10K: Bitcoin implodes... GG to those that fluffed it up.
 

http://static.arstechnica.net/assets...auto-26683.png

http://arstechnica.com/tech-policy/n...-june-peak.ars

:1orglaugh:1orglaugh

http://realtalkmedia2k.files.wordpre...dle_finger.jpg

Another right-wing libertarian success story

oh, so you mean video cards are going to be in-stock again now?

wow who could have seen this happen?

Where are the bitcoin boys now, lol.

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From $1 to $30?, then it was $5-$8 for a long time then $3-$4 and now $2.5. Buy!

Bitcoin value crashes below cost of production .....

The value of Bitcoins, the "cryptocurrency" that some had thought would take over from more traditional currencies, has plummeted across exchanges – to a level where it costs more to "mine" them than they are worth.

http://www.guardian.co.uk/technology...?newsfeed=true

I dont see the issue, its more volatile then ever so great for speculating and its still the cheapest and quickest form of money transfer yet invented

shake up =)

Only if you can turn it into money which is sort of questionable at the moment.

Bitcoins ... jesus i told what is going to happen!

https://gfy.com/showthread.php?t=1030546

Decent scam.

Congrats to the winners.

About time ...

QFT :thumbsup

If you've been holding them for a while it's an issue. :winkwink:

I have about 9BTC which I never cashed out, because it's somewhat difficult to get AUD without a bunch of fees. Not worth panicking and trying to sell them now, the value will either diminish to near zero, or increase again in time.

If I'd been able to sell my first 1BTC immediately it would have been worth almost as much as my 9BTC now!

Congrats on the 10k :pimp

adapt or die

the great part of bitcoins value collapsing to zero it gives everyone a chance to get in on the ground floor again!

bitcoins for the win!

it's not dead and won't be for a long time if ever, bitcoin = $0 is not going to happen, i would say it's impossible without some major fundamental vulnerability uncovered in its core.

Now is the time to buy large. Sell every asset and then borrow if you have to.

I'd just like to say :1orglaugh

I'm just kidding, if enough people believe in the currency then all will soon be well again, it's not as if the fiat currencies are safe right now

The fools that laugh at this are probably the same that thought internet was a fad.

I have seen many high times with the run of Bitcoin......But who am I, just another fad believer getting mine in a down economy. To those that have learned to make free trade work on many levels, I salute you!:cool-as-a

Wow... a currency based on absolutely nothing is floundering. Shocker

nice analogy bitard.

Lol... do you think a fiat is based on something more than that?

based on belief that it won't go down tomorrow? )))

Bitard....:1orglaugh
Love it or hate it, I have found something that works where every other vehicle has failed. This thing is not me sitting back buying vid cards and fans working in the mine.....this another form trading currency, nothing more, nothing less :thumbsup

OP>I just saw he 10k reference.......hope that the time spent pays you back dividend...and you wasted it on Bitcoin, such a landmark achievement? Oh well I guess we pick are spats! Congrats to your........waste of time? Or your future invested post count, either way we all lose, eventually

Yeah, it is. Its a tangible piece of property, the value of which is based on more than the hopes and dreams of a bunch of anti-social nerds who think they're changing the world.

Money is based on faith. Money is religion, nothing more. It is based on the faith that someone else is willing to accept your 20.00 bill at a 20.00 value. A new phony religion is always going to have a hard time against accepted religions. Just because you believe in your faith, doesn't mean everyone else is going to. Unfortunately, for a new currency, everyone needs to or it fails.

:2 cents:

[QUOTE=TheSquealer;18499964 the value of which is based on more than the hopes and dreams of a bunch of anti-social nerds who think they're changing the world.

Money is based on faith. Money is religion, nothing more.

:2 cents:[/QUOTE]

Really?.....my cash had better have more than that backing it up.

You are missing the point here, tangible item for said amount. Period.....

Personal portfolio heavy on nerd cash huh?

.

Agreed, but with like any religion, there is no guarantees. There is no guarantee that what you can purchase with a 20 bill today you will be able to do with the same bill tomorrow, next year a decade from now... With someone controlling the stream with ability to inflate or deflate currency there are more chances for mistakes to happen or for corruption to occur, all at the expense of faithful bag holders . Why do we need this risk?
Currency independent from everything else only serving purpose of trade exchange and ledger keeper with greatly reduced risk of counterfeiting - pure money =)

one thing i don't get is that most bitards were gold bugs previously and rallied against a currency backed by nothing, but for bitcoin to be backed by nothing is somehow ok now?

Man, you really need to look deeper into this. Free trade AT ITS BEST....or make fun and miss. Either way it wont be any skin off either one of us.

As we concluded above in the thread, any currency is backed by trust and or faith. As long people are willing to trade with it, it exists as a form of money. There is nothing else backing currencies other than people using it. No guaranties that the value you get for a dollar or anything else will be the same in the future (with Bitcoin it maybe possible after most of bitcoins have been produced, the value may start to inflate)

If you are looking for a secure dollar, back your current resident idiot. If you choose to trade in a free market then take a deeper look. Fuckit, either way we xcan all try to make whatever makes the bills, but I believe in something the current admin cannot track or trace and with that, it feels good to not play in their sandbox

http://img854.imageshack.us/img854/8...forsecondp.jpg

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no my point is that since 99% of the bitcoin cult members were goldbugs previously their rationality is suspect.