bitcoins for cheaps!
 

ok, who here were able to buy at $102? :D

got in at $320s myself :(

from what market?

I slept it over, FUUUUUUUUUUUUUUUUUUUUUUCCCCCCCCCCCCCCCCCCCKKKKKKKK KKKKKKKKK!!!!!!!!!!!!!!!!!!!!!

im trading at btc-e

sold at $600 ... ill buy back again later today. ive put a buy order at $200 this time lol

it would suck sooo bad to be the guy or bot that sold at $100s LOLOLOL

btc-e never got near the numbers you are talking about.

i have buy orders in far above that.

are we looking at the same charts? there were people who got their $200s buy orders filled

it did go very low but not for long and they were buying them up like mad.

yes yes yes.

bitcoin crashing his ass?

$100 lol - this thread needs btc ticker

http://bitcoinity.org/markets/image?span=7d&size=medium

I was considering getting a large amount before people were speculating to actually use as currency, but I'm not kicking myself. I still don't think it's even a remotely good idea to speculate on cryptocurrency. There are a lot of people who made a killing, but like in any other market you've got them patting themselves on the back without having any real perspective on the gamble they took.

All the crazy profits just reflect a crazy volatility that no currency should have. Speculators should not be able to control the value of anything like that, especially actual fucking money.

Just remember that cryptocurrency as a commodity depends on it ultimately being USED as currency. You can time your bets on bubbles shrinking or growing, but you can't control the intrinsic value. If society doesn't switch to using it as money, the bubble bursts.

Now let's be honest. I was going to buy bitcoin to use for things I didn't want traced back to me. Anonymity is the only benefit to using it at all. The fucking cyberpunk libertarian evangelists may create cool wallets and whatever, and you may be able to use it at X restaurant or Y electronic cigarette vaporizer store in Minnesota, but almost all of it was spent on drugs on the silk road. The rest was used to wash money made doing identity theft and things like that. Why else would you use it? You have to pay somebody to change it into real money you can use and it's not insured or remotely secure.

The real reason I say stay out though, is that it's not even remotely the best way to do crime. If I'm one of the people who actually provide the intrinsic value I'm doing (illegal) business with it. Speculators can change the value of bitcoin but the price of heroin doesn't change. If I spend $1,000 on heroin, sell it for $1,500 worth of bitcoin, then the value of the bitcoins drops to $1,000 again I'm out $500. That's money earned working lost, not something I wanted to gamble on. Fuck that, I'm just gonna use greendot. That's anonymous and I can depend on the dollar guaranteeing I can make the reup tomorrow.

End rant lol. Shit makes me nervous.

I'm buying one a week rain or shine. Don't give a shit. In for the win. Bitcoin ain't going away anytime soon. Mining Doge for Bitcoin, such wealth.

So why did the price drop this time around? I noticed the last few days it was dropping.

So neither 100, nor 250, nor anything remotely close to that happened, yet people clay they bought for that.
How come?

Rumors of a flaw in the protocol.
http://www.networkworld.com/news/201...mt-278584.html

I will be honest with you. I don't know alot about how bitcoin works. That is why I never really got into buying any.

i lick pubic toilets...

https://bitcointalk.org/index.php?topic=458386.0

Summary: The possibility to fake/alter a transaction id is know for years and no problem with the official client. Gox modified the original for their use, fucked up and now claim that this is a bug within the Bitcoin protocol.



.

scary charts

http://cdn.theatlantic.com/newsroom/.../fc13be937.png

Mt Gox suspended Bitcoin withdrawals, promised that the suspension would only last over the weekend.

Then Monday came, Mt Gox issues another statement that Bitcoin withdrawals are still suspended and proceed to blame their "issue" on a 2 year old transaction ID issue (Total Bullshit) As lyno has mentioned above.

So what happened on Monday was someone thought they'd be clever by dumping 1000s of Bitcoins on the Market in a low liquidity environment and the dumping ate right through the order book the whole way down to around $100 and the price rebounded very fast.

So yep if you anticipated this move or had a buy order sitting around $100 - $200 those people have made an easy 300% - 600% return in a few hours.

As for anyone who has any money on Mt Gox, it's looking really bad. Cyprus bank run bad...

Ironic really because the very issue that caused the surge in Bitcoins price in the first few months of 2013 is partly responsible for the price declines atm.

There's a flaw in MtGox's wallet system and the way they integrate with the bitcoin blockchain. MtGox stupidly tried to shift the blame to the protocal itself. Dicks!!!

Bitcoin is an invertment in the future and whatever happens on a daily basis doesn't mean shit to me. I ain't selling any Bitcoins yet. I'll hold the ones I've got 'till they hit zero. (or a million) I am convinced they are not going away and will be worth big bucks very soon..

The Glitch That Will Help Kill Bitcoin
As the world's first, and most popular, cryptocurrency, Bitcoin has by now suffered every possible setback a payment project could encounter. It was implicated in a huge drug bust when the Federal Bureau of Investigation took down the Silk Road electronic exchange.
http://www.bloomberg.com/news/2014-0...l-bitcoin.html