Why is Bitcoin tanking this afternoon?

[ptshamrock]

These things are for sure going to happen...  think about it...

all kinda of bitcoin start-ups happened all at once, some where well made and others not so much
the lack of other resources forced people into using these non-secure applications.
people get burned and so bitcoin suffers.
but "what doesn't kill you can only make you stronger"
new services will come take the place of old shitty ones.
at one point the only services that will have any change at making a buck will be top notch.

if your scared about losing money then SELL SELL SELL!!
if your scared about losing period  then BUY  BUY  BUY!!

I want to see a better system in place
I don't want to pay some bank money for simply providing money
every dolor is loaned to us by the banks, the only way to pay the loans back it to barrow more money!
THIS IS ABUSIVE, THIS IS THERE WAY OF ENSLAVING EVERYONE from 9:00am to 5:00pm 5 days a week!

We can buy back our freedom. thanks to bitcoin.

F&@! MAN wake up and smell join the revelation!.... if bitcoin was invented in the 60's we wouldn't be in so much shit today... people back then didn't put a value on there freedom.

  

i only cost 16$CND / hour

What dose your "freedom" cost?

truth is everyone's freedom cost the same... it cost a life time.

+1

[IIOII]

+1

[teflone]

Made my first bitcoin trades during the last week or so , Had £340.00 in MyBitcoin as I was juggling money around while i was setting up an offline wallet(lesson learned) , then I made my second mistake by not moving the rest of the bitcoins I had made (priced between £8.26 to £7.98 each) out and into the britcoin exchange to cash out immediately , spent all day chasing the price down today, finally sold them as low as £6.88 each losing a further £120.00 or so on the exchange rate , (lesson learned). 

Did you learn anything ?  Im not sure you did..

[ssaCEO]

Someone's unwinding a massive position. Could as well be one of the thieves as Satoshi himself.

WE, at the moment, are trying very hard to be the reason to buy BTC -- basically as a transaction-cost-free way to play online games. The more legitimate casinos like us that start accepting Bitcoin, the stronger the currency will be, because the market for moving money on- and offline for gaming is thousands of times larger than the current pool of Bitcoin users. All this requires a (more) stable exchange rate, and established, not fly-by-night trading houses; because even if you can by porn, gambling and drugs with BTC, it's still not going to be accepted at Walmart next week (except in the used hooker pavilion, behind aisle six).

Ease of trade in and out is part of what's dragging this down right now, but the bigger part is that someone with a vast quantity of this shit is unwinding it in a meticulously planned fashion and taking everyone's money here. Including ours.

SO...COME SUPPORT YOUR LEGITIMATE BTC BUSINESS. We've been running $10 freerolls on the hour for the last six hours and ONLY FIVE PEOPLE HAVE SHOWN UP FOR FREE COINS. We have one more tonight, at Midnight GMT, and that's it. I can't tell you how seriously dismayed the players are that no one even wants free BTC right now, and so few people have shown up to play. Bit bummed about it myself. So stop gambling on f*cking mtgox and come play poker on our website while we're giving away free money dammit!

[Tasty Champa]

Someone's unwinding a massive position. Could as well be one of the thieves as Satoshi himself.

WE, at the moment, are trying very hard to be the reason to buy BTC -- basically as a transaction-cost-free way to play online games. The more legitimate casinos like us that start accepting Bitcoin, the stronger the currency will be, because the market for moving money on- and offline for gaming is thousands of times larger than the current pool of Bitcoin users. All this requires a (more) stable exchange rate, and established, not fly-by-night trading houses; because even if you can by porn, gambling and drugs with BTC, it's still not going to be accepted at Walmart next week (except in the used hooker pavilion, behind aisle six).

Ease of trade in and out is part of what's dragging this down right now, but the bigger part is that someone with a vast quantity of this shit is unwinding it in a meticulously planned fashion and taking everyone's money here. Including ours.

SO...COME SUPPORT YOUR LEGITIMATE BTC BUSINESS. We've been running $10 freerolls on the hour for the last six hours and ONLY FIVE PEOPLE HAVE SHOWN UP FOR FREE COINS. We have one more tonight, at Midnight GMT, and that's it. I can't tell you how seriously dismayed the players are that no one even wants free BTC right now, and so few people have shown up to play. Bit bummed about it myself. So stop gambling on f*cking mtgox and come play poker on our website while we're giving away free money dammit!

read the post toward the bottom of the last page.
hint* it has a pastebin link. :/

[MemoryDealers]

guess LulzSec and Topiary need money for their legal defense fund.

Start reading at 241:  http://pastebin.com/EcNCwaEu

That seems VERY disturbing.  Do you have any additional details about what they are doing?

[Rodyland]

guess LulzSec and Topiary need money for their legal defense fund.

Start reading at 241:  http://pastebin.com/EcNCwaEu

That seems VERY disturbing.  Do you have any additional details about what they are doing?

If that were true, surely one of the many people here in the forums that regularly examine the blockchain would have noticed this?

[RandyFolds]

Someone's unwinding a massive position. Could as well be one of the thieves as Satoshi himself.

WE, at the moment, are trying very hard to be the reason to buy BTC -- basically as a transaction-cost-free way to play online games. The more legitimate casinos like us that start accepting Bitcoin, the stronger the currency will be, because the market for moving money on- and offline for gaming is thousands of times larger than the current pool of Bitcoin users. All this requires a (more) stable exchange rate, and established, not fly-by-night trading houses; because even if you can by porn, gambling and drugs with BTC, it's still not going to be accepted at Walmart next week (except in the used hooker pavilion, behind aisle six).

Ease of trade in and out is part of what's dragging this down right now, but the bigger part is that someone with a vast quantity of this shit is unwinding it in a meticulously planned fashion and taking everyone's money here. Including ours.

SO...COME SUPPORT YOUR LEGITIMATE BTC BUSINESS. We've been running $10 freerolls on the hour for the last six hours and ONLY FIVE PEOPLE HAVE SHOWN UP FOR FREE COINS. We have one more tonight, at Midnight GMT, and that's it. I can't tell you how seriously dismayed the players are that no one even wants free BTC right now, and so few people have shown up to play. Bit bummed about it myself. So stop gambling on f*cking mtgox and come play poker on our website while we're giving away free money dammit!

read the post toward the bottom of the last page.
hint* it has a pastebin link. :/

http://pastebin.com/MmguJm3Z

I didn't crack the hash, but I can only assume this is true.

[Big Time Coin]

guess LulzSec and Topiary need money for their legal defense fund.

Start reading at 241:  http://pastebin.com/EcNCwaEu

OK so you are skipping over the whole part about project inception and the bitcoin gobbler?  Is this for real, what is the source... is someone really claiming to have a worm inside the client or is this another SA prank?

[dust]

http://pastebin.com/MmguJm3Z

Fake

[Mjbmonetarymetals]

Made my first bitcoin trades during the last week or so , Had £340.00 in MyBitcoin as I was juggling money around while i was setting up an offline wallet(lesson learned) , then I made my second mistake by not moving the rest of the bitcoins I had made (priced between £8.26 to £7.98 each) out and into the britcoin exchange to cash out immediately , spent all day chasing the price down today, finally sold them as low as £6.88 each losing a further £120.00 or so on the exchange rate , (lesson learned). 

Did you learn anything ?  Im not sure you did..

I bow low to your superior knowledge as to wether I learnt anything or not. Clearly if I had any sense I wouldn't of had my money in MyBitcoin. I maybe wrong but for bitcoin to take off it needs to be widely accepted so it needs to move out from the realms of the super - tech guy to the likes of me who has no real computer, or Exchange trading skills to speak of .  I'm pretty sure I won't be using an online wallet (admittedly this was obvious to everybody but me)  , I'm pretty sure sellers accepting bitcoins, don't want to be spending all day staring at Britcoins exchange with there pulse racing in order to see wether there going to make a profit or a loss on the goods they've sold .

To sell bitcoins on the uk exchange , there's one set price , you make the order ,when the price drops , to catch the next price down  I had to cancel the order , make a new order, sell a couple more bitcoins, cancel the order , make a new order , sell a few more bitcoins , cancel order , make a new order , etc etc.

Basically I've gone from paypal being a seller to bitcoin being a trader/speculator . Is there a route around this for uk sellers accepting bitcoin ? I'm not clear how other exchanges operate do they allow you to set your bitcoin sell price slightly under the current price ?

[makomk]

http://pastebin.com/MmguJm3Z

I didn't crack the hash, but I can only assume this is true.

Code:

$ echo -n 'th3j35t3r got trolled'|md5sum
8bb4cdc8f511ad386e723f298c9b3c39  -

Looks like it's true.

[jackjack]

http://pastebin.com/MmguJm3Z

I didn't crack the hash, but I can only assume this is true.

Code:

$ echo -n 'th3j35t3r got trolled'|md5sum
8bb4cdc8f511ad386e723f298c9b3c39  -

Looks like it's true.

So they knew that the conversation would be leaked, so all they said is BS........

[Tasty Champa]

man, I've been thinking about this all day.

If this was true and if they did have something like that in the client.

all they would have to do is transfer everything they have in small increments a few thousand times, and they would have successfully disappeared their footprints in less than a day.

and I'm pretty sure the worm they were talking about was in office space not hackers.
maybe that's the humor. xD capsizing a tanker boat.
it makes sense now. crazy bastards.

[Big Time Coin]

well yeah, but the funny thing is if you trace the mybitcoin transfers there were 0.01 transfers being made on every transaction.  So if lulz hacked the SCI for mybitcoin, as the website claims was hacked, then made it steal a bit little by little, and it wasn't noticed until weeks/months later.  It could be part truth part fiction.  True they were taking .01 per transaction ala hackers/superman/office space.  Fake that they were doing it from the client itself, it was from mybitcoin trades.