich-quick guys suffer from these cyclic crashes. RETARD ALERT! RETARD ALERT! DELUDED OSTRICH, GET YOUR HEAD OUT OF THE SAND! Title: Re: BTC Price is crashing today. Post by: kokojie on September 18, 2014, 07:03:15 PM Anybody care to elaborate why? Due to $1.5M PoW mining expense every single day, Bitcoin price will naturally drop when there's less than $1.5M capital inflow into the eco-system per day. Bitcoin owners are basically charged a 10% tax by PoW mining network every single year, unless there's capital inflow to subsidize this tax. So far, Bitcoin owners has been very lucky, since in the past there indeed was huge amount of capital inflow to make the PoW mining expense seem insignificant. But this year might be the first time Bitcoin owners is feeling the expense of PoW mining. |