Value plummeting??!

[joeyjoe]

Havnt been on the markets for a few days, and just noticed the value is dropping like mad!

whats going on with this? why is it dropping so fast?

[Bitcoin Swami]

Havnt been on the markets for a few days, and just noticed the value is dropping like mad!

whats going on with this? why is it dropping so fast?

More people selling than buying.

[Phinnaeus Gage]

Havnt been on the markets for a few days, and just noticed the value is dropping like mad!

whats going on with this? why is it dropping so fast?

More people selling than buying.

If what you said is true, Bitcoin Swami (damn, I like you name--not tongue-in-cheek), then if the price was rising fast, would it be because more people are buying than selling? I not a market guy, hence the question. I'm an image guy.





Bitcoin: An Idea Worth Spending

[Exonumia]

If what you said is true, Bitcoin Swami (damn, I like you name--not tongue-in-cheek), then if the price was rising fast, would it be because more people are buying than selling? I not a market guy, hence the question. I'm an image guy.

http://www.investopedia.com/university/economics/economics3.asp#axzz1W6bweoRo

[SgtSpike]

Yes it is.

[Phinnaeus Gage]

If what you said is true, Bitcoin Swami (damn, I like you name--not tongue-in-cheek), then if the price was rising fast, would it be because more people are buying than selling? I not a market guy, hence the question. I'm an image guy.

http://www.investopedia.com/university/economics/economics3.asp#axzz1W6bweoRo

Thanks for the link, Exonumia, but my post was tongue-in-cheek, a clue being the type of image I accompanied with the post.





Bitcoin: An Idea Worth Spending

[Exonumia]

Thanks for the link, Exonumia, but my post was tongue-in-cheek, a clue being the type of image I accompanied with the post.

I suspected but with the comments I see in here daily it can't hurt for some to read it

[FreeMoney]

There is a buyer for every seller, er, more accurately the exact same number of coins are bought as are sold.

[fennec]

I've been enjoying your images Phinnaeus. Keep 'em coming.

[Shortline]

whats going on with this? why is it dropping so fast?

Just going back to the baseline, $4 or $5.00. Whatever Silk Road is doing in daily business, basically.

[DrYe5]

Whatever Silk Road is doing in daily business, basically.

<$1

[giszmo]

Grrr ...

+ Why is the price falling?
- Cause people are selling.
+ Why are people selling?
- Cause they think the bitcoin is worth less than it is traded at now.
+ Why don't they trust in bitcoin anymore?
- Cause they read the bad news.
+ What bad news?

If I wouldn't be in with more % of my personal belongings than I consider reasonable, I would buy now. What do the traders know what I don't know? I guess that's the OP's question.

[Piper67]

Grrr ...

+ Why is the price falling?
- Cause people are selling.
+ Why are people selling?
- Cause they think the bitcoin is worth less than it is traded at now.
+ Why don't they trust in bitcoin anymore?
- Cause they read the bad news.
+ What bad news?

If I wouldn't be in with more % of my personal belongings than I consider reasonable, I would buy now. What do the traders know what I don't know? I guess that's the OP's question.

What the traders know is that the momentum is going downward (conference fizzled, end of the month, end of the week, miners have to pay for their rigs, yadda yadda yadda). They also know exactly when they'll come in to buy again.

[hdfxst]

It's more profitable to buy and sell coins then it is to mine them.You buy at 6-7 dollars that drives the price back up then sell at 11-12 dollars and that drives the price back down and you keep doing it over and over

[adamstgBit]

It's more profitable to buy and sell coins then it is to mine them.You buy at 6-7 dollars that drives the price back up then sell at 11-12 dollars and that drives the price back down and you keep doing it over and over

actually best thing to do is buy and hold for years

[hdfxst]

but right now i think that's whats causing the price swings.I don't think the price will go over 12 dollars for a long time.right now you're making money and buying back the same coins so you don't lose anything

[Piper67]

but right now i think that's whats causing the price swings.I don't think the price will go over 12 dollars for a long time.right now you're making money and buying back the same coins so you don't lose anything

You lose the transaction fee if you just do that 

[Furyan]

THE SKY IS FALLING!!!!!!

Oh wait, Imma let you finish, I was just on my way to CampBX to buy some more BTC while the price is low, while the rest of you look for reasons to have heart attacks.

Then I'll be rich and you'll be poor AND having heart attacks.

Crap, my master plan.  Good job, Mr. Bond.

[bitrebel]

There is an artificial conspiracy at work. Hoards of people are selling at a secret undisclosed time, while other are planning to come in and buy at secret undisclosed prices. 

[thefussydutchman]

it is going to go back up. thats just what i have heard.