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Bitcoin Forum > Economy > Economics > Speculation > What's the reason for the recent price dump?
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weav (OP)
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July 04, 2013, 06:23:23 AM
Last edit: July 04, 2013, 07:38:39 AM by weav
 #1
Bubble deflating, seen it coming etc., blah

All the above could have been said for 2 months, yet the forum reeks of self-fulfilling prophecy panic now Grin

The question is why is it dropping now?

(How) is the Winklevoss IPO filing related to this?
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July 04, 2013, 07:17:41 AM
 #2
mtgox is scaring everyone.
The cost of mediation increases transaction costs, limiting the
minimum practical transaction size and cutting off the possibility for small casual transactions
Satoshi Nakamoto : https://bitcoin.org/bitcoin.pdf
Jozzaboy
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July 04, 2013, 07:18:36 AM
 #3
Why? They resume withdrawals today

https://mtgox.com/press_release_20130704.html
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July 04, 2013, 07:23:35 AM
 #4
this was my guess:
Quote from: vokain on July 04, 2013, 02:34:30 AM
Quote from: BitChick on July 04, 2013, 02:25:39 AM

So why is the price not going up like crazy because of this???  Are people just clueless?  I would buy more if I could right now!

^ that is exactly the reason. The vast majority of people ARE clueless about Bitcoin. Out of the few who own Bitcoin, the present market makers are currently mired to the price, who are currently panicking [as they see it plummeting]. People like you who know better have already possibly expended their capital, possibly because they already believed in the long term, unable to counter the downward pressure.

The general population is insanely ignorant about Bitcoin - and here's proof.

all this bearish talk on the forums...
"If you repeat a lie often enough, it becomes the truth."
paraphrase that Goebbels quote a bit and it applies to us too
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July 04, 2013, 07:29:59 AM
 #5
People are dumping prizes now? How do I get in on this? I want a prize too! Where can we get these prizes? Huh
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