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Author Topic: Why BTC price drop under $800 ?  (Read 2438 times)
GambitBTC
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February 10, 2014, 02:07:51 AM
 #21


1. Apple Bans Bitcoin Apps

2. Mt. Gox Holding 40,000 BTC In Que

3. Russia Bans Bitcoin


1. Non event.  Apple will be out of business in 3 years.
2. Most of it was unloaded on the way down to about 700
3. Can  have a negative impact long-term, especially if other countries follow the ban.  I would not trust anything king Putin says.  Maybe we are looking at a prelude to US-Russia crypto war.


Apple out of business in 3 years, that's just so ridiculously false, join us in the real world.


Have you seen MAC sales?

Have you seen iPod sales?

Oh ya not to mention the iPad being the number one tablet as well the iPhone being the number one phone (By a huge margin)


That kind of public repertoire can not be forgotten in a matter of 3 years. 
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Creating a Bitcoin client that fully implements the network protocol is extremely difficult. Bitcoin-Qt is the only known safe implementation of a full node. Some other projects attempt to compete, but it is not recommended to use such software for anything serious. (Lightweight clients like Electrum and MultiBit are OK.)
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February 10, 2014, 02:12:42 AM
 #22

Russia like China DID NOT ban BTCitcoin.  Times like this I wish a saw a D'oh!  emoticon here.

GambitBTC
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February 10, 2014, 02:21:06 AM
 #23

Russia like China DID NOT ban BTCitcoin.  Times like this I wish a saw a D'oh!  emoticon here.

They may as well have, it makes Russia not able to viably spread the word of Bitcoin
InCoinsITrust
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February 10, 2014, 12:01:35 PM
 #24

Russia like China DID NOT ban BTCitcoin.  Times like this I wish a saw a D'oh!  emoticon here.

And they will not.
Thsi price drop is of the stupid mtgox annauncment, time for buying cheap.
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February 10, 2014, 07:06:09 PM
 #25

IMHO mtgox  is playing with the price of BTC. Perhaps mtgox wish to buy some cheap BTC  Tongue
As trading platform mtgox is not anymore very attractive. Others will replace it: BTC-E, Bitstamp ...

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sharedminers
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February 10, 2014, 10:57:01 PM
 #26

Price is already going back up as we speak, It is time to buy guys
JJKirsch
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February 11, 2014, 04:46:38 AM
 #27

Same as any other business - you need to have some deep knowledge of how things work before you invest.

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h3rlihy
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February 11, 2014, 04:47:59 AM
 #28

This was literally just all the lemmings seeing the bad press and panic selling. Long term effect: zero.
InCoinsITrust
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February 11, 2014, 08:55:31 AM
 #29

value already getting to normal level.
Paya
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February 11, 2014, 10:48:53 AM
 #30

Indeed, BTC seems to be stronger than ever. Not even the so called flaw in protocol which Gox used as an excuse for their own failure managed to crash the market, at least not catastrophically and --apparently-- everything is going back to normal.
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February 11, 2014, 11:56:13 AM
 #31

Many bad new is test for BTC and it really passed test.BTC very strong.Its very useful in many areas .for price many people buy and sell BTC with 800 $ now minners can inflate currency maximum 10% per year after a few years this will be 5% per year  this if they mine all coins free but they invest money on this and use electricity so I think soon 90% of btc holders will not sell under 800usd. Now Gox in gox they can show price even 10usd but what this mean that You can't withdraw Your buyed BTC.Its just fake price.
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February 11, 2014, 12:05:33 PM
 #32

price is even lower now, but it is a holiday dumy panic sell, price will be ok soon.

lol what holiday? this is all in relation to the 3 huge news stories to hurt Bitcoin


1. Apple Bans Bitcoin Apps

2. Mt. Gox Holding 40,000 BTC In Que

3. Russia Bans Bitcoin



Even after all that in a 24 hour period Bitcoin survives

I personally think it displays not only the faith of the community, but the maturity that Bitcoin has gained as a form of currency.
As result of it price seen 615 then Bill Gates Speaks and price welcome again 700s. I feel like big players manupulating these news and benefiting.
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February 12, 2014, 06:33:27 AM
 #33

mtgox has a lot of coins locked.  They can use them to short sell on any exchange they desire, including their own.

Nobody should deposit any bitcoins/$ to mtgox, ever!
InCoinsITrust
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February 12, 2014, 11:55:33 AM
 #34

Bitstamp has frozen BTC withdrawals too. But i think they will resolve it faster than gox and will have more customers because of that.
I can't see any reason to use mtgox anymore.
crocko
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February 12, 2014, 05:57:42 PM
 #35

Indeed, BTC seems to be stronger than ever. Not even the so called flaw in protocol which Gox used as an excuse for their own failure managed to crash the market, at least not catastrophically and --apparently-- everything is going back to normal.

+1

lame excuse used by mtgox

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