Bitcoin crashes below $300 due to monetary penalties implemented by the Russian

[tilray]

Investors of the often positively speculated digital currency Bitcoin now find themselves uncomfortable, as the price dipped just slightly below the $300 USD mark.

More @ http://btcvice.com/bitcoin-continues-fall-due-monetary-penalties-implemented-russian-government/

[Envrin]

Ummm, little late for that news.  It's back up to $340 at the moment.

[ChuckBuck]

Everytime I want to buy BTC at a low price it jumps right back up!   

Can never time this dam volatile currency...

[maurya78]

Bollocks to the Ivans, thought it was the 26k sell order on multiple exchanges that did the trick. Am I mistaken?

[1anonymous]

nice bounce back almost 350 now

right now it looks like strong support at 300 IMO

fundamentals we use show 400-500 real world value based on user base

we think there will be a high growth soon in vice users, more drug use, major casino use and even adult trade use

the vice growth is the fuel that should make btc user base grow exponentially

retailers offering btc means nothing, it's not a reason for joe blow consumer to acquire btc

vice use where the vice portal demands btc is how btc needs to grow its user base in our opinion

we've all see that large retailers only put downward pressure on btc values

so as a digital currency with wide scale use from viral vice portals, is the fuel the user base of btc needs to justify the average consumer trying to acquire btc

right now retailers just dump the minor btc sales they make into fiat, that puts downward pressure on it

now if 100 silk roads popped up, a few major adult portals take it, and a rash of btc casinos with high trust reps pop up

all that vice can make btc explode in its user base

then the users may use more and more btc for legit retail buys

right now a retailer saying oh we take btc and 5 other mainstream payment options gives a consumer with no btc, no reason to acquire btc

now you put that same consumer who went to a hot viral btc casino, or another silk road type of portal and even an adult cam or whatever site, that user had to acquire btc to feed their vice habits, so they see btc accepted here, they may spend it

so that's what's 'wrong' right now

[LiteCoinGuy]

Everytime I want to buy BTC at a low price it jumps right back up!   

Can never time this dam volatile currency...

yeah, thats true. honey badger is a tough motherfucker.

[juju]

Everytime I want to buy BTC at a low price it jumps right back up!   

Can never time this dam volatile currency...

yeah, thats true. honey badger is a tough motherfucker.

Slippery albeit coated in honey, patience

[spazzdla]

Everytime I want to buy BTC at a low price it jumps right back up!   

Can never time this dam volatile currency...

I've decided to buy on pay days and only pay days..  It does suck to watch the price dip to $270 then jump to $340 just before pay day.. o well.

My point of view is in 10 years $340 for a BTC will be like trying to get an OZ of gold for a dollar.

[BADecker]

Everything goes in waves. Look at the ocean. It's just that waves in the market when the population and economy are as big as ours, don't move as fast as the waves in the ocean.

The lower the crash of Bitcoin, the higher it will rise in the next wave. Bitcoin will never crash as long as the Internet survives.

The higher the value of fiat in this wave, the lower it will go in the next wave. Fiat will crash irretrievably.

Fiat is fake... debt based currency. Nobody wants to be in debt. Only those who want to control the world want everyone else to be in debt... to them. Fiat will crash.

Bitcoin is a little like fiat. But, Bitcoin represents the free market. The free market will last as long as humanity survives. Viva Bitcoin!

This is just another wave. Maybe when Bitcoin gets to the top of the next one, it will be $10,000 per Bitcoin. Maybe then fiat will crash.

[1Referee]

I managed to grab some Bitcoins below $300 yesterday, so I'm fine.

Will hold it, there's no need to sell for such low price.

[ANTIcentralized]

Investors of the often positively speculated digital currency Bitcoin now find themselves uncomfortable, as the price dipped just slightly below the $300 USD mark.

More @ http://btcvice.com/bitcoin-continues-fall-due-monetary-penalties-implemented-russian-government/

The article is speculation and is incorrect. The price fell so much because of the bear whale wall of 30k that was put on bitstamp yesterday. The sell wall was eaten up and the price did not decline much after the wall was put up

[negafen]

I managed to grab some Bitcoins below $300 yesterday, so I'm fine.

Will hold it, there's no need to sell for such low price.

Risk is still rather high holding bitcoin right now.

[PYaEe]

As russian, i can say these penalties are laughable, and will not reach their aim. And this is not a law yet, just an legislation proposition. But, sadly, every shitty prohibitive idea becomes the law here nowadays.