WTF is making all of the coins drop like a dead rocket.

[cabinetmaker]

not here...........

[1714771526]

1714771526

[1714771526]

1714771526

[phrozenspite]

most coins are worthless on their own, hence to cash out they have to sell to get BTC.  When the price of BTC falls, all of the linked coins fall as some people try to get their money out

[bitrebel]

and it's only 7:30 in the morning in China today. So, they have barely woken up to start selling for the day.

[twistedtrick]

Well pretty much every coin is tied to BTC, and BTC is crashing. Sooooooo...

[gargouri2001]

it is the end of concurrency  ,

Just china dumped BTC ,

[ranmn7]

virtually all the alt coins are linked directly to the value of BTC, so when BTC goes down the value of all the alt coins goes down.

I wouldn't describe this as dropping like a dead rocket, remember the price of BTC right now is way up from just a couple of months ago ($160 or so in October), and nearly 10x the price in June/July.

So anyone who got in recently, like at the $1000 level, yeah they are seeing a huge price decrease, but for those of us who have been involved longer, its still way up, just a correction from all the greedy people in China who were trying to cash in.

Unfortunately I wasn't involved when the price was at $12, just last January.

[btcrich]

Yet, looking at the thieves on ebay, the price of mining hardware isn't going down.
Looks like those machine buyers are fixing to be stuck with a bunch worthless hardware.

That sounds fairly short sighted.  So you feel that coin prices will never rise again?  If the rising difficulty temporarily decelerates, that will only benefit those with the foresight to continue mining.

Not to mention, how else are we going to heat our homes this winter?

[Bitcoin!]

Well the recent BTC drop is because fiat deposit in btchina is banned by the china central bank!
If you think bitcoin or other chrypto is dead think again, ive seen this picture all year long with bad news like silk road taken offline BTC dropped like a rock and soo and soo, BTC will survive the chinese, as they figure out other ways to buy, in the meantime if you hold chrypto dont sell or youll regreat it later!
Take a look here!
http://fiatleak.com/

[broken_pixel]

It happens a bunch, just sit back the prices will go back up once BTC spikes again.

[CoinBuzz]

That is when we need P2P exchange services for crypto world

[Slingshot]

 See the link for some answers to your questions. But realize that things got way ahead of themselves.

 We are simply in a correction to the mean again. Not any crash. Not so far! And doubtful that will ever occur in our lifetimes.


 Likely we trade in the $400 to $700 range for a bit, then either head back up, or further down, depending on how many fools rush in, or panic sell. Seems most don't have much of a clue but then their not traders nor speculators, much less serious investors.


 Expect more of the same so called (and mislabeled) bubbles and crashes. Just realize their not really what they seem, nor what their labeled. But instead merely severe surges up and down, along the route to where ever prices finally sorta stabilize. But then deflationary type currencies wont ever truly stabilize for long will they?


Bottom line: This is just another bump in the road. Don't fret, don't panic. Merely buckle in for a wild ride, or get out and do whatever.

 The bottom is likely already in, and if not then soon will be. After that it's either a time trading in a tighter range before heading back up, or maybe no time at all until right back up.


 It may or may not be a whole day, or week, or month, or even a whole lot longer before we break new all time highs. Tough to say.

 My guess, (and it's only an educated guess) is that all time highs are again reached within a single months time due to the dynamics of this monetary revolution called Crypto-Commodity-Currencies that is currently sweeping the world here and now. As the price drops many will see this as their chance to get in at a much better price level than ever before.


 Much tax related selling going on now?, and 1st time purchasing too? So buckle up...it's going to continue to be a wild ride for years to come.




Log Chart (logarithmic)
===============
http://www.bitcoincharts.com/charts/mtgoxUSD#rg1460ztgTzm1g10zm2g25zi1gVolzi2gRSIzi3gAccDistzi4gMomentumzl




Great Live btc charts
=============
http://bitcoinwisdom.com/markets/bitstamp/btcusd





For headlines on what just occurred:
=======================


http://www.cryptocoinsnews.com/

http://www.thebitcoinchannel.com/

http://bitcoinmagazine.com/

http://www.cryptocurrency.org/

http://thegenesisblock.com/





Other News links:
===========
http://dollarcollapse.com/




Caveat emptor - let the buyer beware!

[ajax3592]

[MisO69]

wtf does that picture have to do with anything?


and to stand corrected, some jerks on ebay asking 45,000 for a 500gh machine.

they are not selling, and how stupid can they get?


45000 for 500gh which will only mine 1/4 or less of a btc?


kiss my ass.


cryptocoinsnews.com......thanks for the link, but...I can't hardly read the articles because of the badly broken english, much like the posted picture.

These guys have been trying to sell their asics since they pre-ordered them back in spring.

[FrictionlessCoin]

I think people mistakenly confuse a cheap price of a coin to be a bargain.

However, it's not a bargain when you have billions or trillions of coin.

So maybe some of these coins do top the marketcap list, but they won't last in the long run.  It's just supply and demand, usually in the short term sometimes demand outstrips supplies.

So which coins are these that have a ridiculous number of coins?

Simply look at coinmarketcap.com

Quark         246 million coins - less than 6 months old.
Worldcoin     36 million coins - less than 6 months old.
Doge           9.4 billion coins - less than a few days old.
Mega            21 million coins - less than 6 months old.
Feather         21 million coins - less than 6 months old
Zeta            158 million coins - less than 3 months old.
Infinitecoin    88 billion coins - less than 6 months old.

How many coins do you think will be printed in 1 year's time, or 2 years time.   The price of these coins will tend to zero.

Now by stark contrast:   
Bitcoin      - 12 million 4 years old
Namecoin - 7 million 2 1/2 years old
IXC           - 17 million - 2 1/2 years old.