Wow, my guess is if this keeps up it will destabilize this entire market as it will make all these online currencies suspect

and Look at the wild price swings, good lordy, I think ill stick to plastic. Good idea in concept but if I lost hundreds…thousands…

It was like any stock market. It is all about being smart and knowing when to get out. Some people made a killing, while others will lose everything.

It was like any stock market. It is all about being smart and knowing when to get out. Some people made a killing, while others will lose everything.

This has nothing to do with stock. A company simply disappeared with peoples bitcoins which caused a drop. Theres is a diffrence of risk vs theft.

I meant to compare it with the up and down swings. Also what the hell did people expect with this internet currency? There is nothing in place to stop a company from doing that. I won’t be surprised if bitcoins fall apart.

Where’s AXA?

MtGox exchange has been in trouble for many months, anyone that follows bitcoin had plenty of warning to get their funds out of Gox before the shit hit the fan. Bitcoin is not the stock market, there are no circuit breakers in place to stop swings in price if bad news hits the net.

With Gox gone bitcoin can breathe more freely now and I expect price to be comparable with gold within a year. I picked up some cheap coins this past weekend. Right now price is back up to $570, I would not be surprised if we see a retest of this past weekend’s lows. Price might get back under $500 briefly before taking off again.

There are no other crooked exchanges I am aware of and the bitcoin protocol remains solid. Lot of positive news about bitcoin with more businesses accepting every day.

Don’t waste your time reading crap put out by the general media. If you want the real skinny on bitcoin news here are the good sites:

http://www.coindesk.com/

http://www.cryptocoinsnews.com/

http://www.bit-sky.com/index.php/english

http://fiatleak.com/

I have been trying to follow the trends, and from what I gather now could potentially be a good time to buy in, seeing as the panic has set in and people are dumping the coins they do have. Sounds stupid I know, but its really no different from trading in money futures and currency,  theres just no bank that insurances you from a crooked company. From what I have noticed, the currancy is fluctuating so much because of the silk road bust and then mt gox shutting down and fears that somehow the government is going to step in or something like that, but short of setting up a hawala system theres simply no better way to move underground currency.  I would love to get in on this, but with no extra money its a bad idea to invest in something so volatile.  For now ill stick with the dow

MtGox exchange has been in trouble for many months, anyone that follows bitcoin had plenty of warning to get their funds out of Gox before the shit hit the fan. Bitcoin is not the stock market, there are no circuit breakers in place to stop swings in price if bad news hits the net.

With Gox gone bitcoin can breathe more freely now and I expect price to be comparable with gold within a year. I picked up some cheap coins this past weekend. Right now price is back up to $570, I would not be surprised if we see a retest of this past weekend’s lows. Price might get back under $500 briefly before taking off again.

There are no other crooked exchanges I am aware of and the bitcoin protocol remains solid. Lot of positive news about bitcoin with more businesses accepting every day.

Don’t waste your time reading crap put out by the general media. If you want the real skinny on bitcoin news here are the good sites:

http://www.coindesk.com/

http://www.cryptocoinsnews.com/

http://www.bit-sky.com/index.php/english

http://fiatleak.com/

Awesome reading, Thank You Axa.