Quote from: tclo on July 05, 2013, 07:02:51 PM

Quote from: DannyHamilton on July 05, 2013, 06:41:26 PM

Quote from: coinprize on July 05, 2013, 06:34:31 PM

BTC $66, seems everyone is dumping?
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Nah. Not everyone is dumping. Every single one of those trades where someone is selling has someone on the other side of the trade that is buying. There are as many people taking advantage of this drop in exchange rate to purchase cheap coins as there are people panicking and dumping what they own.

This is funny. So when bitcoin is at $1 and this is happening (someone is selling and someone is buying) you will still say that all is well?

Of course. Because it would still be true.

Quote from: tclo on July 05, 2013, 07:02:51 PM

The point is not that no one is buying bitcoin, it's that it's value is rapidly falling.

If that was the point, then instead of saying "seems everyone is dumping?", it would have made more sense to say "seems the exchange rate is dropping?" (exchange rate and value are not always the same thing).

Obviously it is falling rapidly. But "everyone" isn't "dumping". There are as many people "shoveling in" what they feel are cheap bitcoins as there are people "dumping" what they feel are over-priced bitcoins. The fact that *you* feel they are over priced, and that many others feel the same shouldn't blind you to the fact that there are still many buyers.