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Author Topic: Is it really THAT bad right now?  (Read 2973 times)
Stargazer
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January 16, 2015, 10:01:11 PM
 #21

Bitcoin is certainly not failing. The price just shows we have more sellers than buyers. Mining farms and merchants are dumping them on the market to pay the bills.
It used to function when the price was $5, $10, $50 and so on, why should it "fail" at $200?

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okthen
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January 16, 2015, 11:46:09 PM
 #22

Not really. It feels quite bad, but if you look at the graphs you realize that for the most time bitcoin price is going down. So we should just get used to it and patiently wait for nicer times Smiley
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January 17, 2015, 12:41:24 AM
 #23

Nice, the price is rising again, 205 for 1 now.

Even with the lower prices now, it's still better when a bitcoin was only a few cents.

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January 17, 2015, 03:48:21 AM
 #24

Now a days markets like to move from one extreme to the other.
Look at gold/miners last 2-3 years.... Or Oil last few months.
Equity gets pushed beyond the boundaries most participants believe it is possible and only then it turns around...

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January 17, 2015, 04:52:50 AM
 #25

Now a days markets like to move from one extreme to the other.
Look at gold/miners last 2-3 years.... Or Oil last few months.
Equity gets pushed beyond the boundaries most participants believe it is possible and only then it turns around...

Oh yeah, the oil prices are absolutely monkey farts right now.

Maybe the difficulty of mining will decrease in the future to encourage production of bitcoin (I know the simple algorithm, but its a possibility)

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January 17, 2015, 05:44:36 AM
 #26

Bitcoin price is determined by market forces. The price dropped, simply because there were a lot of sell orders.
If you check https://bitcoinwisdom.com/, you will see a lot of bitcoin was sold on the exchanges at round 7:30 UTC on 14th, causing the price to go down very quickly.

I dont know why these fools are selling their btc at that too much low price. Why dont they wait for next few montha and sell btc at 400 above. Its the time to buy as much as you can. No one determine its price it spaculation it will go higher in just next few months. Lets hope for the best
I wouldn't say this would be a guarantee. It is very well possible that the price will decline further from here until it hits bottom. No one truly knows where it is going to go.

Bitcoin is really not the most stable investment out there so anyone investing should do so for the long haul

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January 17, 2015, 02:22:32 PM
 #27

Bitcoin price is determined by market forces. The price dropped, simply because there were a lot of sell orders.
If you check https://bitcoinwisdom.com/, you will see a lot of bitcoin was sold on the exchanges at round 7:30 UTC on 14th, causing the price to go down very quickly.

I dont know why these fools are selling their btc at that too much low price. Why dont they wait for next few montha and sell btc at 400 above. Its the time to buy as much as you can. No one determine its price it spaculation it will go higher in just next few months. Lets hope for the best
I wouldn't say this would be a guarantee. It is very well possible that the price will decline further from here until it hits bottom. No one truly knows where it is going to go.

Bitcoin is really not the most stable investment out there so anyone investing should do so for the long haul

The fools are the people that can't see the writing on the wall, not the people selling at 200.  Why do you think the price can't dip below 100?  Anything can happen.
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January 17, 2015, 03:13:55 PM
 #28

The fools are the people that can't see the writing on the wall, not the people selling at 200.  Why do you think the price can't dip below 100?  Anything can happen.

It can, but that is what every true bitcoiner and a believer in BTC won't expect to happen... As we all want it stable, and not this liquid... You should have checked how many traders who had millions of Euros sold for Francs would have had such huge loss that no one expected, just due to SNB taking back their decision on continuing CAP of 1.20...

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January 17, 2015, 05:00:33 PM
 #29

not that bad imho, we are still in 3-digit zone, when it will decline to 2 digit, you can start worry about
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January 17, 2015, 05:47:39 PM
 #30

bitcoin is a currency, and like any other it can drop and its happened before. its also risen before. people are panicing because they lose fiat price as the price fluctuates. If it can go from 150 to 200 (now) in a few days we just have to wait and see where it goes
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January 17, 2015, 06:45:12 PM
 #31

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?

No the halvings will bring the price back up heck there is about to be a halving.
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January 17, 2015, 07:03:54 PM
 #32

If you consider holding for a long time, then there is no reason to panic. But to some people who bought in between the $300-$500 price range must be worrying right now. There are no certainties in the market, only changes and volatility. That's why most people here in btt always say: never ever put your life savings into bitcoin. A moment the price is high, and another moment it will collapse. No one knows when will those phenomena happen.

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January 23, 2015, 11:29:44 AM
 #33

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?

I coded Bitcoin such that it would reach a million dollar before 2015. I never coded this price drop, don't know why it's happening.

Probably something I overlooked, I'll get back to work and will let you know ASAP.


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January 23, 2015, 12:14:33 PM
 #34

This is a great time to be adding btc to the portfolio
Historical opportunity to go long cheaply

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January 23, 2015, 12:31:12 PM
 #35

There were much worse crashs in bitcoin price in the past, and bitcoin is still here. And so I don't see why we should be worried.

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January 23, 2015, 02:01:49 PM
 #36

I understand that the price of bitcoin is slowly dropping, but is there real need for panic?

And also, if anyone knows the mechanics of bitcoin, why is it failing?

I coded Bitcoin such that it would reach a million dollar before 2015. I never coded this price drop, don't know why it's happening.

Probably something I overlooked, I'll get back to work and will let you know ASAP.




You've done some pretty lousy coding bro, it
 has been falling like 60% of the time Grin
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January 23, 2015, 02:10:54 PM
 #37

it should go up, im looking to buy more at this low price and then re-sell for higher and with X*(High price - lowprice)

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Rishblitz
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January 24, 2015, 02:43:40 AM
 #38

It does this from time to time it will go back up.
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January 24, 2015, 03:05:55 AM
 #39

Price fluctuations are usual in bitcoin. Trade and make profit.

Rishblitz
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January 24, 2015, 03:14:51 AM
 #40

wait for it to fall more and then buy it up.
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