BITCON... WHY its totally FLAWED

Discussion in 'Digital Currencies' started by 1for1, Aug 6, 2012.

  1. 2ds

    2ds New Member

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    doesn't seem like a crash, looks like one person sold out when there was the market depth / price he/she wanted?
     
  2. 2ds

    2ds New Member

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    Other theories are popping up that it's an intentional crash with people manipulating the currency for gain
     
  3. pro$pector

    pro$pector New Member

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    Agree, which in turn caused panic selling by others.

    It's nothing more than consolidation / profit taking in a market that ran too far, too fast.

    If only I was awake to buy them for $100 US when it dipped that far on BTC-E...if only...
     
  4. MetalMensch

    MetalMensch Member Silver Stacker

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    Seems some are blaming a DOS attack...hmmm
     
  5. Phiber

    Phiber Well-Known Member Silver Stacker

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    God call guys!
    We shouldn't be surprised to see the price drop heaps in a few hours when it went up so fast. It will stabilise at some level and some will be getting back in me thinks.
     
  6. hawkeye

    hawkeye New Member Silver Stacker

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    Great call by those who got it. Especially Prospector, my hat's off to you mate. While I was umming and ahhing you made the call and acted.

    This should be a lesson for the silver bugs on here as well. Don't think silver is going to reach some plateau where you can sell at your leisure. It will do the same bubble/crash thing.
     
  7. hawkeye

    hawkeye New Member Silver Stacker

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    Yeah, I'd say the excitement is over for 2013. Good, it will give me the chance to start accumulating again once the price stabilises.
     
  8. goldpelican

    goldpelican Administrator Staff Member

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    [imgz=http://forums.silverstackers.com/uploads/5_bubbles.png][​IMG][/imgz]

    Just sayin'.
     
  9. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    My PPC basically wiped off half its value too.
    It just followed BTC.

    Thinking of just getting out now, but it's just such a loss.
     
  10. pro$pector

    pro$pector New Member

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    I'm about to put up a post in the sales area offering to buy all alternative Cryptocurrencies (except BTC) for AUD bank transfers for anyone who wants out quickly, see the thread for details.

    Call me a vulture if you must... :lol:
     
  11. rbaggio

    rbaggio Active Member Silver Stacker

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    Hang on, didn't someone a few days ago post:

    * If metals go up, I win. or
    * If BTC go up, I win.

    I guess he didn't think that BOTH could go down.
     
  12. clubman

    clubman Member

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    Big fall!!!!!!!
     
  13. gcsun

    gcsun New Member Silver Stacker

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    Interesting point, btc is still higher than it was a 1 week ago.
     
  14. trew

    trew Active Member Silver Stacker

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    Hats off to prospector for timing

    Although it is back up to $170 so I suspect the hoards coming in may not be scared off so easily just yet


    As to calls of manipulation - does anybody really believe there is no manipulation going on ?
    A system not controlled by any govt, not governed by any laws, no policed by any agency
    No laws to break no matter what you do and nobody to come after you
    What more can a criminal organisation want ?
    Only the totally naive would think every bit coin player is an honest world citizen
     
  15. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    [​IMG]

    Can't help but think we're between 'Bull Trap' and 'Return to "Normal"'
     
  16. gcsun

    gcsun New Member Silver Stacker

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    My bitcoin wallet on phone keeps crashing and I cant access it. Any tips to fix?
     
  17. hawkeye

    hawkeye New Member Silver Stacker

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    No. It's the closest thing to a free market there is. Right now it is finding it's value. It's very illiquid atm, so that affects price. Big amounts of money can shift things more in either direction the less liquid the market is.

    Real manipulation of markets requires government. Who else can counterfeit and get away with it? Who else is there to bailout large reckless institutions who get into trouble when they try manipulating things?

    People are so eager to find conspiracies when i reality, the big conspiracy is out in the open. It's called government.
     
  18. Load of Bullion

    Load of Bullion Well-Known Member

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    This latest Bitcoin price crash is nothing (yet) compared with Bitcoin's first major one. It went from around $30 to $1. As good Bitcoin sites say, Bitcoin is not a place to park savings. At the end of the day, no matter the price, it does have value and it works as currency.
     
  19. renovator

    renovator Well-Known Member

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    Real manipulation needs governments ? I dont think anybody told the Hunt bros that

    All you need for manipulation is collusion not governments .
     
  20. pro$pector

    pro$pector New Member

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    This couldn't be more true.

    Bitcoin does function really well as a currency, and is used as one on a growing scale.

    This is coming from someone who exchanges bitcoins for goods on a constant basis (but is also guilty of speculation).

    Whether BTC is $1 or $1000, it still works just fine as a currency and has done for a few years now.
     

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