Bitcoin lost half of its value within a month

Discussion in 'Bitcoin and Cryptocurrency' started by MassTurk, Jan 14, 2015.

  1. MassTurk

    MassTurk Member

    I don't know what caused it to happen. Last few times I checked within the last 24 hours, it has dropped over 40.00$ . wtf is going on with bitcoin?
     
  2. Gramps

    Gramps Member

    There was another post somewhere regarding BC monitoring how money is used. Maybe word is getting out that those using it for such means are being watched?
     
  3. MassTurk

    MassTurk Member

    Thought of that too but it's a free fall for the last 48 hours. I thought someone might have heard something. Any other commodity or currency loosing 50% of its value this quickly would have been front page news
     
  4. Millard Baker

    Millard Baker Member

    I know that the Overstock news on Bitcoin sales back in December is old news. But I think that it was a good indicator of the disappointment of BTC as a currency.

    Overstock originally anticipated $5 million BTC sales in 2014. Then CEO Patrick Byrne start pumping up expectations suggesting overstock was on track to meet $10-20 million in sales projections back in March.

    Then the truth came out in mid-December: sales were only $3 million.

    It makes you wonder about Bryne's motives.

    Source: http://www.coindesk.com/overstocks-2014-bitcoin-sales-miss-projections-3-million/
     
    MassTurk likes this.
  5. Millard Baker

    Millard Baker Member

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  6. BIGMESC

    BIGMESC Member

    How low do you think it will go?
    Might be a good time to buy soon unless it totally crashes and goes to $1
     
  7. Millard Baker

    Millard Baker Member

    MindlessWork and pumpingiron22 like this.
  8. MindlessWork

    MindlessWork Member AnabolicLab.com Supporter

    Bitcoin's value seems to be fluctuating so much more than say the dollar is on a moment to moment basis. Where can you look up the current value of bitcoin?
     
  9. MassTurk

    MassTurk Member

    Thank you Millard for the articles. A lot to take in but I still believe in this currency to have a part in the future.
     
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  10. MassTurk

    MassTurk Member

    It fluctuated all the way down to 156.00 at one point and just a few minutes ago went back up to 206.00. It's insane
     
  11. MindlessWork

    MindlessWork Member AnabolicLab.com Supporter

    Yea, changes by the second...scary