Nosedive! Bitcoin Plummets (Then Rebounds) | dinbits


It could very well be due to "the Fork", but one thing is for certain Bitcoin is dropping like a lead anvil through wet toilet paper!

Especially when people are writing articles like this (on Vox) claiming all hell is about to break loose and not bothering to mention clearly that nothing is happening anytime soon.

On thumbing through this article, one of the first things you notice in big bold letters is

"HAVING TWO COMPETING VERSIONS OF THE BITCOIN NETWORK RUNNING SIMULTANEOUSLY WOULD BE CATASTROPHIC"

Which is a bit irresponsible. I had a feeling someone was going to release something like this and cause mass hysteria. Most of the articles thus far were cautionary, but not blatantly malicious.

The good news is that once things calm down, some folks are going to end up with a nice profit because they are going to be buying now, and selling next week.

[Update 8.19.2015] 

As predicted, there's been a recovery, but not in full. Not yet anyway, I did say next week. Part of the problem was Bitfinex, and a malfunction of a portion of their platform.



Post a Comment

  1. If you are searching for the ultimate bitcoin exchange company, then you should know YoBit.

    ReplyDelete

Powered by Blogger.