Membership is FREE, giving all registered users unlimited access to every Acorn Domains feature, resource, and tool! Optional membership upgrades unlock exclusive benefits like profile signatures with links, banner placements, appearances in the weekly newsletter, and much more - customized to your membership level!

Bitcoins in 2014?

Status
Not open for further replies.
Price dropped below $300, currently at $287.5

Checked Reddit but I am unable to find any news which could have caused this drop (earlier Today it was at around $320)
 
Price dropped below $300, currently at $287.5

Checked Reddit but I am unable to find any news which could have caused this drop (earlier Today it was at around $320)

Maybe there was a bit of a sell off over the festive period with people needing the cash

Just a guess
 
That would have (presumably) effected it before Jan 1st when people would have been more likely be needing cash (which payday loan led gen volumes would suggest)

The market is small enough that someone who mined and held a few years ago can still create huge dips in the market by cashing out. I haven't followed as I don't care enough but if you watch Bitstamp order book you can see huge orders causing this
 
It's like monkey said, it's big holders cashing out, most likely because they are frustrated with this protracted bear market or they simply needed to free up capital. It's not news driven, this is just a slow and painful drain, which will continue until a final, dramatic capitulation. It's what happens after that which will determine the next year or so for bitcoin, but god knows when it will happen :/
 
I saw someone on Twitter suggest it was a big player intentionally selling Bitcoin to lower its price ... I can't remember who though!

Also, recently California has taken a step forward in recognising Bitcoin:

http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california

Watch out for news of further parties accepting Bitcoin, as these are important steps. Personally I'm becoming more and more confident that Bitcoin is going to "make it". What I can't see is any particularly easy to implement ways to make money from the new technology ... I can see plenty of difficult to implement ways though, like starting your own Bitcoin payment service, but it's not something you could do on your own.

Rgds
 
I would imagine there is still billions to be cashed in from original investors.
People have to put new money in for early investors to get their money out.
A long haul gradually downwards lower tops lower bottoms.
$270 today a long way from the $10000 predicted.

Anyone know the volume necessary to push it back up to even $400

At least with tulips you did get delivery of the bulbs.
 
The success of every currency boils down to trust. From a complete Bitcoin novice's perspective, their trust has been pretty badly damaged the last 12-18 months or so?
 
Coins disappearing from online wallets and exchanges closing (and appearing to do so in worrying circumstances).

The price falls are a symptom of loss of trust I guess. But if anything they should counter it as the risk of buying into the market balances itself.
 
Price collapsing, presumably due to Bitstamp being hacked.

If anyones panicking and wants out I'll buy your coins and current value :)
 
I sold all mine at $550... got spooked these last few days but relieved to see it keep getting knocked back by resistance at $400. I genuinely think this bear market will eventually bottom out in the $2xx, the question for me is how long will it take?

Bloody glad I didn't take my own advice! :eek: There was never any sign of a genuine reversal in the £2xx range, all of the bounces fizzled out with dropping volume, ready for the next big sell-off. Christ knows where this ends... a lot of the charters seems to think around $130, but I'm staying out until we are clearly in a new bull market, I'm not going to attempt to catch near the bottom.
 
Whats the easier way to buy bitcoin? Whenever I've look into it, it doesn't seem immediately straightforward. I'd quite like to get involved in a small way at this price.
 
Whats the easier way to buy bitcoin? Whenever I've look into it, it doesn't seem immediately straightforward. I'd quite like to get involved in a small way at this price.

I've used localbitcoins.com paying via bank transfer without a problem
 
The two services I've heard mentioned on another forum for purchase of Bitcoins are localbitcoins.com and circle.com. However, I have not looked into the security of either of these two yet, so I suggest you do your own research. My understanding is the original MTGOX exchange hack was possible because users had given their private keys over to the exchange. It is important to hold onto your private keys yourself and not let anyone else know them for proper Bitcoin security.

Rgds
 
Also, my own view is that attempting to trade Bitcoin for profit on a short term basis would be exceedingly difficult as it's a very imperfect market at the moment that can be moved by a few big players. Long term though, I think there is very interesting potential, although the attitudes of major Governments are still going to come into it.

I think there are 139 currencies in the world, and Bitcoin is already more attractive than many of them for people around the world.

Rgds
 
Status
Not open for further replies.

The Rule #1

Do not insult any other member. Be polite and do business. Thank you!

Members online

Premium Members

Acorn Domains Merch
MariaBuy Marketplace

Our Mods' Businesses

Laskos
*the exceptional businesses of our esteemed moderators
General chit-chat
Help Users
  • No one is chatting at the moment.
  • D AcornBot:
    DarkSky has left the room.
  • ukbackorder AcornBot:
    ukbackorder has left the room.
  • T AcornBot:
    ttek has left the room.
  • Admin @ Admin:
    Hello. So, do anyone happen to know anything about Whois and how it can be accessed?
  • BrandFlu AcornBot:
    BrandFlu has joined the room.
  • BrandFlu AcornBot:
    BrandFlu has left the room.
  • Helmuts @ Helmuts:
    Admin said:
    Hello. So, do anyone happen to know anything about Whois and how it can be accessed?
    ;) you are leaking info ;) :D :D
    • Funny
    Reactions: Admin
  • D AcornBot:
    Darren has left the room.
      D AcornBot: Darren has left the room.
      Top Bottom