It isn't even funny anymore watching you guys lose money. Even after all the flamming and troll calling you have done.

For like 2 months I have been warning many of you that the price will fall and that you should sell your bitcoins. Even during the recent run to $8.70, I told you it would rise to maybe $11 or $12, and then fall even lower. I told you to sell during this mini-rally.

My reasons varied why I said bitcoins are not worth $30, or even $20, or even $8 dollars.

However, the main reason is that there are way too many miners dumping thousands of bitcoins on the market every single day. buyers of bitcoins are few and far between, why buy when most people mine them for free anyway. The buyers of bitcoins can not afford to pay all those thousands of miners to mine.

Just think about it logically, all these miners want to make hundreds of dollars a week, however, who the heck is going to turn around and pay them for something that has no actual use. You can't use it for anything, it is for the most part totally worthless, and now it keeps losing value like there was no tomorrow. To make it even worse, bitcoins are very unsafe to hold and store. It is a matter of time before your bitcoins are stolen in my opinion. I am sure many buyers do not feel safe taking thousands of dollars of their cash, and then holding it in bitcoins. Personally if I had any significant amount of bitcoins I would be deathly worried that they will get hacked.

The other problem you guys face is that I really do believe the big market players have pulled out already after trying to hold the market higher, and lost thousands of dollars trying to do so. There are almost no buyers on the market, except a fake build wall at $9.00 right now.

If all the bitcoins that were mined today were sold, it would push the price of bitcions all the way down below $7.00 right now, assuming that $9.00 bidwall is fake.

So stop being stupid and blind. The money miners make comes from the buyers of bitcoins, but the buyers of bitcoins don't have nearly enough money to subsidize the whole bitcoin mining industry. And with the continuous fall of bitcions over the last months, it will get even worse.

This will be the last great bitcoin battle fought. Will the market manipulators who have been keeping the price of bitcoin high for so long and have put up their defenses at every major price point be able to hold back the stable real price of bitcoins.

They defended the price with lots of money, putting up huge bidwalls at every price point on the fall down to a stable price.

They seem to have put up one last defensive wall at $10 and $10.1 of only 5,000 bitcoins. This is their final pathetic atempt to stop the inevitable fall into the single digits where bitcoins will flourish and be affordable for all people to use and invest.

If you look at the market depth you will see that they have given up after the $10 dollar wall is broken, there is absoultely no bid walls all the way down to the $7 range. This clearly shows that most of the buying was done by a few market manipulators and when they pull out you will see the small buys by the average investor.

The manipulators lost tens of thousands of dollars in there grand scheme to try and push the price back up higher. How stupid could they have been knowing that miners are making over 7,000 bitcoins a day and they would have to continue throwing thousands of their dollars into buying all those bitcoins.

We were heading down into the 11's, broke all barriers with relative ease to 12.5. Market manipulators could not even prop up the price for long although they tried.
Then the price shot up to a peak of $14.7. I am pretty sure this was all because CNN released a video or something about bitcoin. Maybe someone can verify the time this video came out and the time bitcoin shot back up to $14.7?

I am sure some of you have heard "Buy the rumor, Sell the News" in stock trading. Google it, there is a reason why this saying exists.

Well, if you have bitcoins now you should consider selling. The price has already broke into the $13's. We are heading back down again.

Looks like bitcoin finally broke through the $14 barrier, and it is holding long enough in the $13 barrier long enough to test that $13.5 dollar bid wall and set a new psychological price of $13 a bitcoin. 

The bid wall has fallen from over 10,000 bitcoins to 7,000. But it is obviously not a fake bid wall as it has not disappeared and is still holding strong. Who ever is buying so many bitcoins at $13.5 is taking a huge risk as I think that once that bid wall is sold we will be testing the $12 pricing soon. Maybe one last gamble by someone to keep the bitcoin price artificially high? I think that this 13.5 bidwall may hold for a few days and we should see $12 pricing by Sunday/Monday.

It seems the price will not shoot up to $14 range easily as there are many sell orders between 13.9 and 13.95.

This is my take on the current bitcoin price and where it is going. Please share what you think and what you think about that $13.5 bidwall and how long it will hold up? 

Why and Who is holding the market from dropping below $14? It is pretty obvious in the last couple of days that something is trying to hold the price from dropping below $14.

Is this manipulation? Is this bitcoin owners trying to not sell below $14 for fear that the bitcoin will go lower? Is it not manipulation and just the free market think it is worth exactly $14.00099 and not $13.99?

The bitcoin has consistently demonstrated that it will go lower and continue to reach new lows. Yet, it is currently trading close to $15 dollars.

Who would be buying at these prices?

What i think is either speculators are only buying to try and sell at a small spread, so they do not care what the price is, as they will sell very short term.

Manipulators are trying to maintain price and are trying to keep the price high so that they can build confidence in bitcoin and sell the majority of their bitcoins higher?

Your average investor just thinks bitcoins are worth it, and are buying them up.

I can not see the average investor buying bitcoins at this price, knowing that it will most likely continue a downward trend, and they could also wait a few days and buy low.

So what is going on? What is causing the price to continue going higher after it has been hitting new lows? Or how I would like to put it, who is dumb enough to buy at $15 now, when it was just $11 yesterday, and will probably hit that again very shortly?

You may think that it will increase the price of bitcoin, since there are not new bitcoins coming to the market.

However, will the loss of miners cause a loss of interest in bitcoin so great that bitcoin price will actually fall?

I used to be more interested in this when you could actually mine and make an income etc. But now that it seems to coming to and end I have lost a bit of interest. I do not check the price as often, and I do not think I even want to invest any money into bitcoin any more.

Bitcoin is just like any other collectible, be it comics, baseball cards, antiques. When there is lots of interest in it you do not want to sell what you own, and want to buy more at high prices. When you just do not have the interest, you do not care.

We shall see what will happen, but does anyone think the unprofitble mining will have an effect on the price?

Obvious you would get better results by having it run longer, so lets say bitcoin per hour.

I was wondering if I mine, then decide to use my computer a few hours for gaming etc., if it will hurt my mining?

I can see the flaming posts already, so let me claify this, I do know if you leave the darn computer running all the time you will get better results. My question is, if I mine 80% of the day, and take the computer down 20% of the day, will I still get 80% of what I would have got if I had the computer running 100% of the day.

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?

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!

Please link me if there is another post like this.

I was thinking of building a mining rig and need recommendations on the parts. I want to know the best bang for the buck. I will buy used only if it is easy to buy the components used and quickly. If you can send Newegg links for the recommended parts that would be great also.

Please list if it is better to go with 2 3 or 4 video cards, or 2 separate computers with 2 video cards each.