Bitcoin crashes, losing nearly half of its value in six hours
- Thread starter ly2 from WF
- Start date
So it rises to $266 today and you Llamas are all shouting fire in the theater when it corrects down to between $160-$180?
Whatever happened to all of the "ITS A BUBBLE!" Crap and calls for it to drop down to $0.01?
If anything, today's drop Proved beyond a shadow of a doubt that it is indeed not a bubble.
If you look at my post you will notice I was talking about it being a bubble yesterday and I still think its a bubble. Being a bubble doesn't mean that it has no value or that it will go down to .01, it just means that the run up from $60 to 260 in a span of a couple month was unjustified and drive by irrational thinking rather than anything fundamental and that a 50% dropped on no news or reasoning only further strengthens the case that its a bubble. Anything fairly valued doesn't go up 40% one day to be followed by 50% drop the next.
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Don't worry about the easily DDOSed exchanges, hacked wallets or dramatically swinging values, you can't lose with Buttcoins!
Remember boys and girls :
=
That's because its metaphysical esoteric garbage. René Guénon is the kind of person who would sell you quartz claiming it will release the fifth circle of your inner soul or some other similar hocus pocus.
Going the other way bro. Definitely not a bubble.
Then you don't seem to have the cognition abilities to see that the chart no longer looks like the classic bubble chart after today.
It will go up again now. Just watch.
1. That's just a very small daily fluctuation on a very large uphill climb during price discovery.
2. There is news now; the Reddit thing where someone dropped tons of bitcoins on other redditors and they all ran to sell their new-gotten gains... Makes sense to me.
I do believe that you are one sad, pathetic little human being now.
People like you doing things like this have made me decide something important here today:
MY WORK IS DONE HERE.
I will not be discussing bitcoin on wickedfire anymore.
Those of you that are worthwhile already talk to me through PMs, come to my blog, or have my Skype username.
The rest of you are unworthy.
I've said all that I needed to say anyway.
Good luck to us all.
[ame=http://www.youtube.com/watch?v=WpYeekQkAdc]The Black Eyed Peas - Where Is The Love? - YouTube[/ame]
As much as I don't fully understand bitcoin... and as much as my gut tells me it's worthless... I can't help but think that a select few individuals will bank off of this in the future.
People said the Internet wouldn't work, credit cards wouldn't work...
It's only a matter of time and its been fun watching this happen.
People said the Internet wouldn't work, credit cards wouldn't work...
It's only a matter of time and its been fun watching this happen.
i like you lukep. that said...
questioning others chart reading abilities combined with your questions about what 'tall green bars mean' in the same day is a bit too much for those of us who've spent 2+ seconds in the real markets to take.
a bit of humility and patience goes a long way.
The only reason it's going up again is because people think they're getting a bargain price after the recent high. That is also one of the biggest mistakes one can make when investing in anything.
So you're telling me that everything has a real value and a perceived value? And that the masses can be influenced?
