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mgio (OP)
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June 09, 2013, 05:59:28 AM |
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I really don't know why bitcoin has been slumping recently.
Hopefully the past week will at least convince people that difficulty does NOT drive price. If anything price drives difficulty.
I hope we don't go under 100, but I wouldn't be too surprised if we do.
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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OurSUBMARINEGo
Newbie
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Activity: 40
Merit: 0
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June 09, 2013, 06:03:58 AM |
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I certainly hope so. I need more coins.  |
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massivebitman
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June 09, 2013, 06:06:54 AM |
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I just pulled all my money out.
I'd say a dip below 100 is almost certain.
Those walls at 100 don't look real to me
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Zotia
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June 09, 2013, 06:09:37 AM |
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We are at 101 right now.
Looks like we will be under 100 soon.
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worldinacoin
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June 09, 2013, 06:10:56 AM |
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There is a 10k wall at $101.18, hopefully this holds and we can see a rebound.
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massivebitman
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June 09, 2013, 06:11:57 AM |
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lol
Seems like the last crash all over again.
Gradual decline..
Only people buying now would be the silk road users / gamblers.
Still it makes it pretty useless when you know your money will be worth a lot less in a few hours
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bitwhizz
Legendary
Offline
Activity: 910
Merit: 1000
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June 09, 2013, 06:12:33 AM |
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now is the time to buy
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lucas.sev
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June 09, 2013, 06:12:57 AM |
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lol
Seems like the last crash all over again.
Gradual decline..
Only people buying now would be the silk road users / gamblers.
Still it makes it pretty useless when you know your money will be worth a lot less in a few hours
No no, we have thriving economy, silkroad is so 2011!  |
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massivebitman
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June 09, 2013, 06:13:32 AM |
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There is a 10k wall at $101.18, hopefully this holds and we can see a rebound.
I doubt it's going to hold. There was a wall at 104-5 earlier. Not sure what happened to that. My thoughts are if there's any single wall, it's just a rich person who put it there to prop up the price.. They don't really want to buy 10k worth, otherwise they'd have done it some other way. |
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CryptoMinter
Newbie
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Activity: 53
Merit: 0
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June 09, 2013, 06:14:32 AM |
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There is a 10k wall at $101.18, hopefully this holds and we can see a rebound.
I doubt it's going to hold. There was a wall at 104-5 earlier. Not sure what happened to that. My thoughts are if there's any single wall, it's just a rich person who put it there to prop up the price.. They don't really want to buy 10k worth, otherwise they'd have done it some other way. The coins changed hands... well maybe into the same hands who know's but the trade was executed for the 20k+ coins that stood between 106 and where we are now. |
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freedomno1
Legendary
Offline
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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June 09, 2013, 06:15:59 AM |
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Well this is interesting
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Believing in Bitcoins and it's ability to change the world
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worldinacoin
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June 09, 2013, 06:16:03 AM |
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I guess the Wall shifted again and again. It seems to be shifting again. It is time to go in for those who needs Bitcoin I guess.
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bitwhizz
Legendary
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Activity: 910
Merit: 1000
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June 09, 2013, 06:16:32 AM |
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if the 100 dollar walls are broken, its going down to 75-80,
you heard it here first
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tvbcof
Legendary
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Activity: 4592
Merit: 1276
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June 09, 2013, 06:16:55 AM |
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I really don't know why bitcoin has been slumping recently.
Hopefully the past week will at least convince people that difficulty does NOT drive price. If anything price drives difficulty.
I hope we don't go under 100, but I wouldn't be too surprised if we do.
Probably uncertainty about Bitcoin's trajectory. It's starting to smack people between the eyes that some of the promises of the solution are mutually exclusive, and it is not nearly clear which way things are going to go. It strikes me as a reasonable hypothesis that certain of the promises (high scaling, low fees, de-centralized peer2peer, anonymity, etc) were simply marketing hype to draw people into the solution and thus pump up the price. I've not sensed much price buoyancy for the last few weeks. I think maybe we are in a genuine bear market like around this time 2 years ago. If that pattern repeats, in another quarter or two we might see $20 BTC, then a year or two long slow ramp and hopefully another spike. Of course there is always the possibility for external events like a currency crisis in mainstream-land and that sort of thing. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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superduh
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June 09, 2013, 06:21:35 AM |
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40k coins is insignificant volume
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ok
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bitwhizz
Legendary
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Activity: 910
Merit: 1000
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June 09, 2013, 06:21:59 AM |
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there is no point in predicting bitcoin, or reacting to the price drops and rises, bitcoin is still at the random walk stage, and from my experience will do the opposite of what you think and do the opposite of the opposite you think, in other words, buy and hold, be scared if we reach 50 dollars in which case buy more
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lucas.sev
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June 09, 2013, 06:22:55 AM |
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I guess the Wall shifted again and again. It seems to be shifting again. It is time to go in for those who needs Bitcoin I guess.
Nope, all but around 2k of the wall was real. There is someone there sitting with a lot of 106 and 105 coins. |
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massivebitman
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June 09, 2013, 06:32:08 AM |
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40k coins is insignificant volume
Not anymore |
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mgio (OP)
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June 09, 2013, 06:42:31 AM |
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you guys realize that everytime Bitcoin crashes the chances it will succeed go down signficantly.
You may want "cheap coins" but if bitcoin goes below 100 it may never go above 100 again?
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bitwhizz
Legendary
Offline
Activity: 910
Merit: 1000
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June 09, 2013, 06:44:28 AM |
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anyone just see that 1500 bitcoin dump
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