$473 on bitstamp? WTH!

[64dimensions]

There was an article on the web not to long ago about the current method to move lots of money out through human smugglers.

Bitcoin offers an inexpensive way plus family members could be used. I find it hard to believe that BTC will be outlawed given that the wealthy are the main users.

Maybe all these bank rumors are a message that someone high up in a position of authority, wants their cut.

[PreDeadMan]

This is going to sound embarrassing i've been buying and selling bitcoins for like over a year now and i've lost track if i'm currently losing money or up any money...  i suck with math and there's so many pages of transactions is there a program to import everything into it and see lol.... (yeah this is pretty bad hahaha) any help would be appreciated i use coinbase...

[lnternet]

This is going to sound embarrassing i've been buying and selling bitcoins for like over a year now and i've lost track if i'm currently losing money or up any money...  i suck with math and there's so many pages of transactions is there a program to import everything into it and see lol.... (yeah this is pretty bad hahaha) any help would be appreciated i use coinbase...

Just look at total: Total USD deposited and withdrawn, then compare that to your current BTC value

Otherwise: http://www.coinreporting.com/ lets you import your trading history and shows nice data

[turk]

I have yet to figure out what "FUD" stands for.

This link explains it very well: http://lmgtfy.com/?q=fud

Oh ho ho!  You got me there.  I haven't been around this community long so I didn't know if that was the actual meaning around here.

[64dimensions]

There was an article on the web not to long ago about the current method to move lots of money out through human smugglers.

Bitcoin offers an inexpensive way plus family members could be used. I find it hard to believe that BTC will be outlawed given that the wealthy are the main users.

Maybe all these bank rumors are a message that someone high up in a position of authority, wants their cut.

coherent much?

Translation for the small head crowd:

In China there is a great demand for money smugglers. Many close knit organizations exist smuggle money for a cut. Bitcoin offers an inexpensive way to move money around, especially if you have family/relatives working or going to school in the states. Basically BTC offers a capability to move money out of China for the middle class/small business person. This is a big deal. The rumors might be a signal that some one or some organization wants their cut.

[herebittybittybitty]

I'm not really bothered even if every government bans Bitcoin. There will always be ways to convert to fiat money or goods and services.

I wouldn't want to be a speculator, though. I expect that the exchange rate will always fluctuate violently.

[amspir]

link?

http://english.caixin.com/2014-03-27/100657518.html

[KrakenB]

I'm not a Bitcoin maniac, so I'm not gonna say I hate to say it, but I did predict this on March 8th when BTC traded at $620:

I'm quite bearish on Bitcoin's short-term price.

Admit it, the current media coverage is quite negative. And there is no outsight of this changing. Quite the contrary, it's only a matter of time until another exchange gets hacked and BTC makes another dive.

Furthermore, we're on the brink of more regulations. And what do you think will happen when, as rumored, part of Mt. Gox coins are released and everyone jumps to the exit?

If there was a valid way to short BTC, buy put options or even buy a CDS on a BTC index, I'd be all over it right now.

We haven't hit rock bottom yet. Bitcoin is doomed. Mark my words.

[vpitcher07]

I smell a FAT bear trap. (I hope). Price will rebound to 540 then stabilize back to the 520 we've seen lately. Just my guess.

[EvilPanda]

I'm not a Bitcoin maniac, so I'm not gonna say I hate to say it, but I did predict this on March 8th when BTC traded at $620:

I'm quite bearish on Bitcoin's short-term price.

Admit it, the current media coverage is quite negative. And there is no outsight of this changing. Quite the contrary, it's only a matter of time until another exchange gets hacked and BTC makes another dive.

Furthermore, we're on the brink of more regulations. And what do you think will happen when, as rumored, part of Mt. Gox coins are released and everyone jumps to the exit?

If there was a valid way to short BTC, buy put options or even buy a CDS on a BTC index, I'd be all over it right now.

We haven't hit rock bottom yet. Bitcoin is doomed. Mark my words.

We got a clairvoyant here! Quickly, sell your bitcoins! Why? Because Mr. Newbie said it's doomsday, mark his words!

[dmartig]

fucking A lol i have 30 bitcoins already now i see the price drop pretty fast should i buy more? and how high will it rebound within a few days or a week? what is the expert speculation?

it's $511 now it has bottomed out. buy as much as you can the whales are going to be in
soon and it will be over $600 in a week

[b¡tco¡n]

It has been down to the 400's so many times in the last few months. It's a yawnfest.

I took out my original fiat stake when we were at 630, so I am now playing with 'free coins' I made by reading so I care less about the price now. If it goes down to 100 I'll inject some new fiat.

[epplercharles]

After all these years i avoided bitcoin, but just month ago i purchased 5 bitcoins.
After my purchase it never went up. Day by day the price is dropping. My bad luck:-[

[ebliever]

I have lost everything. I am very depressed. Really. I am poor and I invested everything hoping to earn fast as others did but I have lost already half of my entire money. I cannot even go out. I only hope for the future.

I'm very sorry to hear that, and I hope it is less severe than you think right now. It should bounce back sooner than later, I think. If you have an income and can live within your means you will recover.

When I was (briefly) a financial planner I was taught this advice: Savings should be structured like a pyramid. You want a stable, conservative base. Not something to get rich quick with, but something that you won't lose and will provide for emergencies and needs down the road. Then as you get more savings without any near or mid-term need for it (like a car in a few years or a summer vacation coming up), you can pick riskier, higher-return investments. But build the foundation first, and make sure those near and mid-term needs are covered with safe investments for when the time comes and you need that money.

[luv2drnkbr]

oh noes the price is only 4x higher than it was 6 months ago.  we're all doomed.

[counter]

The original poster brings up a good question.  But I think alot of people got caught out there holding the bag so to speak and their hands are a bit shaky but who knows certainly not this guy.

[5thStreetResearch]

just look at the chart.  Its called a downtrend and it is well intact at the moment.

[jc01480]

Show me your poker face!  Lol

[ZooKeeper74]

My experience with BTC.

Bought in, price dropped, bought in, price dropped, bought in, price dropped bought in price dropped.   Ive seen one gain while holding coins I didnt have to get rid of to pay for the massive drops in exchange rate, and could get no sell orders queued because the btc billionaires started selling cheap the same moment.  I dont not believe these bitcoin billionares I speak of are individuals who invested but are the same groups who manipulate the markets.

Daytrading has wasted my last 3 years, its amazing how much time we spend on 'hope' when we could just be doing something, producing something of value, offering a service, learning something new,etc. Trying to make money I didnt earn has been a wakeup,. Not bashing anyone,but this is worse than gambling, because families lose out when you cash in, not a casino. Every extra piece of pie is on that came off someone elses plate.

I will be 100% honest, I feel like BTC will never spike upwards again. 

Im done.  The only way I've broke even is rapid selling at dishonestly high increases for payment methods that scream "Minor buying drugs on Silk Road" (would else would pay 25% over?), now that fed has btc on the books, turns out theres a good chance they created it (Yes Dorian is the creator, care to acknowledge who he was working for at the time??) to create financial criminals out of average citizens, to play a role in the destruction of the dollar and help bring about new currency laws [which will make owning untrackable currency illegal], I dont need the IRS knocking on my door 10 years from now over some legal-financial technicality no current legal team would understand, but thats exactly what I see coming out of the whole ordeal. The United States government has shown us all that they criminalize income more than anything.


Bitcoin was created by the collective forces that desire to criminalize the un approved, un documented, private transfer of money. You will see a time in our lifes where it is illegal for even five dollars to trade hands without being recorded to a federal server.

[counter]

I think the shorter and more humurous answer to the OP's question would be Panic Sell Attack !!