Really disappointing to see but it looks like we are back on the slippery slope that had us on decline for the past two years. I suspect we are not going back up a little at least until the halving.
Could be a smart idea to sell now and buy some back in 6 months at about half the current price.

A lot of blood in the land of bitcoin right now and the slaughter continues.

Yeah keep on hating guys. Keep telling me how wrong I was and how much profits you made.

I'm not crashing the price, I'm warning people for exactly what's happening right now. Feel free to ignore me and buy more $500 coins.

It's already crashing rapidly.. boy who would have expected that?...I highly doubt the auction can possibly have any upward effect,  if anything it will accelerate this free fall.

Nope we didn't or aren't going to make those 5 digits.

Poor panic buyers. Reality is coming down on them quite hard right now.

Side effects? You see that dump going on right now? That's one...

Also the network already starts to stagnate. I've been waiting for 4 hours on one of my transactions now. As I've been warning before. Bitcoin is not ready for more adoption.

This will only scare people away from bitcoin because pumping it like this when it's not ready will only cause disaster in both the network and people's finances.

When things look too good to be true they probably are... too good to be true.
I'll repeat it again. The protocol does not scale to adoption levels that would have this price sustainable.  Until that big issue is solved all higher values of bitcoin are a dangerous area to invest.

The higher they climb, the harder they fall. Specially when you're climbing on a broken foundation!

Actually no. Those insane prices are not possible. At least not sustainable. The protocol doesn't support the adoption level that is required to sustain prices like 1k.

Who would have thought that.
Any reason for this? I'm guessing there was no reason for it to go up in the first place. In other words pump and dump

Let's hope so, i consider it a serious roadblock right now. There are some interesting proposals but i'd be unable to point to one as being the best.

@molecular You're absolutely right there.

Let's wait and see where this goes alright? There's no reason for the price to be this high at the moment, adoption is too small and there are plenty of technical issues we have to overcome before bitcoin can really grow.

I've heard it before i think, let's review...

Oh cut it out with the lies already. 'Viral'....

See things for what they are, take of those pink glasses.

Bitcoin transactions on average account for less than 100 million usd value per day. Just visa alone has more than 10 billion usd value in transactions per day. That's several orders of magnitude less and it's not growing (yes the last months have a slight increase, but nothing significant yet)

Overall of course this is something impressive already that we can all be proud of, but let's stay real and not claim that it's going viral and taking over markets when it's not even close to attempting to do so on a small scale.

@mods, thanks for censoring me again. Can't say anything skeptical or even realistic about bitcoin here or else...

I mean.. TO THE MOON!

@Dafar Yes that's what i'm referring to here. I don't hate bitcoin, i recognize it's not perfect and it needs a lot of work on the protocol before it can grow to become what many of us have envisioned a long time ago.

@brg444 We've all seen how well that scaling proposal went last time, and that's the drama caused when there is minimal adoption. Can you imagine the utter economic devastation a hard fork will cause when there is considerable more adoption?
These 'future' issues should be addressed asap if you ask me.

@NeuroticFish True dat.

@Fiat_Hodler What's in a name? I'm here for an idea that can benefit many people in their everyday lives, not to make a quick buck. I did what i had to do at that time.

@NeuroticFish We all know why that happened. We all got goxed by willy bot. We don't want bubbles right? We want a useful tool in a healthy sustainable independent ecosystem i think. At least, that's why i got interested in bitcoin in the first place, at the time many more seemed to share that vision.

@brg444 It seems you have a very different vision of bitcoin than the people early involved, including Satoshi. Maybe you're right and that dream went down the drain a long time ago.

What does stating facts and serious issues have to do with trolling? You want to deny that a system providing 7tps to a global economy is not a serious problem to the core idea?

Denial seems to be extremely persistent with some people here.

I'm telling people to be careful. TROLL ALERT!!
Right, who's the scammer/troll now?

It's scary that people will just ignore fundamental flaws when they see the price go up a bit. That's setting up for disaster in your finances.

I'd like to remind everyone to stay calm in these seemingly 'positive' times, most of the indicators including complex wave analysis show this trend is only short lasting and will drop down to previous levels (maybe up 5-15%) soon.

It's important to remember that bitcoin DOES NOT SCALE. Roger Ver's insane predictions may work in an ideal environment where the bitcoin protocol has been perfected. This has not happened in real life and probably will never happen because of the lack of development and technical obstacles. Bitcoin does not scale to the levels where it's reasonable value is around current price level.

Add to that several other protocol flaws you can be sure a drop is imminent when people start to realize their investment position is utterly weak when holding bitcoin.

Don't invest what you can't afford to lose.

Here's a more accurate model of what's going on...

The longer the bitcoin network exists the weaker it's security becomes. This is built into the protocol.

Sorry I have to add to that before the permabulls come out.
The protocol encourages centralization.
The protocol doesn't push the price up, instead it pushes miners out.
The protocol uses weak algorithms that will be broken within a few years.

If anything it's sell time now. 24 hour low is in. Prepare for a harsh drop towards 230-240.