I think that your thinking isn't right. I think that if the majority of the miners thought as cbeast, Bitcoin would have been a success right now. More people like him is needed. He and others that think like him doesn't need to mine with very expensive rigs, but lets say if everyone with cbeast thinking mined with 0,2-2 Ghash/s Bitcoin no matter what price in fiat currency, Bitcoin would have build a very strong foundation. This is what Bitcoin is all about, not greedy miners that want fiat currency asap, and are selling at the exchanges as soon as they can. I am telling you, the way to kill the fiat lovers is by doing what they are doing to the Bitcoin Economy, make them make less in fiat/USD. The good part is that Bitcoin is in a high inflation environment so this is plausible. Just sell wait for the inflation to kick in and buy back more cheaper bitcoins. By doing this you have also f***ed the fiat lovers.

So you are (almost) fully invested in BTC? If so, what do you think of the last months downturn? When will it return up?

If you google it you will see that most people quote different months. That is a LOL

Have you lost fiat money on Bitcoins?

So December 2012 is a accurate estimation then.

Is there any exact date or even month when this should happen? If I have understood it correctly, it should happen at the end of next year (Dec 2012?), has anyone calculated on a more accurate date?

Everything worked out fine. I have my money on Mt.Gox now and Bitcoinica have raised its limit at Mt.Gox as well.

Cheers

Not even that is working for me.

I have now a email response from the Bitcoinca owner. Lets see if we can sort this out. I will keep everyone that has money there updated.

Emailed Mark Karpeles to see what is happening. I hope this isn't a new scammer. Anyone else with any info?

Still having withdrawal problems, does anyone else have that as well?

Can I get the money in bitcoins instead as others have?

How small? Do you have any idea? Not even 100 dollars is working. Also tested 50 dollars.

I want to make a withdrawal of 1000 dollars with Mt.gox-code, but it is not working. Have a look at it, I have also sent you an email.

Very short time period maybe, but don't bet on it. It is much more likely to continue the down trend.

30 000 more bitcoins on the bid side down to 4 dollars, under that it looks very very empty. Are we there this weekend?

Read his post again. The late adopters are in for it for the money, FIAT money. Not for Bitcoin in the long term. The boom in May and June came to fast and Bitcoin is still in a high inflation environment. If you guys don't see all the signs you will feel it in the BTC pocket all the way down to at least 3-4 dollars, and even that level is starting to look very high. If I can make a guess, I think after all the negative that has happened lately at least 500 000 bitcoins (and their owners) wants out of Bitcoin and in to fiat (just look at the US dollar, it is getting stronger and making a new high every day), they are just waiting for the right opportunity to sell (6-10 dollars?), the opportunity isn't coming because of the high inflation environment, but I think they are getting desperate, 500 000 bitocins + 7200 bitcoins/day out on this thin market could take Bitcoin to 1-2 dollars.

As you can see, 6000 bitcoins out on the market on the bid side just this minute.

I could give you many reasons that it will continue going down. Rally in very extreme short term is the only possibility, besides that there is no signs of a strong rally. I think the likelihood of BTC going to 3 dollars is much higher then let say 9 dollars.

Makes sense. Thanks for the update.

If I look at you page for the last 24 hours and also look at clark moodys page with volume for MT.Gox, you/Bitcoinica have right now pretty much the same trading volume. If this is accurate, this is very impressive. Mt.Gox have been around for ever and you like less than one week. This tells me also that you don't hedge your positions in a large way. Or are you hedging some of the positions through Tradehill? But it shouldn't make any difference, because Tradehill have much lower volumes.

What kind of positions have people taken, I mean is this a new gamble site with high leverage (average user)? Or have like miners (a guess) taken low leverage positions to short the market (so they now exactly what they are going to sell their Bitcoins for)?

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