Bitcoins are officially donkdown

[snake_in_the_ass]

I think they hit $10,000 before they ultimately go to $0. Micon ain't selling.

[Crowe Diddly]

i understand the graphics error, but it wasn't even six o'clock anywhere in the US yet, which, unless I'm fuckin retarded, is the country that CNBC broadcasts from/in. Not to mention the price was hundreds of dollars higher at that point already anyway. My guess is they used GMT, but that really confuses the issue when you don't bother to mention it. You may as well give the price in units without mentioning what the currency is.

I am assuming your Twitter settings are jacked.

That isn't CNBC's fault, it is something in your Twitter app.

I don't understand how you think this could be on my end. That's a browser shot, not an app. They tweeted that above pic at the time I circled on the screenshot, and I posted it here like 20 minutes after they tweeted it, which was at 6:07 EST, according to the edit notation on my post.

for the record, I like to think that I put a good bit more care and thought into my output than CNBC does, going by much of their programming. They put Jim Cramer on TV, for christ's sake. I'd never do something so silly and irresponsible.

[Crowe Diddly]

I think they hit $10,000 before they ultimately go to $0. Micon ain't selling.

ultimately, every currency goes to zero.

[NaturalBornHustler]

Crowe.....it was 5:48 and they showed a graph up to 6pm. I don't see what the big deal is.

Where is a good place to go to find the exact trading price anyway? I googled earlier and briefly looked but couldn't find much.

[Crowe Diddly]

Crowe.....it was 5:48 and they showed a graph up to 6pm. I don't see what the big deal is.

the prices for the given times were incorrect, which makes the entire thing incorrect. At best, they were off by 4-5 hours.

[abrown83]

I am assuming your Twitter settings are jacked.

That isn't CNBC's fault, it is something in your Twitter app.

I don't understand how you think this could be on my end. That's a browser shot, not an app. They tweeted that above pic at the time I circled on the screenshot, and I posted it here like 20 minutes after they tweeted it, which was at 6:07 EST, according to the edit notation on my post.

for the record, I like to think that I put a good bit more care and thought into my output than CNBC does, going by much of their programming. They put Jim Cramer on TV, for christ's sake. I'd never do something so silly and irresponsible.

My fault I had it backwards.

Mt.Gox displays everything in GMT, CNBC took a screen shot from the Mt.Gox website which is why the times are all messed up.

[Crowe Diddly]

I don't understand how you think this could be on my end. That's a browser shot, not an app. They tweeted that above pic at the time I circled on the screenshot, and I posted it here like 20 minutes after they tweeted it, which was at 6:07 EST, according to the edit notation on my post.

for the record, I like to think that I put a good bit more care and thought into my output than CNBC does, going by much of their programming. They put Jim Cramer on TV, for christ's sake. I'd never do something so silly and irresponsible.

My fault I had it backwards.

Mt.Gox displays everything in GMT, CNBC took a screen shot from the Mt.Gox website which is why the times are all messed up.

yup. and by the time they posted the graph, it had already already gained back most of the day's $300 drop. So it was pretty much useless and misleading by the time they tweeted it.

[abrown83]

My fault I had it backwards.

Mt.Gox displays everything in GMT, CNBC took a screen shot from the Mt.Gox website which is why the times are all messed up.

yup. and by the time they posted the graph, it had already already gained back most of the day's $300 drop. So it was pretty much useless and misleading by the time they tweeted it.

Color me shocked that a news organization might want to sensationalize the news.

We are now back to status quo in the life-cycle of Bitcoin. I am guessing we see fear within the week.

Hoping to get in at around 50-100.

[NaturalBornHustler]

Jesus Christ what the hell is the price right now?? Anyone?

[Crowe Diddly]

Jesus Christ what the hell is the price right now?? Anyone?

• Last:$1,061.10001
• High:$1,185.00000
• Low:$840.32000
• Vol:85410 BTC
• W.Avg:$1,035.85484

https://www.mtgox.com/

[Daly]

I think they hit $10,000 before they ultimately go to $0. Micon ain't selling.

ultimately, every currency goes to zero.

Every Fiat Currency does anyway. Every currency backed by nothing goes to zero, its just a matter of time.

Every currency backed by something else is always worth what something else is worth. For as long as humans have had an economic system (assuming gold was around in the battering days) we have always valued gold. Seeing as you can't just conjure Bitcoins out of thin air and they have a cost associated with them I suspect they will always have some value.

If/when things get out of hand with our currency one morning we will all wake up and the Government will take the total $$ in circulation and divide it by the total gold holdings of the USA and establish a new gold price and call the currency "backed by gold". I'm actually scared this will happen in Japan at some point in the next few years.

[vegas1369]

yup. and by the time they posted the graph, it had already already gained back most of the day's $300 drop. So it was pretty much useless and misleading by the time they tweeted it.

Color me shocked that a news organization might want to sensationalize the news.

We are now back to status quo in the life-cycle of Bitcoin. I am guessing we see fear within the week.

Hoping to get in at around 50-100.

Is this the way most people see it going? Maybe not down that low, but in the near future south of $300?

Really want to jump in on this too. Feeling very foolish for not at least risking a little bit in the beginning.

[Sanlmar]

Went to $1073, now is at $986.

Your prediction might be right, but it's a bit early to tell.

Trading $1180.

Let's short it here. You in, Druff?

[Sanlmar]

So does the coin hit $1500 before the crash or not? The thing can't continually go up 50%+ every week so I wonder when it crashes how fast it will drop?

I'm calling a correction here. This is my first short on this. No, I do not see $1500 before some work is done. Gotta retrace a bit and find a base.

The rise is just unsustainable. We all think that. But I love the press jumping on the $1000 news. That was the plan. Overshoot target to squeeze the folks who shorted at the magic $1000. Touched $1250 and those folks covered their loss. Now it corrects.

I think risk to upside is far less than likelihood it breaks $1000. My target $850.

We'll see.

I'm taking a victory lap here. Shorted 10 BTC @ $1180 thru Bitfinex @ ridiculous interest. Covered 5 @ $952. Gonna let the rest run with a buy stop at $1300 for now.

[NaturalBornHustler]

I know one thing the media is now on the Bitcoin story full steam ahead. I am seeing at least 10 articles about it everyday on twitter, major outlets all over it. That probably isn't a good thing.

Last one talking about if government is going to tax gains being a currency or commodity. The government never misses an opportunity to take "their share" of...everything so I am going to say yes on taxing it. They will find a way.

[monsterj]

I'm calling a correction here. This is my first short on this. No, I do not see $1500 before some work is done. Gotta retrace a bit and find a base.

The rise is just unsustainable. We all think that. But I love the press jumping on the $1000 news. That was the plan. Overshoot target to squeeze the folks who shorted at the magic $1000. Touched $1250 and those folks covered their loss. Now it corrects.

I think risk to upside is far less than likelihood it breaks $1000. My target $850.

We'll see.

I'm taking a victory lap here. Shorted 10 BTC @ $1180 thru Bitfinex @ ridiculous interest. Covered 5 @ $952. Gonna let the rest run with a buy stop at $1300 for now.

what is margin requirements to naked short?(or what are the requirements to market make?)

[TheXFactor]

The first Bitcoin miner has one million Bitcoins that is worth about $1 Billion, his name is not Bryan Micon.

[DirtyB]

The first Bitcoin miner has one million Bitcoins that is worth about $1 Billion, his name is not Bryan Micon.

Satoshi? I was under the impression that none of his bitcoin have ever been spent.

[garrett]

The first Bitcoin miner has one million Bitcoins that is worth about $1 Billion, his name is not Bryan Micon.

Satoshi? I was under the impression that none of his bitcoin have ever been spent.

Harvard?

[TheXFactor]

The first Bitcoin miner has one million Bitcoins that is worth about $1 Billion, his name is not Bryan Micon.

Satoshi? I was under the impression that none of his bitcoin have ever been spent.

Satoshi Nakamoto, is that even his real name?

Gold vs Bitcoin
(November 2012 - November 2013)

Gold is down 28%.
Bitcoin is up 8,451%.

Impressive considering that gold has outperformed the S&P 500 (the biggest public companies) for the past 20 years