WTF BTC = 500USD!!!

[pepo]

Shit fuck

[rohnearner]

Shit fuck

Lol one more panic attack ..! BTC's are more thrilling then roller coaster ride, it depends on you whether you enjoy the ride or not..! 

[shmadz]

Shit fuck

Lol one more panic attack ..! BTC's are more thrilling then roller coaster ride, it depends on you whether you enjoy the ride or not..! 

I agree that it's a thrilling ride, but I think the rider's enjoyment is greatly influenced on where they boarded the roller coaster. If your entry point is below $100 then I expect you enjoy the ride very much, If you got on at somewhere over 800, then it might not be so much fun.

[SquallLeonhart]

Shit fuck

As usual, all panic only last like few hours..

[jcoin200]

So is this the new norm?  Look for "bad news", price crashes temporarily, and then goes back up 10-15% in a matter of hours?  Seems like its been happening frequently in the last few weeks.

[timmmers]

So is this the new norm?  Look for "bad news", price crashes temporarily, and then goes back up 10-15% in a matter of hours?  Seems like its been happening frequently in the last few weeks.

Yes it has, but it hasn't risen back to where it was like it used to. Volumes of transactions are very low, larger numbers of companies accept bitcoin now as payment but are actually exchanging them for currency via Bitpay or similar and actually selling the bitcoins in reality.

There's not going to be much incentive to mine them soon if their value drops to the region where a 10k rig doesn't stand a chance to break even, a lot of big ASICs wont even pay their power bills...then we'll have the rollercoaster on mining too as difficulty rises and falls.

Tough times, and they won't get better by us thinking they will.

[JamesALState]

So is this the new norm?  Look for "bad news", price crashes temporarily, and then goes back up 10-15% in a matter of hours?  Seems like its been happening frequently in the last few weeks.

Yes it has, but it hasn't risen back to where it was like it used to. Volumes of transactions are very low, larger numbers of companies accept bitcoin now as payment but are actually exchanging them for currency via Bitpay or similar and actually selling the bitcoins in reality.

There's not going to be much incentive to mine them soon if their value drops to the region where a 10k rig doesn't stand a chance to break even, a lot of big ASICs wont even pay their power bills...then we'll have the rollercoaster on mining too as difficulty rises and falls.

Tough times, and they won't get better by us thinking they will.

So you're saying not to buy in....I recently bought in at 800, and sold around 720. Would you recommend waiting until Wednesday to decide?

[BitChick]

Where's Rpietila?  He can say "I told you so." 

I guess the good news is that in spite of the panic selling because of Gox we are back near $700.

If someone asked if Gox closing would cause the price to drop to only $700 I would have been surprised.  It shows that the price has some tremendous support even with all the growing pains.  Hopefully with these "kinks" being worked out more secure and professional exchanges will emerge.  Time will tell.

[s_s]

So is this the new norm?  Look for "bad news", price crashes temporarily, and then goes back up 10-15% in a matter of hours?  Seems like its been happening frequently in the last few weeks.

Yes it has, but it hasn't risen back to where it was like it used to. Volumes of transactions are very low, larger numbers of companies accept bitcoin now as payment but are actually exchanging them for currency via Bitpay or similar and actually selling the bitcoins in reality.

There's not going to be much incentive to mine them soon if their value drops to the region where a 10k rig doesn't stand a chance to break even, a lot of big ASICs wont even pay their power bills...then we'll have the rollercoaster on mining too as difficulty rises and falls.

Tough times, and they won't get better by us thinking they will.

So you're saying not to buy in....I recently bought in at 800, and sold around 720. Would you recommend waiting until Wednesday to decide?

Buy high...sell low.

That isn't a very solid long-term investment strategy.

[TPN]

Can we have a drop to 300$?

[timmmers]

The number of transactions crashing isn't gox, https://coinbase.com/charts look at that dive. More than halved in less than a week, in a time period when so many retailers have now started to accept bitcoins.

[rohnearner]

Can we have a drop to 300$?

it can fall , all everyone should keep in mind is " hope for the best and prepare for the best " so lets see where it leads to..! but yeah it can fall to 300$ it already went down to some 100$ for few secs @btc-e..!

[asfbhero]

It fell cause mt. gox said bitcoin was fatally flawed (i think to push the price down to save their own asses), or just to try and save face.  Then It was revealed that the "problem" has been known since 2011, and mt. gox was modifying 0 confirmation transactions and fucked them selves.  Once that news came out BTC immediately reversed.  I bought on the news that mt gox was full of shit.

[CryptoPanda]

I say it will be $5000 by the end of 2014.
Please remember my words and PM me with curses if it doesn't happen.

[hostmaster]

just ignore MTGOX btc-e.com shows more real value

[leannemckim46]

Buy buy buy before it went up..

[zachcope]

When we get to 5 figure dollar/BTC prices no one will be able to say they didn't have the chance to buy some.

Bitcoin keeps giving opportunities for people to buy in.

The believers will be rewarded....

BTCBTCBTCBTCBTC

[TrollboxChamp]

When we get to 5 figure dollar/BTC prices no one will be able to say they didn't have the chance to buy some.

Bitcoin keeps giving opportunities for people to buy in.

The believers will be rewarded....

BTCBTCBTCBTCBTC

Great point. I try to get my mom to buy some. She bought 5 at 525 sold them at 825 for a quick profit.

She trades municipal bonds. Now she wont buy back in. She didnt listen to me at google IPO and shes not listening now 

[Chef Ramsay]

[Chef Ramsay]

take your pick