china just killed BTC and ALTS - It's your own fault -no evolution for years

[cryptohunter]

Seems it was pretty easy for the banks to kill BTC.

All the tough talk from crypto meant nothing in the end.  The banks simply said stop and btc stopped lol

That's what happens when you have a decentralised currency that relies on totally centralised exchanges and fiat input/outputs.

Wait till US banks and UK banks change their minds. Crypto will be worth nothing.  

Bringing out a zillion different shitclones per day will not help.

P2P exchanges and something like local BTC on steriods is required in the next few weeks or you can kiss goodbye to crypto forever.

Crypto has not evolved  as it should have, the coin designs have perhaps evolved slightly but the idea of crypto has stood still since bitcoin inception.

We need ideas regarding how to make BTC and ALTS far more stable and therefore a lot less vulnerable.

We need ideas here, don't just sit there mining your DOGE and BILLION coins, cos they will be worth NOTHING when the next big countries banks say no fiat in/out of any exchanges.

Start thinking about this and voicing some ideas.

[roozifus]

Seems it was pretty easy for the banks to kill BTC.

All the tough talk from crypto meant nothing in the end.  The banks simply said stop and btc stopped lol

That's what happens when you have a decentralised currency that relies on totally centralised exchanges and fiat input/outputs.

Wait till US banks and UK banks change their minds. Crypto will be worth nothing. 

Bringing out a zillion different shitclones per day will not help.

P2P exchanges and something like local BTC on steriods is required in the next few weeks or you can kiss goodbye to crypto forever.

BTC has seen much bigger falls before, remember the $250 -> $50 drop?, or the $30 -> $1 drop?

There's more belief in bitcoin now than there was back then and the price reflects it.

There's also no time frame in which btc has to get things right, nor does bitcoin have to be the best and last crypto currency.

Of course a lot of people including myself have lost money in the short term, but that's a separate issue to the success of cryptos in the long run.

[johncoin]

cryptohunter, the kind of control banks attempting simply is... it's not possible. If there is one thing the history of evolution has taught us it's that BTC will not be contained. BTC breaks free, it expands to new territories and crashes through barriers, painfully, maybe even dangerously, but, uh... well, there it is.

People will find ways how to get their bitcoins even without bank.

[jdebunt]

China didn't kill anything, it's the rest of the dumpers who are killing the prices

If everyone who isn't Chinese stopped selling right now, the price would go right back up

[Prolifik]

DROP DROP DROP
THEN
PROFIT PROFIT PROFIT

[Prolifik]

Gonna be watching the market caps over the next week.

Gonna score big on noirbits when they go under a penny

[cryptohunter]

BTC has not been cut off from banks and fiat before. Just china saying no fiat into btc exchanges and not fiat out after jan has smashed BTC and all alts into free fall.
Wait until the other countries decide the same thing. It will be bye bye to all crypto.  

Crypto is nothing without fiat, if there are no p2p exchanges and no mechanism to feed them fiat it's going to be over for BTC and alts.  China was a bitch slap in the face , US and Europe say the same that will be a piledriver into the concrete.

Crypto is nothing right now without fiat. It can pretend to be something more robust and worthwhile yet here is the proof that that is currently all just bullshit. The banks decide to say no, you can kiss crypto both btc and alts goodbye.

The people with crypto wealth here best get their asses in gear and start pushing for total decentralisation of the mechanisms that crypto relies on or it's over.

All this bitcoin is untouchable is laughable right now, crypto on the whole is actually a joke right now in terms of stability it is so vulnerable on so many levels.

There is simply no point having decentralised currency that fully relies on a centralised mechanism, it is  pointless.

[Amph]

they can just withdraw and buy btc face to face, problem solved

[maxsolnc]

It really seems like big dump before 'to the moon'. All short-time investors and panicking people will dump their coins in several days. Christmas dump expectations, China news, 'hacker' news - let's see 1BTC=$100 again, and then... let's see.

But yes, I agree with cryptohunter that we need decentralised exchanges. Really, no way to go without them.

[phrozenspite]

As was pointed out above, this isn't the first time that btc has seen a big sell off and won't be the last.  Don't blow things out of proportion.

[sevoque]

lol OP.

You do realise everything you said re the banks is the EXACT reason why crypto currency exists?

If the banks LIKED the idea of working with finances in this way then it would ALREADY exist.

The whole point of this community is not nescersarily to be accepted by the wider, more mainstream financial institutions but to provide people an alternate way of trading. The more resistance, the better for the market. You would be naive to think that because the news from China has reported some sort of regulation / stop on trading that people are actually going to _STOP_ trading. BTC has value, as do other cryptos, they will be traded, they will increase and they will flourish.

If 'CRYPTO' relied on being accepted by financial institutions, remind me what the point of it existing is?

[Amph]

It really seems like big dump before 'to the moon'. All short-time investors and panicking people will dump their coins in several days. Christmas dump expectations, China news, 'hacker' news - let's see 1BTC=$100 again, and then... let's see.

But yes, I agree with cryptohunter that we need decentralised exchanges. Really, no way to go without them.

we don't need decentralised exchange, we need to buy things with btc directly

[FiniteRed]

All the tough talk from crypto meant nothing in the end.  The banks simply said stop and btc stopped lol

You are looking at crypto solely as a means to increase the amount of fiat in your account, the original point of decentralised currencies is to move away from centralised banking systems and establish a global, secure, open, transactional currency(s) free of transaction fees, border controls, political tampering and the present day issues associated with fiat/credit etc.

Bringing out a zillion different shitclones per day will not help.

Yes there are hundreds of alt-coins, of which only a few will survive in the long run however they address (amongst many other things) one of the biggest issues with BTC currently with regards to transaction times. No technology, company or product can survive long term without innovation and at the moment innovation is being achieved through 'natural selection' from the development of a large number of alts.

It's good to be able to trade crypto for fiat to make a quick buck - but that's not at all what crypto is/was and should be about.

FR

[NUFCrichard]

It's down 4% in the last month!
The fair value lies somewhere for north of the current price, China can do what it wants, the crypto world will go on without them

[maxsolnc]

It really seems like big dump before 'to the moon'. All short-time investors and panicking people will dump their coins in several days. Christmas dump expectations, China news, 'hacker' news - let's see 1BTC=$100 again, and then... let's see.

But yes, I agree with cryptohunter that we need decentralised exchanges. Really, no way to go without them.

we don't need decentralised exchange, we need to buy things with btc directly

Of course, but it is not fast process. So such exchanges can be one of the steps

[st9999]

ASIC Miners kill BTC. They produced BTC in a much cheaper way. Now they sell it off.

[MicroGuy]

[simbo]

Crypto currencies have its pros & also fair share of cons. Market fluctuations is all part of the whole game. What we need to do now, is to think how to get the 'right' balance between the different trade-offs so that we can be in the best situation possible. Bitcoin is just the start, & we are nowhere near the end. Actually, this issue have been on my mind for quite some time, since I got into the community, some 2 months back. It is not just the decentralized exchange issue, the entire crypto currency eco-system need to be fixed.

Regards.

[cryptohunter]

It's down 4% in the last month!
The fair value lies somewhere for north of the current price, China can do what it wants, the crypto world will go on without them

When the west follows suit it will be much harder to go on.

Crypto is not ready for the coming storm. Time to start preparations.

A p2p exchange sounds rather difficult to implement to a standard people would trust it, i guess it will take some time. The exchanges are probably more important for alts than for BTC right now.

[Hampuz]

From what I see and what I have learned in the past, taking the $30 to $1 drop and $250 to $50 drop and now we see $1200 to $400something drop, It always comes out stronger. From the $30 to $1 it went to $250, from $250 to $50 it went up to $1200. What we see now is bitcoin wanting to break $2000.  Lets just wait for Wall street to come in, heavy investors and we are back.  I read an article where some financial guy was saying that in mid 2014's we will see bitcoin at $10. That is just not an option and it could never happen. The reason I think so is simply because people are proud. The people here, the hard workers that bring the coins forward and thus increasing the value are the community.  We are the ones that will decide the price in the end, we are the ones who have spent endless of hours trying to improve, trying to help it go forward.  I say that the value will increase when Wall Street enters the market, and it will not be in a bad way, but we have to remember to stick around, and all of us should just hold hold and hold out some more.  We are bitcoin. Do not forget why you started out here, why you were excited about setting up mining rigs and just talking about the future, it is till there, and it is still bright. We just have to make sure and show the govt' and banks that we do not give up easily. Who is with me on this? Guys? I know that bitcoin is backed by the best of people, the creative thinkers and the market experts. Lets do this, nothing is more fun than a good old challenge!