In for the money? Get lost and good riddance!

[joecooin]

I have seen people panicking today. Real, actual panic and fear in their eyes. They were into Bitcoin for a couple of weeks only, not even understanding the technology properly, not to speak of the ideals behind crypto currency. They went in for the money, to make money and now they lost money and are scared shitless and dissappointed to the bone.

And I have seen people who were very relaxed today. People who might in theory have lost a few 100k in terms of euros or dollars in the last 24 hours.

Last night, when shit started I was sitting together with Mike and Philip to get some Bitcoin related stuff hacked together. We saw the turmoil starting, tried our best to analise and understand what was going on and then continued working. After a couple of hours I realised that none of us had even checked the exchange rate for those hours, being concentrated on work to bring Bitcoin forward.

There's people who are into Bitcoin to change the world for the better.

And there's people who are in it for the bucks.

The latter have created this exchange rate madness and will hopefully be put off again now for a while.

As one of the former I am relieved that this market overheating bullshit has come to a halt and that people who are after the money will now most likely stay away again for a while, so we can keep on developing this wonderful technology and watch it grow slowly, gradually and sustainably.

Actually, from every aspect I look at this event I find it positive for the further development of Bitcoin. This is worth much more to me and the most people in the community than what or what not our coins might be worth in fiat right now. And if people who came in for the money are getting out again now:

good riddance!

Just my 5 satoshis.

Joe

[doobadoo]

hear hear!

[t3c]

excellent post

[Luckybit]

I have seen people panicking today. Real, actual panic and fear in their eyes. They were into Bitcoin for a couple of weeks only, not even understanding the technology properly, not to speak of the ideals behind crypto currency. They went in for the money, to make money and now they lost money and are scared shitless and dissappointed to the bone.

And I have seen people who were very relaxed today. People who might in theory have lost a few 100k in terms of euros or dollars in the last 24 hours.

Last night, when shit started I was sitting together with Mike and Philip to get some Bitcoin related stuff hacked together. We saw the turmoil starting, tried our best to analise and understand what was going on and then continued working. After a couple of hours I realised that none of us had even checked the exchange rate for those hours, being consentrated on work to bring Bitcoin forward.

There's people who are into Bitcoin to change the world for the better.

And there's people who are in it for the bucks.

The latter have created this exchange rate madness and will hopefully be put off again now for a while.

As one of the former I am relieved that this market overheating bullshit has come to a halt and that people who are after the money will now most likely stay away again for a while, so we can keep on developing this wonderful technology and watch it grow slowly, gradually and sustainably.

Actually, from every aspect I look at this event I find it positive for the further development of Bitcoin. This is worth much more to me and the most people in the community than what or what not our coins might be worth in fiat right now. And if people who came in for the money are getting out again now:

good riddance!

Just my 5 satoshis.

Joe

Everyone is in it for the money. But we aren't all in it strictly for the USD.
Why get in Bitcoin if you're so into the USD that you'll pull back out the same week you got in?

[Mike Christ]

I'm in it because screw fiat.

Everything else is icing on the cake

[Rodyland]

Well said - Bitcoin is too young and immature to handle the speculators that, to me, are the only reasonable explanation for what's happened the last 24 hours.

[Frozenlock]

[Elwar]

I am in it for the money.

Money called Bitcoin.

[Stunna]

I'm more interested in gaining enjoyment from the use of them rather than speculating the market.

[glitch003]

I am in it for the money.

Money called Bitcoin.

hah gotta get those BTCs, son!

[Elwar]

Nahh let them panic all they want. Pick up some chip coins meanwhile.

Unfortunately I know that in 3 days, by the time I get cash into MtGox, the price will be back to normal.

Too many people coming into the market for the price to continue down.

[ThorinIceland]

http://i.qkme.me/3tv01w.jpg

lol!

[mikegogulski]

Speaking as the Mike mentioned, I fully endorse the core of this sentiment, although I might not say "good riddance" with quite air that Comrade Joe does 

[HeroC]

Lol.

[bohanz]

if ya fo the fiat, yo stupid and worth squat

[gradient vector]

Unfortunately, bitcoin speculators will always be there. I just look at each bubble as an opportunity for those that got in early and really understand bitcoin to benefit twice over.

[darkmule]

Imagine, people into a new form of money are in it for the money!

Quelle horreur!

[BitBuster]

THIS.

[TheRenix]

Imagine, people into a new form of money are in it for the money!

Quelle horreur!

^^ This.   

[screamingservers]

So you are trying to spin a for profit attack on the bitcoin system as good for bitcoin? And that that is better than speculators buying into bitcoin and trading them for dollars. That is like saying that blowing up mountains is better than letting tourist ski down them. Fool!