Bitcoin crash/panic selling

Originally posted by winofiend

Originally posted by Chrisfishenstein
reply to post by winofiend

 

No idea? I would love to hear about how I have no idea.....Please Mr. Intelligent, enlighten me.......(if you dare)

Tell me how I'm a sucker?

Then we can play your silly games.

Oh no no no.....You called me out! You go ahead and tell me why I have no idea.......Or were you just saying that? I doubt if you know anything intelligent about Bitcoin, but please feel free to enlighten me at any point.....

You can read back through all of these Bitcoin threads, see my stance.....I warned people this would happen, I told people to stay away.....

But I am all ears, when you call someone out you better be able to back it up.....Since you did that to me, I would like to play "my silly game" .....

just listening to AJ
on his show Mike Adams predicted this fall the other day
AJ predicted that it would bounce back

there is apparently a bit coin bank holiday ( no trading) for twelve hours

merchants don't accept this currency
so its all a pump and dump cult

apparently some guy named "Bitcoin billionaire" sold off ( probably took profit)

Originally posted by Danbones
merchants don't accept this currency

They do. You just have to know where to shop.

Rev

I was lucky enough to sell before all this happened, but even those who bought at the beginning of the year are still up over 1000%. In fact, even those who bought before April are still up significantly. It wasn't a "crash" so much as it was a market correction.

Nothing about the Bitcoin protocol itself has been exploited. It's just the exchange that is unreliable. As it is right now, the is a race to create better, more reliable exchanges.

www.cnbc.com...

The rush to build a more reliable exchange for the virtual currency bitcoin is under way after another price crash on Wednesday disgruntled customers who directed their anger against the alternative currency's major exchange.

Originally posted by butcherguy
reply to post by camaro68ss

 

Beanie Babies

Hey, my ex-wife has a Beanie Baby (RARE ONE) that still has the tags on it that she paid around $20.00 for a long time ago.

Man, that thing is worth like $15.00 today.

Hate to bust your chops. My grandmother had an antiques and collectables store, and after it closed she kept much of the stuff from the shop. We moved her into a new house in october, she had a beanie baby collection.

We spent hours going through them, searching online, and the highest legitimate price we could find for a beanie baby was like 5 bucks. There were Ebay sales that had them for more, but they had not received any attention.

They're worth more as fire wood my friend.

reply to post by SilentKoala

I was lucky enough to sell before all this happened, but even those who bought at the beginning of the year are still up over 1000%

1000%? are you sure about that?

reply to post by Hijinx

They're worth more as fire wood my friend.

You aren't busting my chops....
My point was that a very rare beanie... in great condition, depreciated from the original value.... not a good investment!

Where exactly can you use bitcoins for products? I have yet to see shops that offer goods for bitcoins. All I get is "You have to know where to look." And, to be honest, who in their right minds would take virtual currency for a good or service that they provide?

Originally posted by dizzie56
Where exactly can you use bitcoins for products? I have yet to see shops that offer goods for bitcoins. All I get is "You have to know where to look." And, to be honest, who in their right minds would take virtual currency for a good or service that they provide?

YOU CAN'T!!

They are illegal......You are not allowed to rival the USD (if you live in the US)......Anything that rivals the dollar is illegal and punishable by jailtime.....Felony charges also.....

They slap all kinds of charges to using a fake currency to rival the dollar.....Read about some of those cases....There was a guy in N.C. that created silver eagles, his own, and it didn't work too well for him either! There are cases of people trying things like this before, but it will never work.....Just a scam they will not back up or stand tough when the government cracks down....Then you lose your money and they keep it....Simple scam

If it does crash, it might be a sneaky wise one to grab acouple when they are cheap, it might make a come back.

Originally posted by Acidtastic
Not even the first crash. it's been going up and down like a prozzies knickers like this for ages. And it will continue to do so. It'll fly back up within a month. If you have BC, you haven't lost anything, just hold on. This is seriously volitile investments, but fear not, it'll be back up (and down, and up, and down) soon enough.

Honestly I dont think it will..........

I think the bankers are now even more aware of it then they were, and the people who really make the currencies world wide do what they do, will make sure bitcoin is not a threat to them......

Sorry thats just how I see it..........people with lots of power through out history dont like things they cant control.....

reply to post by Acidtastic

It is the first leg down and will likely end up at 70 btc +/- 20 before this correction is over....then we'll see.

Calm down peeps, it is not crashing, at least not yet. In the time span of that decrease in btc price, it went back up to 203 and back down to 124. It hasn't dipped below 100 for a while and even got close to 106.

A crash would mean going back all the way down to below 30 or 50 and staying there for a while. BTC is stronger than that, it doesn't mean the exchange can't be manipulated in certain ways, NOT by screwing with the code but by hacking the exchange and making it appear like there is a major sell-off when there isn't.

The most important thing you can do as an investor of bitcoins is to fully understand how it works and have faith that it will work regardless of external manipulation (how banks manipulate gold and silver and suppress its real value). When an entity attempts to manipulate bitcoins again, then you will be confident enough in the digital currency to HOLD instead of panic dump.

reply to post by Chrisfishenstein

You can have privately minted silver bullion coins...but they went after the guy you refer to because he had the audacity to call them "Liberty Dollars". I guess the US Govt believes it has a monopoly on the monetary nomenclature "dollar" (but dont tell those in Canada or Australia or New Zealand or Hong Kong).

reply to post by eLPresidente

It is not over yet....the crash in the stock market in 1987 (Oct 19) took place 55 days after the August high.

Bitcoin is only as good as the sites that accept it, I checked out the list and wouldn't use any of those services anytime soon, so I would consider bitcoin to be a coupon for a service I don't want. Until amazon.com jumps on the bitcoin bandwagon I can't see ever wanting to invest in it.

I think bitcoins are a potentially exciting investment, but like anything else, you've got to be careful trading it as there'll always be peaks and troughs. If companies like Amazon and Facebook start using them, the value could explode.

Large Investments in Bitcoins

Originally posted by malchir
Bitcoin is only as good as the sites that accept it, I checked out the list and wouldn't use any of those services anytime soon, so I would consider bitcoin to be a coupon for a service I don't want. Until amazon.com jumps on the bitcoin bandwagon I can't see ever wanting to invest in it.

That isn't the point because that would make you a bandwagoner/mainstream user.

The point of investment is to understand what bitcoin actually is and how it operates and investing in it BEFORE major retail services begin to accept it.

Otherwise you'll just be another $400-$600/share google/apple investor.

Originally posted by eLPresidente

Originally posted by malchir
Bitcoin is only as good as the sites that accept it, I checked out the list and wouldn't use any of those services anytime soon, so I would consider bitcoin to be a coupon for a service I don't want. Until amazon.com jumps on the bitcoin bandwagon I can't see ever wanting to invest in it.

That isn't the point because that would make you a bandwagoner/mainstream user.

The point of investment is to understand what bitcoin actually is and how it operates and investing in it BEFORE major retail services begin to accept it.

Otherwise you'll just be another $400-$600/share google/apple investor.

which is not gonna matter a damn bit because again.......world currencies dont like to compete with "virtual" money of any kind.........

If any of you guys actually think this is gonna hold out after all the publicity its been getting all the sudden....

Then i really feel sorry for your bank accounts...........

That isn't the point because that would make you a bandwagoner/mainstream user.

There is no point in holding a currency that cannot be used..........

So to invest in something that has no practical use to BUY anything is a bit pointless..........

reply to post by Acidtastic


I just listened to Chris High on Bitcoins last night ....... and fell asleep. Now I wished I hadn't and need to listen again.

It seems the EU and the US dollar are the Olympics and all other currencies are the Paralympics.

It was only last month that the dollar was going to crash and now the DOW is making its 14th highest record today.