Coin Crash

[peachtopus]

what just happened?

 

LTC down to $15.

BTC down below $600.

and half the coin sites I go to are down.

 

ITS THE COINPOCOLYPS!!!

[wng_kingsley7]

or its just a digital recession

[voaz]

Coins have been hyped for the past year now, the price means nothing.

[AK0490]

shakes head and walks away

[Vitalius]

or its just a digital recession

This.

It's what happens when banks fail. The exchanges are our equivalent of banks. And MTGox and a few other major exchanges aren't allowing withdrawals due to DDoS attacks.

So, effectively, they are failing.

[xrex64]

Thanks, Obama. 

[wng_kingsley7]

This.

It's what happens when banks fail. The exchanges are our equivalent of banks. And MTGox and a few other major exchanges aren't allowing withdrawals due to DDoS attacks.

So, effectively, they are failing.

probably in a years time the highest value of the bitcoin, litecoin will return to their peak value but its pretty difficult to know whether it'll every happen again.

I know someone and he lent me one of the first batch produce of physical bitcoins and lite coins

[MatheusSanzo]

Again? Probably because happens every two weeks or so.

[Theo]

doge has doubled 

[peachtopus]

its not just the prices, I cant get on a lot of coin sites.

[Rheinwasser]

doge has doubled

wow, is it 0.0002 now? :oo im rich.

[Theo]

wow, is it 0.0002 now? :oo im rich.

1doge = 0.0000026BTC, used to be 0.0000014

[TheNinjaNextDor]

Doge to the mooooooooon

[roid]

Pump and dump baby, with btc being banned in Russia, mt.gox software failing, Canada starting to regulate btc, banks rejecting btc, money laundering, and major exchanges holding withdrawals is causing a lot of speculation and people are getting worried and dumping their coins at a very low price. Its all just a reaction to news and recent events with mt.gox thats causing it to go down so low. It will rise again and once mt gox gets their shit together should see it become more stable. In the meantime might want to jump on the bandwagon and buy at a low and sell once it pumps back up, but dont buy anything you cannot afford to lose, always.

http://www.reddit.com/r/Bitcoin/comments/1xtcpd/after_a_week_full_of_crises_like_charlie_shrems/

http://www.coindesk.com/canadas-finance-minister-regulate-bitcoin/

Lol and SR2 just got hacked and all their btc was stolen..gotta love karma.

Edited February 13, 2014 by roid

[Advent]

My buddy is sitting on a shit ton of LTC right now lo.

[notaniel101]

since the price is now way down, do you think the network hash rate will decrease for ltc/any other coins as people who jumped on stop mining?

[scaryjam823]

It's just because there's a low volume of btc thanks to gox's issues with people not being able to withdraw them and people panicing. It will be back up soon after this gox stuff settles

[Frodo]

mtgox blames "bug in bitcoin software" for their withdrawal problems. https://www.mtgox.com/press_release_20140210.html
Transaction mellability is already known for years but many people just don't get it and panic.

[aselwyn1]

litecoin and bitcoin will go backup there's just currently a issue with the way the payments are done so its just temp

[scaryjam823]

mtgox blames "bug in bitcoin software" for their withdrawal problems. https://www.mtgox.com/press_release_20140210.html

Transaction mellability is already known for years but many people just don't get it and panic.

I seriously don't understand why so many panic when the coins drop a little in price. Typically it wont even drop 5% day to day, but people freak out and cause it to drop worse. If everyone just kept their cool with btc right now the price would be in the $700 range and be moderately stable.

[RankUpGamers]

And Dogecoin doesn't look at the market again . Glad to see we are really good at holding our prices away from btc.

[Matthias2556]

I seriously don't understand why so many panic when the coins drop a little in price. Typically it wont even drop 5% day to day, but people freak out and cause it to drop worse. If everyone just kept their cool with btc right now the price would be in the $700 range and be moderately stable.

I agree 100%, its ridiculous how unstable people are with these things, just look at any market crash going all the way back to the stock market crash of 1929 (well, thats a bit of a drastic example, but you get the point). people panic and start selling off their shares like crazy, and that causes the drop to be way worse than it was. honestly, you think people would have learned after all these years.