Reasons of Price Drop

[newIndia]

I've been fed up of seeing reasons that may cause price drop. So I'm trying to list them out. Please add your reason...

1. China banned Bitcoin (worked for 3-4 time)

2. Ghash.io is nearing 51% (worked twice)

3. Mt. Gox fall is fall of Bitcoin (upcoming ones => Bitstamp is insolvent & BTC-e is run by anonymous people)

I'll try to update the list occasionally...

Latest Update: Point 3 added

[1715678399]

1715678399

[blatchcorn]

I've been fed up of seeing reasons that may cause price drop. So I'm trying to list them out. Please add your reason...

1. China banned Bitcoin (worked for 3-4 time)

2. Ghash.io is nearing 51% (worked twice)

I'll try to update the list occasionally...

Not sure that will cheer you up

[celestio]

MtGox bankruptcy is definitely one of the major reasons for the recent price drop.

[arruah]

Butterfly labs reveals the Monarch.

[Parazyd]

About ghash.io:

The news prompted Ghash.io to issue a statement on the matter at the time, in which the pool said:

“GHash.IO will take all necessary precautions to prevent reaching 51% of all hashing power, in order to maintain stability of the bitcoin network.”

They added that, “[their] plans are to expand the bitcoin community as well as utilise the hashing power to develop a greater bitcoin economic structure.”

“If something happened to Bitcoin as a whole it could risk our investments in physical hardware, damage to those who love Bitcoin and we see no benefit from having [a] 51% stake in mining.”

[bryant.coleman]

I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

[RandomPedestrianN9]

I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

And i should totally trust to some mysterious entity on the internet.

[Parazyd]

I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

What if NSA gives an immoral offer?

[Bitcoins101]

I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

And i should totally trust to some mysterious entity on the internet.

I have no problem trusting someone to not purposefully lose money. They're making a fortune - why would they ruin that for a few dollars?

That being said, there is always the risk that control of ghash.io could be compromised, so it definitely is better that they stay below 51%. Miners will make sure of that though and just switch when they near 51%.