BTC $255 Getting Its Assed Kicked!

Nitros said:

If they don't have access to banks how will they cash out their bitcoins?

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They won't need to have access to banks because there will be a global acceptance of this technology so there employers could pay them with crypto and everywhere they went they could buy goods using crypto because now all the shops around the globe have full on internet access. They need a basic little computer which can scan a QR code or nfc tech.

BUY BUY BUY HYPE! Wait until some major company (i.e amazon, ebay) start accepting them and bank hard.

IMO, BitCoin is a great way to do transactions, but the currency is highly overpriced. It's likely going to settle out at a $100USD/coin range and become very stable. Of course, this has another problem: how are the miners going to pay the electricity bills to break the block-chains @ $100? Especially, the math is getting harder and harder by the day.

There is a possibility that someone will control 51% of the network and take control of the value, maybe a government agency etc. That could settle prices and stabilize them or have the opposite effect. That's capitalism for you guys.

there is a billion dollar industry built around it, getting commercial when being indifferent to the cause behind it can get anything into trouble, I still believe BTC will get moderated for greater good in coming years

Good thing I bought at $1,200. But it does not matter because the platform that I used to buy them got hacked and lost them anyway. Bitcoin sucks.

akany said:

Good thing I bought at $1,200. But it does not matter because the platform that I used to buy them got hacked and lost them anyway. Bitcoin sucks.

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So, YOU made foolish decisions, IT sucks

hanssolo said:

IMO, BitCoin is a great way to do transactions, but the currency is highly overpriced.

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There's no such thing as over/under priced in a supply and demand scenario.

Of course, this has another problem: how are the miners going to pay the electricity bills to break the block-chains @ $100? Especially, the math is getting harder and harder by the day.

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Decreased difficulty (i.e. more coins mined with the same power) & transactions fee.

akany said:

Good thing I bought at $1,200. But it does not matter because the platform that I used to buy them got hacked and lost them anyway. Bitcoin sucks.

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MTGox? I lost a BTC because of them fuckers.

hanssolo said:

IMO, BitCoin is a great way to do transactions, but the currency is highly overpriced. It's likely going to settle out at a $100USD/coin range and become very stable. Of course, this has another problem: how are the miners going to pay the electricity bills to break the block-chains @ $100? Especially, the math is getting harder and harder by the day.

There is a possibility that someone will control 51% of the network and take control of the value, maybe a government agency etc. That could settle prices and stabilize them or have the opposite effect. That's capitalism for you guys.

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If the value were to drop that low lot's of the big farms would have to turn off the plug and total network hashrates would drop substantially which would make it easier to mine eventually if it fell enough. Look at litecoin right now as an example difficulty drops bigtime.

First screenshot is BTC difficulty and it's not as bad as the LTC screenshot. But the btc's network's total hashrates is WAY WAY higher than ltc which means drastic changes won't affect it as much as LTC. But if prices continue to plummet BTC will eventually go down in difficulty like LTC.

Tthe blockchain tech is a genius system.

BTC


LTC

I keep track of the bitcoin, i made like 30 $ in 2 transactions and i was playing short yesterday when the price fall off , now is rising again. Can't predict nothing right now.

bitcoin lost its purpose

First the western governments/bankers aren't able anymore to undergo with the help of bitcoin the money exchange control of some important countries like china and russia.It was important for the US to get to these countries uncontroled money where bitcoin was the solution.
It has a reason why these countries "banned" bitcoin.
So bitcoin lost its biggest investor the US government/bankers.
After that it got useless for them and also many people understood that bitcoin is not the currency which it was advertised.
Its not anonym ,its very unstable for criminals and can get easly under governmental control.There are many possibilities .
The easiest and quickest one would be a run on the big exchange websites and bitcoin would crash instantly.But also taxation of bitcoin is possible.
To say the truth anybody having a bit more money would never join that coin as its clearly a scam coin in longterm.
Its so easy to manpilate the masses that it sometimes makes me really mad how people can fall for that and that they behave like animals.
Bitcoin rised from $1 to $1000 so everyone tries now to jump into the ship to make the quick easy buck.But this exectly is the manipulation to bring people into a scamming system and they dont even care as long as they are on top of the pyramid.The funny thing is that bitcoin was advertised as a currency for the people for trading.But when reading the posts of people you can instantly see that majority is using bitcoin as an investment and not as a currency.Thats will all the other pseudo currencies too.People jumping into cryptos just to make a good quick roi on their investments.But people should remember so somebody can make a profit on an investment there needs to be somebody else who is going to loose his investment.Easy economic rule.
THe last bites the dust.
Also please remeber there are only arround 250.000 people who are using bitcoin so not really a big base.

astyanax said:

This makes me so sad . I love bitcoin, and still use it a small amount to transfer money to staff and buy things online. It suks to watch it have fallen so much

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Don't be sad, BTC is fine. Take a look at the historical hash rate: https://blockchain.info/charts/hash-rate

What platform is most trusted for buying bitcoins?

Yeah BTC is too damn volatile right now but I always believe it will survive especially when companies/individual realize they don't really have to pay taxes on it.

There's just so much bad things happening in the crypto world right now and its really affecting btc in a lot of ways. With major exchanges being hacked (bitstamp) people and/or companies are losing money and I would imagine customers on these exchanges to be getting very weary about this. Many have panic sold and once that starts we go right into a freefall as we've been doing since the start of the year. Its just one bad thing to the next that's been happening lately. Eventually it will recover. Then again this has also been said about a year ago after the first crashes have started. Its been doing down since. Unless you've got money to put aside and dedicate to this, would be best not to hold onto coins for very long.

its now below $200, wow.

Brad100 said:

its not below $200, wow.

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yes it is...

Nitros said:

yes it is...

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It was a typo, I fixed it

It appears to be making some sort of recovery after the past week losing value. The question now is, is it over or is there more to come?