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Author Topic: Holy Shit! Bitcoin is tanking!  (Read 1695 times)
MataHari
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April 12, 2013, 02:13:22 AM
 #1

Holy shit.
http://i.imgur.com/PIewHtE.png

Fuck this, I'm cashing out and cutting my losses. I'd rather lose at this much than at $15.

If you have half a mind, you'd sell too.
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Mike Christ
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April 12, 2013, 02:15:10 AM
 #2

Bitcoin's been tanking for a while Tongue

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April 12, 2013, 02:17:39 AM
 #3

Nice try newb  Roll Eyes

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April 12, 2013, 02:18:13 AM
 #4

Could you be any more obvious about wanting other people to sell so you can get cheap coins?

If you actually were panicking, you wouldn't tell anyone in the hopes that someone else would buy your coins for a good price. If you tell everyone the coins are worthless, no one will cash them out for you!



That cake you have doesn't look very good. I guess I'll make the sacrifice and eat it for you.

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April 12, 2013, 02:19:03 AM
 #5

(Not to say that it isn't going to go down further, though  Tongue)

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MataHari
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April 12, 2013, 02:20:15 AM
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Could you be any more obvious about wanting other people to sell so you can get cheap coins?

If you actually were panicking, you wouldn't tell anyone in the hopes that someone else would buy your coins for a good price. If you tell everyone the coins are worthless, no one will cash them out for you!



That cake you have doesn't look very good. I guess I'll make the sacrifice and eat it for you.

Fuck you, I got mine. I take sure bets, not dumb bets. If you want to hang in when it hits 10 or 15, i'll be right there to help you cash out. Until then, I'm not hanging around this sinking ship.

77 is better than dick.
Mike Christ
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April 12, 2013, 02:21:25 AM
 #7

People would be crazy to sell BTC at $15.  It costs more to mine the fucking things.

MataHari
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April 12, 2013, 02:23:53 AM
 #8

http://i.imgur.com/DWmFwQj.png

See what i mean, keaton? I'm offering you the service of a fair warning. If you were drowning and I thew you a line, would you take it?

No? Fine by me, you can suffer all you want. I'm just glad I cashed out when I did.
yoohoo
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April 12, 2013, 02:31:34 AM
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We will se how it will be going.
Bindim
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April 12, 2013, 02:42:12 AM
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How does your 77 sit now, Matahari ^^?
MataHari
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April 12, 2013, 02:45:21 AM
 #11

Well, piss.

At least I'm not taking dumb bets anymore.

Fluctuations like this aren't stable enough to pay my rent on. I'm not telling my kid we can't eat because cashing out isn't cost-prohibitive.
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April 12, 2013, 02:46:52 AM
 #12

MtGox at $120 now  Wink

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MataHari
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April 12, 2013, 02:48:31 AM
 #13

And I stand behind my statement. I'd rather pay rent and feed my child then gamble on fluctuations as wild as this.
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April 12, 2013, 02:49:24 AM
 #14

128 now
redbos
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April 12, 2013, 02:53:25 AM
 #15

hmm, sometimes i wonder if bitcoin is overrun with greed...

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April 12, 2013, 02:54:24 AM
 #16

cash out your bitcoin and when u get the coin...

tell your kid.. here kid eat this coin..

 Roll Eyes

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April 12, 2013, 02:54:46 AM
 #17

heh, don't get into trading and stock markets, you'll see this all over the place, yes, BTC will fluctuate, but there is worse out there, and backed by gold or something from the banks
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April 12, 2013, 02:55:06 AM
 #18

Holy shit.


Fuck this, I'm cashing out and cutting my losses. I'd rather lose at this much than at $15.

If you have half a mind, you'd sell too.

How do you feel now, on $135? Smiley

Gold is old people's Bitcoin. (c)
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April 12, 2013, 03:15:47 AM
 #19

I cashed out when it hit 110 a week or 2 ago, then watched it go up to 250 now back down to under 100, so i'm feeling kinda eh right now.
Cashed out my ltc at just over $4 a piece as well.
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April 12, 2013, 03:15:56 AM
 #20

never seen a swift correction before ?  This was a healthy nessesity for the bitcoin market. and if i may say so myself damn predictable.  I know i made money Smiley
belcat
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April 12, 2013, 03:25:16 AM
 #21

You don't actually LOSE money until you cash out.  So if you bough for more than it's worth, it might be better to just hang onto it.  This isn't the first ride Bitcoin takes you know...
I mined my first 4 bitcoins some 1.5 years ago, when it ramped up to 150 or so then tanked down to 7.  I stopped mining or looking at it at that point, then a week ago I decided to take a look... what luck, it was at $140, so I sold two of them.  Then for the heck of it, I set one at $250... wow it sold too.  So I am kinda happy right now Wink
But my point stands - you don't lose until you sell, so keep 'em around if you're going to lose crazy cash on it.
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April 12, 2013, 03:39:41 AM
 #22

Its not bitcoin tanking.. its fiat that is! just kidding ...

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Mike Christ
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April 12, 2013, 03:40:09 AM
 #23

Its not bitcoin tanking.. its fiat that is! just kidding ...

Ha haaa...

No but seriously.

redbos
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April 12, 2013, 04:35:00 AM
 #24

any suggestions on the best places to buy and trade? mtgox seems pretty crappy

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Mike Christ
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April 12, 2013, 04:36:34 AM
 #25

any suggestions on the best places to buy and trade? mtgox seems pretty crappy

vircurex, bitstamp, btc-e, are the ones off the top of my head.  Not sure if they're good or not, but they're not Gox.

Then of course, you can always trade locally.

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April 12, 2013, 04:36:42 AM
 #26

btc-e
crisuch
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April 12, 2013, 04:42:12 AM
 #27

It's only an adjust for exponential rally in previous days.... but it will go up slowly.
GiLa
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April 12, 2013, 04:43:23 AM
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What I'm trying to understand is people complaining about the worth of bitcoin going down. Why people didnt do the same thing when it was going up?
Mike Christ
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April 12, 2013, 04:46:44 AM
 #29

What I'm trying to understand is people complaining about the worth of bitcoin going down. Why people didnt do the same thing when it was going up?


They did.  Anyone who wanted to buy more (the bears) was saying something like, "The price is too high, I don't want to buy into it.  The price should tank so I can get some more at a low price."

Then BAM here it comes.

So then anyone who was satisfied with the amount of coins they had and wanted the price to higher (the bulls) was all like, "Dude what the eff, this is bull(shit)."

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April 12, 2013, 04:49:43 AM
 #30

What I'm trying to understand is people complaining about the worth of bitcoin going down. Why people didnt do the same thing when it was going up?


They did.  Anyone who wanted to buy more (the bears) was saying something like, "The price is too high, I don't want to buy into it.  The price should tank so I can get some more at a low price."

Then BAM here it comes.

So then anyone who was satisfied with the amount of coins they had and wanted the price to higher (the bulls) was all like, "Dude what the eff, this is bull(shit)."

Suffering is a part of life, simpler explanation.

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GiLa
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April 12, 2013, 04:50:24 AM
 #31

fair enough
acro1
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April 12, 2013, 04:52:33 AM
 #32

Everyone relax!!! We knew this would happen. MtGox is under a massive Ddos. There are powers higher up who do not like the idea of a decentralized currency and will commit a number of attacks and manipulations to kill bitcoin, but they can't!!!! Not if everyone relaxes and understands how it works. YES, there will be a crash (which we saw yesterday) and it may continue, but I am certain the price will rise again!!

Bitcoin will be under attack for a long time to come and if everyone panics and does what the powers that be want us too (panic, sell and get out of the market forever because were scared) then their plan will work. But I know too many people who will not let this happen.

Do not sell right now!!! Keep mining and holding your coin, if it falls hard, buy!!!

They can try to stop the currency and manipulate it but bitcoin will be around another 100 years my friends!!!!!
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April 12, 2013, 04:53:51 AM
 #33

I'm hoping it goes down more in the next week so I can buy some more.
Wish I hadn't sold my last coin for $100 the other day.
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April 12, 2013, 05:04:02 AM
 #34

The bubble has burst! It was bound to happen at some point. Now we all just have to wait until they bounce back up eventually.
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April 12, 2013, 05:10:54 AM
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Everyone relax!!! We knew this would happen. MtGox is under a massive Ddos. There are powers higher up who do not like the idea of a decentralized currency and will commit a number of attacks and manipulations to kill bitcoin, but they can't!!!! Not if everyone relaxes and understands how it works. YES, there will be a crash (which we saw yesterday) and it may continue, but I am certain the price will rise again!!

Bitcoin will be under attack for a long time to come and if everyone panics and does what the powers that be want us too (panic, sell and get out of the market forever because were scared) then their plan will work. But I know too many people who will not let this happen.

Do not sell right now!!! Keep mining and holding your coin, if it falls hard, buy!!!

They can try to stop the currency and manipulate it but bitcoin will be around another 100 years my friends!!!!!

+1

imo the only way these powers can destroy this idea is to buy more than 51% the bitcoins on the market and keep doing the stuff we experience right now at mt. gox for the next decade.
besides i kinda see ripple as a try to lure people away from bitcoin.
one power in control of all currency at the beginning, and there exist 100 billions, so now and then more ripples can be pushed into the market for stabilisation (sounds like fiat to me)

the whole rollercoaster ride will smooth down exponentially with the time.

Let's think in months years decades, but not in hours and days (besides second chart in this thread is measured in 10min-steps...doesn't represent anything)

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April 12, 2013, 05:11:07 AM
 #36

meh....

The question for btc isnt the value of the coin, itll all shake out.  The questio is do YOU believe in it as a viable idea?

The way I see it, BTC is the Cayman Islands for the Joe Blow middle america guy.  I can take payments, send payments anywhere in the world instantly and have it off the grid, free from tax... yeah, just call me Bit Romney.
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April 12, 2013, 05:12:46 AM
 #37

...and when mt. gox is open again, just listen to this:
http://www.youtube.com/watch?v=NG1qooBzE2w

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April 12, 2013, 05:16:48 AM
 #38

...and when mt. gox is open again, just listen to this:
http://www.youtube.com/watch?v=NG1qooBzE2w

That was great
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April 12, 2013, 05:17:47 AM
 #39

Quite expected.
hlynur
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April 12, 2013, 05:45:50 AM
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every newbie to bitcoin has to realize that we take part in an experiment whose outcome lays in the future 5 to 10 years.
it's not about the quick buck.
I watched the whole thing just for about two months before i decided to take a ride.
and got burned heavily in the last to days (ran right into the constructed bulltrap after the big crash at 260$, buying at 160$)
but as long as its just some of my money that was lying around, doing nothing but loosing value over the time (I'm in €-land)
I couldn't care less.
the problem at the moment is the centralisation of bitcoin with mt. gox trading more than half of the supply, so every other exchange is running behind them like little ducklings.
but that problem is regulating itself already with people moving more to the other exchanges.
in this way it's more difficult for the big players to disturb the whole market with their pumping and dumping style.
i think decentralisation will relax this whole thing and the ride is getting smoother and more stable.


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April 12, 2013, 06:14:55 AM
 #41

I just put on mah boots, and mah hat and mah spurs.

Gentlemen and ladies.

The rodeo is on!
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April 12, 2013, 06:21:48 AM
 #42

I just put on mah boots, and mah hat and mah spurs.

Gentlemen and ladies.

The rodeo is on!

The rodeo on the back of large investors?
Like Winklevoss twins who can drive the bitcoin value how they wish.
Nothing against the brothers. Just that the market can't be healthy if people can own percents of whole currency.

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April 12, 2013, 06:25:44 AM
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They claim the have only 1% of the bitcoins
NY11giants
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April 12, 2013, 06:26:05 AM
 #44

Ill gladly ride with the twins.
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April 12, 2013, 06:27:09 AM
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They claim the have only 1% of the bitcoins

only?
hlynur
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April 12, 2013, 06:28:02 AM
 #46

sometimes i it seems to me as if they use the bots with microselling and some big dumps now and then to shake the market like a tree of apples to get the coins that fall to the ground

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April 12, 2013, 06:28:28 AM
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Ill gladly ride with the twins.

opportunists....
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April 12, 2013, 06:30:29 AM
 #48

I'm constantly reading other thread.
seems like the bots are really a big problem, triggering the mass panic:
https://bitcointalk.org/index.php?topic=85687.22120

we must spread this!
 everybody should be aware of that!!!!

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April 12, 2013, 07:13:26 AM
 #49

I'm constantly reading other thread.
seems like the bots are really a big problem, triggering the mass panic:
https://bitcointalk.org/index.php?topic=85687.22120

we must spread this!
 everybody should be aware of that!!!!


yeah any large investor can bot the masses and then pull the carpet.

luckily there are alternative currencies forming like mushrooms on a rainy year.
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April 12, 2013, 07:21:02 AM
 #50

Relax btc is not tanking it is because people become worried & start to panic about the dramatic decrease in btc price and feel they have to start selling. Don't worry nothing to fear as we have seen this since the begging of btc it will steadily increase. the price of btc as we all know fluxuates just as a stock market. And the btc community needs to find other exchanges other than mtgox as they have a monopoly on the btc people and the only way to stop this is to start and deal with other established btc exchanges..

PS and the so called "Ddos attack on mt gox" is becoming more clear that this is just another way for them to gain a deathgrip over the bitcoin community so start looking for other exchanges we will not let the people at mt gox dick us around anymore!!!

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April 12, 2013, 07:30:02 AM
 #51

Holy shit.
http://i.imgur.com/PIewHtE.png

Fuck this, I'm cashing out and cutting my losses. I'd rather lose at this much than at $15.

If you have half a mind, you'd sell too.

SO i guess your philosophy is buy high, and sell low ?

Yeah, these network exploiters out there are loving your comments about now.
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April 12, 2013, 07:30:41 AM
 #52

People would be crazy to sell BTC at $15.  It costs more to mine the fucking things.


I know people who would spend $10,000+ on coins if it ever dropped that low
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April 12, 2013, 07:40:46 AM
 #53

every newbie to bitcoin has to realize that we take part in an experiment whose outcome lays in the future 5 to 10 years.
it's not about the quick buck.

What you describe has little to do with bitcoins, and everything to do with normal investment and non speculation commodity trading.

Really, it is common sense. As for the OP, silly person should have been buying at $77 per, and paying closer attention. But attempting to "daytrade" over the internet at this point with all the DDOS's happening is a recipe for suicide.
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