$473 on bitstamp? WTH!

[amspir]

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 feel for you on your losses today, but seriously when did you think day trading wasn't gambling?  Some people are good at it, some people aren't.   I like gambling as well, but I know enough not to "invest" the rent or grocery money on gambling.  I really like bitcoin, but I still keep 2/3rd of my fungible assets as cash.  I saw about a grand worth of USD evaporate today on my bitcoin holdings, but I've seen it go up as fast as it goes down.   If I really couldn't do without that grand, I wouldn't have bought bitcoin with it.

Bitcoin is going to be very volatile until the tipping point where commerce is greater than speculation.   I think American companies like Coinbase and Bitpay are going to make this happen in the USA.  Americans are much too libertarian to allow a government crackdown on bitcoin.   For example, there's horrific mass shootings in the news, yet it is impossible to institute regulations that the attempt to prohibit the mentally ill and criminals from buying guns.  Do really think they can outlaw bitcoin just to keep some kid from buying drugs online?

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.

The US government had a hand in designing Tor as well.   The purpose was to protect and enable political dissidents in countries that we feel morally superior to.

There's nothing about bitcoin that makes it inherently criminal.  If you are a US citizen, by law you have to pay your taxes.   You have to pay your taxes on making money trading gold, silver, bitcoin, or some bullshit stock.  You should know the rules when you leave a W2 job.   Even criminals (the smart ones, at least) know how to at least look like they are playing by the rules ever since Al Capone went down on tax evasion. BTW, you should know if you make an honest mistake in your tax return, the statute of limitations is only 7 years (the amount of time you need to store your records).  There's a longer limitation if you did something criminal (willfully made a fraudulent statement on your tax return) that requires a criminal conviction (proved beyond a reasonable doubt).

[Twilight_Sparkle]

massive bitcoin sale!!!!

Get them while they are cheap. Just make sure to keep some fiat, in order to buy more if it reaches 300!

[wendall]

Now it is recovering slowly. Reached $500 mark again.

[S4VV4S]

God I wish I had $10,000 right now 

[TERA]

A long journey towards reaching a price actually representing the btc economy rather than chinese pumping and gox pumping. An anemic bitstamp orderbook that's going to have to support itself soon.

[Cassius]

This thing is here to stay.  Up, down, side-to-side, this thing is happening.  I am truly fascinated to be a part of a global phenomenon.

Damn straight.

[dragonseer]

I mostly use Bitcoin to buy altcoins at the moment, will buy and hold BTC if/when it dips below $200

[chessnut]

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.

The only reason why somebody should lose money/value is if he/she pays too much for a bitcoin. and why should anybody sell it to them for less than it's worth? or even a fair price? if they pay too much, they have just given their money away, and it's nobodies fault but their own. If they then panic sell when they see the price fall, that is their fault too.

gambling at a casino is much worse, because everyone loses eventually at a casino, and they cant feed themselves either. bitcoiners have made a net profit because they have provided a service of liquidity and capital support to a very innovative technology.

[softron]

This is not a good sign.

[TERA]

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.

Families?

The average bitcoin user is a 20-something upper-middle class white libertarian male with money to lose. There are also these wealthy Chinese guys who pumped money into the market in the fall, and the venture capital firms and investment trusts. I don't think there is anyone here using bitcoin to try to feed their family. Everyone here is in the same game - to try to get as much money as possible, and came into it with the knowledge that their entire capital is at risk at all times. Almost nobody 'invests' in bitcoin just to help the technology - to do that they USE bitcoin, write code, or create services for it.

Your thinking is actually reflecting that of a ponzi scheme. "If you remove money, we lose". If bitcoin price was actually supported by its underlying economy, then people 'removing money' shouldn't be a problem.

[Cassius]

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.

Families?

The average bitcoin user is a 20-something upper-middle class white libertarian male with money to lose. There are also these wealthy Chinese guys who pumped money into the market in the fall, and the venture capital firms and investment trusts. I don't think there is anyone here using bitcoin to try to feed their family. Everyone here is in the same game - to try to get as much money as possible, and came into it with the knowledge that their entire capital is at risk at all times. Almost nobody 'invests' in bitcoin just to help the technology - to do that they USE bitcoin, write code, or create services for it.

Your thinking is actually reflecting that of a ponzi scheme. "If you remove money, we lose". If bitcoin price was actually supported by its underlying economy, then people 'removing money' shouldn't be a problem.

+[insert large number here]
You don't avoid selling shares, thereby depriving your family, so that someone else enjoys an artificially high price, that can't be realised until they sell anyway...

[akujin]

Ok... I'm marking it right now 

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

[alan929]

I just purchase more whenever I think it can't go any lower.  There by decreasing my cost per BTC.  This been my game plan for the past 6 months.  Would NEVER use on $$$ that I can not afford to completely lose.  Thinking I am more interested in the price in a year then the price at any given moment.

[redwhite037]

It's the news coming out of China to shut down all exchanges there with a ban on Banks who deal with Bitcoin.

"news"?

rumors are coming out of china that banks are being ordered to close accounts with bitcoin exchanges with a deadline of april 15th... essentially that would mean bitcoin exchanges in china would go belly up.

If this is true that chinese exchanges have to close then the chinese will be selling bitcoin, which will cause the price to drop until April 15th, and then hit bottom. But after that it should come back right? I will be looking to buy btc between April 10-15.

[cosmofly]

I just purchase more whenever I think it can't go any lower.  There by decreasing my cost per BTC.  This been my game plan for the past 6 months.  Would NEVER use on $$$ that I can not afford to completely lose.  Thinking I am more interested in the price in a year then the price at any given moment.

losing game, buying a dying commodity

[pdawg]

losing game, buying a dying commodity

If you only knew....   GL with that strategy.

[Nerazzura]

even touched $460 right?
my buy order at $468 was gone, somebody sold their BTC hastily

[Bit_Happy]

I just purchase more whenever I think it can't go any lower.  There by decreasing my cost per BTC.  This been my game plan for the past 6 months.  Would NEVER use on $$$ that I can not afford to completely lose.  Thinking I am more interested in the price in a year then the price at any given moment.

losing game, buying a dying commodity

Not at all.
I've made nice, repeated profits in Bear markets.
You only need a couple fast rallies (like the ones BTC just had in the last 24 hours) for great % gains on the most recent trades; Then the older "losing" trades are in much better shape.
Rinse, repeat, profit...

[igorr]

What's happening?

These are normal happenings, we enter the fifth month of constant decline in prices,
Check Trend line from decembar 2013 year !

Trend and price before 1 month:


Trend and price today:


See you again within a month with trend lines and current price.

[Nerazzura]

What's happening?

These are normal happenings, we enter the fifth month of constant decline in prices,
Check Trend line from decembar 2013 year !

Trend and price before 1 month:


Trend and price today:


See you again within a month with trend lines and current price.

seem possible according to your graph
so must i sell at $500 right now and buy again in $300?