Thank you to all the Terrified BTC Sellers!

[freedomno1]

http://rt.com/business/bitcoin-us-dollar-manipulation-658/

[screamingservers]

Well, seeing as how I cannot get any funds to an exchange to buy any bitcoin quickly, cheaply and without leaving a ton of value in an exchange account, and there are thousands like me. I would speculate that is whey there is more sellers than buyers.

[CryptoCoinShops]

Bitcoin will decrease to a level where more people can use it and not just for pumping and dumping either. Once it reaches a stable level then we will see a lot more websites using it for services. Once that happenes Bitcoins will really take off. What puts a lot of websites off from using it,  is its volitle state,  I mean no website or company wants to accept 2000 bitcoin transactions worth $100 each today and in a weeks time only worth $50 each. Give Bitcoin more time to become stable and it will fly

[bluemeanie1]

can we rename this thread to : BTC Bull Loser Thread?

[Vivisector999]

Lol, actually the problem isn't that hard to figure out.  People have been taking out huge loans to fund their ASIC's.  Now that some of them have them in their hands, and they see the difficulty rising at insane levels many of them are cashing out all their coins as soon as they get them in hopes to pay off their investments.  The option of sitting on Bitcoins for the price to rise isn't an option for many people, especially those that have been paying their loan off for the past year or so while waiting for their year+ pre-orders to be sent. 

[cbeast]

Shhh. Don't tell them not to panic. That way you get more cheap coins.

[polarhei]

This is funny, For some people, it is, like obtaining crude oil at the lowest price like USD 20 per barrel, then sell at USD 99.99 per barrel.

However bitcoin may be another story. Better be careful.

[kelsey]

Doesn't matter whether its up or down in the future, its extreme fluctuations are pretty much ruining its chances of becoming a widely used currency.
Its starting to prove too much currency risk for merchants to adopt.

[UncleBobs]

People seem to be mindless sheep, following the herd.  

Not sheep.  Hybrids of bonobos and pigs. 

http://www.macroevolution.net/human-origins.html

[cbeast]

Doesn't matter whether its up or down in the future, its extreme fluctuations are pretty much ruining its chances of becoming a widely used currency.
Its starting to prove too much currency risk for merchants to adopt.

In the short term that is true. Bitcoin speculators have a psychological problem. They believe in the technology, but not in mankind's ability to be smart enough to use it. In other words, they have faith in Bitcoin, but not in people. They are jaded by corrupt politicians. However, there are technological solutions to that as well. Statistics is used to solve psychological problems.

Many people believe that we exist in a free market where economics is our tool. They use some statistics to predict patterns. I don't think Bitcoin is broad enough to apply economic theory. Bitcoin is a personal choice. It is our money. Money is very dear to us in a personal way (present company excepted, of course). As such, Bitcoin requires statistics of how we feel about it. We need more information than the traded price on a few exchanges. We need to know what each and every transaction is (or random samples are) valued at, not just those on the exchanges. Then applying statistics, we can evaluate the real price discovery.

This may be difficult to do, but there are folks working on decentralized exchanges which may be able to address this issue. Until then, enjoy the volatility.

[LostDutchman]

This thread is also an expression of my frustration at human nature.  People seem to be mindless sheep, following the herd.  

For the most part people ARE mindless sheep who do not even bother to get out to vote!

My $.02.

[ElectricMucus]

http://rt.com/business/bitcoin-us-dollar-manipulation-658/

Too bad I can't short Max Kaiser.

[monkofnothing]

I being a total n00be in crypto coins, I am totally ecstatic over the price drop this is a big opportunity for those like me to get on the bitcoin Elevator closer to where the early adopters did. That's why I think bit coin will survive. Also the increase of this forums membership over the past few days suggest I'm not alone at all on this idea.

[elebit]

Now that some of them have them in their hands, and they see the difficulty rising at insane levels many of them are cashing out all their coins as soon as they get them in hopes to pay off their investments.

But that doesn't make sense at all. If difficulty increases, wouldn't it make more sense to hold on to them as they get more and more difficult to acquire?

I think the easiest answer is the most likely, speculation is a very large part of the bitcoin economy so far, so when people sense a dip they all want to make a buck. Lots of people sell, many of them fail to catch the bottom and have to pay for those who do.

Sooner or later the value is bound to rise again, as long as the underlying technology is sound.

[justusranvier]

For the most part people ARE mindless sheep who do not even bother to get out to vote!

Not voting is a sign of intelligence, like not going to church.

[semaforo]

Doesn't matter whether its up or down in the future, its extreme fluctuations are pretty much ruining its chances of becoming a widely used currency.
Its starting to prove too much currency risk for merchants to adopt.

Too risky to accept on a large scale, maybe, but as a fraction of total business it's just another investment. And those in the know know that sovereign currencies do tank, and no currency has ever been immune to this- not even gold coins. Governments used to mix their gold coins with tin until people figured it out, causing a crash.

[fleabag]

who is terrified? you talking to the bots that control all the trading?

[Zendata]

I'd wait till monday before we make in assumptions on where the trends go.

[stoto]

If you want to get notified when it hits 50, or start to go up you can create a price alert at my site: http://bitcoin.stoto.net/price-alert
The site will notify you in email just in time to buy.

[prophetx]

Just wanted to say thank you to all of you out there who are running for the hills because you are so easily terrified by negative articles you are seeing in the news, about BTC being a failed endeavour.

Those of you who are mass-unloading all your coinage because you are so easily manipulated by public opinion.

Its because of you that the rest of us are getting BTC at a huge discount right now.  So thanks!   

Please keep selling for awhile.  I was hoping to see it hit $50 before it rebounds back to $100 and eventually hits $1,000 or more.

-B-

and i will get it even cheaper when it goes down 50% from today\s price and people like you capitulate