But what I see are traders who are short selling the coins  that caused the other group of trader are buying on margins to hit their stop losses. We haven't discounted the fact that all these could be the result of margin trading.

Fact is i don't  think the drop is due to panic selling. People that i know who are into bitcoin that bought in the 500 range are still holding. Why sell for a loss?

Well...... all the while when price was dropping, we could still see the hash rate that moves steadily up on an increasing trend. But this time round it is different. You could clearly see the dip. Check out the blockchain info stats.

Question is have we finally reached the point where miners will no longer be able to sustain their operation?

No the first bulb will always maintain the true value. The rest of those that comes out from the first are the ones which don't hold any value. Eventually people will realize that.

No you should reserve the toast only when it reaches 100.  Come on whales.. you guys need to drive the price down further so that I can buy it even cheaper. Is that all you've got?

No doubt on your statement.... and who says they were dead anyway? Thing is people would do anything to believe and convince themselves everything is okay just to lift up the mood and spirit.

But what if you are wrong and someday you will have to buy back the amount that you sold off at much higher price. The point that I want to state is that we can never so accurately predict what is going to happen next.

Instead of trying to turn this into a joke, I would like to be more reserved for those who had faith in bitcoin. Nobody would want this to happen in the first place and who would have thought it would be so drastic. I had the feeling that it will end up like today but not as bad.

Anything of particular interest? For me, it's the same like what we saw a week ago. If you are going highlight a sudden turnaround, I'm all ears. Otherwise, if you are going to tell me there is going to be another drop, I've seen enough.

Everytime you buy bitcoin you pay a fee. Similarly when you sell to convert to fiat, you pay fees as well. Exchangers earn from there and business starts booming. Also when bitcoin proves to become a useful system, a lot of people will want to use it. This and other factor creates demand, by which price goes up. These are the driving factors.

I don't know why there were so many negative sentiments when the idea was proposed. We definitely need to look forward and plan for the future. No way bitcoin is going to move ahead with its current state. I'm all for the change.

I hold on to my coins because if I sell, that would immediately translate to a loss. If I hang on to it, there is still hope left. So I would roll the dice and wait for the outcome. There might be recovery in store.

My definition of early adopters are those who managed to buy at less than $1 per pop. Even at current price and with 2000, I will only get about 10 btc. I mean if you ask early adopters what they have are mostly like above 1000btc. Those are true early adopters

Not that I condone black market activities, but are we so desperate that the only way to move forward in bitcoin is to rely on silkroad. There are far better more legitimate means to start off.

Whether it is true or not, let's just wait 2 more days. I'm still holding onto my stash of bitcoin.

The moment i bought bitcoin, I'm already fully prepared for all these. That was the reason why i did not gamble with everything I have or put in the money I can't afford to lose. And because of that I'll just continue to hold on to it.

Now when read back these old threads, certain predictions indeed could be true. I mean it's not simply a wild guess but a real graph plot that points to potential btc price.

I agree. Traders are only there to make money and they have little regard if their actions have an impact towards the future of bitcoin. Sadly that's the way on how it goes.

However, as what I believe, fundamentals at the end will rule the day. Cheap coins at such low price is just too attractive considering the technology of bitcoin. Miners who get new coins will be very much unwilling to sell as they would be selling at a loss. So they would rather keep them. When supply is low and at such low price, this will drive the price upwards.  

Sub 200? You do know there is a strong buying support at that price do you? A lot of buyers (myself, one of them) will be more than willing to throw whatever we have to get it at that bargain price.

And this thread was revived after more than 3 years lying dormant and coincidentally today is one of the biggest price drop in bitcoin history. And seriously, they need that long to destroy bitcoin? I always have the feeling corporations, banks, huge financial institutions have the means to destroy the coin so if we survive this round of onslaught, we should rise up stronger than before.  

They are the one maintaining the network so why blame them? If for any reason bitcoin fails, it is purely the design and fault in the system that allow people to manipulate.