Category Archives: Bitcoin (BTC)

Is hope loss for Bitcoin price to stay at least in the 200s?

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It appears so, that hope for Bitcoin price to stay at least even in the 200s appears to be lost. At this moment according to Coinbase and other Exchange showing up on bitcoinwisdom, the value or price of Bitcoin is at 230s and keeps falling.

2014 no doubt was Bitcoin was the worst investments. 2015 appears to be heading in the wrong direction, dropped more than 2014. With the price of Bitcoin dropped crashed, due to whatever reason selling is more than buying. Could it be the 19 thousands hacked Bitcoin from Bitstamp? hackers are selling them now?

Some say Bitcoin going up and down is healthy, and I agreed. However Bitcoin isn’t going up or down, it’s going down – one direction, now that’s disturbing. I don’t mean to add another negative blog about Bitcoin, but it seems reality now.

It seems like Bitcoin price above $100 was a bubble. Similar to the .com days IPO stock market sky rocketed, then it crashed down for almost 10 years today and still hasn’t regain back at all. That is with Bitcoin today also. Bitcoin back in 2013-2014 sky rocketed, then start falling toward 2015 and still going down, and chances are it will hit below $100 and stay there just like the stock market bubble.

Free Bitcoin transactions buy sell no commission at bitstamp.net

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That’s right ladies and gentlemen, Bitstamp is up and operational as usual. Just to be funny, “where did you hide the bitcoin” ? 🙂 if they did we wouldn’t know, if they didn’t we wouldn’t know either? Did it really got hacked? we wouldn’t know.

The important thing is this news below. Basically free  Bitcoin trade through January 17th 2015. So maybe Bitstamp recovered all its loss Bitcoin? or maybe it never got hacked? just saying it got hacked as a way of trying popularizing itself perhaps.

COMMISSION-FREE TRADING * As a note of thanks to our loyal customers, all transactions conducted on Bitstamp through the end of the North American Bitcoin Conference — January 17th (at 11:59pm UTC) — will be commission-free.

All cryptocoin value dropped again

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The trend continue to be, up a little, big down, up a little big down. Before you know it, Bitcoin will be back to below $100 a coin.

Currently not just Bitcoin, but the whole Cryptocoin market is down. However Dogecoin is a bit different. Often time than not, when Bitcoin up, Dogecoin maintain it’s value sometime drop a little bit, but when Bitcoin down, Dogecoin most of the time rise. So if this is true, it’s best to sell Dogecoin to get Bitcoin when Bitcoin is down. Then when Bitcoin goes up, cash it into currencies of your choice, not another cryptocoin off  course 🙂

It’s sad to see Bitcoin dropped from $1000 to $300 within 7 months, then now toward $200 in less than a year, doesn’t look like Bitcoin will do well in 2015 either. However knowing that no one can predict the value of bitcoin, just based on the trend between 2014 and today most likely it’s not going up to $1000 again in 2015.

Bitcoin continue to fall and stayed below $300 could be below $100 by end of 2015

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Sad but true. Bitcoin could be falling to below $100 by end of 2015. As we’ve already see the trend of Bitcoin in 2014.

The trend in 2014 for Bitcoin was, up a little, down twice the up, then up a little, then again down twice the up, it kept on repeating. As a result today it’s below $300 from $700 at the beginning of 2014.

So what’s happening based on that trend? My guess is that people are selling to make go down low, then buy it again to make it go up then sell it again, keep on repeating the cycle. These investors are the one that have lots of money to invest to push the price up and down. Bitcoin no longer have long term investors, people whom buy lots of bitcoin one day from one exchange, might be cashing it out the next day from another exchange. Sad for those that believe in Bitcoin going mainstream, and for long term investments as Bitcoin continue to go down deeper toward below $100 by end of 2015.

Bitcoin price plunged due to Exchange got hacked?

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By now, everyone whom invest in Bitcoin or simply monitor Bitcoin activies woudl probably know about Bitstamp got hacked and loss $5 million worth of Bitcoin, 19,000BTC to be exact.

However the price of Bitcoin already plunged even before the hacking mentioned by Bitstamp.

Here come the conspiracy theory. Did Bitstamp really got hacked? How do we know that Bitstamp did this on purpose to get away with 19,000BTC $5 Million cash? Same thing with MtGOX, how do we know that MtGOX really loss all the Bitcoin? How do we know they’re not stealing the Bitcoin themselves and blamed to the hackers?

Bitcoin is technology, those people into Bitcoin especially the security and development are hackers themselves and they couldn’t stop be hacked? So Bitcoin is not secure as Bank? easier to get hack?

Bitstamp Exchange got hacked? January 4th 2015

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Anyone whom had done business with Bitstamp would probably gotten an email indicating problem with Bitstamp. The key information is, if anyone deposit Bitcoin on or after January 5th 2015 will not be honored, meaning your Bitcoin is gone where it’s 0.0001 BTC or 100BTC all gone. However if it’s a large amount, you can probably check with Bitstamp suppose to get it back if possible.

It is official that Bitstamp hot wallet got hacked. Bitstamp had suspended its service on January 5th, 2015 and at this time it’s still down, no ETA. Let just hope Bitstamp hot wallet don’t have a whole lot of Bitcoin in there. Both Coinbase and Bitstamp, and probably many others stored their Bitcoin in a cold wallet, hot wallet would only hold small amount for constant transactions. Meaning your Bitcoin is safe if you deposited a couple days ago, it is in the cold wallet and also guaranteed insured by Bitstamp and Coinbase.

There’s a conspiracy theory going around right now. People are saying that Bitstamp did this on purpose due to the fall of Bitcoin price. Bitstamp might not be making much money on transactions, on top of that Bitcoin value plunged, so with no revenue, no profit, Bitstamp decided to make stories saying they have technical problem, all sounds so familiar like MtGOX? as they will take advantage of this and stole all the bitcoins moved it somewhere else and sell it later. The same conspiracy theory with MtGOX, in which the Police are investigation its staff possible stealing the Bitcoins instead.

BITSTAMP SERVICE TEMPORARILY SUSPENDED

We have reason to believe that one of Bitstamp’s operational wallets was compromised on January 4th, 2015.
As a security precaution against compromises Bitstamp only maintains a small fraction of customer bitcoins in online systems. Bitstamp maintains more than enough offline reserves to cover the compromised bitcoins.
IN THE MEANTIME, PLEASE DO NOT MAKE DEPOSITS TO PREVIOUSLY ISSUED BITCOIN DEPOSIT ADDRESSES. THEY CANNOT BE HONORED!
Customer deposits made prior to January 5th, 2015 9:00 UTC are fully covered by Bitstamp’s reserves. Deposits made to newly issued addresses provided after January 5th, 2015 9:00 UTC can be honored.
Bitstamp takes our security and soundness very seriously. In an excess of caution, we are suspending service as we continue to investigate. We will return to service and amend our security measures as appropriate.
Bitstamp Team

Bitcoin sufferings major crashed to $250 but gaining a little bit

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If anyone is monitoring the Bitcoin price, they will notice the Bitcoin value had dropped significantly within a couple of days, a very bad start for Bitcoin year 2015.

According to Bitcoinwisdom the price of bitcoin plunged to $250 based on one exchange. However today Bitcoin gaining some back but still in the $270.

Checking the news on Bitcoin search on google news “bitcoin” there isn’t any bad news, except for Bitstamp appears to have problem with hotwallet API issue rather. Other than that there isn’t any bad news that could cause Bitcoin to crashed as it did in the last couple of days.

Bitcoin price dropped obviously due to more selling than buying. Today Bitcoin in the positive note probably due to some newer investors got in because of the price dropped good for buying. Could also be temporary in the positive side due to buy and sell day trading.

Now is a good time to buy Bitcoin

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This unexpected major crashed of Bitcoin price would be great opportunity for many that have been waiting for Bitcoin to go back down to $100 to get a bitcoin. At the current price of $270 (USD) might be bottom or yet at the bottom? Good time to buy Bitcoin is now. Who knows by luck within a couple days it will go back up to $300 and you will profit $30 a coin, that’s a lot of money if you have volume.

Bitcoin price went below $280 (usd) right now and keeps on going down why?

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I just want to share a paragraph on the general rule on why Bitcoin price goes down and up. From this website https://www.cryptocoinsnews.com/bitcoin-price-falls-300/

Although this basic principle is not new, but hope it helps others. So knowing this fact, why are people selling Bitcoin yesterday and today, and kept on selling? Who sold it? We know that ESPN sold over $500,000 (USD) of  Bitcoin , yes that will have an impact on Bitcoin, sad thing is nobody is buying. So who else are selling these Bitcoin causing the price to plunged to below $280 now? Could it be those that won the government auction of Bitcoin? Could it be the mtGOX hacker or MtGOX staff themselves emptying their Bitcoin wallet due to the investigation now at MtGOX aim at it own staff members whom might be stealing hiding the bitcoins?

Bitcoin and all cryptocurrencies will crashed in year 2015

Bitcoin and all cryptocurrencies will crashed in year 2015

As CCN observed in September, use drives down price. If everyone wants to buy and nobody wants to sell, the price skyrockets. If more people want to sell, the price goes down. This basic principle of economy applies to everything, including Bitcoin.

Today we have a critical mass of people who use their bitcoins to buy goods and services. We pay merchants in Bitcoin, and sometimes they use bitcoins to pay their suppliers, but at some point in the chain somebody will convert the bitcoins to fiat currency, and that will pull the value of Bitcoin down.

Dogecoin surviving the gruesome Bitcoin price crashed to $280s usd

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Just in case anyone wonder. Yes it is true. Most of the time when Bitcoin go down, Dogecoin goes up. When Bitcoin goes up, sometime Dogecoin goes down, but not always, sometime it goes up with Bitcoin. More often than not, Dogecoin goes up when Bitcoin goes down though.

Why? My guess is that, there are a lot of Dogecoin out there. These are the people whom held on to their dogecoin waiting for the right moment to convert to Bitcoin. When Bitcoin price dropped, people whom are holding on to Dogecoin sells their dogecoin to convert to BTC, as they will have more BTC in their possession. Holding holding BTC yield better advantage on cashing out to hard cash, easier that is, because today not too many exchange have direct Dogecoin to USD or cash.