Prepare for more bad news out of govs

[bootlace]

Didn't see this posted on Reddit or these subforms, but seems India will be next: http://www.coindesk.com/indian-regulators-clamp-down-bitcoin/

China seems to have opened up the floodgates to nations speaking out against BTC.

I think we will have some turbulent weeks ahead (my prediction, not trying to spread fear/panic or anything), let's see how resilient Bitcoin is to all this.

[sumantso]

Didn't see this posted on Reddit or these subforms, but seems India will be next: http://www.coindesk.com/indian-regulators-clamp-down-bitcoin/

China seems to have opened up the floodgates to nations speaking out against BTC.

I think we will have some turbulent weeks ahead (my prediction, not trying to spread fear/panic or anything), let's see how resilient Bitcoin is to all this.

Yeah, not happening.

Its election year in India, with the ruling party having suffered reverses in 4 state elections this week - Bitcoin is the lowest of low on the priorities; assuming the policy makers have even heard of it.

[GigaCoin]

Didn't see this posted on Reddit or these subforms, but seems India will be next: http://www.coindesk.com/indian-regulators-clamp-down-bitcoin/

China seems to have opened up the floodgates to nations speaking out against BTC.

I think we will have some turbulent weeks ahead (my prediction, not trying to spread fear/panic or anything), let's see how resilient Bitcoin is to all this.

old news actually since more than a week ago, however apparently India is too busy with elections for entire 2014 the current gov lost the parliament last week or something like that bitcoin is the last thing on their minds.

[quone17]

I was actually surprised that the US hearings on BTC were not a negative.  In fact I think they were a positive because the price went up and no one was seriously talking about banning it, I don't think.  So, I guess China could do more about it, but I think Baidu is one of the biggest retailers so I don't know who else in China could do something to hurt BTC.

[zimmah]

Warning against risk is not the same as banning it.

seriously, when do people learn this?

They're just saying: "well you can use bitcoins, but don't come crying on our shoulders when your wallet gets hacked because you didn't encrypt it."

and in case bitcoin does crash, we're not responsible.

[Wilhelm]

Banning will only happen if the average joe starts buying all his stuff using bitcoin and doesn't want his dollars anymore.
At that point governments must decide to either ban bitcoin or adopt is fully.

[kireinaha]

Bitcoin doesn't work like other speculative vehicles. When good news comes out of a country, it's hailed all around as a major step in the progress of bitcoin's global adoption. Meanwhile, if bad news develops then it's dismissed as "no big deal". It may cause a dip for a day or two, but then the bitcoin drum beaters swarm the forums again, the price starts to rise, and everyone forgets.

I don't think there's ever been an investment with such a solid online community built around it, which has a huge influence on people and results in a lot of irrational market behaviors.

[Peter R]

Bitcoin doesn't work like other speculative vehicles. When good news comes out of a country, it's hailed all around as a major step in the progress of bitcoin's global adoption. Meanwhile, if bad news develops then it's dismissed as "no big deal". It may cause a dip for a day or two, but then the bitcoin drum beaters swarm the forums again, the price starts to rise, and everyone forgets.

I don't think there's ever been an investment with such a solid online community built around it, which has a huge influence on people and results in a lot of irrational market behaviors.

It's not irrational: bitcoin is anti-fragile.  All news is good news because it increases exposure (except perhaps over the short term, as we saw on Friday/Saturday).  Most people still don't know what a bitcoin is: we are in the very earlier stages where people are just opening their eyes to the concept.

[ScrapOfCat]

Bitcoin doesn't work like other speculative vehicles. When good news comes out of a country, it's hailed all around as a major step in the progress of bitcoin's global adoption. Meanwhile, if bad news develops then it's dismissed as "no big deal". It may cause a dip for a day or two, but then the bitcoin drum beaters swarm the forums again, the price starts to rise, and everyone forgets.

I don't think there's ever been an investment with such a solid online community built around it, which has a huge influence on people and results in a lot of irrational market behaviors.

It's not irrational: bitcoin is anti-fragile.  All news is good news because it increases exposure (except perhaps over the short term, as we saw on Friday/Saturday).  Most people still don't know what a bitcoin is: we are in the very earlier stages where people are just opening their eyes to the concept.

I also think "bad" news is good for another reason.  We all know bitcoin has challenges ahead.  It's good to see one manifesting, because in order for bitcoin to move forward the problems have to be dealt with and put behind us. 

[Salivan]

Honestly I was expecting huge spike up on wednesday week ago ( based on my market analysis ). When it not happened I simply thought maybe  I am retarded  or  something.
But after weekends drop I started  to  suspect  that there is something deeper beneath. Maybe big money  know  something we  don't know maybe some bigger action is  already prepared,after all recovery  was  very weak in terms of volume.
In  my opinion market  acts very weirdly (we should be around 2000 mark). As usually in such times I stick  to my  coins getting ready for deep dive. My hope is that  if  any action really happens it will be targeted toward weak hand not toward entire concept.
I am only speculating here overall I am bullish, but somewhere  there in the back of my mind fear starts to smolder

[tutkarz]

Honestly I was expecting huge spike up on wednesday week ago ( based on my market analysis ). When it not happened I simply thought maybe  I am retarded  or  something.
But after weekends drop I started  to  suspect  that there is something deeper beneath. Maybe big money  know  something we  don't know maybe some bigger action is  already prepared,after all recovery  was  very weak in terms of volume.
In  my opinion market  acts very weirdly (we should be around 2000 mark). As usually in such times I stick  to my  coins getting ready for deep dive. My hope is that  if  any action really happens it will be targeted toward weak hand not toward entire concept.
I am only speculating here overall I am bullish, but somewhere  there in the back of my mind fear starts to smolder

so because price is not running to $2k in so short time you are starting to fear and want to sell? And what about just stable growth, don't you think it would be better for everyone? But it won't happen if everyone will start to panic because price is not growing 100% every week.

[600watt]

Honestly I was expecting huge spike up on wednesday week ago ( based on my market analysis ). When it not happened I simply thought maybe  I am retarded  or  something.
But after weekends drop I started  to  suspect  that there is something deeper beneath. Maybe big money  know  something we  don't know maybe some bigger action is  already prepared,after all recovery  was  very weak in terms of volume.
In  my opinion market  acts very weirdly (we should be around 2000 mark). As usually in such times I stick  to my  coins getting ready for deep dive. My hope is that  if  any action really happens it will be targeted toward weak hand not toward entire concept.
I am only speculating here overall I am bullish, but somewhere  there in the back of my mind fear starts to smolder

we should be at the 200 $ mark, all this summer the entire forum had wet dreams about the price going up towards $ 200 by the end of the year. no, i have to correct this - not the entire forum, only the optimists had those dreams.

2000 is ridiculous.

maybe next year.  

[Sitarow]

If "they" succeed in their FUD campaign,  then be ready to pick up cheep coins.

Most I hope have begun to see the obvious attempt by many "bears" to get cheep coins.

[alexeft]

If "they" succeed in their FUD campaign,  then be ready to pick up cheep coins.

Most I hope have begun to see the obvious attempt by many "bears" to get cheep coins.

"...then they laugh at you..."

[Salivan]

I don't want to sell anything
I do not evaluate today market dynamics in respect  to what happened in the summer after  all we are in the middle of a hype period
In my opinion last week was plain weird, I am speculating what could be behind it

[Salivan]

beside  the  point I gamble "my life" in this market so my fears may be  magnified

[Sitarow]

beside  the  point I gamble "my life" in this market so my fears may be  magnified

Indeed take care to not be over invested.

[anu]

Didn't see this posted on Reddit or these subforms, but seems India will be next: http://www.coindesk.com/indian-regulators-clamp-down-bitcoin/

China seems to have opened up the floodgates to nations speaking out against BTC.

I think we will have some turbulent weeks ahead (my prediction, not trying to spread fear/panic or anything), let's see how resilient Bitcoin is to all this.

They do not warn against Bitcoin, they warn against people like Pirate@40. Seems entirely justified. Every NB should be warned that Bitcoin is not a typical OSS project where everyone is nice and helpful.

[Sitarow]

Meanwhile the Swiss are having a vote on treating Bitcoin the same as any other currency within their financial system.

We will see that each government will select what suits its needs and vision best with how to use and treat bitcoin.