Bad Day for Bitcoin. Cryptsy finally admitted theft and Mike Hearn tells truth

[samsads]

big companies claiming bitcoin stolen are just fake...

they just want to hide their crime...

[Blawpaw]

Yeah and now they admit they won't give us back our coins...

http://www.newsbtc.com/2016/01/14/cryptsy-sued-for-holding-nearly-us5-million-of-user-funds/

[Kprawn]

You can read that there have been big losses/ thefts in Bitcoin again from an exchange (can we ever have any real security in Crypto?) Then one of the core Devs resigned because bitcoin obviously has got some big hurdles to overcome before it dies. Well personally because of the 2 of these I am down 15 bitcoins to start today. I have sold everything now and I am contemplating knocking crypto on the head for sure. I have lost far more money that I put into it. the bitcoin priice is going to go down devaluing any remaining physical coins I have left.
I am seriously annoyed by my stupidity to play with crypto so much.
Its a massive shame and a blow for bitcoin today. I hope everyone gets a chance to sell their remaining coins for a decent price.

For me I am fulfilling my current orders on physical bitcoins and then we will see where to go from there.

I need a new business me thinks

You are no different than Mike, you first sell your bitcoins or you say you do and then you start talking smack about it. We do not need people like this in the community and we

are better off without people like that. Your title of this thread is misleading... What truth are you referring to? The only truth in his statement is that he was part of a group of

people who sabotaged Bitcoin by dividing the community. I feel pity for the people who followed him and now he abandoned them and joined the banks. 

[thejaytiesto]

Mike Hearn sold his coins before he dropped the stupid FUD, even Gavin Andreseen has already said that Mike Hearn is exaggerating. This guy has been nothing but a disease for Bitcoin for a while and it's good news that he has finally and officially gone the bankster route (as if it wasn't clear enough with his R3 partnership). And now you are only contributing to this FUD, I assume OP has already sold and doesn't want to feel like shit so he wants the price to go lower.

[gravitate]

Mike Hearn sold his coins before he dropped the stupid FUD, even Gavin Andreseen has already said that Mike Hearn is exaggerating. This guy has been nothing but a disease for Bitcoin for a while and it's good news that he has finally and officially gone the bankster route (as if it wasn't clear enough with his R3 partnership). And now you are only contributing to this FUD, I assume OP has already sold and doesn't want to feel like shit so he wants the price to go lower.

I did sell but not just because of him... because at the same time a major exchange went down.. why would I want it to go down further if I already sold?? For my ego? Nope it's just the reaction of the community. Every action has a reaction blah blah blah

[samsads]

lol...

its time to buy some btc...


hope to see 500 level crossed soon..... 

[johnyj]

The most interesting thing is to watch the transactions and see if many people start to complain about the fees. I think any fee below $1 can be accepted but if the capacity have reached limitation then the fee will shoot up quickly

However, if the fee shoot up quickly, it indicated that the bitcoin is super hot, then maybe the price will also shoot up quickly. Imagine that you are rushing to buy some stocks and the broker tell you that now you have to pay a premium in fee to get this stock delivered to your portfolio, would this prevent you from purchasing it? Quite opposite, people will think that this stock must be super hot, the frenzy will be higher 

Of course only the reality will tell

[gravitate]

lol...

its time to buy some btc...


hope to see 500 level crossed soon..... 

Well that made me lol anyway  

[disclaimer201]

I see good news only. Hearn has left together with his failed xt take-over attempt. Cryptsy is hopefully gone and with it half or more of all altcoins out there. By adding a new shitcoin every day driven by pure greed, this exchange is mainly responsible for the bad state altcoins are in altogether. There should have never been hundreds of shitcoins in existence, new pump and dumps every week were discrediting the effort of perhaps some truly innovative coins out there. Now with that out of the way, the community approach of Bitcoin Classic (hard fork to 2mb block size limit) is definitely an advantage over core. Bitcoin is allowed to scale, yet it isn't going to kill everyone's hard drives out there. Most pools accept it and the Bitcoin price can only go up mid-term because of it! Even the price drop is very good as it gives new adopters a chance to get in and some of us another chance to buy some more coins at a bargain price. The halving will come. The positive effect will hit, if not in 2016 I'm sure in 2017. No problem at all waiting for just a year here.

[gravitate]

I see the price has dropped again 10 usd. This will keep happening everything a new nation wakes up until it is below 200. It's a mass sell off based on the desperate selling and price reduction caused by the nation that has just gone to sleep..

Not a good day at all

[neochiny]

I see the price has dropped again 10 usd. This will keep happening everything a new nation wakes up until it is below 200. It's a mass sell off based on the desperate selling and price reduction caused by the nation that has just gone to sleep..

Not a good day at all

I agreed on this. A lot of people now sell their bitcoins.
Because they are afraid to lose more money.
But guys. do you think we should be really afraid of it?
Who buys bitcoin before 3 months ago already double their,
money. So even it goes down to 300 usd. It wont really
hurt. Besides theres still halving coming. What do you think guys.

[disclaimer201]

I see the price has dropped again 10 usd. This will keep happening everything a new nation wakes up until it is below 200. It's a mass sell off based on the desperate selling and price reduction caused by the nation that has just gone to sleep..

Not a good day at all

I disagree. When Europe wakes up in just a couple of hours it may just as well cause a lot of people to buy in cheap. I have been waiting for the price movement for almost 2 months now, the price wasn't high enough to sell ($500) nor low enough to buy in. 350€, however, is a great price to buy. Why would we see more panic selling? There is no real reason, bitcoin works normally, cryptsy is extremely old news that is just confirmed now, and the blocksize issue needs to be solved for Bitcoin to grow and have a future on a greater scale, literally.

[jonald_fyookball]

ok guys.. here is the summary:

drama = price dump
drama= temporary
price dump=temporary

pricedump = temporary opportunity to buy up cheap coins..

after today i dont wont to read another post about people missing out on cheap coins. especially if their bitcointalk account was registered before january 2016. so if in a years time people didnt buy up in january 2016, then just dont make a post whinging about bitcoins price rise. this is your opportunity right now to get bitcoins at 10% discount off the 2 month average..

Its not just drama.

Hearn is revealing some sobering reality.

I would guess that Bitcoin price is going to
take a major slide until a scalability solution
is implemented.

Yes it is a buying opportunity but who knows
how long it will be until a new paradigm rises.

[BellaBitBit]

I see the price has dropped again 10 usd. This will keep happening everything a new nation wakes up until it is below 200. It's a mass sell off based on the desperate selling and price reduction caused by the nation that has just gone to sleep..

Not a good day at all

Price drops have happened before and will happen again.  I can't remember what great investor said it but...with investments you should never look back.  You sold and that is what you felt was right so the price should not matter.  To me, continuing to talk about drops just contributes to rash behaviors  

[jonald_fyookball]

The most interesting thing is to watch the transactions and see if many people start to complain about the fees. I think any fee below $1 can be accepted but if the capacity have reached limitation then the fee will shoot up quickly

However, if the fee shoot up quickly, it indicated that the bitcoin is super hot, then maybe the price will also shoot up quickly. Imagine that you are rushing to buy some stocks and the broker tell you that now you have to pay a premium in fee to get this stock delivered to your portfolio, would this prevent you from purchasing it? Quite opposite, people will think that this stock must be super hot, the frenzy will be higher 

Of course only the reality will tell

You still don't get it.

Higher fees won't make Bitcoin scale. 

[disclaimer201]

ok guys.. here is the summary:

drama = price dump
drama= temporary
price dump=temporary

pricedump = temporary opportunity to buy up cheap coins..

after today i dont wont to read another post about people missing out on cheap coins. especially if their bitcointalk account was registered before january 2016. so if in a years time people didnt buy up in january 2016, then just dont make a post whinging about bitcoins price rise. this is your opportunity right now to get bitcoins at 10% discount off the 2 month average..

Its not just drama.

Hearn is revealing some sobering reality.

I would guess that Bitcoin price is going to
take a major slide until a scalability solution
is implemented.

Yes it is a buying opportunity but who knows
how long it will be until a new paradigm rises.

Not just, but it's mostly drama. Bitcoin Classic already has the support of a majority of the big mining pools and exchanges even before it actually started! Check out the supporters at https://www.bitcoinclassic.com/

Pretty sure the fork will come and it will be successful this time.

[jonald_fyookball]

ok guys.. here is the summary:

drama = price dump
drama= temporary
price dump=temporary

pricedump = temporary opportunity to buy up cheap coins..

after today i dont wont to read another post about people missing out on cheap coins. especially if their bitcointalk account was registered before january 2016. so if in a years time people didnt buy up in january 2016, then just dont make a post whinging about bitcoins price rise. this is your opportunity right now to get bitcoins at 10% discount off the 2 month average..

Its not just drama.

Hearn is revealing some sobering reality.

I would guess that Bitcoin price is going to
take a major slide until a scalability solution
is implemented.

Yes it is a buying opportunity but who knows
how long it will be until a new paradigm rises.

Not just, but it's mostly drama. Bitcoin Classic already has the support of a majority of the big mining pools and exchanges even before it actually started! Check out the supporters at https://www.bitcoinclassic.com/

Pretty sure the fork will come and it will be successful this time.

I think this Hearn exit will then be a good catalyst to make the implementation
happen sooner.  I would expect an equal or greater surge to the upside when
that happens.

Even if you perceive it as drama because a solution is imminent,
you can't blame Mike Hearn for describing exactly why he's
fed up with Bitcoin...and if you are for Bitcoin Classic then
you agree with the only point that matters, which is that
we need to increase the blocksize limit asap, which is
the very thing Mike has been trying to do and has been
demonized for. 

I definitely don't agree with some of Mike Hearn's
authoritarian leaning statements but I find that
Greg Maxwell/Blockstream are doing far more harm
with their stonewalling.

[~Bitcoin~]

big companies claiming bitcoin stolen are just fake...

they just want to hide their crime...

Yes i also think same, they are only trying to get away with others coin without being investigated. They think their users as noob and will not understand their lie.

[gravitate]

Sure Block halving is coming but that many months away and right now there are loads of issues to fix as he did make a good point. Also with the missing bitcoins from cryptsy well does this not 100% prove no one can trust exchanges anywhere? If thats the case why hold bitcoin over FIAT. It has no real benefits right now that overcome the severe financial risks for everyone.

[Kprawn]

ok guys.. here is the summary:

drama = price dump
drama= temporary
price dump=temporary

pricedump = temporary opportunity to buy up cheap coins..

after today i dont wont to read another post about people missing out on cheap coins. especially if their bitcointalk account was registered before january 2016. so if in a years time people didnt buy up in january 2016, then just dont make a post whinging about bitcoins price rise. this is your opportunity right now to get bitcoins at 10% discount off the 2 month average..

Its not just drama.

Hearn is revealing some sobering reality.

I would guess that Bitcoin price is going to
take a major slide until a scalability solution
is implemented.

Yes it is a buying opportunity but who knows
how long it will be until a new paradigm rises.

Not just, but it's mostly drama. Bitcoin Classic already has the support of a majority of the big mining pools and exchanges even before it actually started! Check out the supporters at https://www.bitcoinclassic.com/

Pretty sure the fork will come and it will be successful this time.

You know why it might succeed this time? These are the reasons :

1. Gavin saw the loophole --> The majority of the community wants smaller block size increases in some form.
2. Most people did not want the IP Blocking / Blacklisting features of the previous proposal. {This was removed now}
3. Most people did not like his partnership with Mike Hearn {He is making the same mistake again, with his new partnership with Long}

The strategy to take back the leadership and the control is to tweak the proposal for more people to find it acceptable. If he is successful in that, he will once again be in the

driver position and he can chose his passengers. He might even give his old pal, Mike Hearn a lift in his new car. Who wants to wager a bet on that?