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Author Topic: Price is going downhill !  (Read 1780 times)
bananas
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February 25, 2014, 06:22:00 AM
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Anyone who still at a profit i will advise to sell asap.
If you are not on a profit better hold.

How low you people think it will go?
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February 25, 2014, 06:31:19 AM
 #2

Anyone who still at a profit i will advise to sell asap.
If you are not on a profit better hold.

How low you people think it will go?

For those like me who live off BTC, it was a question of survival to anticipate their insolvency about 4 weeks ago and exchange some BTC so I can live off fiat for the coming months. Then price will recover to pre-goxxed prices. The lowest price between these two moments in time isn't really relevant to me.

The problem is not the insolvency of Gox itself. As many other people who live off BTC, I haven't been using Gox since the day they convinced me of their incompetence and inability to properly handle a situation back in April 2013.

Bitstamp, BTC-e and private trades have been more than enough for my BTC <=> USD needs since then.

So, the "problem" is actually only the obvious, inevitable panic sell that is the direct consequence of the bad press that Bitcoin will collect thanks to the inevitable, despicable association between Bitcoin and MtGox in the 'collective mind', lagging about 9 months behind the actual shift of volumes between major exchanges (from 80% in 2012 to about 30% volume before shutdown).

Keep your hands strong Wink
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February 25, 2014, 07:04:46 AM
 #3

Not going downhill much (yet). I've been fairly impressed with how the price has held up the last couple of weeks, and continue to be. I think it's a benefit of not having proper trading hours, I suppose. No days means no day traders who all only have positions open at the same times of 'day'.
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February 25, 2014, 07:07:11 AM
 #4

I expect price to go down temporarily to 350 and in a week to go back to 800
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February 25, 2014, 07:14:40 AM
 #5

I have some BTC and $10 sitting idle on exchange. Let me place a buy order for 10 BTC at $1 each. Cheesy
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February 25, 2014, 07:39:30 AM
 #6

Anyone who still at a profit i will advise to sell asap.
If you are not on a profit better hold.

How low you people think it will go?

For those like me who live off BTC, it was a question of survival to anticipate their insolvency about 4 weeks ago and exchange some BTC so I can live off fiat for the coming months. Then price will recover to pre-goxxed prices. The lowest price between these two moments in time isn't really relevant to me.

The problem is not the insolvency of Gox itself. As many other people who live off BTC, I haven't been using Gox since the day they convinced me of their incompetence and inability to properly handle a situation back in April 2013.

Bitstamp, BTC-e and private trades have been more than enough for my BTC <=> USD needs since then.

So, the "problem" is actually only the obvious, inevitable panic sell that is the direct consequence of the bad press that Bitcoin will collect thanks to the inevitable, despicable association between Bitcoin and MtGox in the 'collective mind', lagging about 9 months behind the actual shift of volumes between major exchanges (from 80% in 2012 to about 30% volume before shutdown).

Keep your hands strong Wink

I was asked in early 2012,"why don't you use Mt Gox Huh ".

After the first crash they caused by getting hacked, in late 2011 during the $30 run.I had put 10BTC in Gox to trade with,ran that up to 36BTC @ $6 each in about 5 weeks,not a big deal,but they were stolen,with a good password no less.

Ever since then I've steered maybe 20 folks away from Gox,cept my bro's wife,who I think sunk 40-50BTC in Gox for "safe keeping" about 3 weeks or so ago  Cheesy Cheesy

Gox needs to die off so Bitcoin can grow!!!!!!!!!!!!!

"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole."  -Raylan Givens
Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be
"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan Smiley
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February 25, 2014, 07:46:28 AM
 #7

Anyone who still at a profit i will advise to sell asap.
If you are not on a profit better hold.

How low you people think it will go?

For those like me who live off BTC, it was a question of survival to anticipate their insolvency about 4 weeks ago and exchange some BTC so I can live off fiat for the coming months. Then price will recover to pre-goxxed prices. The lowest price between these two moments in time isn't really relevant to me.

The problem is not the insolvency of Gox itself. As many other people who live off BTC, I haven't been using Gox since the day they convinced me of their incompetence and inability to properly handle a situation back in April 2013.

Bitstamp, BTC-e and private trades have been more than enough for my BTC <=> USD needs since then.

So, the "problem" is actually only the obvious, inevitable panic sell that is the direct consequence of the bad press that Bitcoin will collect thanks to the inevitable, despicable association between Bitcoin and MtGox in the 'collective mind', lagging about 9 months behind the actual shift of volumes between major exchanges (from 80% in 2012 to about 30% volume before shutdown).

Keep your hands strong Wink

I was asked in early 2012,"why don't you use Mt Gox Huh ".

After the first crash they caused by getting hacked, in late 2011 during the $30 run.I had put 10BTC in Gox to trade with,ran that up to 36BTC @ $6 each in about 5 weeks,not a big deal,but they were stolen,with a good password no less.

Ever since then I've steered maybe 20 folks away from Gox,cept my bro's wife,who I think sunk 40-50BTC in Gox for "safe keeping" about 3 weeks or so ago  Cheesy Cheesy

Gox needs to die off so Bitcoin can grow!!!!!!!!!!!!!
So we are going to see BTC growth as MtGOx has dead

Bitcoin is our past, present and future!
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February 25, 2014, 07:47:45 AM
 #8

Still if Gox goes, the Crypto community might go also. At least in the Public View.

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February 25, 2014, 09:05:08 AM
 #9

Still if Gox goes, the Crypto community might go also. At least in the Public View.

I don't think so.....it's a new start!!!!!!!!  Grin

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February 25, 2014, 09:09:33 AM
 #10

I have some BTC and $10 sitting idle on exchange. Let me place a buy order for 10 BTC at $1 each. Cheesy

You are so right! But don't be a pig, bid for 0.1btc @$100, at least there is a chance it will be filled  Wink
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February 25, 2014, 09:11:44 AM
 #11

For me its a matter of If I sell now how much more can I buy later and what are those chinese doing
http://fiatleak.com/

Saw it in another thread so it made me go wow Such China

Luno
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February 25, 2014, 09:43:25 AM
 #12

Gox can't just be forgotten or go away as people wish for.

It just leaves too many questions like who knew, were other exchanges in on it, did the assets really disappear?

Gox rotten corpse is still fouling the well everybody is drinking of!

A proper burial demands answers.
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February 25, 2014, 10:23:31 AM
 #13

is there any truth to this? http://www.scribd.com/doc/209098983/MtGox-Situation-Crisis-Strategy-Draft-With-No-black-Bars
I was hoping they would be gone for good
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February 25, 2014, 12:46:26 PM
 #14

Looks at all the cheap coins going to china, if you can believe fiatleak stats.

 Grin

Dime 7Q3cZtyJemmE8pJsrYgX24mHnkqZX6M6hP
BTC 18vbvovBeM5ZTZqR5ZWAy75EXE7qTNipuo
Mooncoin 2QgyivUMa7Zun6oPdxeE1yry1aNp5hqrDb
LTC Lg3UYGCAe3Tb146PiMqeGNLR7bnjdM447d
Doge DPd1XejW8TabJu5gfjyKnuQYQ9Vzw1anXN
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February 25, 2014, 02:35:38 PM
 #15

Gox needs to die off so Bitcoin can grow!!!!!!!!!!!!!

It's like cancer.

Guess it's a good time to buy BTC for newcomers.
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February 25, 2014, 02:38:45 PM
 #16

I'm fascinated by this Karpeles dude... What will be his next move.
rograz
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February 25, 2014, 02:42:12 PM
 #17

Gox needs to die off so Bitcoin can grow!!!!!!!!!!!!!

Slowly bleeding out would have been a lot better than the potential implosion we are facing however. The media will have fuel for their negative Bitcoin propaganda for months if gox announces insolvency.
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February 25, 2014, 02:54:53 PM
 #18

Gox needs to die off so Bitcoin can grow!!!!!!!!!!!!!

Slowly bleeding out would have been a lot better than the potential implosion we are facing however. The media will have fuel for their negative Bitcoin propaganda for months if gox announces insolvency.

agree

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February 25, 2014, 03:29:40 PM
 #19

Gox needs to die off so Bitcoin can grow!!!!!!!!!!!!!

Slowly bleeding out would have been a lot better than the potential implosion we are facing however. The media will have fuel for their negative Bitcoin propaganda for months if gox announces insolvency.

agree

Ummmm, Gox has been bleeding out slowly for a long time now.  The MtGox withdrawal delays thread has been running since April.
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