300 is broken, to never see again

[pereira4]

101 long term investment textbook situation: resist the big crash or die a poor peasant.
I hope it goes to 1$ so I can have a chance to be a top Bitcoin holder if such once in a lifetime redistribution of wealth opportunity happens. People will drop millions if it goes really low so everytime it gets lower and you don't buy you are gambling with missing the big fat train.

[1715067205]

1715067205

[1715067205]

1715067205

[1715067205]

1715067205

[applesRyummy]

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

6000+BTC net dump on just Bitstamp, we're at $260 now!!!! (past Hr)


Hope you're wrong about it collapsing, surely some miners are cool with hashing for a lose - they are like us expecting rebound?

I'm pretty convinced there will be a significant rebound coming to make the fiat exchangers a quick buck!

The volume on bitfinex is even larger. It has seen 10k+ BTC volume per hour over several hours including one 30 minute period that saw a 11k+ BTC volume. It looks like that some people are being forced to sell their margin positions

[ajareselde]

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

6000+BTC net dump on just Bitstamp, we're at $260 now!!!! (past Hr)


Hope you're wrong about it collapsing, surely some miners are cool with hashing for a lose - they are like us expecting rebound?

I'm pretty convinced there will be a significant rebound coming to make the fiat exchangers a quick buck!

The volume on bitfinex is even larger. It has seen 10k+ BTC volume per hour over several hours including one 30 minute period that saw a 11k+ BTC volume. It looks like that some people are being forced to sell their margin positions

am i the only one here actually happy about that :] ?
i cant wait to rebuy, but not just yet, i think were about to test 250$ soon

[NotLambchop]

101 long term investment textbook situation: resist the big crash or die a poor peasant. getting married to your mistakes.
...

There.

[HeliKopterBen]

You can thank the paycoin groupies that are pushing this 1000s BTC scam that I bet is being dumped into Fiat as we speak.

It's ironic how the guy that represents PayCoin is named Josh, just as it was the case with Butterfly Labs. And guess what, both broke their promises. When I suddenly recognized the weird similarity between GAW and BFL I insta-dumped my speculative paycoins I can afford to lose.

Seeing BTC falling under 300 I insta-dumped a good portion of my hot wallet. However, I'm not holding any fiat, I bought nubits instead. NuBits is an excellent hedge against the collective downtrend of all other cryptos. Thank god I invested heavily into NuShares when they first came out, it has covered all my losses I'm having in BTC, PPC and now XPY. NuBits is like a dream come true.

Nubits is too centralized and relies on third party custodians to manage the supply, not to mention centralized exchange risk.  Bitusd from bitshares is the only legit decentralized solution with on-chain collateral. 

[applesRyummy]

it cannot drop too much that makes mining unprofitable resulting in harder time to solve blocks, and the whole thing collapses.

6000+BTC net dump on just Bitstamp, we're at $260 now!!!! (past Hr)


Hope you're wrong about it collapsing, surely some miners are cool with hashing for a lose - they are like us expecting rebound?

I'm pretty convinced there will be a significant rebound coming to make the fiat exchangers a quick buck!

The volume on bitfinex is even larger. It has seen 10k+ BTC volume per hour over several hours including one 30 minute period that saw a 11k+ BTC volume. It looks like that some people are being forced to sell their margin positions

am i the only one here actually happy about that :] ?
i cant wait to rebuy, but not just yet, i think were about to test 250$ soon

The decision to short bitcoin just under the 300 level was obvious. It was not clear that we would actually break through 300, but if we did then it would be almost certain that it would go significantly farther down. I would expect to see a few more days of heavy downward pressure on the price until it starts to rebound.

I am still pondering when I should hope to cover my short position and buy bitcoin to withdraw to my own wallet

[g35fan]

...and it will rebound - just like back in the beginning of October and the drop to 275. A few days later back to $340 range then over $400 2 weeks after that.

[smoothie]

We broke 300 even sooner than expected, this ship is sinking faster than you will imagine.
My experience from long time successful trading is to get out as soon as you can.

oh really? Never to see 300 again?

Quoted for posterity. 

[RomertL]

^
Lol, I'm afraid your pinup girl just ain't into you, and certainly wouldn't be seen with you in public

"Qestion:
What do you think of the libertarian movement?

Ayn Rand:
All kinds of people today call themselves “libertarians,” especially something calling itself the New Right, which consists of hippies who are anarchists instead of leftist collectivists; but anarchists are collectivists. Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism. That’s worse than anything the New Left has proposed. It’s a mockery of philosophy and ideology. They sling slogans and try to ride on two bandwagons. They want to be hippies, but don’t want to preach collectivism because those jobs are already taken. But anarchism is a logical outgrowth of the anti-intellectual side of collectivism. I could deal with a Marxist with a greater chance of reaching some kind of understanding, and with much greater respect. Anarchists are the scum of the intellectual world of the Left, which has given them up. So the Right picks up another leftist discard. That’s the libertarian movement."--Ayn Rand Answers: The Best of Her Q&A, ed. Robert Mayhew

To be honest, I'm quite new to Ayn Rand, I'm just now finishing Atlas Shrugged and haven't red anything else yet. But I find myself agreeing to nearly 100% of the message in that book, and lot's of my favorite anarcho-capitalists like Jeff Berwick and Stefan Molyneux like her a lot. I've also heard though, that anarcho-capitalism and objectivism isn't compatible although I haven't explored why yet. What's your take on that, what's the fundamental difference? "Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism." Well, who says there can't be laws in an anarchistic system? Anarchism means "no rulers" which is not the same as no laws. Laws can be privatized, there's whole books written about that. More interestingly, contracts made in the blockchain can be created so they can't be broken. They can be made so if a certain criteria is fullfilled, btc automatically moves from one wallet to another, making law redundant in many cases! The law is in the code and enforces itself! When Ayn Rand was still around, there was no way anybody could have predicted such a revolutionary technology. Maybe she would change her stance if she were alive today.

Are you reading what you are writing?  Laws are enforced by the state.  You can have contracts but it's useless unless it can be enforced.  Private judicial system?  Yeah right.  Good luck trying to sue a mega corporation who fucked you over

You don't get it, do you? This is why btc is so cheap, not even people on forums like this understand the true potential. OK, I'll give you an example: person A wants to sell his house to B. They agree upon a price and a smart contract is formed. B transfers the price in btc to a certain wallet where it will be locked in until one of two things can happen: 1: A transfer the ownership of his house to B in the Blockchain which AUTOMATICALLY activates a transfer of the btc from the wallet to A:s personal wallet. OR A fail to transfer the ownership in one week which makes the btc bounce back to B: personal wallet.

Another example: Hey company A, I can implement a system that will increase sales with 10% for February. It costs x btc. A smart contract is formed that monitors all the wallets that A uses for sales. If its up more than 10% from previous year, btc is automatically transfered to B for their service. This is technology that already exists, and those contracts can be immensely more conplex. Do you see now how in a btc world, it's not optional to follow contract, the contracts enforces themselves! Would Ayn Rand have had a different attitude towards anarcho-capitalism with access to a tech like that? We will never know.

[Nagle]

People are overreacting to the drop below $300 in the last 24 hours. There's been about ±$50 noise in the price of Bitcoin for months.

However, they've been under-reacting to the year-long slide from $1100 to $300. There's been a huge amount of denial about that.

[twiifm]

^
Lol, I'm afraid your pinup girl just ain't into you, and certainly wouldn't be seen with you in public

"Qestion:
What do you think of the libertarian movement?

Ayn Rand:
All kinds of people today call themselves “libertarians,” especially something calling itself the New Right, which consists of hippies who are anarchists instead of leftist collectivists; but anarchists are collectivists. Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism. That’s worse than anything the New Left has proposed. It’s a mockery of philosophy and ideology. They sling slogans and try to ride on two bandwagons. They want to be hippies, but don’t want to preach collectivism because those jobs are already taken. But anarchism is a logical outgrowth of the anti-intellectual side of collectivism. I could deal with a Marxist with a greater chance of reaching some kind of understanding, and with much greater respect. Anarchists are the scum of the intellectual world of the Left, which has given them up. So the Right picks up another leftist discard. That’s the libertarian movement."--Ayn Rand Answers: The Best of Her Q&A, ed. Robert Mayhew

To be honest, I'm quite new to Ayn Rand, I'm just now finishing Atlas Shrugged and haven't red anything else yet. But I find myself agreeing to nearly 100% of the message in that book, and lot's of my favorite anarcho-capitalists like Jeff Berwick and Stefan Molyneux like her a lot. I've also heard though, that anarcho-capitalism and objectivism isn't compatible although I haven't explored why yet. What's your take on that, what's the fundamental difference? "Capitalism is the one system that requires absolute objective law, yet libertarians combine capitalism and anarchism." Well, who says there can't be laws in an anarchistic system? Anarchism means "no rulers" which is not the same as no laws. Laws can be privatized, there's whole books written about that. More interestingly, contracts made in the blockchain can be created so they can't be broken. They can be made so if a certain criteria is fullfilled, btc automatically moves from one wallet to another, making law redundant in many cases! The law is in the code and enforces itself! When Ayn Rand was still around, there was no way anybody could have predicted such a revolutionary technology. Maybe she would change her stance if she were alive today.

Are you reading what you are writing?  Laws are enforced by the state.  You can have contracts but it's useless unless it can be enforced.  Private judicial system?  Yeah right.  Good luck trying to sue a mega corporation who fucked you over

You don't get it, do you? This is why btc is so cheap, not even people on forums like this understand the true potential. OK, I'll give you an example: person A wants to sell his house to B. They agree upon a price and a smart contract is formed. B transfers the price in btc to a certain wallet where it will be locked in until one of two things can happen: 1: A transfer the ownership of his house to B in the Blockchain which AUTOMATICALLY activates a transfer of the btc from the wallet to A:s personal wallet. OR A fail to transfer the ownership in one week which makes the btc bounce back to B: personal wallet.

Another example: Hey company A, I can implement a system that will increase sales with 10% for February. It costs x btc. A smart contract is formed that monitors all the wallets that A uses for sales. If its up more than 10% from previous year, btc is automatically transfered to B for their service. This is technology that already exists, and those contracts can be immensely more conplex. Do you see now how in a btc world, it's not optional to follow contract, the contracts enforces themselves! Would Ayn Rand have had a different attitude towards anarcho-capitalism with access to a tech like that? We will never know.

I take it you've never had a mortgage or signed any contracts in your life

[mmortal03]

It went above 300 again today, so the OP was wrong.

[smoothie]

We broke 300 even sooner than expected, this ship is sinking faster than you will imagine.
My experience from long time successful trading is to get out as soon as you can.

oh really? Never to see 300 again?

Quoted for posterity.  

A whole 5 days = forever lol

OP was so wrong hahaha

"My experience from long time successful trading..."

Yes we see your "skillz" there lol

[karolina]

Wow, OP was so wrong lol. Clown....

[traderwin]

300 will be back within 72 hours from now.

Great prediction.

[seoincorporation]

Powerfull $300!!

But i want it back to $600, that was a good price for me... Hold is the option now, only time will fix it.

[chesthing]

OP, how does it feel to be proven wrong within 4 days? you fuckin' chimp.
I just wish I had picked up more in the $260s.

[Blazin604]

Where are we headed from here?

[smoothie]

Where are we headed from here?

Forward 

[nauane]

Powerfull $300!!

But i want it back to $600, that was a good price for me... Hold is the option now, only time will fix it.

We will get there. We will be patient... $600 or more