BITCOIN CRASHING

[cp1]

I and a bunch of other smart folks had our orders in place, and were pleased to see a notification that we got yet another cheap coin :-)

For Coinbase users - http://coinbaseorders.com/

I'd love to use that site, but I don't trust it

[zeroday]

Proudhon was right. News are terrible!

President Pussyn is now negotiating new anti-bitcoin law with the leaders of G8.
After new law comes into effect worldwide, bitcoin price will drop to -$1000 (minus one thousand US dollars).

That means that everyone who owns even a single bitcoin will have to pay bitcoin ownership tax of $1000 per one BTC.
 
Non-compliance will be punished by imprisonment up to 10 years.

I've just flushed all the bitcoins into DOGE

[igorr]

Game is over, it's time to go home.

[BitcoinAshley]

Proudhon was right. News are terrible!

President Pussyn is now negotiating new anti-bitcoin law with the leaders of G8.
After new law comes into effect worldwide, bitcoin price will drop to -$1000 (minus one thousand US dollars).

That means that everyone who owns even a single bitcoin will have to pay bitcoin ownership tax of $1000 per one BTC.
 
Non-compliance will be punished by imprisonment up to 10 years.

I've just flushed all the bitcoins into DOGE

I can confirm this news and I agree with your investing strategy. Only a fool would continue to HODL a cryptocurrency that has a 10000000RUR tax per coin.

[BitcoinAshley]

UPDATE: Bitcoin still crashing. The next leg down will happen when Gox announces it's shutting down for good and not returning any fiat or BTC, and when the news about Russia/China/Indonesia/etc complete bitcoin bans finally sinks in.

[Come-from-Beyond]

I can confirm this news and I agree with your investing strategy. Only a fool would continue to HODL a cryptocurrency that has a $1000 tax per coin.

Just one problem, in Russia taxes r paid in rubles. Edit ur post

[BitcoinAshley]

I can confirm this news and I agree with your investing strategy. Only a fool would continue to HODL a cryptocurrency that has a $1000 tax per coin.

Just one problem, in Russia taxes r paid in rubles. Edit ur post

I'm not sure of the exchange rate so I guessed. Was I close?

[traderCJ]

Yeah that's right, all you retarded HODLers thought Proudhon was trolling, well he wasn't, and all that confirmed bad newses is coming back to bite y'all in the butt!! How does it feel? How does it feel? $350 coins in a week, sell now and double your BTC, only fools don't take advantage of such an easy trade!
Speculate away, bagholders 

EDIT $712 at stamp, we'll touch the $600s within 24hours, mark my words. =D

If Bitcoin went to $1, you'd be pushing the same crap (or, rather .. a shopping cart).

As long as there are people like you propping up the price of Bitcoin, I'm happy to have converted to hard assets when I did.  When the fanboyism dies down and people address the real problems Bitcoin faces, I'll buy back in.  Thanks for buying my coins, Ashley.

Haha, what? I sold some last week, as stated in other posts. And I haven't bought any in months. Nice job making a fool of yourself, though, failtroll 

This coming from the woman who created this silly troll thread .. the attention span of gerbils, some of you ..

[zeroday]

I can confirm this news and I agree with your investing strategy. Only a fool would continue to HODL a cryptocurrency that has a $1000 tax per coin.

Just one problem, in Russia taxes r paid in rubles. Edit ur post

No, I was correct. We are talking about international regulation among G8 countries, not just Russia.

[Come-from-Beyond]

I can confirm this news and I agree with your investing strategy. Only a fool would continue to HODL a cryptocurrency that has a $1000 tax per coin.

Just one problem, in Russia taxes r paid in rubles. Edit ur post

No, I was correct. We are talking about international regulation among G8 countries, not just Russia.

Then it's Ok. I thought that it was a fake coz Russian doesn't charge taxes in dollars.

[igorr]

Russia ban bitcoin, New breaking news,  http://www.coindesk.com/btce-pulls-support-ruble-russia-bans-bitcoin/

[Sonny]

Russia ban bitcoin, New breaking news,  http://www.coindesk.com/btce-pulls-support-ruble-russia-bans-bitcoin/

FYR: https://bitcointalk.org/index.php?topic=452894.msg4990618#msg4990618

[Kaiji]

Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.

If gox fails does it really matter anymore? Most exchanges don't even follow gox's prices anymore.

[MatTheCat]

Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.

I witnessed a series of very large sell offs getting slammed into Bid wall on Stamp. Individual sell orders so large, that the whale executing them must have either been panicking, or deliberately trying to smash the market.

Included amongst them, was a single sell order in the region of 1700 BTC, that took Bitstamp down from $705 - $666.6666.

[FeedbackLoop]

Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.

I witnessed a series of very large sell offs getting slammed into Bid wall on Stamp. Individual sell orders so large, that the whale executing them must have either been panicking, or deliberately trying to smash the market.

Included amongst them, was a single sell order in the region of 1700 BTC, that took Bitstamp down from $705 - $666.6666.

Funny, I saw exactly that going on stamp.

[BitcoinAshley]

Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.

If gox fails does it really matter anymore? Most exchanges don't even follow gox's prices anymore.

The news was that Gox is imploding and Russia banned bitcoins.

(Unlike China, Russia actually did BAN them.)

But keep in mind. The idea of trading is to make money. So when whale daytraders, or any one trying to make money on swings, hears bad news... they tend to sell. Hopefully they sell before everyone else does. Smashing 1700BTC sell orders into the buy walls is a great way to make others panic and sell too. Then, at the bottom, trickle buys bring things back up and the people who bought and sold at the right spots make mad profits. Those who didn't time their orders right get fucked.

So, in a sense, the news did not cause the price crash. Obviously Gox is not particularly relevant since it's been a long time since it had 80% market share, lol. And the people who sold, were not necessarily selling because they all of a sudden decided "This news will have a HUGE effect on BTC, it is the end of BTC as we know it!" It was more like "Other people are probably going to sell on this news, so if I sell, I'll profit!" Others sold because they panicked. Still others sold because they wanted to cash out anyways and figured that price might go lower in the mid-term future so now was their best bet. There is no such thing as single cause->effect when it comes to market psychology. The same event might cause different people to sell for different reasons.

[podyx]

Russia ban bitcoin, New breaking news,  http://www.coindesk.com/btce-pulls-support-ruble-russia-bans-bitcoin/

[Miz4r]

(Unlike China, Russia actually did BAN them.)

Despite what various media sources are saying, Russia didn't actually ban them. They did ban the exchange for goods and services but Russian people are still allowed to invest in Bitcoin. I don't really see the difference between what Russia did and what China did to be honest.

[JimboToronto]

(Unlike China, Russia actually did BAN them.)

Despite what various media sources are saying, Russia didn't actually ban them. They did ban the exchange for goods and services but Russian people are still allowed to invest in Bitcoin. I don't really see the difference between what Russia did and what China did to be honest.

Hey, no fair.

You're not allowed to use the truth to shit on someone else's parade.

[geri]

I and a bunch of other smart folks had our orders in place, and were pleased to see a notification that we got yet another cheap coin :-)

For Coinbase users - http://coinbaseorders.com/

I'd love to use that site, but I don't trust it

https://github.com/tomholub/coinbaseorders run it on your own hosting if you wish :-)