burst
WTF just happened!?! Bitcoins lose all value, drop to a penny.
Buttcoin bubble, burst, crash, drop, hack, one, penny, pop 2 Comments
I’m not sure what happened today, but Bitcoins briefly lost all value, dropping from $18 to $.01 nearly instantly.
The price shot back up alost instantly (and Mt. Gox had crashed so no one could put in buy orders ar <$1), but not before the bitcoin guys also proceeded to freak the fuck out.
It’s also worthy to note how much power Mt. Gox has over the entire market, a large sell over literally destroys the entire economy.
Bitcoin update 6/17/11 – We’re taking on water (weekend crash)!
Buttcoin bubble, burst, crash, dump, friday, saturday, sunday, weekend 2 Comments
It’s the weekend, and what does that mean? Bitcoin’s value it tanking.
Bitcoin has lost 45% of it’s value in the last 2 days going from an average of $20 down to a current price of $13. Another rollercoaster ride. Could be the market crashing like I predicted before, but I get ridculed everytime I predict the bubble bursting so maybe I won’t try and call it beforehand.
But there’s an interesting phenomenon going on. Let’s look at another graph.
This is a 2 month graph with the notations of the weekend. In the last 2 months, 7 out of the 9 weekends have resulted in the sell-off and a loss of bitcoin value. I’m not sure why this is happening, but the last 3 dramatic drops have been over the weekends. This upcoming weekend seems to be following the same trend.
We’ll see come Monday.
Today’s buttcoin action summed up in one .gif
Buttcoin bitcoin, bubble, burst, bust, buttcoin, crash, fail, terrible 1 Comment
The buttcoin crash begins
Buttcoin bitcoin, bubble, burst, bust, buttcoin, crash, fail, market, panic, selloff 4 Comments
Someone look at my post yesterday and tell me I wasn’t right on the fucking money with where in the bubble we were.
Someone decides they want to be an internet million, sells off 135k of bitcoins, becoming a millionaire off the backs of broke nerds.
What happens when you place a sell order that large in a market that volitile? It drops like a fucking rock.
Woah, nelly. And it seems to be dropping and dropping more and more every minute.
The currency of the future!
BTW Mt. Gox stands for “Magic the Gathering online exchange”. That is the larget bitcoin marketplace, a discarded MtG site.
A moment of clarity in the bitcoin community
Buttcoin bitcoin, bubble, burst, crash, fall, gold, oil, rise, speculators, tire iron 1 Comment
Bitcoin forums user kiwiasian realizes that burning electricity to create Monopoly Dollars out of thin air maybe isn’t the best investment.
Seems like a good argument, not sure how you could argue with data like that. An extremely volitile “currency” that rises could just as easily fall, right?
Erm, I’m not sure you’re helping your case here. Luckily kiwiasian helpfully points this out.
Maybe The Koolio could re-evaluate his position now?
Wait, gold hasn’t crashed (it did, in the 80’s)? Oil hasn’t crashed (it did, also in the 80’s)? And what’s with the “global population” argument, that’s the exact thing that ponzi schemes like to blather on about. Luckily the irony isn’t lost on kiwiasian.
Well, when you can’t argue with facts, what do you do? Hopefully they accept his reasoning and move on?
Nope! You just confuse the shit out of everyone until something sounds right.
Well, you see, the price jumped from $1 to $2 (in a few months), a 100% increase! So naturally going from $15 to $30 (in 2 days) is another, natural, 100% increase! No volatility here my friend!
Now, he never did mention why it wouldn’t crash. Luckily billyjoeallen has a great breakdown on the strength of the buttcoin market.
You hear that? NO natural predators, like the mighty Lion in the Serengeti! Of course, the World Economy will crash (and probably have no computer networks or electricity) but I’ll be here with my Buttcoin wallet, sitting pretty.
I’ll finish off with this nutjob trying to compare buttcoin’s bubble to global warming.
Wow.