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Again, I'm optimistic long term, but, and this comes from my experience through the 2011 long slow slide, during a downtrend when people start depending/hoping on bid "walls" on depth charts, things are probably not going well.
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Count me among the optimists. Here's something I've been considering lately. I learned my big lesson in not trusting 3rd parties with any significant amounts of bitcoin in 2012 with the bitcoinica fuck up. Many of us learned that lesson through that experience and others back then. But, there just weren't that many of us.
This go around there are a lot more people with a lot more money invested in bitcoin. And this most recent incident was enormous in scale, affecting multiple 3rd parties. Basically, everyone just got schooled in why you don't keep lots of bitcoin with 3rd parties, and I suspect over the coming months we're going to see the bitcoin supply on exchanges drop as people withdraw their bitcoins and learn to hold them themselves.
The whole infrastructure is still maturing and VC interest is clear. However, VCs won't tolerate the risk of investing in startups with inexperienced management teams, and, therefore, I think we're in the midst of seeing it change hands from business owners with little real business experience to more experienced managers. My thinking is that the infrastructure is moving forward and becoming more mature and robust and more usable and interesting for end users and business integration, and I think supplies on the open markets will decrease. Combine those two things and I think you have the ingredients for another strong bull run later this year.
Just some thoughts.
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I'm really starting to have some doubts here. Someone reassure me please?
...It's not March 1st yet?...  |
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I lolled. Why should we be worried? You can sent out 1200 transactions of 1 satoshi's without a problem. If it ever confirms or get confirmed at all is the second question and the answer to that is most likely not. Almost all miners will simply ignore this transaction.
What if its a test for something bigger? What if someone decides to try 12,000,000 transactions now.. OMG! Or worse?! What if somebody decides to try to send 22,000,000 1BTC transactions! what if the blockchain begins to think for itself and pulls skynet on our asses? Aaaaaaaaaaand we got him, folks. Move on. |
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I lolled. Why should we be worried? You can sent out 1200 transactions of 1 satoshi's without a problem. If it ever confirms or get confirmed at all is the second question and the answer to that is most likely not. Almost all miners will simply ignore this transaction.
What if its a test for something bigger? What if someone decides to try 12,000,000 transactions now.. OMG! Or worse?! What if somebody decides to try to send 22,000,000 1BTC transactions! |
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Mtgox has pretty much said "we're going going to hold on to your bitcoins until pigs fly"
Is there anything we can practically do to get our btc back without resorting to selling and taking a chance on fiat withdrawals?
1. Class action suit somewhere?
2. File a complaint with the Japanese authorities?
3. anything at all?
thanks.
Those of us who got stung by the whole bitconica debacle know that if MtGox wants to keep your bitcoins, they will, and there's basically nothing you can do about it. So, just a reminder to everyone, MtGox is still holding 10s of thousands of bitconica bitcoins hostage...and that happened in early 2012. |
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My prediction will come true. And when it does, I expect a donation from everyone here. Otherwise I will never again share insider information with you guys  . Prediction fail. This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800. Man, was I disappointed. If it went up, great! If it went down, also great! But it did a big fat nothing. the 31st isnt over yet Now it is, now it is my friend. I obviously meant the 31st of January, 2015. Not 2014. Silly you! (Proudhon please confirm this). My prediction will come true. And when it does, I expect a donation from everyone here. Otherwise I will never again share insider information with you guys . Prediction fail. This morning the sun rose (except in China where it is too polluted unfortunately). Bitcoins spiked up and then settled at $800. Man, was I disappointed. If it went up, great! If it went down, also great! But it did a big fat nothing. the 31st isnt over yet Now it is, now it is my friend. I obviously meant the 31st of January, 2015. Not 2014. Silly you! (Proudhon please confirm this). Cannot confirm. Also, as I've completed what I consider my magnum opus, and finding myself seriously exhausted from it, I need to take a breather from the spec forum again. See you later, guys.  |
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I can't believe what I'm reading: Meanwhile, members of the BitcoinTalk forum have expressed fear over the potential closure of Chinese exchanges, with hundreds of posts gaining tens of thousands of views from the crypto-currency community.
One forum member, using the name 'Bitcoinlitcoinbtcltc' said that after 31 January, "Chinese can no longer do anything related to bitcoins. They can not withdraw money from Chinese exchanges. So the bitcoins they have on Chinese exchanges are 'dead'. They can not trade those bitcoins in for real money, or withdraw that money. It's like that money doesn't exist anymore."
This doomsday scenario was echoed by another used called 'Proudhon', who has contributed to the forum for three years. The user said bitcoin's fall from $1,200 to its current level of around $900 will "continue until bitcoins are worth $0."
Much of Proudhon's comments from "confirmed sources" have been dismissed by other forum users, but the sense of unknowing shared across the community is hard to ignore.
 I CANT BELIEVE IT!!! IT'S CONFIRMED!! Proudhon is in the news Im so proud of you Proudhon! This makes me question the accuracy of mainstream media - oh no wait - it doesn't. I almost feel we should close this thread now, for what a fine way to end! You start a parody thread to make fun of how the media/forum-trolls spreads FUD without doing due diligence, you post links to articles in Russian and Chinese that have nothing to do with bitcoin, blow everything completely out of proportion, inspire forum members to generate fake documents and conspiracy theories, and in general just act so stupid that your mind blown that anyone could take this thread seriously.... ... and then still--despite all of that--have the MSM report Proudhon's sources as "confirmed."This really made my day guys. Cheers to everyone who's contributed to the many good sources of bad news!  |
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Time to fondly remember the greatest proudhon moment. It occurred at the April 2013 peak, when he finally turned from bear to bull...
Well, if we made it to $266 then maybe I was wrong and the market is growing enough to sustain the growth.
Followed by a mass sell off by all. Yes, as I foresaw, and had confirmed via good bad sources, the market has crashed and continues to fail to make new ATHs. |
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SPECIAL UPDATE: the price has, again, failed to make new ATHs, and therefore adds further confirmation to what's already been confirmed, that bitcoin is crashing as we speak. Over the next 24-48 hours more confirmed bad news will roll in, as has been confirmed. Much of it will be from China, therefore maximally confirmed. The weight of all these confirmed bad newses will further crash the price of bitcoin over the weekend, as has already been confirmed by true and faithful sources.
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I've been inspired by the work of Professor Williams, and in his glorious honor I propose we begin collaboration on bitcorn - the worlds first best cryptocurrency. I don't know how to program, so I'll need help. Plenty of experienced devs here - one of them can write the kernel. I should be up and running in a few days. |
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Confirmers, it's time we get serious about the development of a better cryptocurrency. I've been inspired by the work of Professor Williams, and in his glorious honor I propose we begin collaboration on bitcorn - the worlds first best cryptocurrency. I don't know how to program, so I'll need help.
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I think my dad did a great job articulating our confirmed position.
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proudhon is Maxed leveraged short i saw we squeeze his position! BUY BUY BUY  I'm not concerned as I'm using the martingale maxleverage SHOTR strategy. Also, as I have confirmed, when the price moves up, that is confirmation of a crash, and when the price doesn't move up, that is confirmation of a crash. Therefore, SHOTRING is the most reasonable strategy, given the confirmed facts I have confirmed and the recent bad newses trend. |
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Don't worry proudhon, some people will just never accept the fact that bitcoin is crashing you're a troll and not really a bear.
ftfy Not confirmed. |
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...it's bad news...
You're not very smart, are you? I don't know if this is a confirmation of what you've said, but I have been called the Forest Gump of bitcoin. |
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Uh oh, a bunch more merchants "of similar statute" (as Overstock) about to sign up with Coinbase.
This is not confirmed, but even if it is, it's bad news as these merchants will cash out all their bitcoin and will further crash the market. I have confirmed the last part where I just wrote "even if it is, it's bad news as these merchants will cash out all their bitcoin and will further crash the market". |
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So 30 pages of confirmed Bad news from confirmed fact based Sources and the price is still $940  Exactly, no new ATHs, as confirmed. This demonstrates a frightening downtrend for those not in SHOTR positions. |
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But have you considered the impact of all the recent confirmed newses?  |
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ATTENTION EVERYONE: I can confirm that bitcoin continues to fail to make new ATHs, and is therefore confirmed to be heading to new ATLs. This is clear from any TA. I confirm.
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