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June 19, 2013, 11:11:41 AM
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Author Topic: Prepare for a Bitcoin Crash  (Read 608 times)
freeAgent
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« on: August 19, 2012, 11:15:47 PM »
Just FYI, pirateat40 announced that he's "closing" Bitcoin Savings & Trust.  He claims that everyone will be paid out what they're owed within a week, so I'd imagine that in order to do so, he will crash the market this week.  The price has already dropped ~30% from its peak right before his announcement.

For the uninitiated, Bitcoin Savings & Trust is widely considered a ponzi scheme, and it was the largest Bitcoin investment fund out there.
« Last Edit: August 19, 2012, 11:17:25 PM by freeAgent » Logged
BonerJoe

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« Reply #1 on: August 19, 2012, 11:24:44 PM »
Buy @ $3!
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Diogenes The Cynic
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« Reply #2 on: August 20, 2012, 04:38:59 AM »
So, prices will drop at silk road. Score!
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I am looking for an honest man. -Diogenes The Cynic

Dude, I thought you were a spambot for like a week. You posted like a spambot. You failed the Turing test.

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« Reply #3 on: August 20, 2012, 09:09:41 AM »
Quote from: Diogenes The Cynic on August 20, 2012, 04:38:59 AM
So, prices will drop at silk road. Score!

Or they will just adjust higher in Bitcoin to keep steady in terms of USD.  I don't follow the Silk Road, so I have no idea how quickly prices adjust there.
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