In for the money? Get lost and good riddance!

[Lethn]

One thing the critics are right about is we have too many speculators in Bitcoin, what we need are merchants so that everything spreads out and people are using the currency for ordinary stuff rather than just messing with exchange rates, once we get that the prices should eventually stabalise because the speculators won't be able to have so much influence just from pouring in a few thousand into the exchanges.

[BTCisthefuture]

I can't hate anyone for wanting to get in on BTC to make money.  At the end of the day all of us want to make money to a certain extent. Money doesn't buy happiness but it certainly allows us to take care of our responsibilities easier and gives us more time to enjoy things we enjoy which cost money to enjoy.

Bitcoin is an open currency for all to enjoy and play with how they see fit. Even if I don't agree with what they do with it.  My hope is that in the long run things will smooth out and the overall market will dictate what happens with bitcoin, not just a few speculators.

[antibanker]

hold onto ya coin!

don't sell to the Je*

[Smedley B]

"In for the money? Get lost and good riddance"
I find that offensive.

i don't understand what i'm reading here.
the "new money" crashed the price? most likely the new money triggered sell orders set by the "old money" and i'll bet most of the "old money" sold into the slide and picked up cheap btc on the other side doubling their holding, whilst the new money were left with just a few btc, can you say ponzi?
reckon silverback has it right, if you believe in btc, then spread it around so everyone has a stake, setup a website and give it away, but not fractions of pennies like the free sites who rake it back and some with their ads, give away full btcs to us that want to support it but don't have the means to purchase it. bet you don't.

[tclo]

"In for the money? Get lost and good riddance"
I find that offensive.

i don't understand what i'm reading here.
the "new money" crashed the price? most likely the new money triggered sell orders set by the "old money" and i'll bet most of the "old money" sold into the slide and picked up cheap btc on the other side doubling their holding, whilst the new money were left with just a few btc, can you say ponzi?
reckon silverback has it right, if you believe in btc, then spread it around so everyone has a stake, setup a website and give it away, but not fractions of pennies like the free sites who rake it back and some with their ads, give away full btcs to us that want to support it but don't have the means to purchase it. bet you don't.

The idealists are mad that big money and big corporations and Wall Street are coming in and wrecking their fun game....and proving that it won't be the idealistic currency of the future that they envisioned.

And the casual miner is upset that big money is coming in and making their Mom & Pop mining operations obsolete.

I don't blame them for being irritated but it's just the way of the world that Big Money always wins in the end.  They have the legislators in their pockets to make anything legal or illegal that they want and they will take over Bitcoin and profit from in for a few months or years and then probably leave it in shambles.  Or they will just stick with it and it will become something that the overwhelming majority of the people can't profit from, like the larger stock market.

It's just the way it is and they always win and always will...

[tclo]

Bitcoin prices fluctuating wildly is not good for Bitcoin. Hopefully this will put off the speculators who have been making that happen.

Agree with the OP.

You have it totally backwards...speculator and daytraders NEED wildly fluctuating prices to exploit and make money.   They have been buying at the lows and selling at the highs for the past few days.  They want and need that to continue.  When the price stabilizes, is when they make leave, but only temporarily.

[Gabi]

I don't get why people panic: there are cheap bitcoins to buy, it is wonderful

[batcoin]

'Dude you have no idea what you are talking about.'

You have no rebuttal, because you know I'm right. There is no difference between a central bank taking people's wealth by printing and you bunch taking people's wealth by knowing about bitcoin early. None at all. You are taking wealth out, leaching it away from people who want to use the bitcoin as a currency. In your position you are acting rationally, nothing to be ashamed of. But if you're honest you know I'm right.

I think you should really be hunting down the assholes that decided to buy BTC at cheaper prices on the way down over the last two days. They are the true criminals! How DARE they destroy the value of Bitcoin like that! They should have offered more money instead of less to keep the prices higher!

Jesus fucking christ. People voluntarily wanted to sell and others voluntarily wanted to buy. One side thought the price was going to go down, the other side thought the price was going to go up. It's a gamble for each side even if the intention is to buy for the purposes of using Bitcoin as a currency. No one extracted anything from anyone. They simple agreed upon a price which coincided with the rest of the market at the time of sale. Two people can (and sometimes do) just as easily agree upon prices that are no where near the market price for any number of reasons. You poor miserable bastard. Woe is you for not finding Bitcoin earlier and making your own fortune off it. (Or maybe you did find it earlier and now you are butthurt for not investing in it sooner.) You might want to work on your google skills and maybe you can do better on the next big thing. Then you can put your money where your mouth is and spread your wealth to those who unfairly found your investment so much later than you did. It is your choice after all.

[Dansker]

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.

What were you boys doing? 

[The 4ner]

I agree! Great post. Btw anyone on here currently selling any BTC? I'm looking to purchase 1.