My thoughts on the price, and why it is going down

[Bjork]

Here is some thoughts about why the price is sliding down, and why it will continue to.

1. Silk road has been having major problems.  This is cutting the demand for BTC dramatically.  In-case anyone is unaware a huge DDOS has been occurring for weeks now.

2. Bitinstant has been having problems and, the problems with silk road are further dropping the amount of people using bitinstant. Bitinstant was a huge "push" up for the price, as all of those people were placing market orders.

3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets.  Perhaps people are worried about this.



Without SR and Bitinstant, bitcoins are not worth anywhere near $150+

[UltimateReaper]

Here is some thoughts about why the price is sliding down, and why it will continue to.

1. Silk road has been having major problems.  This is cutting the demand for BTC dramatically.

2. Bitinstant has been having problems and, the problems with silk road are further dropping the amount of people using bitinstant. Bitinstant was a huge "push" up for the price, as all of those people were placing market orders.

3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets.  Perhaps people are worried about this.



Without SR and Bitinstant, bitcoins are not worth anywhere near $150+

Negative sentiment could be doing it, manipulation could be doing it, fear could be doing it, dumping could be doing, bad news could be doing it, heck, you know what? maybe its a combination of everything. This stuff is impossible to calculate, but if you have an idea of where things are going, profit off it.

I can see Bitinstant as being important, but does SR really mean much?

[jojo69]

coinlab suing gox for 75M  ?

[Bjork]

Here is some thoughts about why the price is sliding down, and why it will continue to.

1. Silk road has been having major problems.  This is cutting the demand for BTC dramatically.

2. Bitinstant has been having problems and, the problems with silk road are further dropping the amount of people using bitinstant. Bitinstant was a huge "push" up for the price, as all of those people were placing market orders.

3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets.  Perhaps people are worried about this.



Without SR and Bitinstant, bitcoins are not worth anywhere near $150+

Negative sentiment could be doing it, manipulation could be doing it, fear could be doing it, dumping could be doing, bad news could be doing it, heck, you know what? maybe its a combination of everything. This stuff is impossible to calculate, but if you have an idea of where things are going, profit off it.

I can see Bitinstant as being important, but does SR really mean much?

  
IMO, SR is responsible for probably half... if not more of bitinstant's business.  Personally I know 4-5 people who have used bitinstant, and every single time the coins have gone to SR

[N12]

Price is going down because a price bubble has formed and burst, and we are now in the process of deflating it.

[lucif]

4. Coinlab sue mtgox
5. Its simply bubble and bubbles burst

[adamstgBit]

link for #3 please

[stereotype]

link for #3 please

http://qz.com/81167/bitcoin-75-million-coinlab-lawsuit-against-mt-gox-could-destroy-currency-exchange/

[adamstgBit]

3. This is less important (imo) but on May 15th we are all supposed to "upgrade" our wallets.  Perhaps people are worried about this.

link plz

[pheaonix]

1. sr accounts for 1% of trade. is easy to see, just watch mixers.
2. news to me
3. wat

[Bjork]

link for #3 please

http://bitcoin.org/may15.html


I don't think the impact is very much tbh

[Brushan]

link for #3 please

http://qz.com/81167/bitcoin-75-million-coinlab-lawsuit-against-mt-gox-could-destroy-currency-exchange/

From the letter of Peter Vessenes it looks like he is suing MtGox because of the lag? Or did i misunderstand it?

[adamstgBit]

link for #3 please

http://bitcoin.org/may15.html


I don't think the impact is very much tbh

fuck this i'm outta here

[Babylon]

There's also an alternative to Silk Road, called Atlantis, that has been up consistently and has just as good a selection of products.