*sigh* ... fixed it ... *you're welcome*
It's a currently valued at less than $3B cap "currency" with worldwide combined books containing legitimate fiat funds of probably less than $50M total so let's call it 50:1 at best for a value to actual money ratio aka bad , so even the big holders only 1/50 gets to cash out when *the* collapse occurs ...
There's 1000 people with combined millions of coins aka the top of the pyramid architects/early miners/pyramid participants and they got all those coins basically for free just by running a piece of software on their laptops so now they can dump indefinitely and make guaranteed $$$ from shorting in the process , as well as continually re-buying lower and continuing to dump if desired ...
Also there's 3600 coins produced daily mostly by industrial miners which by itself is too much for the market to handle if they were all being sold continuously ...
Also there's give or take 1,000,000 stolen bitcoins floating around the internet out of the 14,000,000 supply , which may or may not have been already dumped and those are also kind of "free" in that they were stolen ...
Add to that the likelihood of the entire price history of bitcoin having been dictated by the fraudulent exchange mtgox , which was the only bitcoin exchange for years and years from the beginning and cooked it's books to the tune of billions of dollars and the chart history from pennies to 1200 to now cannot be trusted whatsoever until after they collapsed , and since they collapsed it's been nothing but down , indicating complete lack of genuine adequate support at *any* price since the ATH ...
Toss in lack of transparency or regulation of any kind for the existing exchanges so it's fairly likely at least a few are actively insider trading/rigging the market/pulling a mtgox ...
Fuck ... take your pick as to why it's going down ...
It goes up only if major $ comes in and buys millions worth in a matter of hours to force the price up / when exchanges use false money or existing customer funds to force the price up through illegal insider trading ...
Poll
