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Author Topic: why the bitcoin price is going down ?  (Read 3787 times)
BlindMayorBitcorn
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October 04, 2014, 02:44:48 PM
 #21

Also I think Russia is getting out this week: http://www.coindesk.com/russia-proposes-fines-bitcoin/

a press release was posted elsewhere on bitcointalk that linked to a new release in Russian that allegedly said the central bank of Russia rejected the proposals due to it not being consistent with their objectives.  Either way, they are merely proposals.  And even full out laws banning bitcoin will likely have the same effect as if they attempted to ban bittorrent.



I still think these are just epic miner dumps tbh

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kennyclaw
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October 04, 2014, 02:51:03 PM
 #22

Once there are more possibilities to receive your income in btc and pay utility bills with btc you will see some changes in price
rebuilder
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October 04, 2014, 03:03:23 PM
 #23

I'll wait for below 100 threshold before considering placing the buy order  Grin

Really?

The lowe price for bitcoin will be 300.

lower than that... miners will turn off their miners.

imho

Why would miners shutting down keep the price from falling?

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RockHound
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October 04, 2014, 03:11:12 PM
 #24

It's not the news, it's the current protocol:

http://www.youtube.com/watch?v=_-TLA3j-ic4

Upgrade to come???
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October 04, 2014, 03:16:25 PM
 #25

Also I think Russia is getting out this week: http://www.coindesk.com/russia-proposes-fines-bitcoin/

a press release was posted elsewhere on bitcointalk that linked to a new release in Russian that allegedly said the central bank of Russia rejected the proposals due to it not being consistent with their objectives.  Either way, they are merely proposals.  And even full out laws banning bitcoin will likely have the same effect as if they attempted to ban bittorrent.



their claim for banning bitcoin is ridiculous also, they ban bitcoin for reasons for which their currency could be bannable also

it sound retarded
llanillo
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October 04, 2014, 03:19:23 PM
 #26

Everyone is selling right now because they think the price go lower.. (maybe will happen) so they wont lose a lot of money

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kokojie
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October 04, 2014, 03:20:30 PM
 #27

It's the PoW mining expense. If without new inflow of capital, Bitcoin will perpetually go lower, due to the PoW mining expense. As we have seen in the past year.

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martinnew
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October 04, 2014, 03:38:29 PM
 #28

Everyone is selling right now because they think the price go lower.. (maybe will happen) so they wont lose a lot of money

That could also means a lot are buying now because of its lower price.
labsbitforum
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October 04, 2014, 04:20:36 PM
 #29

1. Still coming off a bubble.
2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly
3. The mining community is done.  They cant compete with the big guys.  Centralization
4. 3600 bitcoins are created each day.  @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340.

I don't think it will collapse completely.  I think it will stabilize around $100-$200.  Barely profitable to keep the big boys mining.  There has been a lot of adoption.  I think it's likely bitcoin will get replaced by something like Ethereum or another new entrant in the next 2-5 years.
Cluster2k
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October 04, 2014, 04:23:28 PM
 #30

localbitcoins is still above $400 while sheeple are panicing while looking at the crappy btc-e/bitstamp small valuations

wake up sheep theres less actual bank movements on exchanges compared to localbitcoins

stop valuing bitcoins 13 million coins based on movements of just 200 coins!!!!

exchanges are just bot movements on a mysql database..

Calling people "sheep" who may disagree with your opinion is unlikely to get them on side.  You at least resisted the temptation to use "sheeple".  Oh wait, you didn't  Roll Eyes

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October 04, 2014, 04:34:40 PM
 #31

Ironically I pre-ordered 'the rise and rise of Bitcoin' Still waiting 6 days for that to come through.... Don't think watching that will have the same effect it would've late last year  Undecided

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mmortal03
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October 04, 2014, 05:58:19 PM
 #32

I'll wait for below 100 threshold before considering placing the buy order  Grin

Really?

The lowe price for bitcoin will be 300.

lower than that... miners will turn off their miners.

imho

Why would miners shutting down keep the price from falling?

Right, they'd have to also not sell their bitcoins, which they might if they aren't racking up any more electricity bills. Even after that, the market will still mine the same amount of bitcoins. So, it just depends on the psychology of the individuals still mining and what they are willing to sell for. Is there a different market psychology surrounding one large scale miner who turns off his equipment, versus the next guy who gets those coins because he didn't turn his rigs off?
mmortal03
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October 04, 2014, 06:05:36 PM
 #33

It's not the news, it's the current protocol:

http://www.youtube.com/watch?v=_-TLA3j-ic4

Upgrade to come???

They aren't going to "upgrade" to POS or DPOS. Invest your money into one of the alts that uses it if you think that's the answer.
blitzbad
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October 04, 2014, 06:20:45 PM
 #34

no one wants / needs bitcoin, you have been lied by bulltrolls and permabulls

drop your false hope and cut losses now! or you will lose everything during the final capitulation!
Buffer Overflow
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October 04, 2014, 06:42:15 PM
 #35

no one wants / needs bitcoin, you have been lied by bulltrolls and permabulls

drop your false hope and cut losses now! or you will lose everything during the final capitulation!
Why create a new account to tell us this urgent news? Why not use your main one?

Amph
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October 04, 2014, 06:42:49 PM
 #36

no one wants / needs bitcoin, you have been lied by bulltrolls and permabulls

drop your false hope and cut losses now! or you will lose everything during the final capitulation!

another falling aka lmao

stop this fudding already no one care
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October 04, 2014, 06:51:20 PM
 #37

Merchant Acceptance.. that turned out to be the initial reason for this fall.
And recent fall maybe the Russian ban might had some impact on it.

PapaEmeritus
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October 04, 2014, 06:51:38 PM
 #38

Because BTC is only good for buying drugs at the moment.
Average Joe/Joesephine is not interested in private keys, sending cash to shady Slovenian/Bulgarian online exchanges, using weird BTC-ATM´s, etc.

BTC is for the techy druggie until mosaic-of-BTC comes around.
BlindMayorBitcorn
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October 04, 2014, 06:53:57 PM
 #39

Because BTC is only good for buying drugs at the moment.
Average Joe/Joesephine is not interested in private keys, sending cash to shady Slovenian/Bulgarian online exchanges, using weird BTC-ATM´s, etc.

BTC is for the techy druggie until mosaic-of-BTC comes around.


Bitcoin: for the techy druggie in all of us

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
PapaEmeritus
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BTC = Cult ponzi


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October 04, 2014, 06:59:33 PM
 #40

Because BTC is only good for buying drugs at the moment.
Average Joe/Joesephine is not interested in private keys, sending cash to shady Slovenian/Bulgarian online exchanges, using weird BTC-ATM´s, etc.

BTC is for the techy druggie until mosaic-of-BTC comes around.


Bitcoin: for the techy druggie in all of us

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