Bitcoin crash starts today

[wobber]

Didnt read the news? Baidu and Chinese Telecom dumped the btc option to pay....china is not a real player anymore

but as they sparked the rally in the first place, they will take the price down... very, very deep. Bitcoin in China is unusable and people are going to cash out. No matter at what price....

I think you talk about something you don't know and spreading  FUD.

[IsaacGoldbourne]

The whole Baidu thing has been blown up hugely. China liked bitcoins to evade capital controls, not to buy anti DDOS services. You're all panic selling but the buyers are just laughing because tomorrow they will have made a very quick 25% profit.

[niothor]

Didnt read the news? Baidu and Chinese Telecom dumped the btc option to pay....china is not a real player anymore

but as they sparked the rally in the first place, they will take the price down... very, very deep. Bitcoin in China is unusable and people are going to cash out. No matter at what price....

Bitcoin in China was unusable! There were no merchants no nothing , just speculation. And that can still be done!

[EvilPanda]

Didnt read the news? Baidu and Chinese Telecom dumped the btc option to pay....china is not a real player anymore

There was never a real "option to pay", people like to exaggerate. First somebody spread fake news that Baidu accepts BTC and everyone rushed to the exchanges, now all i can hear is "china bans BTC" and everyone escapes to fiat. People are sheep, I heard that some sheep got robbed of their btc lately, what a coincidence.

[GigaCoin]

[Hfertig]

It seems that the volume of BTC transactions being made for speculation still far outweighs the economic usage of BTC. As long as that's true, volatility will still happen and we will still crash and tumble and spike back up over and over again.

In order for BTC to become a legitimate currency, its non-speculative economy will have to step up and become much bigger than it is now, so that the speculation and volatility becomes less of an issue. There's still a long way to go for that to happen.

Every person that makes your argument misses out on STORE OF VALUE. Who cares about commerce? If me and enough liberbros agree that Bitcoin is better than any savings account we've ever had (which it is) then it can exist at any level just fine.

your store of value has deteriorated by 25% in less than 48 hours. I prefer a fiat saving account over btc at prices in high tripple digits.

[warpio]

It seems that the volume of BTC transactions being made for speculation still far outweighs the economic usage of BTC. As long as that's true, volatility will still happen and we will still crash and tumble and spike back up over and over again.

In order for BTC to become a legitimate currency, its non-speculative economy will have to step up and become much bigger than it is now, so that the speculation and volatility becomes less of an issue. There's still a long way to go for that to happen.

Every person that makes your argument misses out on STORE OF VALUE. Who cares about commerce? If me and enough liberbros agree that Bitcoin is better than any savings account we've ever had (which it is) then it can exist at any level just fine.

I don't think store of value will mean anything if there's no commerce behind it. Even gold has inherent usage in non-speculative commerce (jewelry, etc). A savings account that is so volatile that you can never know what it will be worth at any point in time, is not a very good savings account.

[humanitee]

It seems that the volume of BTC transactions being made for speculation still far outweighs the economic usage of BTC. As long as that's true, volatility will still happen and we will still crash and tumble and spike back up over and over again.

In order for BTC to become a legitimate currency, its non-speculative economy will have to step up and become much bigger than it is now, so that the speculation and volatility becomes less of an issue. There's still a long way to go for that to happen.

Every person that makes your argument misses out on STORE OF VALUE. Who cares about commerce? If me and enough liberbros agree that Bitcoin is better than any savings account we've ever had (which it is) then it can exist at any level just fine.

I don't think store of value will mean anything if there's no commerce behind it. Even gold has inherent usage in non-speculative commerce (jewelry, etc). A savings account that is so volatile that you can never know what it will be worth at any point in time, is not a very good savings account.

I disagree.

[IsaacGoldbourne]

It seems that the volume of BTC transactions being made for speculation still far outweighs the economic usage of BTC. As long as that's true, volatility will still happen and we will still crash and tumble and spike back up over and over again.

In order for BTC to become a legitimate currency, its non-speculative economy will have to step up and become much bigger than it is now, so that the speculation and volatility becomes less of an issue. There's still a long way to go for that to happen.

Every person that makes your argument misses out on STORE OF VALUE. Who cares about commerce? If me and enough liberbros agree that Bitcoin is better than any savings account we've ever had (which it is) then it can exist at any level just fine.

your store of value has deteriorated by 25% in less than 48 hours. I prefer a fiat saving account over btc at prices in high tripple digits.

Yet I'm still 1000% up from when I bought.

[RodeoX]

The price of bitcoin is now dropping it is now at $945 and going lower and lower

I bet that the price of bitcoin will go to less than $100 before the year ends

Shall we bet then? Let's say 1btc?

[NorbyTheGeek]

The price of bitcoin is now dropping it is now at $945 and going lower and lower

I bet that the price of bitcoin will go to less than $100 before the year ends

Shall we bet then? Let's say 1btc?

LOL.  I see what you did there.

[eXme]

+1

[eXme]

Dont panic just sell BTC!!! Its for your good! In 2090 Year A.D. it will cost only 1ct/BTC!

[Hfertig]

It seems that the volume of BTC transactions being made for speculation still far outweighs the economic usage of BTC. As long as that's true, volatility will still happen and we will still crash and tumble and spike back up over and over again.

In order for BTC to become a legitimate currency, its non-speculative economy will have to step up and become much bigger than it is now, so that the speculation and volatility becomes less of an issue. There's still a long way to go for that to happen.

Every person that makes your argument misses out on STORE OF VALUE. Who cares about commerce? If me and enough liberbros agree that Bitcoin is better than any savings account we've ever had (which it is) then it can exist at any level just fine.

your store of value has deteriorated by 25% in less than 48 hours. I prefer a fiat saving account over btc at prices in high tripple digits.

Yet I'm still 1000% up from when I bought.

I am up more than 10.000% with the last ones I held...  and it will stay there, whatever bitcoin does

[humanitee]

Yet I'm still 1000% up from when I bought.

I am up more than 10.000% with the last ones I held...  and it will stay there, whatever bitcoin does

I love you guys! 19200% here, we make this shit possible.

[UrbanZenMaster]

Hmm... sounds like someone's sour that they missed the boat...

[pera]

Didnt read the news? Baidu and Chinese Telecom dumped the btc option to pay....china is not a real player anymore

Who the fuck needs China anymore, they've done their part, Wall Street is taking over now  

Anyway, Bitcoin economy is going to suffer without those 1.75 BTC Baidu collected in last few weeks 

lol when we started going up everybody here was saying "Hey China is panic buying! BUY BUY BUY" and now that there are some problems in China you are like "Who cares about China anyway?..." 

[hilariousandco]

Hmm... sounds like someone's sour that they missed the boat...

Welcome to bitcointalk.org. Place is full of cryptoplebs slagging off all other coins except the ones they hold. They think they're serious currency traders cos they bought a million bbqcoins and infinitecoins off ebay for $10, and now want to become millionaires because pizza.

[Salivan]

It seems that the volume of BTC transactions being made for speculation still far outweighs the economic usage of BTC. As long as that's true, volatility will still happen and we will still crash and tumble and spike back up over and over again.

In order for BTC to become a legitimate currency, its non-speculative economy will have to step up and become much bigger than it is now, so that the speculation and volatility becomes less of an issue. There's still a long way to go for that to happen.

Every person that makes your argument misses out on STORE OF VALUE. Who cares about commerce? If me and enough liberbros agree that Bitcoin is better than any savings account we've ever had (which it is) then it can exist at any level just fine.

I don't think store of value will mean anything if there's no commerce behind it. Even gold has inherent usage in non-speculative commerce (jewelry, etc). A savings account that is so volatile that you can never know what it will be worth at any point in time, is not a very good savings account.

I disagree.

I agree with your disagree

[Holdaaja]

I sell now and buy back at 200$
You all should do that too.