Someone is trying to intentionally tank Bitcoin price

[bg002h]

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.

Ok, who let pirateat40 out of his metal playpen with barbed wire fence?

[hgamezoom]

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?".

We can do nothing as of now ,the DDOS, attack is not the problem, but MtGox/Bitstamp halting withdraw is.
People just want their money back, so they sell to withdraw fiat, the price of MtGox/Bitstamp goes down, then other exchanges have to follow because of the arbitraging.

As soon as they resume withdraw, the price will go back to at least 600. Now the question is when?
The market is panic because Mtgox and Bitcoin Foundation cannot provide a time table when to fix it, if current situation last for 1 week more, then we will see price $100...

[Syke]

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.

Of course it is being manipulated! Why wouldn't it be?

[dissident]

sigh... my father says this about precious metals, that there are 'hidden hands' suppressing the price. No, it's called supply and demand. When 2% of the users hold 60% of the bitcoins something like this is always a possibility. Forget the fact that major exchanges aren't doing withdraws right now.

Yes it's being manipulated. I'll humor you and tell you what you want to hear. Everyone should just hold so it goes to $10,000 and we all live happily ever after. The end.

I want my $100 per coin price so I have a vested interest in watching it go down. Everyone should want it to go down... the lower it goes and the more of the coin gets out of these bitcoin millionaires the better the base we will establish.  People who got in at $1000 for the first time... sucks to be you.. that's life... you bought during a bubble. Live with it.

[DaFockBro]

BitcoinSteve was behind this.  He predicted the crash on Monday:

https://bitcointalk.org/index.php?topic=457615.0

[RobFordWotWot]

Bitcoin is a top-down system with a final boss. Good day.

[ShawnLeary]

Bitcoin is a top-down system with a final boss. Good day.

Like Apple?

Bitcoin will rise like the Phoenix in the coming weeks.   The new bottom has been found and now people will be ready to invest in it.  so many of the people I know, that trade commodities, say this needed to happen before they got in.  I think we will be stronger because of this and see it back to $1k in a few months.  May have to adjust my guess of $1650 year end price that I made on New Years Day.  

time to load up boys!!

[bobalo]

where the fuck can I buy bitcoins when they drop so low? Someone please PM me!!!

[seriouscoin]

The answer is way to obvious.... OP....

That someone is a fat fuck that slaughtered all the greedy pigs.

[Bitcoin_is_here_to_stay]

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

This is exactly why btc are almost $200 cheaper at Mt Gox than everywhere else

[quazmodiar19]

If that's the case, just take advantage of this situation as a buying opportunity!

 

[howardb]

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

You CAN still buy them there, if you want to trust them with your $!! and don't want to be able to widthdraw your BTC any time soon (or ever IMHO!).

[Coin_Master]

What's this?  The "Transaction Malleability" attack stops and the price jumps 100 USD instantly.  It just shows I was right!
The assertions made by the OP have been proved correct "Someone is was trying to intentionally tank Bitcoin price".

[roslinpl]

It is not going to be like that .

So dont worry.

Price will not drop to 100$
and attacks will never stops too.


There is always a war between hackers and programmers.

[hamiltino]

sell orders can't destroy bitcoin is just lowers the price. So what.

[vpitcher07]

That "someone" is the 12 year old script kiddies who think they're baddass by launching these TX malleability "attacks" and DDOS's... Nothing more...

[DoctorOz]

"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.

Its difficult, its an immature market that had high growth due to speculation. Now btc will find its market vale price. My prediction 150usf

[OceanWhispers]

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.

I was going to say this but now I don't have to. Quoted for truth!

I nicked your post for my sig Coin_Master

[Armis]

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.

The market isn't free if your cash is in prison.

[Armis]

sigh... my father says this about precious metals, that there are 'hidden hands' suppressing the price. No, it's called supply and demand. When 2% of the users hold 60% of the bitcoins something like this is always a possibility. Forget the fact that major exchanges aren't doing withdraws right now.

Yes it's being manipulated. I'll humor you and tell you what you want to hear. Everyone should just hold so it goes to $10,000 and we all live happily ever after. The end.

I want my $100 per coin price so I have a vested interest in watching it go down. Everyone should want it to go down... the lower it goes and the more of the coin gets out of these bitcoin millionaires the better the base we will establish.  People who got in at $1000 for the first time... sucks to be you.. that's life... you bought during a bubble. Live with it.

hahahhaaaa 

if you buy at $100 and it goes to $0.00001, how will you feel?


BTC, has true value at this stage in it's development at about $400, everything else is diversified hype, so I agree $100 would be a steal, but if it goes below $400 I will have my shopping care ready to fill it long before it reaches $100 (of course hoping it does a Uie before it gets there.