Why don't we go lower? Because nobody needs btc

[wobber]

Exactly. Major exchanges halted bitcoin withdrawal. But price is not affected by some hard faith in the bitcoin protocol or hardening of the people that use it. Oh no... It is because nobody really want's to withdraw bitcoins, everybody wants to be able to pour in fiat, pour in bitcoins and SPECULATE.

Check what happened to Gox. 9+ month of inability to withdraw cash? If that was your bank you'd set it on fire and and pee on it just to show you're unable to fight the flames. And still, people used it nevertheless.

This is a solid proof that we're 90% based on speculation.

[gizmoh]

This is a solid proof that we're 90% based on speculation.

More like 95%-99% speculation via Hodling/Trading.

[Mythul]

Why would I sell when clearly BTC is still in it's early years ?

It's like selling when Apple revealed the iPhone times 100.

[wobber]

This is a solid proof that we're 90% based on speculation.

More like 95%-99% speculation via Hodling/Trading.

Which makes me wonder is there's a method to compute that ratio... I was just making an assumption with 90% but I gues you're right, 95-99%.

Anyway, death to bitcoin exchanges.

[Cyberlight]

Please tell me about the gold price which is not largely based on speculation.

I don't understand what your point is.

[HairyMaclairy]

It is the opposite of speculation which had no ideological attachment to the underlying instrument.  

It is a global group of hard core true believers. Seriously this place is like a cult sometimes.  But that is also the reason we have gotten so far.

You are just pissed there is bad news and no one selling you cheap coins (cheaper than $600s anyway).

[medUSA]

The reason why it hasn't gone lower is simply because not a lot of people want to sell lower.
Everyone has their own reasons, but few would consider bitcoin being useful as factor.

[GigaCoin]

There is way way too much FUD. Everyone now thinks bitcoin will be worth 100USD or less.

Its not going to happen.

[HairyMaclairy]

There is way way too much FUD. Everyone now thinks bitcoin will be worth 100USD or less.

Apparently the market thinks they are worth $680 right now.

[Cyberlight]

The reason why it hasn't gone lower is simply because not a lot of people want to sell lower.
Everyone has their own reasons, but little would consider bitcoin being useful as factor.

People who panic shotr now are stupid anyway, at the end of this year we see a significantly higher price.

[bitcon]

so nobody is using btc for online gambling, black/white market or services anymore?  well i guess thats it, close up the forums, nice knowing y'all.