100% agree....as I stated above.  It isn't the miners doing this.

People are freaking out about this.  Most people joined within the last two months...so they have only seen bitcoin when it was above $10...now it as if the bottom dropped out on them.

I would not mind if they were in the $5 range...I think bitcoins have been overpriced for a while.  Look at the run it has had this year.  When CNN and Foxnews puts you on, you become popular.  Unfortunately, the DDoS, hacks, massive sell in June, and recession striking the world have had an impact.  While I think bitcoin has its place...I don't think its place is $15.  I am thinking $8 or so now with MARGINAL increases...not massive ones.

100% agree with this post.

LOL.  You sold at 8 and change...it sucks but that is life when playing a market.

I sold some at 13.13 when I traded it for silver coins.  Now it looks like I made a great deal.

I am wondering how much of this has to do with people's overall debt and their feeling that if the price dips too much that they won't get anything from it?

What a day of trading...looks like it is holding steady at $9.30 USD right now on MtGOX.   From $12.33 to $9.30?  That is a BIG drop...not as bad as June...but still a big hit on confidence.

I am hoping the price drops even further...then it will cause the following chain reaction:

    1.  Prices of video cards to come back down to reality as miners quit buying more and more cards, increasing their prices
    2.  Miners to leave mining as it because more profitable to do something else (possibly purchase)...causing difficulty to slow or even decrease
    3.  Me to mine more   

I hope all the people that were on it for a quick buck leave causing the difficulty to slow its increase or even drop a few points. 

Have any of these shipped yet?  I would like to know as I wouldn't mind picking one up to assist my mining.

That is overkill of a power supply

I would also guess that you are looking at a system drawing somewhere around 900-1000w before overclock.  Overclocking will jump you to about 1200w if you push the cards hard.

I am doing some reading on these...I have a few 1x slots...but only 2 16x slots...I want to add three more cards to my mining rig.

I wouldn't necessarily blame it on the miners...the 6970 is a good card but I know a bunch of guys that are buying them to game on at the moment because of Battlefield 3 alpha.

Actually with the price drop today and the difficulty increase coming...I see some people with higher electricity costs shutting down for a week or two to let the price stabilize.

I, myself, as a single GPU miner can still mine until the priced drops below 3.70 for a bitcoin

Mine is right about 3.70 with my 420Mh/s

I will not stop mining...I am hoping all you quit for a while so I can mine more with less 

I am getting 420Mh/s now instead of 409Mh/s on guiminer...

I hope you are trustworthy as I have moved to your server.


God Bless.

I love this program...wish there were more miners in your pool so the returns are almost guaranteed.  I am now on it with my 420MH/s...I will be adding some video cards soon when I get a deal on some 6870's...so I should end up around 1GH/s within the next few weeks.

Notice the date...bitcoin was worth pennies back then.

I guess I should have said it is a TRUE private tracker...not like Demonoid.