Very surprised to see there is no chatter here about the big drop in bitcoin value today. I received my 7/18 request this morning and by the time I woke it had already lost $50. I have since taken more of a loss and decided to finally send what I had left to the bank after seeing the value price continue to drop as I type. If you look at the lifetime value of Bitcoins coupled with all the worrying news around it today and the introduction of the alternative currency Ether, the price seems destined to drop back down to its median point of $350 or so possibly. A Bitcoin was worth $655 last night and now it's $530. The following is the lifetime graph when it was still at $572 earlier.
I could be completely wrong and it could surge back up within a few days. It's also supposed to be a currency that will appreciate in value overtime unlike the dollar. But I decided it was time to clear my Bitcoin wallet. The site I used was lagging really hard as well. To the point where it was freezing and not processing my bank cash out request multiple times. You could tell they had heavy traffic from people cashing out and those brave enough to buy incase of a spike and those just monitoring the market. I had decided to take a shower before making the cash out as well and by the time I cleaned up, the value had already dropped another $20. What a great time/way to receive a poker withdrawal.
Last edited by DonkCommitted; 08-02-2016 at 06:51 PM.