Well it depends on what scale downtrend we're speaking of. I'd say we're going to see some green candles for a while. After that I have no idea what happens but if you're planning to buy some SR goods in the next couple of weeks then it seems like a good time to buy some coins to be spent soon

Yes. However, it concerns me that everyone is thinking that the downtrend will be pretty much a copy paste from the last big bubble. Therefore the downtrend might end earlier than people think. There seems to be increasing number of bitcoin related news lately and google trends for BITCOIN starts to take off again (http://www.google.com/trends/explore?q=bitcoin#q=bitcoin&cmpt=q).

Pic related. I hereby speculate that at least a short term rally is coming and we might see triple some serious digits again.

Edit on August 14, 2013:


Original content from July 10, 2013:

Kill the necromancer.

not exactly. The system has to be automated. You can't order your computer to go out, dig a hole and take a picture of it, can you. So when no human takes part of the mining process, blocks could still be mined and the system is running. The difficulty would just have to decrease low enough for computers to solve the problems on their own. However, when some person decides to assist its computer then suddenly it gains a vast advantage over its competitors.

edit:
Basically we could have CAPTCHAs included in the mining process but this can't be done (at least not easily) because: who would be the authority to validate your solution?

If anyone doesn't know the Conway's Game of Life yet, watch this: http://coinmarketcap.com/

The idea would be using reversing a given state in game of life as proof of work.
LIFE(initial_state) -> new_state // this is fairly fast
new_state -> initial_state // this gets really complex

Yes, there are problems: Gardens of Eden
And I personally haven't figured out a solution to these problems BUT even if the game of life is not suitable for a CC, the reason why I'm introducing this approach is to get us closer to a CC that somehow embeds Proof of Human Work in its PoW. A hypothesis is that for some particular problems a human mind combined with computing power can generate PoWs faster than a supercomputer on its own.

For example, take a look at Fold It (http://www.youtube.com/watch?v=bo99JjnfdA8)
This is a live example of a problem where humans are vastly better at solving problems than computers on their own.

So, my idea is to come up with a CC that has its PoW made so that human assistance is required, a human entity has to manually participate in the process of mining blocks.

Anyway, who doesn't know yet, this site gives a quick overview of all the CCs: http://coinmarketcap.com/
I wish we could see a bit longer period of time and volume bars too, then it would rock.

Obviously BTC is not the first and the last successful CC we see. Therefore I frequently select a bunch of cool alt coins to invest in. I did this with LTC and it brought me 1200% ROI. I have also invested in PPC and NMC for their innovation.

However, seems that NVC is quite similar to PPC and therefore competing? Why would you prefer PPC over NVC?

a necromancer! stop raising undead threads!

I hate to say it but bitcoin will always have one place where it's useful and that keeps the prices above zero.

Also, I'd like to point out that big corporations are really slow at taking decisions. What is more, development of new programmatic structures to introduce bitcoin protocol can take 3-6 months. It's just the third month since the bubble thingy which possibly could have attracted new interested parties. Give it a time of 3 more months to see new companies accepting bitcoin.

tldr;
is it something about Swarm Intelligence?

selll sell selll
I'm going to buy in next week so please make me a nice price

Actually this whole crash thing had a perfect timing because I have ran out of pocket-coins and will buy some more soon to be casually spent during the next 6 months.

This picture reminds me my 300 bitcoins
Also this is the reason I don't sell, I have them buried underground and only a treasure map can get me there. Too bad it's tattood on my butt and I'm not going to use a mirror to follow it

Litcoin will also crash down to 2$ per LTC. In fact, all the CCs crash down to 2$

I have one idea. What if everyone holding bitcoins started to buy ASICs and obviously paid with bitcoins? This means that the ASIC manufacturers probably sold the bitcoins in exchanges which made the price of bitcoin crash. When ASICs are delivered the buyers want their ROI and the price increases again.

As a bull I must say it sure is rainy these days.. However, because I'm a long-term bull I'm already moving fiat to Bitstamp and expect to buy cheap coins during the next weeks. I will panic buy at 50$ but because everyone thinks so I'm probably going to start buying at 70$. Last time I bought BTC the price just got to 30$ and it made me a nice profit in the next months especially because I gradually spent the coins on pills...I mean vitamins instead of holding them.

First of all, wtf is CC?

Now, what seems interesting is that LTC has gone UP UP UP while BTC went DOWN DOWN DOWN. Usually LTC has been going the same direction as BTC but now it's different. Anyone knows why this could be the case?

Since I invested in LTC I've been in an opinion that whatever the eventual real price of BTC is, LTC's price has to be 4x lower (assuming they are both mature and everyone knows them).

So let's say BTC is currently overrated and its real value is 50$ per bitcoin. In that case LTC is still undervalued because 50/4 =12.5. This means that LTC has to go UP while BTC has to go down. Now one could say that there are other alt coins that consume some of the value but then again there aren't many to be taken seriously currently.

Does the tax only apply when converting from coins to fiat? In that case I would never convert the coins to fiat but instead buy my villas directly with bitcoins.

A rule of thumb has been to buy when the price has more or less stabilized but I've made quite a fortune by just buying whenever I had some extra euros to spend. Bitcoin has a tendency to capture new heights periodically. One just needs to be patient and willing to lose money in short term. If you are having trouble losing money in short term try playing Satoshi Dice