misterbigg (OP)
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Activity: 1064
Merit: 1001
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October 26, 2012, 05:38:13 PM |
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Why are we in the middle of a massive sell-off?
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jojo69
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diamond-handed zealot
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October 26, 2012, 05:42:55 PM |
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why not?
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This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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Technomage
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Affordable Physical Bitcoins - Denarium.com
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October 26, 2012, 05:43:56 PM |
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Good question. There are no bad news to blame it on. Blaming it on a "natural correction" doesn't really explain everything either, it's crashing in a too textbook way. I hate to say it and I don't necessarily believe it's true, but there could be manipulation. The way the sell offs are triggered and the induced panic selling which is increasing... this could be an orchestrated crash. Easily. It doesn't feel like a real crash but it looks like one. Also it could be an insider crash, someone knows some really bad news is going to hit Bitcoin soon and wants to do this in advance. Or bitcoins just are still too highly valued at double digits and it is just a natural correction. It could be anything, really. Hard to say.  |
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pyra-proxy
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October 26, 2012, 05:47:02 PM |
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Because I just bought some coinses, good thing the bit-man doesn't know I'm about to buy some more or the price would be going through the roof... drat shouldn't have said that! lol
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sippsnapp
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October 26, 2012, 05:48:59 PM |
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No bad news??? There re so much talks about asics, cant see another reason.
For GPU miners, indeed this is bad news.
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Πάντα ῥεῖ
Bitcoin + Altcoin node pool setup - pm
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Technomage
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Affordable Physical Bitcoins - Denarium.com
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October 26, 2012, 05:49:27 PM |
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I'd like to add that the big ask walls that seem to follow the crashing price are a major indicator for a manipulative crash.
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Denarium closing sale discounts now up to 43%! Check out our products from here! |
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Spekulatius
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October 26, 2012, 05:58:25 PM |
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No bad news??? There re so much talks about asics, cant see another reason.
For GPU miners, indeed this is bad news.
I dont see a valid argument, why prices should fall due to ASICs, when the earliest announced shipment is still sometime in December (or am I not up tp date?) I also dont see any satisfying argument, that justifies the current crash. In that situation any BIG news could push the price the other way in this volatile situation. Stay tuned! Also, it DOES look alot like a textbook crash, pretty strange. Almost too smooth. Anyway, Im waiting for the dead cat bounce. |
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niko
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October 26, 2012, 06:15:48 PM |
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Because bitcoin economy is relatively small, and prone to manipulation by few big players. Like it or not, bitcoin is an easy target for pump-and-dump.
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They're there, in their room.
Your mining rig is on fire, yet you're very calm.
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nobbynobbynoob
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October 26, 2012, 06:17:33 PM |
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Because bitcoin economy is relatively small, and prone to manipulation by few big players. Like it or not, bitcoin is an easy target for pump-and-dump.
Agreed, but it's not as volatile as it used to be. LTC, on the other hand...  |
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fcmatt
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October 26, 2012, 07:10:18 PM |
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because price of bitcoin is ridiculously over priced for what it is and does.
most owners are speculators and finding the bigger fool is getting tough right now.
pretty simple really.
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DanielBTC
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October 26, 2012, 07:14:30 PM |
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bitinstant is down.
bitme is down
...
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smracer
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Activity: 1055
Merit: 1020
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October 26, 2012, 07:15:33 PM |
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Are some of the Bitfloor stolen coins moving now? They seem to be from what I can tell.
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ElectricMucus
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Marketing manager - GO MP
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October 26, 2012, 07:18:51 PM |
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because price of bitcoin is ridiculously over priced for what it is and does.
most owners are speculators and finding the bigger fool is getting tough right now.
pretty simple really.
That's just not right. Sellers are just a small minority, the scenario you are summoning up would be much more severe. My explanation: See my Avatar Text. People have waited for an opportunity to get out out of disappointment over various schemes which took place this year, there is a limited number of these fellas and they probably don't even have that much BTC to sell. (Because they lost so much already) |
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beekeeper
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October 26, 2012, 07:23:52 PM |
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bitinstant is down.
bitme is down
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btc-e too, seems under DDOS. May be orchestrated. |
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cedivad
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Activity: 1176
Merit: 1001
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October 26, 2012, 07:27:34 PM |
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pirateat40i'mgay is selling.
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My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
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Richy_T
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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October 26, 2012, 07:29:12 PM |
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Dang, I need to get my mtgox acct set up. I'm gonna get me some bitcoins.
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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OgNasty
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Leading Crypto Sports Betting & Casino Platform
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October 26, 2012, 07:32:59 PM |
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Perhaps ASIC companies are now ready to place their orders with manufacturers and are thus selling BTC to raise the necessary funds.
With the block reward getting cut and New Year's Eve right around the corner, I'm hesitant to sell now. I still think we'll see an end of the year bubble. I'll be looking to sell some on January 3rd. I tend to trade with a plan, rather than react to market gyrations. Time will tell if this line of thinking makes or loses me several thousand dollars.
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jking
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October 26, 2012, 07:42:25 PM |
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beekeeper
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October 26, 2012, 07:51:08 PM |
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Perhaps ASIC companies are now ready to place their orders with manufacturers and are thus selling BTC to raise the necessary funds.
That is possible to, BFL said they just payed a "bullet run", maybe they need extra money very fast. |
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