What is interesting about this drop for me...

[smoothie]

We would have to go to $3.17/btc for me to break even on my initial investment.

Multiplied my initial investment several times.

I think it's entertaining to see all the panic selling going on, as if pirate (in the long-term - i.e. years) can keep the price down or up on his own.

The fundamentals of bitcoin have not changed.

Many here are so short-sighted.

1. Next month Gavin will announce something that will bring "stability" to bitcoin.

2. ASICS to be released in the next few months.

3. Block reward halving.

4. Continued central bank funny munny printing.

 


Please take us to $1 bitcoins or even $5 bitcoins.....it's all good...I'll buy more......so SELL SELL SELL!

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[Scott J]

This is my thinking.

My friend who has been investing with me is understandably worried, but I see this as an opportunity to buy up more coins cheaply.

 

[cryptoanarchist]

Agreed. I've been sick and got in late but volatility like this just means more BTC for me.

[runeks]

Looks like there's really a resistance point around 8 though. Price seems to bounce up and down around that point, from 7.70 to 8.30 (currently).

[smoothie]

Apparently the "speculators" who "speculate" on BTC are terrible at it.

In this market, a small minority must be fleecing the majority.

We've seen so much buy high and sell low in the past week it's ridiculous!

I tend to agree. If I'm able to make at least triple my initial investment and have the price have to go to a price lower than where I initially started buying at to just break even...tells me there are quite a few suckers out there that just dont know how to trade effectively.

Their strategy is:

Buy in to strength
Sell into weakness

 

[GeniuSxBoY]

That's his cue to take it to $3.17

[smoothie]

That's his cue to take it to $3.17

Nice! I'll be buying more then mate! 

[zhalox]

We would have to go to $3.17/btc for me to break even on my initial investment.

Multiplied my initial investment several times.

I think it's entertaining to see all the panic selling going on, as if pirate (in the long-term - i.e. years) can keep the price down or up on his own.

The fundamentals of bitcoin have not changed.

Many here are so short-sighted.

1. Next month Gavin will announce something that will bring "stability" to bitcoin.

2. ASICS to be released in the next few months.

3. Block reward halving.

4. Continued central bank funny munny printing.

 


Please take us to $1 bitcoins or even $5 bitcoins.....it's all good...I'll buy more......so SELL SELL SELL!

I agree with this.  I don't give a crap about this "pirateat40" and his sheeple followers.  The whole point of a decentralized currency is taking OWNERSHIP of your money - not giving it to ponzi schemers & central banksters to screw you over with lies.  Those who panicked and sold will have to buy back their BTC at higher prices.  Us Austrian economists will win this in the end.

[misterbigg]

Please take us to $1 bitcoins or even $5 bitcoins.....it's all good...I'll buy more......so SELL SELL SELL!

Please wait until my MtGox deposit clears before selling!

[sippsnapp]

If the whole story is true the interesting part is will he/they be able to buy back at the desired price. (i understand it this way)
And what would happen if somebody else scoops up all the sold coins, in this specific case?