Bitcoin breaks $200

[SHGDigitalMedia]

Oh noes the bubble popped and bitcoins are worthless! Everyone was right.


Oh wait

You have no idea how financial bubbles work do you. When a bubble pops , it takes years before prices bottom out, when the tech bubble popped it took two years for prices to find a bottom. For housing it was 6 years, neither one has returned to its old prices. 12 years after the NASDAQ peaked and the market is still 30% below its peak high.

 

[SHGDigitalMedia]

New York City Bar Accepting Bitcoins as Payment

Just going to leave this here.

Reminds me of the tech bubble when office owners were taking equity in startups in exchange for office space. Everyone wants something that is going parabolic

 

[SHGDigitalMedia]

Down to $118 already, wouldn't be surprised if it ended up under $100 today

 

[Lexicon]

Don't worry bros. There's always: https://satoshicircle.com

up 400% today.

 

[yast]

106 now, testing support line again,massive orders cumulated around 100.
If it goes through, we may see 30-50$ range.

 

[blureach]

You guys ever heard of penny stocks? I heard you can make a killing on those too

 

[dreamache]

$79.00 at preev.com

 

[cpauser]

bitcoins charts lagging, mtgox lagging, price falling..same ol' shit again'
down a cool $3k assuming price doesn't fall anymore

 

[JoseArmando]

Mtgox just in:

Trading is halted until 2013-04-12 02:00am UTC to allow the market to cooldown following the drop in price. Read more details on the support. Additionally trading fees will not be charged within 48 hours of trading resuming (until 2013-04-14 02:00am UTC).

 

[cpauser]

oh nevermind..mtgox ihas been down for over an hour.so it's more than 3k
probably looking at 5k

 

[SHGDigitalMedia]

Mtgox just in:

Trading is halted until 2013-04-12 02:00am UTC to allow the market to cooldown following the drop in price. Read more details on the support. Additionally trading fees will not be charged within 48 hours of trading resuming (until 2013-04-14 02:00am UTC).

Sounds like something the fed would do if the dollar collapsing

 

[SHGDigitalMedia]

oh nevermind..mtgox ihas been down for over an hour.so it's more than 3k
probably looking at 5k

Sorry dude, must be pretty painful to watch your wealth disappear

 

[DreFromThaBay]

Sooooo happy I sold last night. The shit with mtgox is a fucking joke.

 

[r3p1v]

They are halting trading for over 12 hours? wow

 

[blureach]

Sounds like something the fed would do if the dollar collapsing

I can't imagine this will make things any better. The second they open back up, people will be racing to sell making an even steeper plunge. People will be F5ing the shit out of the system to initiate the first sell orders.

 

[swiftmoney]

Mtgox just in:

Trading is halted until 2013-04-12 02:00am UTC to allow the market to cooldown following the drop in price. Read more details on the support. Additionally trading fees will not be charged within 48 hours of trading resuming (until 2013-04-14 02:00am UTC).

Great stuff. There is nothing that would make me want to get my money out more. The whole thing is just so corrupt.

 

[schockergd]

FYI BTC market cap is now under $1b with MTG suspending trades and BTCE and Bitcoin-24 both trading well under $100.

 

[SHGDigitalMedia]

I can't imagine this will make things any better. The second they open back up, people will be racing to sell making an even steeper plunge. People will be F5ing the shit out of the system to initiate the first sell orders.

I agree, people want out and putting up walls will only delay the inevitable. It wouldn't surprise me to see bitcoins fall to $5 or less

Added

From a market perspective, they are halting trading because they can't find any buyers, they don't want to be holding bitcoins no one wants to own. Because there is no buyer of last resorts

 

[ShadowCaster]

oh nevermind..mtgox ihas been down for over an hour.so it's more than 3k
probably looking at 5k

Should've invested more in Instagram accounts instead.

 

[MadMaxNine]