Holy jesus, so people did make out. Can you verify that these are legit bitcoins that you can move out to an external wallet?

Maybe it was similar to that stock market crash where someone accidently added in an extra decimal or something, crashing the market short term.

I just wonder if anybody who had orders in actually received bitcoins.

Personally you gotta be crazy to do anything with mt. gox.

Can anyone confirm if they actually bought bitcoins for less than $5.00? in this huge selloff?

Holy jesus, I would totally but at less than a $1.00. What is going on here, major hacking going on?

I agree with the original poster, there probably is definietly some kind of correlation between difficulty and the price of bitcoin. I bet if you could graph it you would prove his theory pretty accurately.

I personally would take into account the cost of making a bitcoin vs buying it. I actually considered all of this when I thought of buying a mining rig.

difficutly will also match price because if there is any profit to be made in running your mining rig, people will do so until the cost of making a bitcoin equals the price of the bitcoin. Simple economics 101 here.

I do not own any bitcoin, but if I owned any significant amount i personally would be worried about it getting hacked.

With cash stolen I guess you get can the police or FBI involoved. If you have your bitcoins stolen, can you get any help from the state or federal government?

You can bet they are trying to profit with inside information if they can. Why wouldn't they? They are not subject to any laws or insider trading rules like stock exchanges right?

Jeez, the idea of making thousands of dollars by just setting  up a computer with a few video cards has even made it to as far as russia.

These prices will change everything, mining will become pretty unprofitable. Will be interesting to see what all these miners do with their rigs etc. at these price levels.

But you have to understand that for the future of bitcoin it is better to stabalize at a price level where the bitcoin can actually be distributed to a large number of people. IT is better if the price rises slowly, and speculators do not bid it up to the point where it is too risky to hold. At a stable price level that increases in value over time, I will definitely hold bitcoins as a hedge against inflation etc. but only at a fair price that has shown to be stable over a number of weeks/months.

You guys realize that we have a mojor crash here, we have lost about 30% drop from the norms of last week. This is a major crash coming, and your taking any risk buying even at the low price of $14.

This is just amazing, I am happy my money is tied up in dwolla, so I am not tempted to speculate at the new low here. I think it will stabalize in the single digits.

I am sure people are losing thosands of dollars buying at these lows thinking it will bounce back up to $20.

I'm dying here in anticipation and keep checking the price and it seems someone will not let it break the $15 barrier. I mean it gets so darn close, $15.0011. Who and why is it being so defended at the $15 mark.

I should be doing work now, but I want it to finally break through. Let it fall people, the drop is futile!

That chart is scary similar. I think that is exactly what happened with the bitcoin, the reason it happened so fast is because it is all digital and the bitcoin has no substance to it really.

your attempts are futile holding the market above $15.00, let it fall below into the $14 barrier!

The reason why it will cause loss of interest is that mining is not profitable anymore. I think this is a big part of the whole bitcoin craze. It will still have some interest, but it will lose alot.

Yes It is very interesting times, I can't help  but keep checking the price of the bitcoin. I must admit, part of me wants it to go lower because I missed the boat on this one.

With the current drop into the $15 range, and nobody seems to want to pick it back up to $20. I think most people will not even take the risk at buying it at these lower prices with the hope it will bounce back up to its $20 dollar support.

Someone must have kept it inflated at the $20 dollar level. I have no idea why someone has done that and spent all the money keeping it at that level. I knew that would not hold as nobody has that deep pockets.

A fair and stable price level would be around $8.00.

I am surprised the forum is pretty silent about this latest price drop. This signals many things coming to and end especially the mining. This whole thing may lose much interest soon.

IS the difficulty rate increasing much faster than expected? Is this because of all the recent interest?

Obviously not, everybody thinks they struck gold with their mining rigs and want to become millionares.

I've seen a similar thread not too long ago about someone posting how their bitcoins were moved out of mt. gox. He had pictures any everything.

I think I will stay away from mt. gox.

Seems like typical human psychology here. Probably similar to the gold rushes back in the 18th centuries. I guess when the value started to get higher everybody became aware of it. News articles were written, more people learned about it. Personally, I got taken into the craziness when I saw how simple it was to get coins and how much they were exploding in value. This was probably very similar to the internet .com bubble.
 I looked into building a rig, but I was smart enough to read carefully about it and realize it was really not worth it. I even considered buying some bitcoin at the higher price because it seemed it could go much higher.

Now it has got to a point that mining is quickly becoming unprofitable. People are starting to realize that these coins do not have a high value and the explosive growth will not last.

One thing I realized is that it is very difficult to make easy money, and if it is easy it will not last. My predicition is the price will fall back to around $5-$11 dollars, and it will grow steady from that point. At that price level it is an OK investment, giving the high risk of bitcoin being worthless.

 In the USA the dollar is a much more stable currency and it is far easily used in this country with much less exchange risk. The only thing bitcoin will be used for in the USA is the black market.