BTC falling sharply!! Why?

[Pangia]

What's going on folks? BTC in the $170 and falling. MtGox has a significant lag. Is this another DDOS?

[mufa23]

What's going on folks? BTC in the $170 and falling. MtGox has a significant lag. Is this another DDOS?

Yeah, just another DDoS like last week. If you can get in, buy some now while it's low. Once the attack stops, it's going to go back up.

[Pangia]

Can't see real time prices on Gox, but BTC-e.com has BTC at 133.

How do we know that this is another DDOS?

[dontek]

Can't see real time prices on Gox, but BTC-e.com has BTC at 133.

How do we know that this is another DDOS?

WE don't. You can only speculate. Which is what this is all about, no?

People seriously need to calm down and just chill out for a few hours.

Do you not remember last week when the same thing happened? Then it came back and within a day broke the $200 barrier?

My guess is:
DDOS attack slows down the site
People (NOOBS) freak and execute sell orders because they invested money they couldn't afford to invest.
Rest of the market keeps dropping.
Meanwhile, the rest of us are just chillin' and waiting for this to pass and wake up tomorrow with the market being back in the low 200's.

[mufa23]

Can't see real time prices on Gox, but BTC-e.com has BTC at 133.

How do we know that this is another DDOS?

Because they did the same thing last week. Bitcoin sites started acting up, some people got scared, the others bought coins low. I'm hitting myself over the head right now for not selling last night, and having a little extra money lying around in an exchange to buy some at a low price.

If you're worried, I'll buy your coins via PP for ~$100 a piece.

[Pangia]

I'm a Noob, but i haven't sold my .07 BTC holdings yet.  LOL. She'll rise again. Staying calm.

[TheDarKnight]

There have been quite a lot of negative articles flying about lately fuelling fears about a Government BAN on BTC or a popping bubble leaving people with nothing and when there's a problem with DDoS or other errors on websites, people sell up because they want to be the ones buying-in at a lower price. As soon as they see that fall they all go "CRAAAAAAAAASSSHHH!!!" and they quite literally, as is typical of trollbox at BTC-e, will crash it for a while themselves, singlehandedly so to speak. Well no worries, Bitcoin will probably rally and stabilise around $200 by the end of the day. After all, ITALY is about to bailout of the EURO pretty soon, so there will be a new influx of users coming along....prontissimoooo!!!  

[dontek]

I'm a Noob, but i haven't sold my .07 BTC holdings yet.  LOL. She'll rise again. Staying calm.

Thumbs Up. Just relax. Take a walk or go see a movie or something. The market will re-stabalize in a few hours then it will head upwards.

[jayguar]

The price is rising now. I guess is that it would reach $200 within couple of hours.

[qxzn]

PANIC SELL SELL SELL

om nom cheap bitcoins

[naypalm]

Don't worry, if if falls to 50 cents, I'll buy up all your bitcoin

[TheDarKnight]

PANIC SELL SELL SELL

om nom cheap bitcoins

Well that's what I'M doing, and I've a bit of cash to do it with too! 

Are we not in a double-dip recession? 

[superbit]

The exchanges are all SO different, it is impossible to know what price is right.  I manged to get some cheap on btc-e and sell them for $40 more on bitfinex.

[poblico]

$130 the last stable point.
Can we safely say all the speculators have fleed and will probably actually just buy again when it stabilizes and drive the market back up?

[justusranvier]

The more things change the more they remain the same.

Goxxed

The act of being screwed by an online merchant, specifically due to the merchant being incompetent and amateurish. Derived from the debacle of the mtgox.com Bitcoin trading site's crash and burn and the resulting chaos trying to re-open. Poor communication, outright lies, scapegoats, Oh My!
Dude, you've been goxxed.

by ledbetter Jun 26, 2011

[dawn]

Huge Sell -> Price Drop -> Panic Sells + DDOS -> Price Drop -> Someone who cashed out can now buy back and make huge profits.

Conclusion: Mt.Gox is fucking unprofessional, I'll hold my coins and only trade it in future at localbitcoins.com

And yes, too many stupid trolling kids which increase the panic.

[virtualmaster]

bitparking is not running
Mt Gox has problems
BTC-E has problems
bitcoincharts.com also not running
bitcointalk seems to be also overloaded

May be it is more than pushing down the prises and just to buy cheap bitcoins.
May be somebody wants to destroy bitcoin. Somebody who is interested in it and has the financial power for it.

[blockbet.net]

Boy, I sure remember my first Bitcoin crash. Sadly, these new ones don't evoke the same kinds of feelings any more

Anyway, as long as it isn't attributed to any major real life event (for example, MtGox seized, blockchain hacked, World War 3 etc.) then I don't see any reason to panic.

[VforVictory]

Boy, I sure remember my first Bitcoin crash. Sadly, these new ones don't evoke the same kinds of feelings any more

Anyway, as long as it isn't attributed to any major real life event (for example, MtGox seized, blockchain hacked, World War 3 etc.) then I don't see any reason to panic.

Don't jynx it. >_>

[Smedley B]

don't know why sentiment seems negative.
was a big opportunity to make money/increase btc holding