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Offline Method-X

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Glad I got out of bitcoin...
« on: September 19, 2014, 01:14:04 AM »

Price is at $422 as of this post.

All in BTSX.

Offline luckybit

Re: Glad I got out of bitcoin...
« Reply #1 on: September 19, 2014, 01:33:02 AM »
Price is at $422 as of this post.

All in BTSX.

It's going to keep dropping for a long time too because the Mt Gox hackers now that they know about the bounty are probably cashing all the way out in a panic.

When hundreds of thousands of Bitcoins are stolen then imagine what it could do to the price if someone decides to sell just 100,000 Bitcoins over the course of a month.
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Offline Method-X

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Re: Glad I got out of bitcoin...
« Reply #2 on: September 19, 2014, 01:36:33 AM »
Price is at $422 as of this post.

All in BTSX.

It's going to keep dropping for a long time too because the Mt Gox hackers now that they know about the bounty are probably cashing all the way out in a panic.

When hundreds of thousands of Bitcoins are stolen then imagine what it could do to the price if someone decides to sell just 100,000 Bitcoins over the course of a month.

Bounty?? I haven't been in /r/Bitcoin for a few weeks (BitShares obsessed :P) so I'm not totally up to date on whats happening.

Offline fuzzy

Re: Glad I got out of bitcoin...
« Reply #3 on: September 19, 2014, 02:12:59 AM »
wait until Ethereum opens up trading of their vapor token with multiple gateways open around the world...perfectly timed after bitcoin loses a crap ton of value.  *takes off tinfoil hat*

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Offline eagleeye

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Re: Glad I got out of bitcoin...
« Reply #4 on: September 19, 2014, 02:44:23 AM »
Price is at $422 as of this post.

All in BTSX.

It's going to keep dropping for a long time too because the Mt Gox hackers now that they know about the bounty are probably cashing all the way out in a panic.

When hundreds of thousands of Bitcoins are stolen then imagine what it could do to the price if someone decides to sell just 100,000 Bitcoins over the course of a month.

I read somewhere that hackers hacked into the owners computer (of Mt Gox) and it was him who stole the money.

Offline oco101

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Re: Glad I got out of bitcoin...
« Reply #5 on: September 19, 2014, 02:48:18 AM »
Price is at $422 as of this post.

All in BTSX.

It's going to keep dropping for a long time too because the Mt Gox hackers now that they know about the bounty are probably cashing all the way out in a panic.

When hundreds of thousands of Bitcoins are stolen then imagine what it could do to the price if someone decides to sell just 100,000 Bitcoins over the course of a month.

Bounty?? I haven't been in /r/Bitcoin for a few weeks (BitShares obsessed :P) so I'm not totally up to date on whats happening.

http://www.wired.com/2014/09/bitcoin_bounty/

Offline Maximus0352

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Re: Glad I got out of bitcoin...
« Reply #6 on: September 19, 2014, 05:13:26 AM »
Price is at $422 as of this post.

All in BTSX.

I have 2 coins stuck in btcjam.. Doh! :(

Offline speedy

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Re: Glad I got out of bitcoin...
« Reply #7 on: September 19, 2014, 07:28:50 AM »
Price is at $422 as of this post.

All in BTSX.

Unfortunately going all into BTSX does not protect against a fall in BTC.

Edit: I just remembered that 80% of BTSX volume is in CNY, not BTC, so maybe you are protected:
http://coinmarketcap.com/currencies/bitshares-x/#markets
« Last Edit: September 19, 2014, 07:30:59 AM by trader »


Offline Frodo03

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Re: Glad I got out of bitcoin...
« Reply #9 on: September 19, 2014, 12:16:49 PM »
Majority of my holdings are still in BTC. I'm not worried about the price drop at all. This is just the natural ebb and flows of Bitcoin. I would guess it'll go lower, but keep in mind Bitcoin's MASSIVE network effect (which is growing every day regardless of price). That's the main reason why I'm still long term BTC.

I think this price decrease is from Ethereum selling off some of their coins as well as merchants converting BTC instantly to fiat.


Offline callmeluc

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Re: Glad I got out of bitcoin...
« Reply #10 on: September 19, 2014, 12:20:29 PM »
Lucky we had bitcoin 2.0~

 ;D
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Offline Method-X

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Re: Glad I got out of bitcoin...
« Reply #11 on: September 19, 2014, 12:44:39 PM »
Majority of my holdings are still in BTC. I'm not worried about the price drop at all. This is just the natural ebb and flows of Bitcoin. I would guess it'll go lower, but keep in mind Bitcoin's MASSIVE network effect (which is growing every day regardless of price). That's the main reason why I'm still long term BTC.

I think this price decrease is from Ethereum selling off some of their coins as well as merchants converting BTC instantly to fiat.

This is pretty much what I've been hearing for the past 6 months. Bitcoins network effect is really [all] cryptos network effect in disguise. Everywhere bitcoin is used, other cryptos can easily be added with only minor tweaks. Bitcoin laid the infrastructure and every other crypto will pick up the torch when it's dead.

Offline wesphily

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Re: Glad I got out of bitcoin...
« Reply #12 on: September 19, 2014, 01:04:12 PM »
BTC is the index of crypto. If a few coins cause the index to go down then the index causes all the coins to go down. Also, the amount of money it takes to cause a downtrend like this for as long as it has been happening is too high to be contributed to one thing.

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Re: Glad I got out of bitcoin...
« Reply #13 on: September 19, 2014, 02:53:11 PM »
We have bitUSD! We don't need to cash out even if we are bearish.

Just bought some bitUSD. Bitcoins going to put downward pressure on btsx till the october conference.

Offline oldman

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Re: Glad I got out of bitcoin...
« Reply #14 on: September 19, 2014, 04:13:39 PM »
Price is at $422 as of this post.

All in BTSX.

I moved a substantial allocation from BTC to BTSX when BTSX listed... but I'm too old to have all the eggs in one basket.

Well played!

 

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