Re: Latest "China" *announcement* carefull "FUD"...& coindesk continued it??
As much as techology is a blessing, it's also a bitch.
Just like the news media. Everyone wants to be first to break a story, so rather than gain credible information, they just blindly throwing it up as fact, and as soon as that happens, it's all over twitter, facebook, whatever. And people, rather than thinking for themselves and verifying information, believe that because a website posted it, it HAS to be true so they turn around and keep spreading mis-information.
As great as there is no centralization or "rule book", it also sucks because one small baseless rumor can spread like wildfire and panic ensues.
Was kinda hoping Asia would have woken up this morning and seen the results of the fire sales and started buying up quickly. But who knows. Probably half of the people over there woke up, saw the huge dip and immediately went and started selling as well.
Oh the vicious cycle.
Either way, glad I was able to scoop up a few other ALT coins at a low price today to add to my portfolio. Maybe now these wannabe get-rich-quick folks will stay out of the damn game and let the true believers take back control.
Just like the news media. Everyone wants to be first to break a story, so rather than gain credible information, they just blindly throwing it up as fact, and as soon as that happens, it's all over twitter, facebook, whatever. And people, rather than thinking for themselves and verifying information, believe that because a website posted it, it HAS to be true so they turn around and keep spreading mis-information.
As great as there is no centralization or "rule book", it also sucks because one small baseless rumor can spread like wildfire and panic ensues.
Was kinda hoping Asia would have woken up this morning and seen the results of the fire sales and started buying up quickly. But who knows. Probably half of the people over there woke up, saw the huge dip and immediately went and started selling as well.
Oh the vicious cycle.
Either way, glad I was able to scoop up a few other ALT coins at a low price today to add to my portfolio. Maybe now these wannabe get-rich-quick folks will stay out of the damn game and let the true believers take back control.
In my opinion it's a good thing that a small baseless rumor can cause panic amongst all the uninformed people for a short while... gives us the chance to buy up some cheap bitcoins. I'll wait maybe another day or two to make sure the price doesn't drop anymore, then I'll pick up some coins for a 20-30% discount. Since the rumor probably won't follow through, the price will hopefully climb back up to 1000USD before long
