Confirmed Bad News Sources Thread - No FUD, Just Facts!!!1

[GigaCoin]

Looks like the markets are reacting to these confirmed and approved news, nice!

[proudhon]

It takes a while for enough market participants to internalize news to get things moving.  That seems to have happened now, so expect the downward trend to continue until bitcoins are worth $0.

[hyphymikey]

Bitcoin will never go to 0. I can guarantee that.

 I'll buy every coin for .0001 USD each, put them back on the order book and wait for a resurrection.

In other news, I do see cheap coins coming before the 31st.

[Impaler]

China is perhaps the most plausible state that might attack BTC (on top of just banning it), as they have a track record of trying to control the internet and currency so BTC is kind of a big red cape being waved in front of them.  But I find it very unlikely that they would do so until AFTER their end of January deadline that they gave their domestic market to *Arnold Schwarzenegger voice* GETT OOOUT!  Their goal is to minimize social disruption after all and jumping the gun would presumably cause that.  I'm still rather skeptical of any state attack in cyber-space implausible, arresting people in meat-space is just SOOO much easier for the state.

As for Overstock, these one day salves figures are like Ron Paul 'money bombs' they seem flashy but the real economic impact comes from the sustained sales activity.  Also I'm reading that the CEO is a libertarian and spouting 'fight the man' nonsense indicating this is an ideological rather then market decision which makes it much less of a true test of anything other then that wealthier libertarians are as easily sucked into the BTC phenomenon as poor ones.

[YoYa]

Chinese propaganda machine is powering up, first cryptocurrency war in human history is about to begin, if you're not in Fiat, prepare for pearl harbour.

http://www.coindesk.com/chinese-government-backed-tv-program-bashes-bitcoin-outrages-community/

The business channel of China Central Television (CCTV), the country’s government-backed national television broadcaster, is the subject of bias allegations for a program that cast a negative light on bitcoin and the Chinese bitcoin community.

The program, entitled Outrageous Bitcoin, features four accounts on events that took place in the aftermath of the central bank’s ban on banks and third party payment processors from working with bitcoin exchanges.

The cast of interviewees are quite representative of the Chinese bitcoin community – a trader, a mining equipment vendor, a businessman running an exchange and a couple who host a bitcoin videocast program. However, it was rife with negative suggestions, such as comparisons of bitcoin to a Ponzi scheme and Dutch Tulip Mania. Overall the half-hour long program seemed unprofessionally imbalanced, focusing only on stories involving people who suffered financial losses from bitcoin investment.

Backlash

The documentary, aired on the night of 11th January, caused immediate backlash from bitcoiners including Jin and Guo (interviewees) themselves. In their latest videocast, they complained the program used only a few minutes of a two-hour long interview and edited it to present only the TV station’s point of view rather than theirs. After the program was aired, the couple said, they received a large amount of criticism, and even verbal abuse from angry bitcoiners who felt they had been misrepresented. Now the couple say they were used and betrayed by the TV station.

The program also caused some speculation as to whether it might be a precursor to further government intervention.

XX-Jan-2014 - Never forget.

[MatTheCat]

Looks like the markets are reacting to these confirmed and approved news, nice!

Yup, China are waking up and getting to their internet cafe's kicking of the day with a a series of red candles, with markedly higher volume than normal for the time of day.

Ominous.

[tvbcof]

Proudhon knows what he is talking about. Heed his warnings and be saved.

I'm up well over 100x my original outlay over the last few years.  All I had to do was listen to Nagle and Proudhon...and do the opposite.

[smoothie]

Not that I disagree that a price fall this month is very likely, but Proudhon is being just retarded lol.

So retarded it is entertaining. Keep it coming. 

[elux]

Here's some terrible English language bad news.  Summary below:

1.  Overstock.com started accepting bitcoin
2.  They did $100,000+ sales in 24hours

The bad news is that despite this, the bitstamp price is below $1000.  This just demonstrates that bitcoin has reached its saturation point.  Even without governments planning large scale attacks on bitcoin, it would likely die this year anyway.

Edward 50 agrees, it's BAD:

with thtat overstock news how the crap should it go down

Buy the rumor sell the news. A less I learned recently with NXT coin.

I <3 this thread!  

It takes a while for enough market participants to internalize news to get things moving.  That seems to have happened now, so expect the downward trend to continue until bitcoins are worth $0.

10/10 analysis. AAA+

[johnyj]

The fact is, most of bitcoin hodlers have already ROIed and made some extra cash in their account, while still holding majority of their coins. So they don't have any motivation to sell the coins, even all the coins drop to $1. But if they hodl majority of their coins, the sell pressure will disappear very quickly

There is only 11 million coins in existence and about 1 million coins are in circulation, and I'm quite sure there are more than 1000 guys who want to get 1000 coins to play with

[elux]

The fact is, most of bitcoin hodlers have already ROIed and made some extra cash in their account, while still holding majority of their coins. So they don't have any motivation to sell the coins, even all the coins drop to $1. But if they hodl majority of their coins, the sell pressure will disappear very quickly

There is only 11 million coins in existence and about 1 million coins are in circulation, and I'm quite sure there are more than 1000 guys who want to get 1000 coins to play with

wrong thread bad news only please 

[ArticMine]

I posted this in the press section so here are the links

https://bitcointalk.org/index.php?topic=413084.0

http://www.canberratimes.com.au/nsw/young-mans-death-highlights-the-tragic-reality-of-online-illegal-drug-stores-20140111-30nnp.html

https://www.change.org/en-AU/petitions/tony-abbott-commence-an-inquiry-into-bitcoin-it-s-protecting-drug-dealers

and the quote:

... Mrs Skelly has launched a petition on change.org, calling on the government to outlaw encrypted bitcoin transactions. ...

PS: For the record, I am a bull but I believe many of the bears will appreciate this.

[kkaspar]

Please use this thread to only post confirmed news from confirmed sources to help everyone understand what is obvious - bitcoin is in a downtrend to oblivion.  

My latest find comes, of course, from official sources in China and details how the Chinese government is planning a massive 99% attack on the blockchain.  I'll put the main points below, but anyone can check the facts from the source:

1.  Chinese offials delcare bitcoin a global financial virus
2.  Officials from other nations are in agreement with china China, including the US
3.  The Chinese government has millions of petahashes ready to deploy on the blockchain to destroy the protocol
4.  In addition to attacking the blockchian, China will sell all their mined bitcoins on MtGox

It's obvious bitcoin has gone as far as it can go, but any other thoughts about this devastating news?

Well, I think that most of this is FUD
Only point that I agree on was 1. The Chinese government has made a clear anti-bitcoin stance by saying that they don't want to see any legal business activity involving bitcoins.
It made me wonder on why did they change their stance when they were pro-bitcoin at November?
In my theory, the Chinese govt. thought at first that BTC could be a threat to dollar as an global currency. They thought that BTC could actually be a monetary system what is free from leeches of the western financial world. So they thought that promoting BTC is actually good for China and therefor the piece covering/promoting bitcoin was shown on an chinese national news program that is known for government propaganda. And remember that the news piece was the actual start of this new rise that started in autumn.
Now, why did they suddenly change their stance on the start of December? I think that the reason was that they gave further studies into the nature of bitcoin and it's market system. They probably discovered the "public secret" that most of the BTC are actually owned by the same people who profit most on the success of the dollar. They discovered that most of the bitcoin is owned and the market system is run by groups from wall street. Then they saw that with promoting BTC in China, they are actually helping wall street players to rake up money from the Chinese people.

[An amorous cow-herder]

You guys havent read the worst news by far yet!
The chinese space agency has confirmed that Satoshi was actually an alien from the far away planet Coinya. Their inhabitants use a SHA256 based currency as their sole monetary system  Those aliens arent advanced enough to produce ASICs and Satoshi compromised their whole financial system with ASICs produced on earth. As you may expect they are now angry and out for revenge, and while chip production isnt excactly their strong area they are capable of interstellar flight and have death stars. The transmission the chinese space agency intercepted is as follows:
ALL YOUR BASE ARE BELONG TO US! YOU HAVE NO CHANCE TO SURVIVE! MAKE YOUR TIME!

[piramida]

ALL YOUR BASE ARE BELONG TO US! YOU HAVE NO CHANCE TO SURVIVE! MAKE YOUR TIME!

They are coming to take all bitcoins back! So you must hide them - print all out and put in the holes in the ground, then destroy all computers, they shall not pass!

[Qoheleth]

Proudhon, man, c'mon, really? Are we really doing this?

I mean, it's nice to see that you're optimistic about BTC again, but this kind of caricature is going to get a bunch of the newer folks thinking you're being sincere.

[notme]

Proudhon, man, c'mon, really? Are we really doing this?

I mean, it's nice to see that you're optimistic about BTC again, but this kind of caricature is going to get a bunch of the newer folks thinking you're being sincere.

Maybe I'm just used to proudhon's style, but to me his posts seem to be so soaked in sarcasm that it is unmistakable.

[Qoheleth]

Actually Peter Schiff said exactly that!  That overstock accepting bitcoin as payment is bad news for the price because HODLERS  ( he didnt use that word) will spend their coins and will flood the market...

In seriousness? That's not a bad argument; any big new retail outlet accepting BTC via Coinbase-like services (which immediately cash out to fiat) might easily end up being short-term bearish, because it creates a situation where people who want to spend instead of sell are more likely to spend in a way that'll also cause a sale. On the other hand, it's long-term bullish, because it increases the usefulness of BTC... so it's not bad news for Bitcoin. Just for tomorrow's pricepoint.

[JimboToronto]

wrong thread bad news only please 

Ever notice how many "bears only" threads there are?

Is there even a single "bulls  only" thread?

Why are bears so defensive?

 

[trenton81]

Haven't been laughing so much long time, Many many thanks proudhon!

I hope the Marsians will sell their BTC and attack its network as well, so taht I can collect many, many worthless coins