Silk Road forums

Discussion => Off topic => Topic started by: GOTMILKTEAM on October 26, 2012, 09:49 pm

Title: BITCOINS WTF
Post by: GOTMILKTEAM on October 26, 2012, 09:49 pm
whats the word on the street I heard the drop is because mt gox doesnt have bank access in EU and therefore trades are lower. All I know is I have seen a drop of 2+ usd in a week.

Pain in ass for everyone, so whats the word any insight?
Title: Re: BITCOINS WTF
Post by: jameslink2 on October 26, 2012, 11:49 pm
LOL, Complain when it is going up, complain when it is going down.  ;D

I have read all I can and everyone seems stumped as to why it is falling. I have read of the MTGOX stuff, some were saying it was DPR Cashing out, even saw one say it was pirate@40 cashing out. I even read somewhere, meaning it may be bullshit, that one of the exchanges was manipulating the market down to collect coin so they could start a mixer.

Seems like every time it drops I see people on the internet posting that it is caused by SR vendors cashing out which I find funny. They seem to think we are making hundreds of thousands in BTC.

Truth is, it has dropped $2+USD in two days, Extra high volume and it looks like intentional market manipulation. However, there is no telling. There is no bad news and no one seems to know why it is dropping.
Title: Re: BITCOINS WTF
Post by: wsg on October 27, 2012, 12:21 am
So what your guess on there value ...i think they will rebound back to about $11 in 48 hours but my opinion might be the kiss of death
Title: Re: BITCOINS WTF
Post by: microRNA on October 27, 2012, 01:52 am
just short of a year ago it was very common for the value to drop a dollar or two - i dont think this is anything very unusual

do people not remember a few months ago when it freaking dropped like 6 dollars in a couple days?

now that was sketch and difficult given how much money everyone lost
Title: Re: BITCOINS WTF
Post by: ianfleming on October 27, 2012, 03:33 am
I'm annoyed. I was about to buy my best freind a cheap ounce of weed with my leftover BTC. Yesterday I would have had the cash, today I'm 60 cents short
Title: Re: BITCOINS WTF
Post by: marksum on October 27, 2012, 04:27 am
maybe the drop was from less buying which means less demand. maybe there was less buying because bitinstant was down?
Title: Re: BITCOINS WTF
Post by: jameslink2 on October 27, 2012, 11:00 am
maybe the drop was from less buying which means less demand. maybe there was less buying because bitinstant was down?

Nice try but no... Normal volume is around 30K, it has been up around 100k for the last two days. So it does not look like a drop in buying or less demand.