Bitcoin is crashing

[stevenash]

If u want to get into the other coins that the easiest way is to buy Bitcoins then trade them for the other coins. U might want to test things out first so u get the hang of it, buy, sell, trade, etc. Depending on how fast u want to get started with I know that if u verify everything u can start instantly with $800 at coinbase, then just send it to btc-e to trade for all the other coins but u might lose a few dollars because btc-e is cheeper than everywhere else.
Don't get caught in that stupid trollbox they will mess with your head and make u make mistakes.

Btc-e is in Bulgaria, are you comfortable sending what could be a fly by night exchange located in a third world country?
Do we even know where in Bulgaria? Suppose they owed you 25K, you jump on a plane to Bulgaria, do you know where you are going to speak to somebody?
Where exactly is Btc-e, are we even sure it's in Bulgaria?

[Legions36]

Btc-e is in Bulgaria, are you comfortable sending what could be a fly by night exchange located in a third world country?
Do we even know where in Bulgaria? Suppose they owed you 25K, you jump on a plane to Bulgaria, do you know where you are going to speak to somebody?
Where exactly is Btc-e, are we even sure it's in Bulgaria?

Dude what is your problem? Do u know how fast transactions are? This exchange is the best exchange i know of, people have millions worth on it and no issues. This is just a place to buy coins and trade, from what i can see its real safe and secure. I mean for a guy thats as paranoid as u then just transfer each day in an out to your wallet, this process takes like 10-20 mins.

[Legions36]

What stuff are people saying?
If I take my time why is this the best time for serious gains?
Why will the upcoming holidays take the market completely out of control?

If your going to be annoying about it i just won't answer u anymore. Who even asks these questions? Just like u find out about stuff here at SBR its the same for coins. I already told u guys what I know, i'm not going to repeat myself. U can choose to take my advice or not and i wont lie to anyone that u can count on, so do what u want from here on out.

[stevenash]

Dude what is your problem?

Start here, and keep reading....

https://bitcointalk.org/index.php?topic=40889.msg3708036#msg3708 03
This is page 67, when done, go to 68 etc

[rolltideroll0]

1 bitcoin = $890 dollars. Not exactly crashing.

PS- Stevennash why did u change ur avatar? Because the real Steve Nash is now a washed up hack? Are we going to see u with a Lebron James handle next week?

[stevenash]

1 bitcoin = $890 dollars. Not exactly crashing.

PS- Stevennash why did u change ur avatar? Because the real Steve Nash is now a washed up hack? Are we going to see u with a Lebron James handle next week?

#1 Change is good, never be afraid of change
#2 My username is Steve Nash because he is my favorite player, when I was a kid, Bird was my favorite and remains my all time favorite, but I loved Dennis Johnson as well.
#3 Yes, Steve Nash is at the very end of his first ballot Hall of Fame career, but the Lakers have him under contract, he still loves to play, and the Lakers pay him for doing what he loves, so why quit now, but he will retire at the end of this contract.
#4 Why would I change my user name to LeBron James, I can't stand the prick.
#5 Anything else? Or does this conclude the question and answer portion of todays program?

[Legions36]

Start here, and keep reading....

https://bitcointalk.org/index.php?topic=40889.msg3708036#msg3708 03
This is page 67, when done, go to 68 etc

Why even post this link if u noticed the few people that had issues were people trying to buy in directly to them, i have not recommended any of this. I recommend transferring to coinbase for this type of stuff, I mean come on everyone that has coins knows this, only people that don't like yourself will try something like that.
When u post something I don't already know then maybe we can be on the same page but im not super paranoid like u and i don't keep all my money there, only money that i want to trade which i can get in 10mins.
Can I ask you do u even play anywhere because from the sound of if I think your just to scared to deposit or even to scared to place a bet? So what is it and what are you trying to prove?

[rolltideroll0]

#1 Change is good, never be afraid of change
#2 My username is Steve Nash because he is my favorite player, when I was a kid, Bird was my favorite and remains my all time favorite, but I loved Dennis Johnson as well.
#3 Yes, Steve Nash is at the very end of his first ballot Hall of Fame career, but the Lakers have him under contract, he still loves to play, and the Lakers pay him for doing what he loves, so why quit now, but he will retire at the end of this contract.
#4 Why would I change my user name to LeBron James, I can't stand the prick.
#5 Anything else? Or does this conclude the question and answer portion of todays program?

Initially ,I thought u were just a typical dipshit, broke, SBR clown. After reading ur reply (this 1 and the others in this thread), I stand corrected. Well played sir...well played

[PAULYPOKER]

LocalBitcoins (USD)



Summary

<label style="display: inline-block;">Last Trade</label>

1526.44

<label style="display: inline-block;">Best Bid</label>

1422.3

<label style="display: inline-block;">Best Ask</label>

862

<label style="display: inline-block;">Trade Time</label>

13 min ago

<label style="display: inline-block;">30-day Range</label>

130 — 2376.07

<label style="display: inline-block;">30-day Volume</label>

10,318.83472184 BTC

<label style="display: inline-block;">30-day Volume (Currency)</label>

8,724,567.80 USD

<label style="display: inline-block;">Symbol</label>

localbtcUSD

<label style="display: inline-block;">Currency</label>

USD

<label style="display: inline-block;">Website</label>

https://localbitcoins.com/

[muldoon]

Bit of cherry picking there pauly

Why not list this guy as the current price lol

https://localbitcoins.com/ad/53285/purchase-bitcoin-paypal-united-states

Buy bitcoins online with US Dollar (USD)

LocalBitcoins.com user XXXXXXXXXXXXXXX wishes to sell bitcoins to you.


Price:

9559.00 USD / BTC

[PAULYPOKER]

If booting up the computer, clicking on bit coin charts,copy and pasting local bit coins most recent trade is cherry picking........

I'm guilty as charged,Lol..........

[stevenash]

What is the US dollar made of?

I'll answer your question with a question.
What is required to buy a bitcoin with?

[stevenash]

Sell your bitcoins with cash, receive US Dollar (USD)

LocalBitcoins.com user orangeman1979 wishes to buy bitcoins from you


Price:

776.56 USD / BTC

[stevenash]

orangeman1979 (0)	Stamford, CT 06905, USA	29.0 miles	774.35 USD		Sell
tompiper (1; 100%)	Stony Brook, NY, United States	29.4 miles	855.00 USD	20 - 250 USD	Sell
wallstreetcoins (19; 100%)	Stamford, CT, USA	30.3 miles	792.00 USD	200 - 9999 USD	Sell
frankcohen69 (0)	Long Island, New York, USA	42.7 miles	860.39 USD	150 - 200 USD	Sell
Sjwolen24 (0)	Woodbury, NY 11797, USA	45.3 miles	791.56 USD		Sell
btctrader567 (1; 100%)	White Plains, NY, USA	48.6 miles	946.34 USD	500 - 10000 USD	Sell
sfresco (0)	White Plains, NY, USA	48.6 miles	888.74 USD	60 - 120 USD	Sell
wallstreetcoins (19; 100%)	Connecticut, USA	49.4 miles	792.89 USD		Sell
awerbeast (0)	Scarsdale, NY, USA	51.3 miles	860.39 USD	50 - 100 USD	Sell
DoubleGoose (0)	Manhasset, NY, USA	58.1 miles	761.93 USD	At least 1000 USD	Sell
haimben (0)	Hempstead, NY 11550, USA	62.7 miles	860.39 USD	499 - 500 USD	Sell
diesel171 (3; 100%)	Bronx, NY 10465, USA	64.0 miles	819.71 USD		Sell
stander (0)	Westbrook, CT, USA	64.1 miles	731.33 USD	100 - 800 USD	Sell
wallstreetcoins (19; 100%)	Bronx, NY, USA	65.4 miles	792.89 USD		Sell
btc.buyer777_gmail.com (0)	11355, Flushing, United States	69.0 miles	736.00 USD	100 - 30000 USD	Sell
jset10 (2; 100%)	Queens, NY, USA	69.3 miles	802.03 USD	100 - 550 USD	Sell
wallstreetcoins (19; 100%)	Queens, NY, USA	69.3 miles	792.89 USD		Sell
zach46290 (1; 100%)	Jamaica, NY 11432, USA	70.1 miles	819.71 USD	400 - 1000 USD	Sell
iPCcoin (0)	Jamaica, Queens, NY, USA	71.0 miles	250.00 USD	At least 124 USD	Sell
ddylan (0)	Englewood, NJ 07631, USA	71.4 miles	802.03 USD	30000 - 30049 USD	Sell
wallstreetcoins (19; 100%)	New York, NY 10031, USA	72.7 miles	792.89 USD		Sell
wallstreetcoins (19; 100%)	New York, NY 10029, USA	74.5 miles	792.89 USD		Sell
wallstreetcoins (19; 100%)	New York, NY 10026, USA	74.6 miles	792.89 USD		Sell
WillCountyBitcoin (3; 100%)	2929 Broadway, Columbia University, New York, NY 10025, USA	74.9 miles	843.18 USD	1000 - 20000 USD	Sell
goldmanmint (0)	Manhattan, New York, NY, USA	75.6 miles	550.00 USD	550 - 2200 USD	Sell
divinejudge1 (0)	Ridgefield, NJ, USA	76.5 miles	819.71 USD	20 - 1000 USD	Sell
spicepay (100+; 97%)	New York, NY 10021, USA	76.8 miles	860.39 USD	2000 - 10000 USD	Sell
WillCountyBitcoin (3; 100%)	2394 Broadway, New York, NY 10024, USA	76.8 miles	955.90 USD	1000 - 25000 USD	Sell
wallstreetcoins (19; 100%)	New York, NY 10021, USA	76.8 miles	792.89 USD		Sell
nybtc (100+; 100%)	Suffern, NY 10901, USA	77.4 miles	843.18 USD	1000 - 5000 USD	Sell

[PAULYPOKER]

i'll answer your question with a question.
What is required to buy a bitcoin with?

BRICc.....

[stevenash]

BRICc.....

You need dollars to initially buy bitcoins

[Legions36]

I knew something was going on this weekend but I didn't know it would have this kind of impact. It does look like China doesn't want anyone of there banks or processors dealing with them. So the Chinese have until Jan 31 to get all the money out or they wont be able to get the money from the exchange. Luckily I backed off before any of this was going on. I can't tell u how much off an effect this will have on the price but they are a big part of the high prices. I say wait until the price stabilizes and go from there. Right now from what im looking at is the big traders are trying to move the market.

[stevenash]

^

China's crackdown on Bitcoin has begun in earnest, according to Bill Bishop, the editor of the Sinocism newsletter and a New York Times contributor.Bishop is confirming this evening an earlier report from Coindesk.com's Emily Spaven that the People's Bank of China has issued a new ban on third-party payment processors from doing business with Bitcoin exchanges
.
It's a sign, he Tweeted, that China is "now cracking down harder" not just on Bitcoin but most other digital currencies, including Litecoin. "PBOC does not like it, does not want it to become another speculative bubble here. Tough to fight the PBOC," Bishop wrote.

Bitcoin prices on the yuan-traded BTC China exchange are down 34% on the news, and prices on the USD-traded Mt. Gox exchange were flirting with $700 all night. Mt. Gox prices were off 19% on the day.

The latest ban is a a separate regulation from the People's Bank of China's Dec. 5 ruling barring formal financial institutions from processing Bitcoin. Rui Ma, a China-based angel investor, commented that if the crackdown continues, Chinese may only be able to purchase Bitcoins via miners or other traders.

[bettingstation]

bitcoin is too risky...

[The Kraken]

bitcoin is too risky...

Tell that to Raiders you fukking moron

[relaaxx]

love this thread

[stevenash]

^
Me too

[jjgold]

Buried today
lost 50% value
all suckers in now losing their shirt

[stevenash]

Buried today
lost 50% value
all suckers in now losing their shirt

Tried to warn you guys, it was a scam from jump street.
No guys, it's not going to bounce back, give it up, dead as a hammer.

The Bitcoin Swan Dive Was Utterly Predictable



Bitcoin took a pounding in the last 24 hours, dropping below the $500 mark on the popular Mt.Gox exchange before rebounding. As TechCrunch’s John Biggs wrote this morning, “China’s biggest Bitcoin exchange, BTCChina, has stopped accepting deposits in Chinese yuan,” which added to the currency’s decline.

However, the fall of Bitcoin’s value has been underway for some time, making the Chinese news merely component to the larger story: Bitcoin is losing momentum.

What pushed Bitcoin to $1,200 is the precise quantity that is taking it down. Hype, media interest, and speculative hope drove it up, and a lack of hype, media disinterest, and falling speculative buys are driving it down.

Bitcoin is trading at $606 at the time of writing. I made fun of Bitcoin when it initially hit $645: “Currently trading around $645 per coin, it has never been worth more, or generated more headlines that I can recall. The two are likely connected.” Yes.

The rise of Bitcoin was a classic bubble. Here’s the Mt.Gox chart of Bitcoin’s price on a daily basis:

So, to see a huge Bitcoin price correction isn’t surprising in the slightest. Let’s go over a few past entries on why Bitcoin was, and is a bubble:

The current rally is being fueled by the usual combination of presumed scarcity, an overzealous investor class, and truckloads of optimism. So, things will calm down in a bit, with a decent price correction. History teaches us that much. Also, can I sell you this tulip bulb.

And:

People keep saying this isn’t a bubble, and it confuses me. Of course this is a bubble. It’s a far too rapid increase in the price of a financial instrument that is unmoored from any inherent value that is being bid up by aggressive individual speculation. What else is that?

Bitcoin has risen up to $621 from $606 since I started writing this short blog post. That doesn’t matter.
What does matter is that the price of Bitcoin has long outstripped the utility that it can provide. This became far more true after the implosion of Silk Road. Until Bitcoin has benefits commensurate with its price, it will remain overvalued. For now, the dollar cost of each coin is far higher than the value you can derive from it — its use for things that you can’t use other currencies for, or wouldn’t want to — aside from its status as an instrument of speculation.

Speculative demand never keeps the value of an asset class high over time.

And Bitcoin is hardly even an asset class.

[bettingstation]

wow... good to know that...

[bostonboss]

bitcoin has the same value as monopoly money....sharps got in early.....fed the fish and got out.....

[stevenash]

sharps got in early.....fed the fish and got out.....

[Legions36]

Why is it funny to some of u that people lost $? I don't think that's funny at all. Maybe u guys r right about some stuff but I did say last week to be careful of this week that something was up. Something is still up and wait until it levels out by the end of January. As of right now i'm done for the time being with most everything back home and still up thank god(right at crash like i anticipated). There is still $ to be made just maybe not this week.

[Legions36]

Anyone who wishes bad on others deserves no respect at all.

[bostonboss]

bitcoin is on death's door no money to be made with it ever again.

[Legions36]

bitcoin is on death's door no money to be made with it ever again.

I hope your wrong. For me right now its about $ with this game. For the sake of ease of depositing and getting your $ back in hands this is the easiest and best way for us in the sportsbetting industry if it would ever take. To bad that right now prices have such fluctuation or it would be the best thing for us.

[PAULYPOKER]

Already made money on bit coin and now playin wit house money.........

If it crashes,so what,but I would like to make some more......

Local bit coins is where the pump and dump action is........

!30 to 2376 swingin in 30 day span........

Now that's fukkin Action boys!

[PAULYPOKER]

China backed out of the undermining the us dollar through bit coin.........

Now just wait and see BRIC growth through the fukkin roof....

[stevenash]

Anyone who wishes bad on others deserves no respect at all.

I don't find it funny at all, I don't wish ill will on anybody, well almost anybody, but with the exception of Rifleman, nobody on these boards.
I do pity the ones though that did not heed economic minds greater than mine that this was not a winning proposition, that these minds greater than mine knew that this was coming.

I do pity the ones that put dollar signs ahead of common sense, I don't wish ill will, I pity them.

Pity is not compaassion.

[stevenash]

China backed out of the undermining the us dollar through bit coin.........

Now just wait and see BRIC growth through the fukkin roof....

Paulie, get the hell off of this bitcoin thing, get off of this, NOW !
What part of this is a losing game don't you get???
It's a baseless currency man. Get out NOW