And the Downfall continues

[Hfertig]

I've started buying at $501.  The tech issue will eventually be fixed and the price will rocket.  Anyone selling today is a fool.

But what if all exchanges drop below 500 before it is fixed ? Don´t get me wrong, I agree on what you are saying but somehow it is too easy and something seems odd. Why would people be selling below 500 prices ?

because the game is over, and time is for lawsuit against MTGox and Bitstamp.

I agree on the game over part. What is the basis for the lawsuit ?

[igorr]

I've started buying at $501.  The tech issue will eventually be fixed and the price will rocket.  Anyone selling today is a fool.

But what if all exchanges drop below 500 before it is fixed ? Don´t get me wrong, I agree on what you are saying but somehow it is too easy and something seems odd. Why would people be selling below 500 prices ?

because the game is over, and time is for lawsuit against MTGox and Bitstamp.

I agree on the game over part. What is the basis for the lawsuit ?

First you have to consult with your attorney.

[sraosha]

We are doomed.
Why are you so optimistic saying it will be 100 USD? According to my higjly accurate calculations it will drop at least to under 3 USD within a month.

8 $ is a lucky number. I believe all Chinese will buy again only at 8 … or maybe 8 Yuan.

[sraosha]

Panic selling continues.....GOX is about to fall below 500 next stop....100

You're looking at the wrong picture , it's not bitcoin that it's falling , it's Gox.

Both wrong. It's the $ falling even faster. And the € and the Yen and the Rupee…

[stompix]

Panic selling continues.....GOX is about to fall below 500 next stop....100

You're looking at the wrong picture , it's not bitcoin that it's falling , it's Gox.

Both wrong. It's the $ falling even faster. And the € and the Yen and the Rupee…

If you're feeling that way , it's you who's falling

[igorr]

Gox 420 usd China also hard fall

[Edward50]

We are doomed.
Why are you so optimistic saying it will be 100 USD? According to my higjly accurate calculations it will drop at least to under 3 USD within a month.

This is perhaps the most resilient currency that has ever existed, lol. Lets put this in to perspective.

• Apple bans Bitcoin Apps
• Chinese and Russian state ban
• BTC is painted with the same brush as black market drug dealers through silk road
• Bitcoin is red taped
• MT Gox - The Bitcoin equivalent of Wall Street suspends trading
• Transaction malleability announced
• DDoS attacks

And here we are Thursday 13th of February 2014 12:05pm and 1 Bitcoin = $655.8

All good reasons to cash out ASAP before it falls even further if you ask me. There are still many perma bulls thinking we are going to 10K and are holding. You still have some time to get what I consider a high price for a bitcoin.

[beaconpcguru]

Did you not consider 2$ a high price as well in 2012?  You can stop being bitter about it already, its done and over with. 

[DPoS]

Lets see what happens when you can actually pull you coins out of BTC-e, Gox, And BitStamp. 

the Irony is that all the smack talk of being shady that BTCe has lived through they are the most legit..  coins still flowing in and out with no issues.
They did a quick wallet update the other day which was less than a few hours and the only issue they had was DDoS a few times

They've been the smartest folks in the room for a long while

[Impaler]

Lets see what happens when you can actually pull you coins out of BTC-e, Gox, And BitStamp.

the Irony is that all the smack talk of being shady that BTCe has lived through they are the most legit..  coins still flowing in and out with no issues.
They did a quick wallet update the other day which was less than a few hours and the only issue they had was DDoS a few times

They've been the smartest folks in the room for a long while

That's why unregulated markets don't' work like a libertarian fantasy, the bad actors do down, but they pull the rest down with them, and BTC has always been dominated by clownishly bad actors.  BTCe might be the smartest person in the room, but is is trapped inside a room full of people that are burning the house down, that ain't a smart place to be.

[cbeast]

Lets see what happens when you can actually pull you coins out of BTC-e, Gox, And BitStamp. 

the Irony is that all the smack talk of being shady that BTCe has lived through they are the most legit..  coins still flowing in and out with no issues.
They did a quick wallet update the other day which was less than a few hours and the only issue they had was DDoS a few times

They've been the smartest folks in the room for a long while

I have a feeling that at BTC-E, incompetence is not tolerated and is dealt with severely. Just saying.

[donate2me]

And GOX hits 360....ouch!

[Cluster2k]

Whenever bitcoin's price rises we get many smug 'gee guys, thanks for selling to be at $X as I've just made a killing at $X+200'.  I'm waiting for the 'thank you to everyone who bought my $1000 bitcoins now that the price is $Y'.  That's when you'll know the market has hit the bottom. 

[DPoS]

That's why unregulated markets don't' work like a libertarian fantasy, the bad actors do down, but they pull the rest down with them, and BTC has always been dominated by clownishly bad actors.  BTCe might be the smartest person in the room, but is is trapped inside a room full of people that are burning the house down, that ain't a smart place to be.

I have a feeling that at BTC-E, incompetence is not tolerated and is dealt with severely. Just saying.

good points

[efarah2549]

Lets see what happens when you can actually pull you coins out of BTC-e, Gox, And BitStamp.

the Irony is that all the smack talk of being shady that BTCe has lived through they are the most legit..  coins still flowing in and out with no issues.
They did a quick wallet update the other day which was less than a few hours and the only issue they had was DDoS a few times

They've been the smartest folks in the room for a long while

That's why unregulated markets don't' work like a libertarian fantasy, the bad actors do down, but they pull the rest down with them, and BTC has always been dominated by clownishly bad actors.  BTCe might be the smartest person in the room, but is is trapped inside a room full of people that are burning the house down, that ain't a smart place to be.

haha that is hardly the case.  If this were an unregulated market than Americans would be able to enter in instead anyone in a first world country looking to set up is stopped by fees and a mountain of paperwork.  This oppressive regulation keeps honest small players from entering the market and forces them to settle with scam companies like mt gox.

I have a feeling that at BTC-E, incompetence is not tolerated and is dealt with severely. Just saying.

that is because we know BTC-e while pseudo anonymous are not as incompetent.  everywhere else it seems to be private gains and socialized loses.  funny how we all have to pay for the incompetence of what is basically a couple bitcoin central bankers

[bryant.coleman]

Trade volumes are very low... so people are not dumping their coins... its is just that the demand is very low.

[smoothie]

How are you figuring it goes from $500 to $100? Or are you just guessing the same thing that happened on btc-e the other day will happen again?

Can't withdraw fiat - CHECK

Can't withdraw BTC - CHECK

Price can go to $99999999999 or $0 because that price means nothing if the exchange isn't operating at all.

At least you can get fiat out on the other exchanges for the time being.

[Sage]

Yep the game is over.

Sell all your coins.  Sell sell SEELLLL.  As a pure public service to the community I'll take them offer your hands.

"principle of maximum pessimism"  google it.

[Searing]

We are doomed.
Why are you so optimistic saying it will be 100 USD? According to my higjly accurate calculations it will drop at least to under 3 USD within a month.

This is perhaps the most resilient currency that has ever existed, lol. Lets put this in to perspective.

• Apple bans Bitcoin Apps
• Chinese and Russian state ban
• BTC is painted with the same brush as black market drug dealers through silk road
• Bitcoin is red taped
• MT Gox - The Bitcoin equivalent of Wall Street suspends trading
• Transaction malleability announced
• DDoS attacks

And here we are Thursday 13th of February 2014 12:05pm and 1 Bitcoin = $655.8

er you may have a point.i've made my 41 btc on mining with an oct juptier knc 555gh...so i'm probably good for ROI at $173.94 btc or above

my question is if i gamble long term....and buy some btc on mtgox for the stupid low rate and really don't care if it takes 6 weeks to xfer it someplace else or whatever

assuming my premise above that this is a panic and tech issues will be fixed etc

is this a  plan ?

OR  does www.mtgox.com take 2 weeks as i've heard to take a wire xfer and then you get the BTC at that price..not the price when you made the buy

or again this is dumb cause mtgox is gonna go belly up and i'd lose my $$$

again noob on trading ...all my funds so far are mining looking at this as a panic long term hold ...after any purchases i make

anyway muck me up on the logic of any of this or the wisdom of buying low on mtgox....(assuming with DDOS attacks that is even possible on any exchange)

thanks for the help in advance

Searing

[Sage]

We are doomed.
Why are you so optimistic saying it will be 100 USD? According to my higjly accurate calculations it will drop at least to under 3 USD within a month.

This is perhaps the most resilient currency that has ever existed, lol. Lets put this in to perspective.

• Apple bans Bitcoin Apps
• Chinese and Russian state ban
• BTC is painted with the same brush as black market drug dealers through silk road
• Bitcoin is red taped
• MT Gox - The Bitcoin equivalent of Wall Street suspends trading
• Transaction malleability announced
• DDoS attacks

And here we are Thursday 13th of February 2014 12:05pm and 1 Bitcoin = $655.8

er you may have a point.i've made my 41 btc on mining with an oct juptier knc 555gh...so i'm probably good for ROI at $173.94 btc or above

my question is if i gamble long term....and buy some btc on mtgox for the stupid low rate and really don't care if it takes 6 weeks to xfer it someplace else or whatever

assuming my premise above that this is a panic and tech issues will be fixed etc

is this a  plan ?

OR  does www.mtgox.com take 2 weeks as i've heard to take a wire xfer and then you get the BTC at that price..not the price when you made the buy

or again this is dumb cause mtgox is gonna go belly up and i'd lose my $$$

again noob on trading ...all my funds so far are mining looking at this as a panic long term hold ...after any purchases i make

anyway muck me up on the logic of any of this or the wisdom of buying low on mtgox....(assuming with DDOS attacks that is even possible on any exchange)

thanks for the help in advance

Searing

Unless your wealth is in Gox I wouldn't gamble with them.

If it is in Gox, I would be progressively buying in through the dip... budget yourself to buy in progressively all the way down to $100.  Stick to your plan.  Whether it's getting your fiat out or your coins out likely doesn't matter if they are insolvent.  If they are solvent, then you got some hella deals on Bitcoins.  Better to get cheap Bitcoins then stale fiat.

If it's not in Gox, then take advantage of Gox's ineptitude.

Gox is pulling the whole market down.  Split your wealth among a few exchanges.  Set orders to buy in all the way down to $100 progressively buying in at greater rates as the price falls.

Stick to your plan and short of a total system collapse you will not lose.

The lemmings are selling.  Smart money is buying.  There is nothing fundamentally wrong with Bitcoin.

More will be made because of this fall then likely any other time in the next 18-24 months.