|
bitcoinminer (OP)
|
 |
August 06, 2011, 05:09:21 PM |
|
Just curious... stopped paying attention for a week, and now all of a sudden we're at 8 bucks.
|
Be fearful when others are greedy, and greedy when others are fearful.
-Warren Buffett
|
|
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
BitPay Business Solutions
|
|
August 06, 2011, 05:11:52 PM |
|
Just curious... stopped paying attention for a week, and now all of a sudden we're at 8 bucks.
most likely all of the stolen bitcoins from mybitcoin are being laundered and converted to cash. |
BitPay : The World Leader in Bitcoin Business Solutions https://bitpay.comDoes your website accept bitcoins? |
|
|
|
thehairymob
|
|
August 06, 2011, 05:13:27 PM |
|
I think it has something to do with the world markets taking a hit this week.
|
|
|
|
|
|
Anonymous
Guest
|
|
August 06, 2011, 05:18:41 PM |
|
I think it has something to do with the world markets taking a hit this week.
I was thinking a massive loss in confidence is far more likely. |
|
|
|
|
|
dinzy
|
|
August 06, 2011, 05:31:38 PM |
|
I think it has something to do with the world markets taking a hit this week.
I was thinking a massive loss in confidence is far more likely. Probably. There has been nothing 'exciting' happening in the BTC scene for a while. I am hoping for a magical rebound once school starts and young undergrads start buying their drugs through Silk Road, but that is a huge if. |
|
|
|
|
adamstgBit
Legendary
 Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
August 06, 2011, 05:36:51 PM |
|
i think its only going to get worst.
when poeple get their bitcoin back from mybitcoin, what do you think there gana do, sell....
|
|
|
|
jackjack
Legendary
Offline
Activity: 1176
Merit: 1233
May Bitcoin be touched by his Noodly Appendage
|
|
August 06, 2011, 05:38:12 PM |
|
get their bitcoin back from mybitcoin
What? |
Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2 Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc. |
|
|
STP
Jr. Member
Offline
Activity: 47
Merit: 12
|
|
August 06, 2011, 05:40:38 PM |
|
Well most have a price at which they will stop mining. I also have a price at which I stop selling and that already happened. I will just hold coins going forward until a rebound. Why people keep dumping is beyond me. Even if your mining and cashing out immediately to cover costs at least only cash out what costs you have to pay for and hold any profit.
|
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
August 06, 2011, 05:41:13 PM |
|
get their bitcoin back from mybitcoin
What? ya mybitcoin has setup a claim process... most likely poeple wont get all their btc back but the little they get back they will possibly sell |
|
|
|
|
Fakeman
|
|
August 06, 2011, 05:41:35 PM |
|
A massive influx of new capital is needed so that we can all cash out at USD $1000 and live like kings. Talk it up with all your most gullible friends, relatives and acquaintances.
|
16wEsax3GGvJmjiXCMQUWeHdgyDG5DXa2W
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
August 06, 2011, 05:44:12 PM |
|
A massive influx of new capital is needed so that we can all cash out at USD $1000 and live like kings. Talk it up with all your most gullible friends, relatives and acquaintances.
now theirs an idea...... lets screw over all our friends and relatives |
|
|
|
Piper67
Legendary
Offline
Activity: 1106
Merit: 1001
|
|
August 06, 2011, 05:52:38 PM |
|
i think its only going to get worst.
when poeple get their bitcoin back from mybitcoin, what do you think there gana do, sell....
Nah... I doubt people will get anything back from mybitcoin (tens of thousands dumped into the market recently does not look promising), but if they do, they'd be stupid to sell off immediately, and they know it. |
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
August 06, 2011, 05:55:44 PM |
|
i think its only going to get worst.
when poeple get their bitcoin back from mybitcoin, what do you think there gana do, sell....
Nah... I doubt people will get anything back from mybitcoin (tens of thousands dumped into the market recently does not look promising), but if they do, they'd be stupid to sell off immediately, and they know it. in anycase these low prices are likely to stick with us for a while. everytime the market will go up, poeple will think its a good time to get out... making the price stable at about 10$ for weeks IMO |
|
|
|
|
Steve
|
|
August 06, 2011, 05:56:16 PM |
|
Look at the bright side...maybe we won't need to shift the decimal place as soon as we thought. And if it collapses, we can always burn our worthless bitcoin to heat our homes in the winter (oh wait, nm...I guess fiat currency does have some intrinsic value after all).  |
|
|
|
Morebitcoinsplease
Member
Offline
Activity: 84
Merit: 10
|
|
August 06, 2011, 05:56:52 PM |
|
Look at the bright side...maybe we won't need to shift the decimal place as soon as we thought. And if it collapses, we can always burn our worthless bitcoin to heat our homes in the winter (oh wait, nm...I guess fiat currency does have some intrinsic value after all). LOL |
|
|
|
|
laydum
Newbie
Offline
Activity: 42
Merit: 0
|
 |
August 06, 2011, 05:59:15 PM |
|
Maybe the drop in price is causing investors to dump their BTC in large amounts?
|
|
|
|
|
Morebitcoinsplease
Member
Offline
Activity: 84
Merit: 10
|
|
August 06, 2011, 05:59:55 PM |
|
i think its only going to get worst.
when poeple get their bitcoin back from mybitcoin, what do you think there gana do, sell....
Nah... I doubt people will get anything back from mybitcoin (tens of thousands dumped into the market recently does not look promising), but if they do, they'd be stupid to sell off immediately, and they know it. in anycase these low prices are likely to stick with us for a while. everytime the market will go up, poeple will think its a good time to get out... making the price stable at about 10$ for weeks IMO I agree, confidence in bitcoin has taken yet another hit, but not unlike other markets I believe it will return back to $10 - $13 in the coming weeks as well. I see 5970's on ebay once again for "Buy it now" which rarely ever happened since the beginning of bitcoin mining. |
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
August 06, 2011, 06:01:44 PM |
|
lol, are you going to buy durning this disaster?
i for one think, bitcoin will only get stronger, faster because of this... its had so many disasters, good news coming soon!
|
|
|
|
wareen
Millionaire
Legendary
Offline
Activity: 910
Merit: 1001
Revolutionizing Brokerage of Personal Data
|
|
August 06, 2011, 06:03:20 PM |
|
I honestly don't see a problem - nothing has changed really. Bitcoin isn't supposed to be a get-rich-quick scheme. The system behind Bitcoin is as strong as ever - we have more exchanges, more merchants, more hashing power, more users, etc. than we had a month ago. I don't see why anybody would sell all his/her Bitcoins now - those who believe in the unique qualities of Bitcoin obviously won't sell because they haven't changed a bit. People who are just here for some quick buck could hardly have chosen a worse time to sell either... My guess is it's mostly speculators which sell low but hope to buy back again even lower. Anyway - lower prices also lower the barrier of entry for new people so go and sell away all you like  |
|
|
|
|
EuSouBitcoin
|
|
August 06, 2011, 06:04:04 PM |
|
Excluding hardware costs, what is the USD cost of electricity required to generate 1 BTC?
That's the price around which BTC will stabilize, I think. If the price is higher than that cost, miners will generate new coins and sell to push the price down. Below that cost and the miners will turn off their mining rigs. Since they are not mining at that point, they won't have new BTC to sell. Of course other sellers could continue to aggressively push the price down but at least the miners won't be the ones doing the selling.
|
You can't win if you don't play. But you can't play if you lose all your chips. First I found bitcoin (BTC). Then I found something better, Monero (XMR). See GetMonero.org
|
|
|
|
