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Well Bitcoins finally crashed.

#61WyzeGyePosted 2/25/2014 6:43:54 PM
chrono625 posted...


This is not going to last. People bought in with the idea of making a quick buck and getting out. It went from 1,200 to 700 back up and now floating at around 400-500.




It's at 557 right now... again, if you don't know what you're talking about... just don't talk. Simple, no?
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#62MaxCHEATER64Posted 2/25/2014 6:45:22 PM
WyzeGye posted...
chrono625 posted...


This is not going to last. People bought in with the idea of making a quick buck and getting out. It went from 1,200 to 700 back up and now floating at around 400-500.




It's at 557 right now... again, if you don't know what you're talking about... just don't talk. Simple, no?


Last time I checked 557 was still considered "around 500".
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#63chrono625Posted 2/25/2014 6:47:35 PM
WyzeGye posted...
chrono625 posted...


This is not going to last. People bought in with the idea of making a quick buck and getting out. It went from 1,200 to 700 back up and now floating at around 400-500.




It's at 557 right now... again, if you don't know what you're talking about... just don't talk. Simple, no?


I've been following bitcoins for a while now.

I observe the regular market closely. This follows trends that happen all the time, bitcoins are volatile for a reason. There is too much negative press surrounding them and the fact that NYS is trying their damnedest to regulate them is only a small sample of bad things to come.

You are being so defensive it's ridiculous. Any economy major will tell you the bitcoin is a fad that will die out. Just because you invested some money into them doesn't make you know what the hell you are talking about either.

1200 > 500 is a huge drop. It will rise a little bit and then drop again and the gains will never reach what they were. But go ahead, keep your money in them and then see what happens.
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#64WyzeGyePosted 2/25/2014 7:04:29 PM
I haven't invested a cent in bitcoin... I got lucky with some Dogecoin trades (3000 Doge for 11 btc) when it first hit the exchange. And before that I had mined some Litecoin. I'll say maybe i'm out 60 bucks for the electricity I used for mining.

I'm out of mining now, and I'm not trading anymore either.

Any economy major is programmed to tell you that bitcoin will fail... that's their entire curriculum. But of course its going to fail, but not before paving the way for it's successor through things like regulation and all that jazz.

10<500 is a gigantic rise. Nevermind the 1200>500 lol. I'd love to know where you're getting your numbers from because again, it's sitting at around 560 right now, not the 400-500 you claimed. You obviously don't follow it very closely. Especially considering you're only versed in the negative aspects of it.
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#65chrono625Posted 2/25/2014 7:14:08 PM
WyzeGye posted...
I haven't invested a cent in bitcoin... I got lucky with some Dogecoin trades (3000 Doge for 11 btc) when it first hit the exchange. And before that I had mined some Litecoin. I'll say maybe i'm out 60 bucks for the electricity I used for mining.

I'm out of mining now, and I'm not trading anymore either.

Any economy major is programmed to tell you that bitcoin will fail... that's their entire curriculum. But of course its going to fail, but not before paving the way for it's successor through things like regulation and all that jazz.

10<500 is a gigantic rise. Nevermind the 1200>500 lol. I'd love to know where you're getting your numbers from because again, it's sitting at around 560 right now, not the 400-500 you claimed. You obviously don't follow it very closely. Especially considering you're only versed in the negative aspects of it.


It's been sitting at 560 for a little over a week. News of Mt.Gox broke late last night/early this morning.

The disappearance of Gox hurts bitcoin in general because now more people are going to lose faith in it and now you will see various people and agencies scream that it needs to be regulated to prevent these instances happening again. This became a major victory to banks and to government agencies that had a hard on for Bitcoins to begin with.

First you had silkroad, then you had the laundering with the Winklevoss company CEO and now Mt.Gox.

I know you want to say exchanges are terrible and only idiots will use them, but those idiots are the majority and their voice will impact the coming life of Bitcoin.

Just don't come crying when the value inevitably plummets again and everyone says "we told you so." I just find it odd that the only people who think Bitcoin will gain momentum are the ones who are invested into it.
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#66DiviDudePosted 2/25/2014 7:36:02 PM
WyzeGye posted...
Any economy major is programmed to tell you that bitcoin will fail... that's their entire curriculum.


waht
#67WyzeGyePosted 2/25/2014 7:40:54 PM
you obviously have poor reading comprehension, and your grasp on the subject is pretty poor... so this'll be my last post addressing you.

It's been sitting at 560 for a little over a week. News of Mt.Gox broke late last night/early this morning.

What happened to your 400-500 claim? Additionally, the gox thing has been going on for nearly 3 weeks now. But if you follow bitcoin, you already knew that... right?

The disappearance of Gox hurts bitcoin in general because now more people are going to lose faith in it and now you will see various people and agencies scream that it needs to be regulated to prevent these instances happening again. This became a major victory to banks and to government agencies that had a hard on for Bitcoins to begin with.


The disappearance of Gox hurts nothing. It wasn't even the biggest exchange like some would have you believe. That title goes to Bitstamp. And regulation, while counterintuitive to the goals of cryptocurrency is the only way it will succeed in this world.

First you had silkroad, then you had the laundering with the Winklevoss company CEO

Silk Road raised bitcoin awareness, and the winklevoss thing is irrelevant because nobody has been found guilty yet, again just raising awareness of cryptos.

I know you want to say exchanges are terrible and only idiots will use them, but those idiots are the majority and their voice will impact the coming life of Bitcoin.

Again, with the reading comprehension... I never said that exchanges are terrible, I said that it's a bad idea to keep your stash in an exchange wallet. All the echanges tell you this when you sign up. If you lose out in a Gox type incident, it's your own fault, and anybody that is involved with bitcoin will tell you the same thing.

Just don't come crying when the value inevitably plummets again and everyone says "we told you so." I just find it odd that the only people who think Bitcoin will gain momentum are the ones who are invested into it.

Like I said, I haven't invested a penny into bitcoin. If it drops down to 10 bucks a coin again, (which it will never do) I'm still ahead.

You don't know s*** and it shows.
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