Cyber Monday off with a BANG!

Discussion in 'Digital Currencies' started by VRS, Dec 1, 2013.

  1. VRS

    VRS Well-Known Member Silver Stacker

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    After reaching US$1100+ over the weekend Sunday & Monday saw successive falls across the board leaving Bitcoin somewhere around US$900(MtGox)-US$700(btc-e) and Litecoin back down into the upper US$20's after reaching US$48 at the end of last week...

    Servers, exchanges, all of it reflected in the trollboxes, bb's and forums - usual stuff - 'I have to pay my college fees and rent! WTF!', 'Sell everything now before US$300!', 'btc to 1500 next week, and all you panicking noobs are gonna regret it!', 'my wife is gonna KILL me!' to 'holy shit, just got on today. thank god i switched to usd yesterday', 'Lost $7500 wtf!!! is this wtf!!!', 'Utterly idiotic to give away your coins. The next will rise BTC back to $950' - better entertainment than WWF lol! ;)

    ps - However, all things considered... http://www.ibtimes.co.uk/articles/5...-value-inflation-boom-bust-bubble-economy.htm (Nov 8th)

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    VRS, Dec 1, 2013
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  2. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Watching it free fall this morning - wishing I had had time to set up some BTC shorts.
    Bugger
     
    wrcmad, Dec 1, 2013
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  3. VRS

    VRS Well-Known Member Silver Stacker

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    Well if I wasn't older I know what colour my shorts might be after this weekend - a lot of these kids seem to be under 20 - they don't know what a crash is - and probably don't know the definition of what constitutes real money either - but I think it'll all settle back up by the end of the month. Regulators are a-sniffin' though - and that possibly poses the biggest risk to trading from here on in... good or bad, the cat's out of the box and these digi currencies won't be disappearing anytime soon...
     
    VRS, Dec 1, 2013
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  4. VRS

    VRS Well-Known Member Silver Stacker

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    And as if by magic... btc-e now back up to USD$875-900, Mt Gox USD$1030-1050

    There's a huge amount of $ to be made on this volatility as the market develops and the masses jump in.

    Also we know who's most skilled at trading swings, manipulating prices etc don't we?!

    So be prepared for covert raids and massive exploitation by the major banks...

    Any regulation introduced to markets will of course be weighted very much in their favour.
     
    VRS, Dec 1, 2013
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  5. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Yup... nothing like a crash and people crying foul to get the regulators stepping in. This is just the excuse they're looking for.

    Governments know they can't stop digital currencies (they can't even get ObamaCare 1800FU running) but they sure as hell can convince a compliant investing population they need a rope around their ankle (and another hand in their pocket)
     
    Clawhammer, Dec 1, 2013
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  6. asdfghjkl32

    asdfghjkl32 Member

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    That's right, Mtgox already back to 1030 now. Just a quick sale, meant to get some but I was dreaming... in bed.
     
    asdfghjkl32, Dec 1, 2013
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