Hey Cluster2k,  Funny how the bitcoin bulls will spin really bad news into good news. Most are still obvious in the delusional stage.

I always wondered how any big hedge fund etc. would invest into bitcoins without easily risking losing all of their bitcoins. I mean all it would take is someone internal to transfer out/steal the bitcoins.

I guess my concern had validity.

Anyway looks like I'm out $670 dollars that I had left on Mt Gox. Oh well..

supposedly the rumor is that someone on reedit or something showed proof of Mt Gox allowing bitcoin withdrawals.

I think that thinking Gox is the reason bitcoin is lower is wishful thinking.

Trust me the gox problems are priced in, everyone knows for a long time that gox was problems and what ever happens at this point will be looked at as a good thing.

Lets face it, gox goes out of business, that is a good thing for bitcoin, price will go up.

If Gox gets back to normal that that is also a good thing for bitcoin, price will go up.

I think Gox has helped the bitcoin price stay higher by its artificially high prices. People would think their bitcoin was worth more than it was and wouldn't sell them on another exchange.

This is shaping up a lot like the 2011 bubble. Even at points during the 2011 bubble I bought bitcoins thinking the bottom was hit only to see it go a lot lower.

I bought some bitcoins back at $600 but sold them yesterday when it became clear to me that there is a good chance we are going to go much lower.

I'm going to think we will be back to $100-200's. It will take a while and people will say never like they said in 2011, but it could happen.

I don't think anybody realizes just how small the bitcoin community is for buyers and how expensive bit coins actually are. Now you have the community that pushed bitcoins to $1000 sitting on lots of bitcoins and no reason to keep buying them to push the price higher.

You also have lots of competitor coins that do the same thing as bitcoin.

As the price continues to stay stagnant and slowly falling, this will put so much downwards pressure on bitcoin at these very high price levels. I don't see anyone really buying at these price levels when the price isn't moving higher.

I really don't see any value currently in bit coins until the price comes down to $100's or lower. It is just a bad investment at these high prices and I have been saying that for a long time.

I had around $650 dollars there before I bought 2 bitcoins with it a few days ago.

The only reason I had money there was I moved like .7 or so for a test as they had the highest price. Then I had to do all these security verifications to get the bitcoin out and I was just too lazy to do that so just let the money sit.

Why don't you give a reason for this, or are you just being sarcastic and giving bears a bad name?

What I wonder about is in order to buy alts you pretty much need to buy bitcoins. So in a way it is a buy of bitcoins, than a transfer of those bitcoins to someone else.

If alts had their own exchange where I can buy alt-coins with USD and completely bypass buying any bitcoins, I wonder how that would play into the bitcoin price.

I am kind of stumped thinking about if alts help, hurt or do nothing to the bitcoin price. I guess it would depend on how the person who sold the alts holds those bitcoins.
If the seller of alts, just holds the bitcoins and doesn't sell them then it would help the bitcoin price.

It is possible the person buying the alts would have bought bitcoins instead, maybe or maybe not.

Maybe this is why I am stumped because it all depends on how alts change the buying and holding habits of people holding bitcoins.

Either way, I think alts is a help to bitcoins until alts have their own exchanges where you can buy them for USD directly and not have to deal with bitcoins.

I personally held bitcoins for a while until I sold everything a while ago. The only reason I held bitcoins was because of the alts, I would never consider bitcoin an investment at $500+. Because I was gambling with the alts I had to buy bitcoins and always had some to do transactions with.

Its stupid, it doesn't matter where its going eventually. Yeah maybe 10 years from now it could reach 10K. What matters is buying in at the best price.
If you bought in at $500 you would get double amount of coins than at $1000. Think about how much extra money that would be when bitcoin hits 10K if you bought double the amount of coins.

I sold my coins at $800's and can now buy them back at a lot cheaper price.

Just don't be too greedy trying to get the ultimate best price, that has screwed me plenty in both bitcoins and the stock market.

I'm just glad I sold all my bitcoins in the $800's. I probably won't even consider buying until it stays at a price range for at least a week.

All good reasons to cash out ASAP before it falls even further if you ask me. There are still many perma bulls thinking we are going to 10K and are holding. You still have some time to get what I consider a high price for a bitcoin.

Exchanges should shut down to stop this freefall of bitcoin!

Honestly, I don't know which bubble was more ridiculous. I would say the $1200 bubble was probably more ridiculous. Although the $30 bubble was very ridiculous at a time when it went from pennies a coin to $30 in a matter of months.
 

LOL, OWNED

These Bitcoin cheerleerders will never stop. They also sit on here and try to immediately and undermine anyone who posts anything they consider negative.


I just say to them, why do you not just sell your bitcoins if you're going to waste all that time trying to mislead people into buying.

I sold out of alt-coins a while back when I saw the inevitable collapse.

Too many alt-coins that all have to share the same investor money. Too many alt-coins being made which offer nothing different than another.
The growth rates of the coins were way too high to sustain the current price when miners come in to profit from them.

I have not looked at the coins in a couple of weeks but can't believe some of the prices.

Stable coin .014 cents lol

Cryptogenic bullion .67 cents, I lost $100 bucks on this coin. This coin deserves to die anyway because you have the creator making it out to seem like it is different than all the garbage.

World Coin .14 cents. I knew this crap was going to go under for a long time. Those jerks think the name "world coin" is really going to set it off.

All these coins deserve to die. The community are made up of a bunch of greedy idiots who think their coin is worth ridiculous prices but do not want to hear anything to the contrary.

Look at me have a good laugh at the Ron Paul Coin community here.

https://bitcointalk.org/index.php?topic=389070.msg5114725#msg5114725

TERA you have a good point there and I must say I saw first hand what the developers can do with a ALT COIN.

With one particular alt-coin they decided to upgrade it to change how the mining works after the coin was released. This caused the growth rate to go from around 700 coins a day to less than 50 coins a day.

I was betting on the coin price falling as it was way overvalued and I was right. Then they did this patch or upgrade and of course the value doubled. I was like WTF.

If I would have known they were going to do this I would have bought heavily because I knew the growth rate would slow up.

It wasn't long before the growth rate went back to normal and the price dropped. They just changed the code to not allow the difficulty to fluctuate so quickly.

I really did not like that they can change the rules when they wanted to.

Its funny, any post that is negative about bitcoin always has the same people respond immediately to try and derail the post. It is almost always the same group of people that somehow always try to be the first to respond trying to sabotage the post.

If you're that friggn worried about bitcoin price falling why do you just not cash out already and sleep better at night than stay in here and try and make everybody think that bitcoin is all find and dandy.

Get a life already. This is the speculation forum, you should maybe learn from the negative posts or the bears.

If you did you would have cashed out above $1000 already.

Yahoo finance just posted an article about Mt. Gox claiming the bitcoin code had issues. I would think that should be enough to scare anyone away from bitcoins. 

I honestly wonder where the money is going to come from to push bitcoins even past $1000 at this point.

You have to realize that so many people are sitting on huge amounts of bitcoins that they paid close to nothing for. It is hard to imagine that enough buyers will come in to buy even a fraction of these bitcoins from them.

I think the holders will start to cheat a little more and sell some before the other holders sell theirs. This should keep pushing the price down. If I had bitcoins I wouldn't want to be the one left holding the bag.

I figure that with the price declines over the last weeks that some long term holders may want to cash out because of the constant losses.

Has anyone here cashed out or are seriously thinking about it?

This could just be the start of the big drops to come.

There are probably a lot of people wanting to cash out, but are doing so slowly as not to tank the market. That is why every rebound the price will quickly go to a new low. That is how I would be cashing out.

I was even saying on btce some days ago that someone knew some inside information on Mt Gox. and that is why the price was falling there so quickly. People are cashing out.

I heard the coin destroyed days was highest it has been some days ago also, people are moving old coins to sell them.

Not looking good, but I do not mind because I sold out about a month ago. Hoping to still have the last laugh as I deserve it with all the flaming I get for being a bear.