BTC price collapse!

[AngelusWebDesign]

The price is $10.50 per BTC and falling!  What's going on?

Come on, guys!  Get in there and buy!

[1714142569]

1714142569

[1714142569]

1714142569

[1714142569]

1714142569

[1.21gigawatts]

AHhhhhh!!!  I can't sell my video cards fast enough!!!!  Oh noes!!!  The floor is falling, Anusgleus just lost his shirt in the market by buying 500 bitcoins at $14.50

[the founder]

AHhhhhh!!!  I can't sell my video cards fast enough!!!!  Oh noes!!!  The floor is falling, Anusgleus just lost his shirt in the market by buying 500 bitcoins at $14.50

I'm the guy that bought them at 33 ... remind me never to time the market.

[airdata]

OH LAWWWWD !

[smoothie]

Would you guys just stop crying about the price.

Watch as in the next week the price will rebound.

[airdata]

OH LAWWWWD ! $10.50 !!!!

[bracek]

the cure for low price is even lower price

when it goes too low, there will be a rally...

relax,
improvements are done almost weekly,
startups are proliferating,
mining difficulty is increasing, that also means something

many people try to steal it,
everyone wants it...

[bittersweet]

Nothing is going on, everything goes as planned.

[Crazy]

Meh, I'm cutting my loses when it comes to BTC. I've lost confidence in the market and feel the true value should be somewhere down in the $2-4 range. No sense in taking a hit all the way down.

[Edward50]

Meh, I'm cutting my loses when it comes to BTC. I've lost confidence in the market and feel the true value should be somewhere down in the $2-4 range. No sense in taking a hit all the way down.

Finally people are understanding that there is no reason bitcoins should have ever risen as high as they are. You can't rely on a market that is full of hoarders and a product that offers currently no benefit.

[Nagle]

Well, what did you expect?  There was a speculative bubble in something with no intrinsic value, and it collapsed.

Go read "Extraordinary Popular Delusions and the Madness of Crowds".

[Seraphim401]

Relax guys,is just those Mybitcoin and Polish exch. fuckers dumping BTC on the market.

[Mousepotato]

LOT of activity at 10.0000.  I'm seeing a lot of 100BTC trades at that level.  Damn!

[error]

Panic selling from irrational people. Buy them while they're cheap

[tomcollins]

Panic selling from irrational people. Buy them while they're cheap

This only works if you can find someone to sell them to at a higher price, or buy something useful with them.

The irrational people are the ones who expected this to hit $1000.  They didn't realize that it was just a few rational people riding it up, and were rational enough to get out once the new money stopped coming in.

[fastandfurious]

Panic selling from irrational people. Buy them while they're cheap

This only works if you can find someone to sell them to at a higher price, or buy something useful with them.

The irrational people are the ones who expected this to hit $1000.  They didn't realize that it was just a few rational people riding it up, and were rational enough to get out once the new money stopped coming in.

+1

[error]

Panic selling from irrational people. Buy them while they're cheap

This only works if you can find someone to sell them to at a higher price, or buy something useful with them.

The irrational people are the ones who expected this to hit $1000.  They didn't realize that it was just a few rational people riding it up, and were rational enough to get out once the new money stopped coming in.

I can always buy something useful with bitcoins. There are plenty of merchants out there.

As for $1000, I don't expect to see that anytime before 2020. Though I could be wrong.

[ManOfKnight]

I am hoping the price drops even further...then it will cause the following chain reaction:

    1.  Prices of video cards to come back down to reality as miners quit buying more and more cards, increasing their prices
    2.  Miners to leave mining as it because more profitable to do something else (possibly purchase)...causing difficulty to slow or even decrease
    3.  Me to mine more   

[smoothie]

Panic selling from irrational people. Buy them while they're cheap

This only works if you can find someone to sell them to at a higher price, or buy something useful with them.

The irrational people are the ones who expected this to hit $1000.  They didn't realize that it was just a few rational people riding it up, and were rational enough to get out once the new money stopped coming in.

I can always buy something useful with bitcoins. There are plenty of merchants out there.

As for $1000, I don't expect to see that anytime before 2020. Though I could be wrong.

You folks forget that the bitcoin market cap is a tiny pin in the scheme of things. Any small amount of money coming into the market will drive the price up.

Just think about it, there is 1.5 quadrillion dollars in derivatives on planet Earth.

Just $10 billion would take bitcoin to $1000 each:

$100,000,000 = $10/btc
$1,000,000,000 = $100/btc
$10,000,000,000 = $1000/btc

The entire silver market is like 800,000,000 oz. x $41/oz = $32.8 billion and silver market is like 1% of the market cap of that of the gold market.

Money can move fast. There will always be more paper fiat than bitcoins so that means the likelihood of bitcoins staying > $1 or > 1 Euro etc is very likely.

[ThiagoCMC]

Guys...

 Honestly, I don't give a shit about Bitcoin pricing in dollar or whatever... I have only interest in Bitcoins itself. I already forgot about the old dollar! 

 I know that this (forget USD, EUR, BRL...) is impossible in a global scale today but... The really sad thing around all of this is that the mining difficulty does not drop alongside with Bitcoin dollar price...   

 In fact, the difficulty is still increasing!

 I think that we need to do is:

1- Help Bitcoins being widely accepted around the globe;
2- Stabilize goods and services prices in Bitcoins only;
3- Close your bank account.

 And there is more, that isn't only the Bitcoins that drops today, here in Brazil, the BOVESPA reaches -2.26%!

 http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/02/bloomberg1376-LPCPGP0YHQ0X01-05FJPK510HBEEKBRRB2VQ3HRUG.DTL

 So, who cares about this sick market?! I don't.

 Americans (Obama and many) think that raising the debt and print more money will save the planet from caos!!! Who believe in things like this?! This would be a joke if not a sad reality.

Cheers!
Thiago