BTC Going back to $100

[Benson Samuel]

Buysellbitco.in many times the stock is out and  when you guys have stock it will resume the business when the prices become stable.

Firstly, few users may like to trade in the volatility, so when having stock why not you buy/sell them.

Secondly, there is no guarantee of prices to be stable as it may reach to $100 or again back to $1000 in few hours. So why not let people who wants to trade can use your services?

Is it always about what the users like? Or is there a place where the business needs to protect interests as well?

Just askin!

[legendster]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

[Benson Samuel]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

[bitcoinisfurture]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

[legendster]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

I m selling NOT my stock coins, I learned that from my last crash.
But If anyone wants coions let them talk to me & i ll explain the rates.
--------------------------------------------------------------------------
You can tell by my grammar and spelling errors that I m a bit shaken right now.

[Benson Samuel]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

[Benson Samuel]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

I m selling NOT my stock coins, I learned that from my last crash.
But If anyone wants coions let them talk to me & i ll explain the rates.

I asked you that question to prove to the thread that even with your margins, even you will not sell at this moment.

Thanks for feeding it

[legendster]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Are you selling coins now? Loads of demand.

I m selling NOT my stock coins, I learned that from my last crash.
But If anyone wants coions let them talk to me & i ll explain the rates.

I asked you that question to prove to the thread that even with your margins, even you will not sell at this moment.

Thanks for feeding it

A simple eye wink would have sufficed.
The point is not to sell when the prices are low instead use whatever loose cash you got to BUY coins. That is the only way to protect everyone.

[bitcoinisfurture]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

[legendster]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

Lets say you are a SITE.
You buy coins to curb your user's demands.
You invest your own money & profit money into increasing your stocks.
And suddenly this happens. NOW you run the risk of bankruptcy if you dont cash out soon enough. BUT if you do, you will add further to the crash.
So what would you do ?

[buysellbitcoin]

As you might know already, Chinese and French banks are no longer supporting any transactions that involve bitcoins. Therefore, all chinese traders are doing a massive BTC dump.

I just sold all my BTC (made a loss but with this crash, its better to get out sooner than later)

Sources:

http://www.smh.com.au/business/markets/currencies/china-bans-banks-from-bitcoin-transactions-20131206-2yugy.html
http://articles.economictimes.indiatimes.com/2013-12-05/news/44808398_1_pseudonym-satoshi-nakamoto-bitcoin-trading-platform-chinese-banks
http://business.time.com/2013/12/05/bitcoin-plummets-after-china-bans-it-from-banks/
http://www.bbc.co.uk/news/technology-25233224
http://www.reuters.com/article/2013/12/05/china-bitcoin-idUSL4N0JK1KZ20131205
http://www.aljazeera.com/news/asia-pacific/2013/12/bitcoin-value-dives-after-china-banks-ban-2013125141919464366.html

First Crash - 32$ to 2$  - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes  to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.

Can not agree more !!!

Regards

When are we resuming the trades, buysellbitco.in?

We will resume as soon as market shows a bit stability. There is no way we can setup fair buy or sell price if market is swing 100+$ ( over 13% in less than 5 minutes )

We need a stable market to get fair price references. We are not an exchange where you deal with other traders. When you do any buy or sell on buysellbitco.in you will be buying or selling from us and we can not open again until market is a bit stable.

Regards

[Benson Samuel]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

I do not understand this. If you want to day trade at this scale, you should be connected to every international 'fluid' exchange.

What would you have done if Bitcoin kept going up and hit 100K instead?

If you have some insider information on how you were sooo sure of this crash, it would help us a lot.

[ajax3592]

As you might know already, Chinese and French banks are no longer supporting any transactions that involve bitcoins. Therefore, all chinese traders are doing a massive BTC dump.

I just sold all my BTC (made a loss but with this crash, its better to get out sooner than later)

Sources:

http://www.smh.com.au/business/markets/currencies/china-bans-banks-from-bitcoin-transactions-20131206-2yugy.html
http://articles.economictimes.indiatimes.com/2013-12-05/news/44808398_1_pseudonym-satoshi-nakamoto-bitcoin-trading-platform-chinese-banks
http://business.time.com/2013/12/05/bitcoin-plummets-after-china-bans-it-from-banks/
http://www.bbc.co.uk/news/technology-25233224
http://www.reuters.com/article/2013/12/05/china-bitcoin-idUSL4N0JK1KZ20131205
http://www.aljazeera.com/news/asia-pacific/2013/12/bitcoin-value-dives-after-china-banks-ban-2013125141919464366.html

First Crash - 32$ to 2$  - mt.gox numbers....1/16th value
Second Crash - 260$ - 54$ - mt.gox + btc24 numbers....1/5th value
Third Crash - 960$ - approximately 650$.... not fixed yet...just 1/3rd value.....the crash percentages is getting lesser....which is better

That is called re-distribution of wealth. If you thought bitcoin was just a way to make money, you are mistaken....I have survived all three crashes and I think, I will still be around for more. There will be many more bubbles before it gets into mass adoption. Use crashes  to increase your bitcoin holdings.

cheers and have fun. The present crash is nothing compared to the FIRST CRASH. also never invest more than you can lose.

have a good day...get used to it........

also regarding china, I am happy, bitcoin scares them. They have crazy capital controls...and bitcoin really proves its disruptive nature there.

Can not agree more !!!

Regards

When are we resuming the trades, buysellbitco.in?

We will resume as soon as market shows a bit stability. There is no way we can setup fair buy or sell price if market is swing 100+$ ( over 13% in less than 5 minutes )

We need a stable market to get fair price references. We are not an exchange where you deal with other traders. When you do any buy or sell on buysellbitco.in you will be buying or selling from us and we can not open again until market is a bit stable.

Regards

Let's assume it gets stable at 300-400, will you resume trading then?

[kafka]

A liquid Indian exchange is the need of the hour, I believe there is a market for it in India. What surprises me is no one has set one up yet.

[Benson Samuel]

A liquid Indian exchange is the need of the hour, I believe there is a market for it in India. What surprises me is no one has set one up yet.

Vanilla flavored buying and selling cannot be regulated, but in the event of customers matching their own orders, etc, Extensive regulatory permissions are needed in India.

Also, there is no 100% secure solution as yet. So, it will have to be an Enterprise effort, probably Buttercoin?

[ajax3592]

A liquid Indian exchange is the need of the hour, I believe there is a market for it in India. What surprises me is no one has set one up yet.

Buysellbitco.in has all the potential to turn into one, maybe an external sponsor would be needed for that.

[bitcoinisfurture]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

Lets say you are a SITE.
You buy coins to curb your user's demands.
You invest your own money & profit money into increasing your stocks.
And suddenly this happens. NOW you run the risk of bankruptcy if you dont cash out soon enough. BUT if you do, you will add further to the crash.
So what would you do ?

How much % of the coins you buy form others? As majority of the coins which users sell to the site, the site sells to the others users who want to buy form you. In return you are already charging the fees and transaction fees from both buyer and seller of the users. Also, as new users enters you will have more users who will purchase from you and at a point will be selling to you. So again you have the fees from them too. But if it crosses at certain point few may restrict them to enter in this market, which in turn means you lost few users (buy/sell transaction from them)

[Benson Samuel]

A liquid Indian exchange is the need of the hour, I believe there is a market for it in India. What surprises me is no one has set one up yet.

Buysellbitco.in has all the potential to turn into one, maybe an external sponsor would be needed for that.

Lobbying and more public acceptance is what we need.

Will do a quick guide today for my blog on how Indian merchants can start accepting Bitcoin at their stores.

[bitcoinisfurture]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

I do not understand this. If you want to day trade at this scale, you should be connected to every international 'fluid' exchange.

What would you have done if Bitcoin kept going up and hit 100K instead?

If you have some insider information on how you were sooo sure of this crash, it would help us a lot.

Well large players are connected to international trade, small users who wait for some decent price which differs from users to users and thier risk apetitile level.
This is my personal say, I am not arguing with you as you guys are in this field from very long and understand it better, but just some thing which users may think, i put forwarded this opinion as there would certainly be users like me who were waiting and get some coins at some pre determinded rate which they think has come.

And also if I was sure then I would not buy at this time too as still it may go down by 10 % who knows.

[legendster]

Bad news THIS is BAD news. People know about the DONT panic mantra so WHY THIS ?? WHY panic now ?? why dump ur coins ? the more you dump the more it crashes..

Well even if many users want to buy they can't since the site is not allowing them to buy at this moment. So automatically when people reads that the leading site itself is fearful as they think it may crash further so dont want to sell at this point, users get more feared and want to sell their bitcoins at whatever rates they are getting. This is actually creating more fear among us.

It shouldn't create fear.

Anyone who has been around Bitcoin long enough has seen these crashes and climbs more times than you can imagine.

What China has done is to make Bitcoin even more valuable. By disconnecting banks, people will figure out new ways to trade Bitcoins and since there is no easy way of money transfer, this will directly impact the price of Bitcoin.

This of course, is a theory.

Well, see I am failing to understand the simple logic of why not site should be up.

If the site has coins, let users who want to trade since many have being waiting like me to purchase at some point since its only few extra if people have invests in this as their is chance to loose the money as well. And if again it goes back to 50000 INR + and site start operating it, people like me again will be back seated and will wait for the price to fall as we could not have that risk appetite which others may have.

Lets say you are a SITE.
You buy coins to curb your user's demands.
You invest your own money & profit money into increasing your stocks.
And suddenly this happens. NOW you run the risk of bankruptcy if you dont cash out soon enough. BUT if you do, you will add further to the crash.
So what would you do ?

How much % of the coins you buy form others? As majority of the coins which users sell to the site, the site sells to the others users who want to buy form you. In return you are already charging the fees and transaction fees from both buyer and seller of the users. Also, as new users enters you will have more users who will purchase from you and at a point will be selling to you. So again you have the fees from them too. But if it crosses at certain point few may restrict them to enter in this market, which in turn means you lost few users (buy/sell transaction from them)

Agreed.
BUT what if you were to - in your own safeguard - convert all the coins your got from sellers in your site into CASH ? JUST to avoid this kind of crash and volatility of the market ?
Again, The coins that the SITE acquires from the users are paid by the site upfront at the current rate NOW if the crash swing is over $500 in one night then how do you think will the site be able to support itself. Face it, its not a donation camp but a business and a Business aint a Business if there aint no profit.
Besides, ask the owners of ANY EXCHANGE even in their best days the Coins they get from buying from the customer are never enough to cover the order demand.


*JUST to inform you guys, the coins are rising now. BTC at $700