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Author Topic: OUCH! More Bad Bitcoin News...  (Read 8045 times)
barryblogs
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February 13, 2014, 11:09:00 PM
 #1

OUCH! More Bad Bitcoin News...

Bitcoin Crumbles To 3-Month Lows On Mt.Gox As CEO Defends Exchange

http://www.talkmarkets.com/content/news/bitcoin-crumbles-to-3-month-lows-on-mtgox-as-ceo-defends-exchange?post=40513
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Gabi
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February 13, 2014, 11:11:54 PM
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The price is just a number, it is low? Then it is a great moment to buy.

barryblogs
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February 13, 2014, 11:15:12 PM
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Unless it keeps going lower.  Been a lot of bad press lately.  Arrests in the US, Bitcoin made illegal in Russia, 2 out of 3 exchange halting withdrawals.  I respect you for keeping your cool far better than me.
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February 13, 2014, 11:15:51 PM
 #4

Once again, why id price on MtGox important to anyone? Arn't they dead?

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February 13, 2014, 11:26:54 PM
 #5

Nothing goes up in a straight line. Nothing.

Those of us around Bitcoin a while are very familiar with price dips. I view it as a great thing. People get so caught up on the price. Everybody views Bitcoin as some weird stock/investment anomaly. Bitcoin is a cur-ren-cy. Hint: a currency doesn't work if only a few people hold it. The cheaper Bitcoins are the more people can afford to access some significant number of them. Long periods of cheap Bitcoin prices mean more even and widespread distribution.
FeedbackLoop
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February 13, 2014, 11:29:57 PM
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Nothing goes up in a straight line. Nothing.

Those of us around Bitcoin a while are very familiar with price dips. I view it as a great thing. People get so caught up on the price. Everybody views Bitcoin as some weird stock/investment anomaly. Bitcoin is a cur-ren-cy. Hint: a currency doesn't work if only a few people hold it. The cheaper Bitcoins are the more people can afford to access some significant number of them. Long periods of cheap Bitcoin prices mean more even and widespread distribution.

Quoted for truth!  Smiley

Gabi
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February 13, 2014, 11:36:56 PM
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Unless it keeps going lower.  Been a lot of bad press lately.  Arrests in the US, Bitcoin made illegal in Russia, 2 out of 3 exchange halting withdrawals.  I respect you for keeping your cool far better than me.
I was here when it went from 30 to 2. No way a price of 450 scare me, from 30 to 450 is a good news here, not a bad one  Cheesy

barryblogs
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February 13, 2014, 11:37:35 PM
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Nothing goes up in a straight line. Nothing.

Those of us around Bitcoin a while are very familiar with price dips. I view it as a great thing. People get so caught up on the price. Everybody views Bitcoin as some weird stock/investment anomaly. Bitcoin is a cur-ren-cy. Hint: a currency doesn't work if only a few people hold it. The cheaper Bitcoins are the more people can afford to access some significant number of them. Long periods of cheap Bitcoin prices mean more even and widespread distribution.

That's a good point.  I'm still new to bitcoin.  Any chance the US would ever make it illegal?
runam0k
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February 13, 2014, 11:45:23 PM
 #9

3 year month low?

Time to throw in the towel.
BTCisthefuture
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February 13, 2014, 11:48:22 PM
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Nothing goes up in a straight line. Nothing.

Those of us around Bitcoin a while are very familiar with price dips. I view it as a great thing. People get so caught up on the price. Everybody views Bitcoin as some weird stock/investment anomaly. Bitcoin is a cur-ren-cy. Hint: a currency doesn't work if only a few people hold it. The cheaper Bitcoins are the more people can afford to access some significant number of them. Long periods of cheap Bitcoin prices mean more even and widespread distribution.

That's a good point.  I'm still new to bitcoin.  Any chance the US would ever make it illegal?

Unlikely, at least the US has showed no signs or interested in doing such a thing and instead realize it's creating news jobs and business opportunities.  The US does want to regulate it, so it's yet to be seen if regulations will be so harsh it cripples many of the benefits of bitcoin ever becoming massively adopted or if they will use more common sense regulations that allow bitcoin and the technology around it to flourish.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
FeedbackLoop
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February 13, 2014, 11:49:39 PM
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That's a good point.  I'm still new to bitcoin.  Any chance the US would ever make it illegal?

Read your press Joe (everyone should browse the Press sub-forum):

https://bitcointalk.org/index.php?topic=464099.0
https://bitcointalk.org/index.php?topic=463906.0

Bonus: a coin validation douche at the same table as a regulator at Bloomberg:

https://bitcointalk.org/index.php?topic=464037.0


All from today.
toddfletcher
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February 13, 2014, 11:49:48 PM
 #12

That's a good point.  I'm still new to bitcoin.  Any chance the US would ever make it illegal?

No reason to worry about that at this point because all indications are GO. The US wants to take the lead here and is afraid if we don't other countries will step in. For example:

http://www.coindesk.com/california-bill-bitcoin-lawful-money/
BTCisthefuture
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February 13, 2014, 11:51:16 PM
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Probably a good time to buy some bitcoin imo.  We've seen drops like this in the past on bad news and it's always rebounded for the most part.  It's only been a few days of bad news, lets come back and look about it in a few weeks/months at the earliest.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
jongameson
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February 13, 2014, 11:52:41 PM
 #14

OUCH! More Bad Bitcoin News...

Bitcoin Crumbles To 3-Month Lows On Mt.Gox As CEO Defends Exchange

http://www.talkmarkets.com/content/news/bitcoin-crumbles-to-3-month-lows-on-mtgox-as-ceo-defends-exchange?post=40513

oh cool it's back to $10 so i can buy 10 BTC to buy a gram of crack cocaine
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February 14, 2014, 12:04:04 AM
 #15

Prices will probably rise back up a bit once withdrawals are allowed again on bitstamp and gox.
Soros Shorts
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February 14, 2014, 12:23:10 AM
 #16

Unless it keeps going lower.  Been a lot of bad press lately.  Arrests in the US, Bitcoin made illegal in Russia, 2 out of 3 exchange halting withdrawals.  I respect you for keeping your cool far better than me.
I was here when it went from 30 to 2. No way a price of 450 scare me, from 30 to 450 is a good news here, not a bad one  Cheesy

Yeah, somehow I still remember you getting all excited when the price went to $7.

I know it already reached 7 but i was sleeping so i open the thread now.


EvilPanda
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February 14, 2014, 12:26:59 AM
 #17

Nothing goes up in a straight line. Nothing.

Those of us around Bitcoin a while are very familiar with price dips. I view it as a great thing. People get so caught up on the price. Everybody views Bitcoin as some weird stock/investment anomaly. Bitcoin is a cur-ren-cy. Hint: a currency doesn't work if only a few people hold it. The cheaper Bitcoins are the more people can afford to access some significant number of them. Long periods of cheap Bitcoin prices mean more even and widespread distribution.

Quoted for truth!  Smiley


Agree, somebody should write a bitcoin bible and quote it there!

Just realized that putting all the best bitcoin quotes together would be a great idea, maybe in a few years we'll see it printed in a milion copies Cheesy

designfail
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February 14, 2014, 12:32:15 AM
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Unless it keeps going lower.  Been a lot of bad press lately.  Arrests in the US, Bitcoin made illegal in Russia, 2 out of 3 exchange halting withdrawals.  I respect you for keeping your cool far better than me.
I was here when it went from 30 to 2. No way a price of 450 scare me, from 30 to 450 is a good news here, not a bad one  Cheesy

Back in that times banks were not issuing "warning" statements, Russia and China were silent about bitcoins, Mt. Gox were up and running, people were excited about new thing. This time it is different. They are teaching everyday Joes that bitcoin is only good for sex-dot-com and silk road. FUD. Growing electricity costs and falling exchange rate and growing diff - all this does not make financially feasible to keep mining. I dono.. Just thoughts.
krone9
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February 14, 2014, 12:35:05 AM
 #19

Quote
all this does not make financially feasible to keep mining. I dono.. Just thoughts.

so less people will mine, difficulty will drop and it becomes financially feasible again.

Lovely.
hellscabane
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February 14, 2014, 12:49:05 AM
 #20

Le sigh. Highs and lows always come and go.

Damn, that didn't rhyme so awesomely...
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