This time is different

[proudhon]

I'm being serious. This drop is different. The number of people involved is enormous (e.g. cryptomoms). Bitcoin (and ultimately all cryptos) will not recover from this one. Too many people will be burned here for the market to sustain itself. We're finally (finally!) at the beginning of the end. I've confirmed this with multiple sources.

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[sjefdeklerk]

Of course. The big whales have sold everything (creator of bitcoin.com, creator of litecoin etc). Hedgefunds are short and are going to drive this down. Japanese margin traders will get autosold and a general sense of reason is entering the media, that a coin with $50 fee per transaction and only 7 transactions per second might not be the coin of the future, LOL.

[fat buddah]

This is a massive dump, but there is nothing to be worried about because the price will recover sooner or later.
Why do you think that it touched $10,200 and now it is upto $13,300? Because they are re-buying again.

[AmazonStuff]

This is a massive dump, but there is nothing to be worried about because the price will recover sooner or later.
Why do you think that it touched $10,200 and now it is upto $13,300? Because they are re-buying again.

Why would anyone buy something that doesn't work? Bitcoin is completely blocked, average transaction cost is $55, there are 280 000 unconfirmed transactions, plus there is no legit solution for this problem.

[greensheep]

just saw this on twitter

"It is time to wreck all the CME #Bitcoin shorters that rode us down to 45% dip. They did 8,000 coins of volume today on the January contract. It's time to show them what #BTC does to those that short the bottom."

[sjefdeklerk]

just saw this on twitter

"It is time to wreck all the CME #Bitcoin shorters that rode us down to 45% dip. They did 8,000 coins of volume today on the January contract. It's time to show them what #BTC does to those that short the bottom."

Show me please, buy a coin for $12.700 that has failed as a payment system. It's fun !

[Wilhelm]

This is when faiiiiling will come back to haunt us 

[greensheep]

well if Roger Ver and crew wouldn't spam the network with micro transation to slow it down I guess it wouldn't be that bad wouldn't it?

[darkangel11]

I'm being serious. This drop is different. The number of people involved is enormous (e.g. cryptomoms). Bitcoin (and ultimately all cryptos) will not recover from this one. Too many people will be burned here for the market to sustain itself. We're finally (finally!) at the beginning of the end. I've confirmed this with multiple sources.

I remember you saying more or less the same thing when Bitcoin was diving below $500 a few years ago. It's always the same with you doom preachers. You become lazy when the prices are surging and when they start to fall you come out in waves with your "i told you so" babble. I know some of you would love for the crypto that has made all of us holders and supporters rich to finally go down but this is not the end. Bitcoin has experienced some incredible drops of value like the one that took us from over 1000 USD to 160 and we're still here.

[jackhdt]

This is a massive dump, but there is nothing to be worried about because the price will recover sooner or later.
Why do you think that it touched $10,200 and now it is upto $13,300? Because they are re-buying again.

Why would anyone buy something that doesn't work? Bitcoin is completely blocked, average transaction cost is $55, there are 280 000 unconfirmed transactions, plus there is no legit solution for this problem.

I'm waiting to see they solve the problem of how.and one thing that decreasing the price will reduce the transaction fee.  a transaction fee is too big. bitcoin will not become future payment currency with rates so high.

[pereira4]

I'm being serious. This drop is different. The number of people involved is enormous (e.g. cryptomoms). Bitcoin (and ultimately all cryptos) will not recover from this one. Too many people will be burned here for the market to sustain itself. We're finally (finally!) at the beginning of the end. I've confirmed this with multiple sources.

Proudhon strikes back, fantastic

The proudhon indicator is an excellent one to start considering buying back in. He has a perfect record of always breing wrong since Bitcoin was invented.

Of course. The big whales have sold everything (creator of bitcoin.com, creator of litecoin etc). Hedgefunds are short and are going to drive this down. Japanese margin traders will get autosold and a general sense of reason is entering the media, that a coin with $50 fee per transaction and only 7 transactions per second might not be the coin of the future, LOL.

Bitcoin as a store of value is still unmatched. Bitcoin as a fast payment solution will be here when lightning network is operating at big scale. Doubters will pay.

[webtricks]

I'm being serious. This drop is different. The number of people involved is enormous (e.g. cryptomoms). Bitcoin (and ultimately all cryptos) will not recover from this one. Too many people will be burned here for the market to sustain itself. We're finally (finally!) at the beginning of the end. I've confirmed this with multiple sources.

From the past experience with Bitcoin and Cryptos, I can assure you adoption here doesn't dilute volatility. The percentage volatility was same when Bitcoin was around $400-500 and used by small community to present when it is moving between $11K-18K and used by large crypto population.
This market is still immature and you shouldn't expect this fall to be the end. It will revive and soon enough. This could been a major set-back if such crash was shown by Stock Market, etc but Crypto Market isn't traditional security market. Volatility is essence of this market.

[player514]

I'm being serious. This drop is different. The number of people involved is enormous (e.g. cryptomoms). Bitcoin (and ultimately all cryptos) will not recover from this one. Too many people will be burned here for the market to sustain itself. We're finally (finally!) at the beginning of the end. I've confirmed this with multiple sources.

Please state your sources! This post is making claims without backing them up.

Your opinion is definitely a positive one, and there have been many many many people before you who shared the same exact sentiment after other drops.

The fact of the matter is that Bitcoin is already on a recovery period. You'll see that the price has gone from 11500 to around 13300. This is close to a 20% increase. With any large bullish run comes a drop, but with Bitcoin notice that there are always rises.

[darkangel11]

Why would anyone buy something that doesn't work? Bitcoin is completely blocked, average transaction cost is $55, there are 280 000 unconfirmed transactions, plus there is no legit solution for this problem.

If you keep bidding up over and over you will block any network provided there's enough people using it. Bitcoin has the oldest infrastructure in the industry and the most users which obviously makes it the most vulnerable to such blockades. The cost of transactions will keep going up until people finally stop outbidding each other to get into the first block. Right now if you pick the average cost of transaction and send something you still may not receive it. And i'm not talking about receiving it in a given time. I have sent a transaction over 2 days ago with an average fee. Within 6 hours the average fee has tripled and my transaction kept getting lower and lower priority until after 2 days it went into the infinity bracket. You can be in a similar situation now if you choose to pay $50, you can never know how many people will decide to pay $150 or $200...
It's as much a problem of the users as it is of the network.

[tosmartak]

This is a massive dump, but there is nothing to be worried about because the price will recover sooner or later.
Why do you think that it touched $10,200 and now it is upto $13,300? Because they are re-buying again.

Why would anyone buy something that doesn't work? Bitcoin is completely blocked, average transaction cost is $55, there are 280 000 unconfirmed transactions, plus there is no legit solution for this problem.

I could not but agree more and the only reason why most people were rushing in was because they saw another form of quickly making some money and that was where the main issue all started and bitcoin is not even scaling. With the huge transaction fees, one transaction has still been withheld on the network now for days. It sucks and becoming annoying.

[Rozita]

What happened had been predicted by many people after bitcoin price reached 20000 dollar that fast. It's just a correction and it is same as past corrections. This time the correction was bigger because of some panic sellers like you. Now the price has started to rise again.

Don't panic and don't cause others to get into a panic.

[proudhon]

What happened had been predicted by many people after bitcoin price reached 20000 dollar that fast. It's just a correction and it is same as past corrections. This time the correction was bigger because of some panic sellers like you. Now the price has started to rise again.

Don't panic and don't cause others to get into a panic.

Any rise in price is just noise on the way to total ruin. We're in a clear bear market down trend now.

[SerMeric]

mickey is the first when the ship starts sinking. And the captain is the one who leaves the last. The gap between being mickey and the captain is hard to survive. Expect the ship is not sinking. Its just abit windy sea. So the holders will be the winners. Of course if it doesnt hurt you or loved ones. Its something else.

[Wilhelm]

What happened had been predicted by many people after bitcoin price reached 20000 dollar that fast. It's just a correction and it is same as past corrections. This time the correction was bigger because of some panic sellers like you. Now the price has started to rise again.

Don't panic and don't cause others to get into a panic.

Any rise in price is just noise on the way to total ruin. We're in a clear bear market down trend now.

Just had a look at your last topics and you have been shouting Bitcoin death for quite some time however here we still are

July 08, 2016, 02:39:43 PM
The Death of Bitcoin as Confirmed by Data
https://bitcointalk.org/index.php?topic=1543358.msg15514651#msg15514651

August 03, 2016, 06:51:19 PM
The price will recover just like it did from the mtgox debacle over 2 years ago
https://bitcointalk.org/index.php?topic=1574486.msg15806378#msg15806378

[Ektra]

This is when faiiiiling will come back to haunt us 

Repent and cut your loose!!! 

[fabrizoc]

This is when faiiiiling will come back to haunt us 

No need to worry about falling mate prices are just matter of time and as soon the user demands get high prices will start to rise and there may be a chance to buy as much as you can and those who are availing this chance will be enjoying great economic health in future bitcoin is all about investors intent and now investors sell their coins to make money and the time will come again when people will be making money from it.

[Febo]

I'm being serious. This drop is different. The number of people involved is enormous (e.g. cryptomoms). Bitcoin (and ultimately all cryptos) will not recover from this one. Too many people will be burned here for the market to sustain itself. We're finally (finally!) at the beginning of the end. I've confirmed this with multiple sources.

It seems this time proudhon was right for once.  He called bear and also told us that this time it is different because cryptomoms are involved. When they start selling it goes to hell you saw today.

[figmentofmyass]

I'm being serious. This drop is different. The number of people involved is enormous (e.g. cryptomoms). Bitcoin (and ultimately all cryptos) will not recover from this one. Too many people will be burned here for the market to sustain itself. We're finally (finally!) at the beginning of the end. I've confirmed this with multiple sources.

It seems this time proudhon was right for once.  He called bear and also told us that this time it is different because cryptomoms are involved. When they start selling it goes to hell you saw today.

bit premature, don't you think? "will not recover" implies what happens after the bear market---a bubble that pops and never goes up again. we're right in the middle of the bear market now, no different than 2014 really. if 3-5 years go by and we're grinding below $1000, i'll agree that maybe "this time is different."

i think proudhon was sort of trolling here anyway.

[timerland]

That's a pretty big statement to make.

This is obviously a pretty big dump, and I definitely expected this to happen at the peak, although obviously I didn't know when the bullishness was going to end last year. We've probably never seen this kind of interest in bitcoin before, and markets were obviously way overheated.

I don't think that just because of the magnitude of the dump, it's going to be the "end" of bitcoin, per se.

Prices will keep moving in cycles, of bullishness and bearishness. Sure, this phase of bearishness may last for a few more years than expected, but with the new instutitional investors and new regulations, I don't see BTC markets being dormant "forever" just because of a prolonged bear market.