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Kiki112 (OP)
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February 20, 2014, 08:24:06 PM |
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The title is mostly self explanatory  Don't say Illuminati |
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thephill97
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Activity: 70
Merit: 10
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February 20, 2014, 08:24:32 PM |
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The title is mostly self explanatory Don't say Illuminati Are you under a rock? Must be one heck of a rock. |
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Kiki112 (OP)
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February 20, 2014, 08:34:45 PM |
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The title is mostly self explanatory Don't say Illuminati Are you under a rock? Must be one heck of a rock. dude, this is why I posted it in the Beginners&Help section |
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CanadaBitcoinCorp
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Activity: 5
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February 20, 2014, 09:01:06 PM |
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The major reason right now is because the MtGox exchange seems to be having a number of difficulties across the board (usage, communication, management, and more!) and as a result is bringing other exchanges down as confidence slips a little and the price along with it. Dealing with them is almost akin to gambling, and people are basically betting (or not betting) if MtGox is solvent or insolvent (and their price per BTC is somewhere around $150). This is a pretty simple explanation, but there are a lot of other discussions going on which you can check out.
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hilariousandco
Global Moderator
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Activity: 3822
Merit: 2633
Join the world-leading crypto sportsbook NOW!
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February 20, 2014, 09:01:26 PM |
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Panic sellers, essentially.
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Kiki112 (OP)
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February 20, 2014, 09:08:52 PM |
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that's what I thought and that's too bad  I thought Bitstamp would remained unaffected by the MtGox malfunction  |
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BitCoinDream
Legendary
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Activity: 2324
Merit: 1204
The revolution will be digital
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February 20, 2014, 09:09:10 PM |
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The title is mostly self explanatory Don't say Illuminati Some people wanted to book profit. So sold. Bear run. Dont worry. 10k USD by 2015 end  |
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Kiki112 (OP)
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February 20, 2014, 09:10:16 PM |
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The title is mostly self explanatory Don't say Illuminati Some people wanted to book profit. So sold. Bear run. Dont worry. 10k USD by 2015 end I sure hope so |
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Gabi
Legendary
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Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
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February 20, 2014, 09:13:20 PM |
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Mostly panic selling/sell now and buy later at a cheaper price
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DrHerbSmoker
Newbie
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Activity: 42
Merit: 0
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February 20, 2014, 09:15:48 PM |
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the price will goback up wwith more positive media. think about all the negatives that have been going on. to me that just shows how strong bitcoin is overall
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RodeoX
Legendary
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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February 20, 2014, 09:21:13 PM |
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Awww. I was gona say Illuminati. My theory. Mr. unsophisticated investor, meet Mr. unregulated market. |
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debianlinux
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February 20, 2014, 09:25:37 PM |
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Because change was necessary and good but the transition is going to be a little bumpy. mtgox was a hinderance. Ridding our community of this hinderance creates a vacuum in transition. Ultimately our market will flourish where it previously could not. This is all good news for those who aren't preoccupied with the near term state of things.
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Wendigo
Legendary
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Activity: 2604
Merit: 1036
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February 20, 2014, 10:23:15 PM |
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No Chinese involved any more eh |
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DannyHamilton
Legendary
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Activity: 3402
Merit: 4656
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February 20, 2014, 10:42:08 PM |
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The title is mostly self explanatory Don't say Illuminati Take your pick: - Charlie Shrem arrested
- Silk Road 2.0 hacked
- Various countries putting into place various restrictions and declarations about bitcoin
- Florida arrest of 2 individuals selling bitcoins on localbitcoins.com
- Transaction Malleability concerns
- MtGox halting all withdrawals for an extended period of time
- General anxiety among people who were hoping for a faster increase in exchange rate
- Panic among those that exchanged money they couldn't afford to risk
I'm sure there are others I'm missing. It'll all blow over eventually. I won't be surprised to see exchange rates as high as $2000 per bitcoin before the end of 2014. (of course, I also won't be surprised to see exchange rates as low as $10 per bitcoin before the end of 2014 either). |
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evansearle42
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February 21, 2014, 12:57:53 AM |
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Early adopters are cashing out..
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apsvinet
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February 21, 2014, 01:43:37 AM |
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Wasn't it basically the problems with MtGox that made people sell
huge amounts in panic with the first crash, therefore causing the
price to fall even more? Prices go up, prices go down, it'll probably
stay about this price for a bit and slowly start crawling back up.
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chopstick
Legendary
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Activity: 992
Merit: 1000
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February 21, 2014, 01:58:37 AM |
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We got goxxed hard. I've been watching bitcoin since early 2012. Getting goxxed is nothing new...they are like a cancerous tumor on the whole bitcoin community.
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EdwinSebastian
Newbie
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Activity: 23
Merit: 0
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February 21, 2014, 02:19:50 AM |
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possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol
btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.
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DrHerbSmoker
Newbie
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Activity: 42
Merit: 0
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February 21, 2014, 02:21:45 AM |
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possibility case :
price btc go down because silkroad get hacked.
and the hacker using mtgox to cash out the money. lol
btc price is about the demand.
i can tell 40% ppl using bitcoin to buy drugs,etc on silkroad.
50% is miner
10% trader
without silkroad btc is nothing.
silkroad is most certaintly a good portion of bitcoins use i agree with this statement |
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