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?
MESO-Rx
Anabolic Steroids
Bitcoin lost half of its value within a month
- Thread starter MassTurk
- Start date
Gramps
New 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?
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
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/
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/
Here are three recent news events that have been linked to recent crash:
(1) Largest exchange Bitstamp hacked, loses millions
(2) Russia bans bitcoin
(3) Largest bitcoin miner CEX.IO suspends mining operations
Source: http://briankellycap.tumblr.com/post/108083988817/why-bitcoins-price-has-crashed
(1) Largest exchange Bitstamp hacked, loses millions
(2) Russia bans bitcoin
(3) Largest bitcoin miner CEX.IO suspends mining operations
Source: http://briankellycap.tumblr.com/post/108083988817/why-bitcoins-price-has-crashed
BIGMESC
New 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
Might be a good time to buy soon unless it totally crashes and goes to $1
Who knows. If this represents a speculative bubble, then it will have fully deflated at around $150:
http://www.nasdaq.com/article/bitco...current-levels-shouldnt-be-a-concern-cm432278
It will be up to free market to determine it's underlying value. There's a range of outcomes and there's a good chance that underlying value could be $0. But it could be much much more:
https://coincenter.org/2014/12/volatility/
http://www.nasdaq.com/article/bitco...current-levels-shouldnt-be-a-concern-cm432278
It will be up to free market to determine it's underlying value. There's a range of outcomes and there's a good chance that underlying value could be $0. But it could be much much more:
https://coincenter.org/2014/12/volatility/
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?
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.
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
Yea, changes by the second...scary
