Anyone pick up on this article from the BBC? http://www.bbc.co.uk/news/technology-25428866 Anyone caught up in this?
Me a bit. Loads of others too. Bitcoin heavily influences the value of all alt-coins, so they are having pretty much the same issue. http://coinmarketcap.com/
I said in the other bit coin thread one ban in china or America and prices would tumble. China is basically going to be the first to say no to bit coin. 22% down in 24 hrs expecting it below $400 today. All the alt coins rely on bit coin some what so some are down 45% today alone. Bit coin to be a success requires the backing of 3 major markets, uk , USA, China. And to some extent the jap area as well. I'd of sold when the price hit its peak in November personally plenty of people did.
All the people who come in to buy dozens of video cards are gonna crap themselves. I hope they all drop to less than zero!!
If you actually look at the prices over the past couple of months for all coins, they have steadily gone up over all. Even with this crash they haven't gone down as low as they were two months ago. There is still profit to be made mining, just not as much.
I've invested a bit on Quarkcoin, just for giggles. The world will move on, without China. Cryptocurrencies are definitely here to stay, and the fact that one of the world's most controlling and irrational economies have denounced it, is 1) not that surprising and 2)not hugely worrying. Yes we lose a huge percentage of the world population, but that market is also hugely inaccessible for trade on this level with the rest of the world.
China is the biggest untapped market for most USA eu companies. China could also just be the first, if it was the only bit coins price would of rebounded faster instead it's held pretty steady at $600 ish.
