BTC and LTC price crashing, MtGox news being blamed?
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BTC and LTC price crashing, MtGox news being blamed?
mtgox now requires verification for fiat currency exchanges
https://mtgox.com/press_release_20130530.html
http://www.coindesk.com/mt-gox-bans-anonymous-currency-deals/3 days later BTC and LTC prices start to crash?
i was told the delay was due to “trading accumulation distribution”
http://www.investopedia.com/terms/a/accumulationdistribution.aspi think this means that most trading is being done by bots using computer models
any thoughts? i have a hunch this will bring FTC prices closer as it isn’t likely to be effected by this event
[img]http://fobot.com/images/btcchart1.PNG[/img]
[img]http://fobot.com/images/ltcchart1.PNG[/img] -
one website controls an entire industry and instead of trying to fix that, very large, problem, people are pumping out altcoins over and over.
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[quote name=“randomdef” post=“8873” timestamp=“1370192498”]
one website controls an entire industry and instead of trying to fix that, very large, problem, people are pumping out altcoins over and over.
[/quote]I started with Linux in the mid 90s (showing my age) and we literally had new versions popping out left and right. The market eventually weeded out the winners from the losers. There’s still quite a few versions out there, but few that are able to generate any type of revenue on a support base model.
The point is, we can’t control market conditions. We can’t tell some of the guys over Bitcointalk to stop generating yet another coin and expect it to change anything. We keep building a support infrastructure we believe in, remind ourselves that most people in life will focus on what they don’t want than what do they can change and find ways to add value to our coin.
As for Gox controlling the industry, when VCs decide it’s profitable to invest in a competitor, we’ll see things shift.
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Side note - I wish BTC-e would trade FTC to USD. I think that would help a lot. :P
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Gox controls the industry only because they were able to convert an already existing exchange and because people chase brand names.
The only way to fix this is to create a kind of peer to peer ebay which is what peermarket.net hopefully will be.
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[quote name=“zythen” post=“8886” timestamp=“1370200869”]
Side note - I wish BTC-e would trade FTC to USD. I think that would help a lot. :P
[/quote]No Joke
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[quote name=“f3atherl1t” post=“16886” timestamp=“1371856121”]
[quote author=zythen link=topic=1137.msg8886#msg8886 date=1370200869]
Side note - I wish BTC-e would trade FTC to USD. I think that would help a lot. :P
[/quote]No Joke
[/quote] nice bump mate xD
