BTC crash ;)

[Gameos]

Ok so when I have to wait to write in other topics, maby we will discuss the actual BTC crash in here

[tropicalmonsoon]

Are you talking about how the Bitcoin price has tanked from 1000USD to 700-800USD over the past days and weeks?

[msc]

We're probably headed for 300-500.  This is good though - it gives more people a chance to buy in once it stabilizes. 

[cosmowright]

Is it crashing because of China? Shit. the fuck.

[BlockChainLottery]

No, not again...
Well, I guess it's time to buy again.

[tropicalmonsoon]

Is it crashing because of China? Shit. the fuck.

Looks like it: http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/ (http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/

[Gameos]

Are you talking about how the Bitcoin price has tanked from 1000USD to 700-800USD over the past days and weeks?

No i'm talking today price loss from 890 to 640 $

[OneEyedJack]

I just don't get why people are so worried about the Real World Exchange price for bitcoins?
This is NOT what they were made for. Decentralized... right?
Give it a real world value, and guess what's next? Yup... Government control. The exact opposite thing we want.

[Stout_Nick]

thats not a crash.. its just time to buy i see this happen all the time

[Gameos]

I just don't get why people are so worried about the Real World Exchange price for bitcoins?
This is NOT what they were made for. Decentralized... right?
Give it a real world value, and guess what's next? Yup... Government control. The exact opposite thing we want.

You're right, but at this moment most of the people invests Real World Money, so they want to get something back from this investment. When there will be many shops that will accept bitcoin, then they won't be so worried about the exchange

[Ecurb123]

Yeah I almost wonder if a lower price isn't a good thing. I don't know if I want it to go mainstream if that will make it just another centralized currency.  

[raspcoin]

Why do people care so much about how much you can get for a bitcoin in fiat? There are already several Bitcoin services that do not depend on its value relative to fiat. If you gamble a bitcoin, it does not matter how many dollars that is, you still get the same service.

[jongameson]

put your money in Litecoin.  it's teh future.  with 4 times as many coins and 2x the transaction speed.  it's a no-brainer!

[cazwrx187]

It could be a variety of different things.

-The world's response to the China situation.
-The downside of the "bubble" some people predicted.
-Regular market fluctuation.

I'm an optimist and believe that this is just normal market action.  Bitcoin will be  $1500 by the end of 2013.

[efarah2549]

WHY DOES THIS KEEP HAPPENING TO ME - http://youtu.be/vzw_EfAk9Is

[cosmowright]

One guy on BTC-E is buying 407 bitcoins at 675$.
Shit he's got a lot of them. insane.

Edit : Is there a software that his quite fast at refreshing Sell/Buy orders of bitcoins for BTC-E and sites like that or the only way is to refresh the browser?

[Kasandra]

It went down $100 within 1 hour.

[tropicalmonsoon]

No, not again...
Well, I guess it's time to buy again.

My exact thoughts 

[raspcoin]

put your money in Litecoin.  it's teh future.  with 4 times as many coins and 2x the transaction speed.  it's a no-brainer!

The total number of coins is only of psychological importance. Litecoin is no longer considered a fast coin. Worldcoin is one of the fastest, but there are many coins with other purposes that are faster than Litecoin now.

[cosmowright]

I wish I had setup a btc-e/mtgox account.
I'm wondering with those exchanges.

But I have some fast questions, lets say there are no fees.
1) If I sell like 1 bitcoin at 675$. How long will it take for the money to be in my wallet?
2) Let's say I want to sell at 675$, but the price is going down. It's reaching 625$ so I got no chance of selling at that price. How long does it take for me to remove my sell order and place it back at 624$?