Hopefully you all sold went it started going south. If not Probably a good time to sell now.

Looks like a coordinated DDoS of the bitcoin forum and Gox.
It's been done multiple times in the past.

I personally am not getting involved with them and don't think they will last long term, but I hope they do because people should be in control of a non-regulated currency of some kind, or many kinds. I'll support anything that sticks it to governments and global bankers, even if it's short lived.

And it will continue to be done because that is how it is easily manipulated. Why pay $260+ when you can hit them and make the price $200 or less?

Yes i think so as well.

could be why i get that bad gateway at bitcoincharts

This is one of the reasons any sort of virtual money that is unregulated will never be stable. It's something you can't hold in your hand and you never actually take possession of it. It's like buying "gold certificates".

The value is only there as long as things are peachy, but if the economy collapsed you think you could really trade in that gold certificate for real gold? :error

Same thing with bitcoins. It's the same kind of novelty money as a gold certificate. There is only value as long as things are doing peachy. Bitcoins with no regulations means you never really know what kind of out side factor can effect them..

I'm not against the idea of them, but I just don't think they are gonna last. Money's success has always come because it's something you could hold in your hand. :2 cents:

Going to wait and see if it finds it legs again before buying back in.

haha, good point :thumbsup

Of course my bitinstant transfer finally came in and they charged me the $250/coin price instead of the $180/coin price like they said they would, blah, now I gotta make another ticket and wait another 2 days for resolution.

Go find out yourselves: http://www.bitcoin2013.com/location--travel.html

Mtgox loads fast again. Looks like the ddos might be over.

This seems to happen every week now.
This is a huge problem. If this keeps happening everybody will be afraid to buy again. It might kill the coin.

i don't understand how a coordinated ddos causes the price to fall, and fast. i would guess it would stall the price, no access means no exchanges, obviously i am wrong, anybody understand what is happening?

Mtgox has said there is nothing that can be done about. So this will continue, over and over and over until people get tired of it or someone finds a solution. It's a brilliant move really, ddos them and make the price drop and buy more. Rinse and repeat.

If that's the case I wouldn't be too worried about the drop in price.

One of the biggest vulnerabilities of the system is having one website making most of the trades. There needs to be lots of decent sites for trading, I suppose there may be in time but in the mean time this will continue to happen.

Plus it might help if they actually announced on Facebook or via email that they are getting attacked.

It was trading at $123 on BTC-E. Doesn't matter how many exchanges there are when everyone uses MTGOX as the basis for the price. BTC-E always trades lower than MTGox though.

i read they're working on a new site security system but it won't be ready until january.

Ya ive looked into this. Its a scam most likely but.. Hey what do i know.

The only way to solve is is to have many trading sites. Right now Mtgox controls pretty much the whole market so they are an extremely easy target.
As long as this doesn't change i don't see much of a future for BTC.

Got a feeling even if bitcoin wasn't in a bubble everyone is going to sell and abandon it anyway out of fear of losing more money. If not I'm ready to re-buy and ride it back up.

This crash, even if it stops now, might have seriously harmed BTC.
There are a lot of people who can't handle this and don't want to see this happen again.
My guess it's the ddos attack as 2 weeks ago but it went too far. Too much panic selling and huge damage to the coin.

Just a wild guess.

I just mined 5 shitcoins in my toilet, anybody wants to exchange them with me for 10 bc?

It must really hurt that even after a massive crash each coin is still worth more than you make in a week.
I can see why you are so upset.

If true, and the downward trend stops, would be the perfect time to buy in again.

We now know (at least) if this is the end of its uptrend that they can reach a value of $260.

Looking at it from a stock market perspective if nothing else, when DAL filed chapter 11 their stock price dropped to pennies, look where they are at now.

I would think that way but how many people with just a few bucks to invest will think this way after what happened today?

folks have short memories, + the next bubble will bring in new people, the clue i am looking for re: maximum penetration is when my parents ask me about it, i'll know then to sell.

Those who bought low will probably just see this as an opportunity to buy more.

But for those who took a position in the last couple of days for sure they will be shaken unless it recovers very quickly.

http://bitcoinity.org/markets?curren...exchange=mtgox

Lol funny to see all those lagged buy orders come in while people are selling at $120 or less. Yep, just the kind of secure investment to get into.

I'll stick with domains tyvm.

99.99% of GFY'ers now they can actually afford to buy 1 or 2 coins ;)

Only a big idiot could not see this coming...

Just check my previous messages, You boy can't say I didn't warn you.

:1orglaugh:1orglaugh:1orglaugh

The fact that you think shouting "bubble" over and over again makes you some kind of market genius is just silly.

Bubble or not everyone made a 50% or more profit. Unless you're still holding for some ungodly reason.

If i had more than 1 coin i still wouldn't be selling now.

or if they purchased in the last 3 days.,

The botnets that mine millions of $$$ of bitcoins are the same ones that ddos the market hence you see spread out large sales before the incoming attack to spook everyone in selling. Then they will buy back much much lower and do it all over again, hence bringing confidence back with the market orders.

But how many times will this happen before they completely kill the coin.

Yes and no, when it bounces back it shows strength every time, it can be a healthy sign that plenty still support it

these people need to be cut out of the equation somehow otherwise you could say bitcoin lives and dies by these criminals.

Yeh we'll mtgox need to get there faces slapped and change technologies, host in the cloud or take other precautions when faced with a ddos attack. I'm excited it back this low. I think a few people will stop mining and leave the others with more resources.