Bitcoin Value Has Dropped 40 Percent In 2015

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It looks as though that recent bitcoin heist has everyone spooked. :eek:

After $5 million worth of Bitcoin was stolen from exchange giant Bitstamp last week, the price of the popular, anonymous, and sometimes unpredictable cash dipped below USD $300. As of this afternoon, Bitcoin's price now sits at roughly $180 -- up from the day's low of $170.08, and down from the opening price of $226.94. That's a 20 percent price drop in one day of trading.
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Hmm, been or of the loop for a while.

Curious, anyone have the overall fibs graphed out since Bitcoin came to market?
 
they keep getting stolen and there is no way to trace or stop it. not surprised everyone is starting to run away from them.
 
So is this as low as it goes? Or is the bottom going to drop out completely?
 
They have been on a clear downward trend for over a year strait now.
 
Exavior said:
they keep getting stolen and there is no way to trace or stop it. not surprised everyone is starting to run away from them.
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Actually bitcoin is way more traceable than the US dollar. With the bitcoin block explorer you can easily follow the transaction which this can't be said for cash. The issue is when people steal the bitcoins and then try washing it through bitcoin gambling sites and such. This is no different then when people wash stolen cash or illegitimate cash which makes laundering money easier.

The price will fluctuate significantly as Bitcoin still to this day is still in it's infancy. It will take a decade for bitcoin to even remotely stabilize. The ability for someone to send something that has a perceived value across the world with little to no fee and at your finger tips is amazing. No more dealing with 3rd parties charging fees and such. There's a reason why Paypal is implementing Bitcoin and getting involved, as they see the writing on the walls.
 
Anonymous kind of loses it luster when it's your funds that disappear without a trace.

Say what you will about the more archaic forms of money transfer, but at the end of the day, a stolen lump of gold is still a lump of gold... in and of itself, it has a value to a number of industries. A bitcoin is this amorphous currency/equity/network/whatever... that even the most avid miners and investors can't effectively describe. I'll admit that it is intriguing, but so were laser discs, and I don't have a safe full of those either.

Commence luddite condemnations in 3, 2, 1...
 
JJ91284 said:
Actually bitcoin is way more traceable than the US dollar. With the bitcoin block explorer you can easily follow the transaction which this can't be said for cash. The issue is when people steal the bitcoins and then try washing it through bitcoin gambling sites and such. This is no different then when people wash stolen cash or illegitimate cash which makes laundering money easier.

The price will fluctuate significantly as Bitcoin still to this day is still in it's infancy. It will take a decade for bitcoin to even remotely stabilize. The ability for someone to send something that has a perceived value across the world with little to no fee and at your finger tips is amazing. No more dealing with 3rd parties charging fees and such. There's a reason why Paypal is implementing Bitcoin and getting involved, as they see the writing on the walls.
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With the theft and the inherent insecurity of it, it will cause a fiat currency like this to lose all it's value.
 
JJ91284 said:
Actually bitcoin is way more traceable than the US dollar. With the bitcoin block explorer you can easily follow the transaction which this can't be said for cash. The issue is when people steal the bitcoins and then try washing it through bitcoin gambling sites and such. This is no different then when people wash stolen cash or illegitimate cash which makes laundering money easier.

The price will fluctuate significantly as Bitcoin still to this day is still in it's infancy. It will take a decade for bitcoin to even remotely stabilize. The ability for someone to send something that has a perceived value across the world with little to no fee and at your finger tips is amazing. No more dealing with 3rd parties charging fees and such. There's a reason why Paypal is implementing Bitcoin and getting involved, as they see the writing on the walls.
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Its validity and utility is almost a seperate issue from the fact its valuation is in a huge bubble.
 
spugm1r3 said:
Anonymous kind of loses it luster when it's your funds that disappear without a trace.

Say what you will about the more archaic forms of money transfer, but at the end of the day, a stolen lump of gold is still a lump of gold... in and of itself, it has a value to a number of industries. A bitcoin is this amorphous currency/equity/network/whatever... that even the most avid miners and investors can't effectively describe. I'll admit that it is intriguing, but so were laser discs, and I don't have a safe full of those either.

Commence luddite condemnations in 3, 2, 1...
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There's no doubt that having something actual in your hand like gold or silver will never truly lose all value. Sure they'll be price swings depending on what the commodity is worth. The US dollar isn't backed by anything really today besides the faith in the system and that it will continue to run. I'd argue this same point with Bitcoin.

Unfortunately I lost out on my mtgox funds and while it sucks, I understand that this isn't Bitcoin's fault but the fault of the exchange security. In due time they'll eventually be a much stronger exchange and a more robust infrastructure that will prevent crazy price swings. I know Patrick Byrne CEO of overstock.com has hired coders to do just this and build a new bitcoin exchange.
 
jpm100 said:
Its validity and utility is almost a seperate issue from the fact its valuation is in a huge bubble.
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Let me add to that a bit. In the reverse sense, the fact its subject to speculation bubbles and does not hold a stable value makes it a poor choice as a currency.
 
Its rebounded some to $206

Its just like anything else that's an investment, sometimes you loose and sometimes you win.
 
JPF_ said:
Is currency not an investment?

Forex trading......anything that has value can be an investment.
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Uuuummm you invest currency in something else like stocks of a company not the supposed magical currency itself. :rolleyes:

You are either talking about interest rate or the value of said magical digits go up....
 
For investors to be interested value has to go up and down. It would be a financial miracle if bitcoins could stay stable verses every other currency.

sfsuphysics said:
and it's still overvalued by 100%
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Then you can short some to make money, good deal.
 
pcjunkie said:
Uuuummm you invest currency in something else like stocks of a company not the supposed magical currency itself. :rolleyes:

You are either talking about interest rate or the value of said magical digits go up....
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You have no clue about the currency market do you?
 
pcjunkie said:
Investment in what? Its supposed to be a currency is it not?
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A deflationary currency.

An investor believes the demand will eventually far outpace the supply, forcing the price up.

Picture a school lunch room full of hungry kids and only 3 cupcakes.
 
JJ91284 said:
There's no doubt that having something actual in your hand like gold or silver will never truly lose all value. Sure they'll be price swings depending on what the commodity is worth. The US dollar isn't backed by anything really today besides the faith in the system and that it will continue to run. I'd argue this same point with Bitcoin.

Unfortunately I lost out on my mtgox funds and while it sucks, I understand that this isn't Bitcoin's fault but the fault of the exchange security. In due time they'll eventually be a much stronger exchange and a more robust infrastructure that will prevent crazy price swings. I know Patrick Byrne CEO of overstock.com has hired coders to do just this and build a new bitcoin exchange.
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Currency is backed by faith in government, and our government swings a big stick which is why the dollar is stable.

Bitcoin is backed by number of hours leaving a computer to grind. How much electricity does it cost nowadays to generate 1 bitcoin and that's how much they're intrinsically worth.
 
pcjunkie said:
Uuuummm you invest currency in something else like stocks of a company not the supposed magical currency itself. :rolleyes:

You are either talking about interest rate or the value of said magical digits go up....
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Currency has value like everything else. As such, you can invest in it.


Say that the American dollar is high, and really worth $1.08 total. And say on that same day the Euro is at $.90. Then what you would do is buy into Euro's with your high American dollar. Then when you see the Euro is gaining value and is worth $1.10, you sell for profit.

Everything........everything has a value to someone(s). Therefore everything.......everything is an investment.


Anyone who hates or has negative things to say about Bitcoin or Dogecoin is just people who didnt believe it would go anywhere at all, and never mined and never bought. Now they are mad because people are buying Lambo's, houses, and retiring off it.

Is it the safest? No. Show me an investment that is safe.........
 
dr/owned said:
Bitcoin is backed by number of hours leaving a computer to grind.
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shaking_head_breaking_bad.gif
 
JPF_ said:
Anyone who hates or has negative things to say about Bitcoin or Dogecoin is just people who didnt believe it would go anywhere at all, and never mined and never bought. Now they are mad because people are buying Lambo's, houses, and retiring off it.
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2013 called, you're sucking down their reserves of crypto-currency hype. The only people who made any real money were people who lucked out and started mining in and before 2012. Now most people are lucky if they recover their capital investment.
 
JPF_ said:
Currency has value like everything else. As such, you can invest in it.


Say that the American dollar is high, and really worth $1.08 total. And say on that same day the Euro is at $.90. Then what you would do is buy into Euro's with your high American dollar. Then when you see the Euro is gaining value and is worth $1.10, you sell for profit.

Everything........everything has a value to someone(s). Therefore everything.......everything is an investment.


Anyone who hates or has negative things to say about Bitcoin or Dogecoin is just people who didnt believe it would go anywhere at all, and never mined and never bought. Now they are mad because people are buying Lambo's, houses, and retiring off it.

Is it the safest? No. Show me an investment that is safe.........
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LOL...lambo's and houses...I've asked repeatedly to show me all these bitcoin millionaires yet nobody has produced even one? If you do find one more than likely he is a crook.

My main point is that nobody knows what the hell bitcoins should be, an investment or a currency? That is just one of the many issues with them.

Blue chip stocks and or money CD's are pretty safe. There are plenty of safe(r) investments. Bitcoins are not safe and never will be.
 
dr/owned said:
2013 called, you're sucking down their reserves of crypto-currency hype. The only people who made any real money were people who lucked out and started mining in and before 2012. Now most people are lucky if they recover their capital investment.
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You have me mistaken......


I never invested or mined. Also, the investors of bitcoin minus the crooks made a lot.

People still use it for its main purpose.....to buy things.

Are you people seriously so narrow minded to understand there is no difference between crypto currency and the few bucks in your pocket?


You think because there are crooks that somehow bitcoin is flawed? So you're saying every currency in the world is never counterfeited, extorted, or stolen? Banks never get robbed?


I am not saying crypto is better than physical.....I am just saying you people need to really open your mind to possibilities. Sometimes I worry about the opinions some of you have on this technology forum......
 
pcjunkie said:
LOL...lambo's and houses...I've asked repeatedly to show me all these bitcoin millionaires yet nobody has produced even one? If you do find one more than likely he is a crook.

My main point is that nobody knows what the hell bitcoins should be, an investment or a currency? That is just one of the many issues with them.

Blue chip stocks and or money CD's are pretty safe. There are plenty of safe(r) investments. Bitcoins are not safe and never will be.
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yes, because I want to be your paper boy and fetch all of your daily news, just google it


You must be joking!!!! You mean to tell me where there's a benefit there is also a chance for a criminal underground?! NO WAI OMG!!!

Who would have thought that people would try to scam money from others......this is such a new thing now with Bitcoin, this never happens with government based money......

I am surprised no one robs banks, people, and other facilities that carry large sums of money.
 
pcjunkie said:
My main point is that nobody knows what the hell bitcoins should be, an investment or a currency? That is just one of the many issues with them.
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Was the cupcake analogy seriously too complicated for you?

pcjunkie said:
Blue chip stocks and or money CD's are pretty safe. There are plenty of safe(r) investments. Bitcoins are not safe and never will be.
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(Bitstamp prices)
Low: January 14: $152
High: January 15: $233
Price change +53%
 
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