Now bitcoin $470

[Nobitcoin]

Since this time round it peaked at $520. How long will it drop now?

[Searing]

Since this time round it peaked at $520. How long will it drop now?

depends on how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange


people that are already into bitcoin ...prob not a big deal they will use a future work around

people NEW to bitcoin...er not so sure...myself if I was new to bitcoin this year from the press i've heard i'd run far far away....


so don't know...do people 'get' bitcoin...or are the 'masses' clueless and will kill the idea thru non-action

we will be the first to know! (heh)

Searing

[Initscri]

Since this time round it peaked at $520. How long will it drop now?

Quick Answer... Nobody knows.

Anyone can speculate.

[Soros Shorts]

depends on how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange

I think you missed a few words. It should read:

"depends on how important the non-chinese bitcoin speculators imagine about how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange"

[keithers]

It will rise again, just not as fast as nov/dec

[gagalady]

Since this time round it peaked at $520. How long will it drop now?

depends on how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange


people that are already into bitcoin ...prob not a big deal they will use a future work around

people NEW to bitcoin...er not so sure...myself if I was new to bitcoin this year from the press i've heard i'd run far far away....


so don't know...do people 'get' bitcoin...or are the 'masses' clueless and will kill the idea thru non-action

we will be the first to know! (heh)

Searing

People who are new to bitcoin will follow the mass or more intelligent people will gather all needed information about bitcoin their selfs and will do decisions on their own.

[gagalady]

It will rise again, just not as fast as nov/dec

Yes, i'm almost sure this is not 2-3 days question. We will see bitcoin situation in atleast 2 weeks , there still might be bad hits for the price but it recovers.

[Beliathon]

People who are new to bitcoin will follow the mass or more intelligent people will gather all needed information about bitcoin their selfs and will do decisions on their own.

That's correct!

Yes, i'm almost sure this is not 2-3 days question. We will see bitcoin situation in atleast 2 weeks

2-3 years before we will see "the situation" for what it really is. (hint: santa = fiat)

In all seriousness though, here's what's really going down.

P.S.
SPOILER ALERT

[bryant.coleman]

Since this time round it peaked at $520. How long will it drop now?

Until the Mt Gox situation gets clearer. A lot of Bitcoins (200,000) at stake. Any public or private auction can destroy the exchange rates. I am also waiting for the Japanese court decision.

[grifferz]

Until the Mt Gox situation gets clearer. A lot of Bitcoins (200,000) at stake. Any public or private auction can destroy the exchange rates. I am also waiting for the Japanese court decision.

Those coins are already in circulation (they are under the control of someone), so I don't see what effect any decision by the Japanese court could have?

Unless you are actually speculating that the Japanese court could order those 200kBTC seized and auctioned off and whoever holds them now would actually comply with that? Because that line of speculation seems quite fantastical to me. In fact it seems like three fantastical outcomes in series, so fantastical cubed.

[Beliathon]

Since this time round it peaked at $520. How long will it drop now?

Until the Mt Gox situation gets clearer. A lot of Bitcoins (200,000) at stake. Any public or private auction can destroy the exchange rates. I am also waiting for the Japanese court decision.

The exchange rate damage from Mt. Gox has already been done, and then amplified further by a suspiciously well-coordinated newsmedia blitz.

Bitcoin still stands.

[bryant.coleman]

Those coins are already in circulation (they are under the control of someone), so I don't see what effect any decision by the Japanese court could have?

I was not talking about the stolen Gox coins. I was referring about the remaining coins within Mt Gox. They will soon be seized by the Japanese authorities and then auctioned.

[grifferz]

Those coins are already in circulation (they are under the control of someone), so I don't see what effect any decision by the Japanese court could have?

I was not talking about the stolen Gox coins. I was referring about the remaining coins within Mt Gox.

So was I. Someone already has access to them hence they are still in circulation. There isn't even any indication that Karpeles has been told not to move those 200kBTC by the administrator. Nothing at all to show that they have any interest in the Bitcoin assets of MtGox at all.

They will soon be seized by the Japanese authorities and then auctioned.

That sounds highly unlikely to me.

Would you like to have a small wager on it not happening?

Let's say 0.1BTC says that the 200k MtGox bitcoins are not seized and auctioned by the Japanese authorities any time in 2014. To be verified by a transaction on the blockchain showing at least 200kBTC being paid to somewhere, and a corresponding public statement from the Japanese authorities describing how the auction will take place then that auction being publicly shown to have taken place? Payable on Jan 1st 2015?

[cosmofly]

They will sell the coins slowly not one shot

[Searing]

depends on how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange

I think you missed a few words. It should read:

"depends on how important the non-chinese bitcoin speculators imagine about how important the chinese bitcoin enthusiasts  feel about not being able to use banks to xfer fiat to a bitcoin exhchange"

yeah that way thingy you said above.....(i be sooooo articulate NOT!)

yeah the above pretty much covers it

Searing

[chessnut]

People who are new to bitcoin will follow the mass or more intelligent people will gather all needed information about bitcoin their selfs and will do decisions on their own.

That's correct!

Yes, i'm almost sure this is not 2-3 days question. We will see bitcoin situation in atleast 2 weeks

2-3 years before we will see "the situation" for what it really is. (hint: santa = fiat)

In all seriousness though, here's what's really going down.

P.S.
SPOILER ALERT

Mega +1

[bryant.coleman]

So was I. Someone already has access to them hence they are still in circulation. There isn't even any indication that Karpeles has been told not to move those 200kBTC by the administrator. Nothing at all to show that they have any interest in the Bitcoin assets of MtGox at all.

I am a little bit confused. The statement was that they recovered some BTC200,000 from an offline wallet. At that time, Mt Gox was under a lock down. So no one could have moved the coins. At least let us hope so.

[jamesc760]

Absolutely right ^^^^^. They DID find 200K coins in an OLD wallet they forgot about. Makes you wonder how many other wallets they forgot. Simple fact is, they (MTGOX) never lost coins through hackers, only by insider thieves who've already sold most of the coins.THAT was the reason for finally going belly-up, the milk train had run out of milk.

[bitcoinsrus]

Absolutely right ^^^^^. They DID find 200K coins in an OLD wallet they forgot about. Makes you wonder how many other wallets they forgot. Simple fact is, they (MTGOX) never lost coins through hackers, only by insider thieves who've already sold most of the coins.THAT was the reason for finally going belly-up, the milk train had run out of milk.

[bryant.coleman]

Simple fact is, they (MTGOX) never lost coins through hackers, only by insider thieves who've already sold most of the coins.THAT was the reason for finally going belly-up, the milk train had run out of milk.

Something does not sounds right. How can someone steal 850,000 BTC, without anyone noticing anything? It would have taken weeks, if not months to steal all the bitcoins from the hundreds of wallets.