@LarryLiu Agreed.
This crash is because lots of people who don't understand what cryptocurrency is, are afraid of it... and with the announcement made today, they clearly don't understand how reinforcing it was that the government did that. I am sure the "higher ups" that made the call to ban banks (and so forth) are secretly buying these up.
It won't be long before you have ALOT of rich "government" types. Maybe Obama should buy some, wait for the price to go thru the roof, and then pay off our debt..
Oh wait, that would be a good idea, and Obama doesn't like good ideas.
Flushing those greedy, speculative, blind "investors" out of the bitcoin universe may not be a bad thing for bitcoin's future. Once they are gone we can continue to work on perfecting the ecosystem one step at a time. They are such a distraction. I lost a lot of money today but I will be happy if this self-inflected "crash" keeps them staying away.
I really don't understand what those panic-sellers are thinking about.
Some said they are "worried" about the statement by chinese government the day before, but seriously?
The price at BTC-China is a lot higher than mtgox, bitstamp and btc-e. Why? Because, Chinese people understand the statement better.
I didn't notice the price difference lol.
At this very moment, mtgox: 670USD, bitstamp: 620USD, btc-e: 640USD, btcchina: 4400CNY(about 720USD).
Maybe you are right.
It seems the Chinese are not that worried about that statement; while the others are panic lol. This is interesting.
Everyone can check it here.
http://bitcoinwisdom.com/
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