What the hell is happening?

Jesus Christ! Do i need to explain it again?

Look there are 4 types of Bitcoin users left:

The consumer: This is a very, very small %. They buy coins and spend them. Regardless of the price.

The bagholder: a small group of delusional idiots who keep yelling that we're about to go up, no matter how bad the market is.

These 2 groups don't control the price.
The 2 other groups do control the price and are the reason we're going down.

The early adopter: this big group of people just keeps cashing out. The smart ones did it early last year, the less smart ones have been doing it the rest of the months and even today.

The trader: by far the biggest group. This is the pump and dump you keep on seeing. Sell high, buy low. But the lows keep getting lower. Right now 270 is high. So guess what, they will take the price to 220 to buy low. They will repeat this all the way to 0.  

The group we don't have and which we need are new users. Well, after 6 years we can safely say they won't show up anymore.

Now fucking stop asking why the price is going down. 90% of the "users" of Bitcoin just use it to make short term money and don't give a shit about the technology. They will keep raping Bitcoin till it's dead.

Get the price so low that the only way is up. It just keeps going down and down and down, let's hit low already so it's not so depressing haha.

Not only that, but he was actively lending coins on Finex. 

I did the impossible and sold a third of my stash at 270 this morning.

I was almost certain that would mark the bottom but I see the selling continues.

Now the question is when to buy back?

High $100s? Double digits? Let's get this shit over with so we can send it to the moon!

Yup!  

How about you shroomsy? You cleaning up as well?

People have been cleaning up all year going short. I wonder if they will be able to stop

Price is jumping around super fast.

It will be interesting to see what our resident trolls will say when the price starts climbing again. Especially shroomie, he's not the worst but he's like a broken record. What tune will he play then?

It is actually funny looking at the finex chart today. A single 3000 dump to drag the price down 10 dollars.
A quick glance at the order book and I see that a single 3000 buy would take us right back up to 300.

Real life calls. Trolls/alts/doomers you can have the thread back.

As much as I hate NotLambchop I have to start agreeing with him.

Why don't we all get this thing down to single digits again so we can build the next bubble?

I dunno if this panic dump doesn't break the low of a week ago following stamp, I think that maybe we'll have a bottom.

You just don't know what 7 billion people are each thinking. I like the animated GIFs better.

Can you seriously imagine bitcoin not succeeding?

That's impossible, considering how much it is needed. It's time to get back at the big banks.

Listen to Max Kaiser, he knows what's up

Gox's bottom was @91.5, maybe it will bounce from there

Who cares how many $ one bitcoin is worth?

Who cares about that? Seems like you're going by the dollar standard. It's filthy fiat, forget about that. In the near future, bitcoin will take over and $ will be a thing of the past.

The price in $ is completely irrelevant.