Someone is trying to intentionally tank Bitcoin price

[cryptocarroll]

"Bad" news seems to be coming out but most of it is misinformation it seems.  Bitcoin days have seem to have been destroyed for no reason.  A lot of things just don't make sense.

[Holliday]

"Bad" news seems to be coming out but most of it is misinformation it seems.  Bitcoin days have seem to have been destroyed for no reason.  A lot of things just don't make sense.

This is just the nature of the Bitcoin market. It's immature. It will act like this until it doesn't.

[TheButterZone]

http://www.youtube.com/watch?v=NajxJ54FAf0

[Bitcoin_is_here_to_stay]

"Bad" news seems to be coming out but most of it is misinformation it seems.  Bitcoin days have seem to have been destroyed for no reason.  A lot of things just don't make sense.

This is just the nature of the Bitcoin market. It's immature. It will act like this until it doesn't.

And also nature of stock/commodity/currency speculation. During bull market, almost everything is a good news, during bear market, it is opposite. I guess it clearly shows which phase we are in right now

[Tripjammer]

It's time to buy bitcoins...too bad you can't transfer them off of mt GOX it's hitting close to $400 there

[bobalo]

Why is everyone so upset? Bitcoin has been low before , it'll skyrocket again just like it did before.
Buy while you can

[WesandEAC]

I think this is EXACTLY how a market should function.  I am personally quite pleased in its performance.  It sure beats market makers and manipulation.  Pump and dumps have more credibility than a market maker.  Think about it.

A free market is the only market.  Our World markets exist today to mitigate natural market swings so the collective "doesn't freak out".  It is completely unnatural but it sure makes you feel easier haha.  This game is for the big boys my friend.

"Bad" news seems to be coming out but most of it is misinformation it seems.  Bitcoin days have seem to have been destroyed for no reason.  A lot of things just don't make sense.

This is just the nature of the Bitcoin market. It's immature. It will act like this until it doesn't.

[WuttWutt]

I think this is EXACTLY how a market should function.  I am personally quite pleased in its performance.  It sure beats market makers and manipulation.  Pump and dumps have more credibility than a market maker.  Think about it.

A free market is the only market.  Our World markets exist today to mitigate natural market swings so the collective "doesn't freak out".  It is completely unnatural but it sure makes you feel easier haha.  This game is for the big boys my friend.

"Bad" news seems to be coming out but most of it is misinformation it seems.  Bitcoin days have seem to have been destroyed for no reason.  A lot of things just don't make sense.

This is just the nature of the Bitcoin market. It's immature. It will act like this until it doesn't.

LOL

[Coin_Master]

The title of this thread is "Someone is trying to intentionally tank Bitcoin price".
That assertion is absolutely correct, and it has been happening for weeks.  Massive DDoS attacks on most pools, most exchanges, and now an ongoing "Transaction Malleability" attack.  It is clear that someone from the other side is not happy about the existence of Bitcoin.
This is not just the "nature of the Bitcoin market" as Holliday puts it.
This is not just the "nature of stock/commodity/currency speculation" as Bitcoin_is_here_to_stay puts it.
This is an attack, a multimillion dollar attack, lots of hardware, lots of skilled people, lots of hate.
Now the question is "what are we going to do about it?".

[Holliday]

This is not just the "nature of the Bitcoin market" as Holliday puts it.

Clearly you haven't been involved with Bitcoin for enough time. More often than not, someone is intentionally trying to tank the Bitcoin exchange rate. Therefor, it's simply the nature of the Bitcoin market.

[BADecker]

The title of this thread is "Someone is trying to intentionally tank Bitcoin price".
That assertion is absolutely correct, and it has been happening for weeks.  Massive DDoS attacks on most pools, most exchanges, and now an ongoing "Transaction Malleability" attack.  It is clear that someone from the other side is not happy about the existence of Bitcoin.
This is not just the "nature of the Bitcoin market" as Holliday puts it.
This is not just the "nature of stock/commodity/currency speculation" as Bitcoin_is_here_to_stay puts it.
This is an attack, a multimillion dollar attack, lots of hardware, lots of skilled people, lots of hate.
Now the question is "what are we going to do about it?".

"Now the question is 'what are we going to do about it?'."

There aren't really any get rich systems in life that work for everyone. If there were, then EVERYONE would be rich, and rich would not be rich; it would be average.

Bitcoin is not for getting rich, although there are a few that will. Bitcoin is for using as a medium of trade, the thing that money was supposed to be used for, until we found out that the bankers had turned it into a get-rich Ponzi.

The things we can do about it are:
Spread the message about how Bitcoin is better than money;
Use Bitcoin rather than hoard it;
Continue to develop innovations that use the Bitcoin pattern.

We are the people who can do this, The fact that we are in this forum and posting or commenting shows that we are.

[WesandEAC]

No one is tanking BTC.  The people who stole GOX, Silk Road, BTC-e and others are just rounding up there dollars.   I say kudos to them.  It will be done as soon as they get their $40 million.

[Coin_Master]

This is not just the "nature of the Bitcoin market" as Holliday puts it.

Clearly you haven't been involved with Bitcoin for enough time. More often than not, someone is intentionally trying to tank the Bitcoin exchange rate. Therefor, it's simply the nature of the Bitcoin market.

This is not the nature of Bitcoin, this attack has only ever happened once, and Bitcoin has been around for years.
One single incident does not make it the nature of something.

Bitcoin is for using as a medium of trade

That cannot happen while the network is suffering from a "Transaction Malleability" attack.

[Coin_Master]

No one is tanking BTC.

The attacks the very real, obviously you have no BTC to withdraw and cannot appreciate what that means.
When the movement of money is impeded, the value drops.  When the movement ceases, it usually destroys all value.
Think "Great Depression"
http://en.wikipedia.org/wiki/Great_Depression

(I really can't help you if you don't understand economics)

[Holliday]

This is not just the "nature of the Bitcoin market" as Holliday puts it.

Clearly you haven't been involved with Bitcoin for enough time. More often than not, someone is intentionally trying to tank the Bitcoin exchange rate. Therefor, it's simply the nature of the Bitcoin market.

This is not the nature of Bitcoin, this attack has only ever happened once, and Bitcoin has been around for years.
One single incident does not make it the nature of something.

This attack (transaction malleability) has only ever happened once. Many other attacks have happened over and over again since the beginning of Bitcoin.

[DaFockBro]

BitcoinSteve is behind this.

[Syke]

The title of this thread is "Someone is trying to intentionally tank Bitcoin price".
That assertion is absolutely correct, and it has been happening for weeks.  Massive DDoS attacks on most pools, most exchanges, and now an ongoing "Transaction Malleability" attack.

Yes!

It is clear that someone from the other side is not happy about the existence of Bitcoin.

Not necessarily. It could just as easily be someone who loves bitcoins, and is ready to buy a bunch at a great price. I for one am loving the price drop. It's allowing me to stock up on more bitcoins!

[Coin_Master]

BitcoinSteve is behind this.

Whoever it is "is fully resourced".  There have been many attacks as Holliday points out, but this one is different.
This is not your usual 51% attack (attempt to double spend).  This one is designed to disrupt the network.
That requires specialist knowledge and lots of very expensive hardware.  This part is different.

[DaFockBro]

BitcoinSteve is behind this.

Whoever it is "is fully resourced".  There have been many attacks as Holliday points out, but this one is different.
This is not your usual 51% attack (attempt to double spend).  This one is designed to disrupt the network.
That requires specialist knowledge and lots of very expensive hardware.  This part is different.

BitcoinSteve has every resource imagineable at his immediate disposal.

BitcoinSteve was definitely behind this.

[Coin_Master]

Not necessarily. It could just as easily be someone who loves bitcoins, and is ready to buy a bunch at a great price. I for one am loving the price drop. It's allowing me to stock up on more bitcoins!

So you agree with the title of this thread then, that "Someone is trying to intentionally tank Bitcoin price".  I rest my case.
It is not important who, or why.  Just that they are.