Bitcoin Prices Crashing Now!

[cdog]

Im buying, great opportunity. How many investments can you expect such a huge return on?

I dont trade, I just buy when its cheap, and Ive made a killing doing this.

[BitChick]

Im buying, great opportunity. How many investments can you expect such a huge return on?

I dont trade, I just buy when its cheap, and Ive made a killing doing this.

Smart.  Very smart! 

Wish I had not gotten so emotional and bought as it went up.  It is a little hard to know how low it will go at times though.

[BobMarley]

cause people see the future of crytocurrency that will destroy bitcoin http://forum.emunie.com/

[BitChick]

cause people see the future of crytocurrency that will destroy bitcoin http://forum.emunie.com/

 I have never heard of emunie.  Of course that does not mean it is NOT better then BTC.

But BTC has a few things going for it-  It is the first to get widespread usage,  it has millions of dollars being thrown into it by VCs, it has had some press (good and bad) and many people have heard of it now, it is starting to be used as an actually currency by places, and I just saw this post:

https://bitcointalk.org/index.php?topic=250027.0

If BTC starts taking off in places like Africa, it will be really hard for emunie to catch up.  But who knows, there might be room for more players in this?

[porcupine87]

Im buying, great opportunity. How many investments can you expect such a huge return on?

I dont trade, I just buy when its cheap, and Ive made a killing doing this.

Many traders disagree with your opinion. I sold yesterday (not much, but a notebook worth). When the price rises 10$ from some level, I will buy again. They last few weeks that din't occur once...

[flipper]

BTC is literally like Gold. Falling...

I suspect many are dumping btc and jumping on gold. Not a bad strategy given gold's current price.

[BitChick]

BTC is literally like Gold. Falling...

I suspect many are dumping btc and jumping on gold. Not a bad strategy given gold's current price.

I had not even thought of that.  There are so many things that could affect the price.  I guess it is just the way it goes.

[newguy05]

hitting double bottom, major support around 60-65.  buying 100

[newguy05]

BTC is literally like Gold. Falling...

I suspect many are dumping btc and jumping on gold. Not a bad strategy given gold's current price.

nobody is jumping on gold, stop making stuff up. The crash is a combination of factors, take your pick

1) mtgox re-enabled cash withdraw, all the people who exchanged cash for btc to transfer out for safe keeping are doing the reverse trade now

2) i dont know how much this actually applies to btc specifically, but looking at it macro, interest rates are going up and market is stable. Under those conditions, you will see mass cash outflow from safe heavens like gold/silver, btc is in the same category.

3) asic preorder craze has died down, you had am/bfl/avalon/knc/terrahash etc.. asic orders/preorders all firing off all require btc as payment. Now that all those preorders have died down, there is not such a demand for btc.  On the flipside, some those btc received by those guys are getting converted to cash. Double whammy.

4) in the end view it as a part of your high risk diversified investment portfolio, if you have a majority of your networth in btc you should have cashed out a long time ago, noone to blame but yourself.

[semaforo]

   If you have a majority of your networth in bitcoin you better believe in bitcoin.

   I don't care what the price does because I'm participating in this movement because I believe in the potential for bitcoin to refresh the global financial structure. I am just going to try to continue spending bitcoin at any price, ideally making all of my purchases with them asap and cutting the banks out of my life. If all the speculators follow suit the amount of money being made buying high and selling low right now will seem truly laughable.

Every revolution requires sacrifice.

[souliouz]

But stay connected with reality

[newguy05]

  If you have a majority of your networth in bitcoin you better believe in bitcoin.

   I don't care what the price does because I'm participating in this movement because I believe in the potential for bitcoin to refresh the global financial structure. I am just going to try to continue spending bitcoin at any price, ideally making all of my purchases with them asap and cutting the banks out of my life. If all the speculators follow suit the amount of money being made buying high and selling low right now will seem truly laughable.

Every revolution requires sacrifice.

sadly the largest market for bitcoin by far is asic hardware purchases, with the sole purpose of generating btc to sell.

[DPoS]

  If you have a majority of your networth in bitcoin you better believe in bitcoin.

   I don't care what the price does because I'm participating in this movement because I believe in the potential for bitcoin to refresh the global financial structure. I am just going to try to continue spending bitcoin at any price, ideally making all of my purchases with them asap and cutting the banks out of my life. If all the speculators follow suit the amount of money being made buying high and selling low right now will seem truly laughable.

Every revolution requires sacrifice.

sadly the largest market for bitcoin by far is asic hardware purchases, with the sole purpose of generating btc to sell.

not totally..  i think a few will be tossed down the SR

[computerparts]

As more asics flood the market, bitcoin value will continue to tank

[newguy05]

As more asics flood the market, bitcoin value will continue to tank

what does asic = increased difficulty have to do with bitcoin tanking?

[mechs]

I am not sure I get that either.

[DPoS]

As more asics flood the market, bitcoin value will continue to tank

what does asic = increased difficulty have to do with bitcoin tanking?

there are a few things but they lead to the same situation

increased diff by some big miners, instead of increased diff by more people with smaller mining rigs put more btc into less hands.. what does that do?  same thing that the miner makers are dealing with.  A few big players with piles of btc trying to beat the other guy in grabbing what ever bids are out there buying btc...

if the btc are spread around smaller piles to more people it would take a pure panic to get everyone to go sell at once..  here you have the prisoner's dilemma...  it would be best if both prisoner's don't fess up and the cops have nothing, but usually one will fess up first since they don't know for sure if the other guy will keep quiet.

If the big miners and miner makers all took their time in a slow sell, then it would be best to all..  but since they cant really trust each other they do what they know is good for them right now.. and that is sell as fast as they can

so enjoy the low btc price until probably next spring when it evens out..   then you got the Winklefools that are going to dump their pile in an ETF that will bring bad publicity.   rough times for BTC next 8 months

[dree12]

As more asics flood the market, bitcoin value will continue to tank

what does asic = increased difficulty have to do with bitcoin tanking?

there are a few things but they lead to the same situation

increased diff by some big miners, instead of increased diff by more people with smaller mining rigs put more XBT into less hands.. what does that do?  same thing that the miner makers are dealing with.  A few big players with piles of XBT trying to beat the other guy in grabbing what ever bids are out there buying XBT...

if the XBT are spread around smaller piles to more people it would take a pure panic to get everyone to go sell at once..  here you have the prisoner's dilemma...  it would be best if both prisoner's don't fess up and the cops have nothing, but usually one will fess up first since they don't know for sure if the other guy will keep quiet.

If the big miners and miner makers all took their time in a slow sell, then it would be best to all..  but since they cant really trust each other they do what they know is good for them right now.. and that is sell as fast as they can

so enjoy the low XBT price until probably next spring when it evens out..   then you got the Winklefools that are going to dump their pile in an ETF that will bring bad publicity.   rough times for XBT next 8 months

ASICs being pumped into the market means increased profitability, with revenue in BTC. Basic economics indicates that with higher profitability comes inflation, so currently some inflation is expected. This is a consequence of a healthy economy.

[Kazu]

As more asics flood the market, bitcoin value will continue to tank

what does asic = increased difficulty have to do with bitcoin tanking?

there are a few things but they lead to the same situation

increased diff by some big miners, instead of increased diff by more people with smaller mining rigs put more XBT into less hands.. what does that do?  same thing that the miner makers are dealing with.  A few big players with piles of XBT trying to beat the other guy in grabbing what ever bids are out there buying XBT...

if the XBT are spread around smaller piles to more people it would take a pure panic to get everyone to go sell at once..  here you have the prisoner's dilemma...  it would be best if both prisoner's don't fess up and the cops have nothing, but usually one will fess up first since they don't know for sure if the other guy will keep quiet.

If the big miners and miner makers all took their time in a slow sell, then it would be best to all..  but since they cant really trust each other they do what they know is good for them right now.. and that is sell as fast as they can

so enjoy the low XBT price until probably next spring when it evens out..   then you got the Winklefools that are going to dump their pile in an ETF that will bring bad publicity.   rough times for XBT next 8 months

ASICs being pumped into the market means increased profitability, with revenue in BTC. Basic economics indicates that with higher profitability comes inflation, so currently some inflation is expected. This is a consequence of a healthy economy.

Increased profitability with revenue in BTC for those with asics, and decreased profitability i.e, less BTC for those without asics, and increased cost requirement in BTC for those who want asics.

[m3ta]

As more asics flood the market, bitcoin value will continue to tank

what does asic = increased difficulty have to do with bitcoin tanking?

John Doe and his GPUs can not make a profit anymore. Only John Trump and his larger investment can.
Bitcoins were only valid when anyone could make a profit, albeit small, and drive its economy.
Right not, it's elitist. As in, bad.
John Doe has left the building.