user14135: "lthough these events are unfortunate, none of them involve Bitcoin itself being hacked, nor imply inherent flaws in Bitcoin; just like a bank robbery doesn't mean that the dollar is compromised."
please explain to me why bitcoins value went from over 1000 dollars, to 500 and some over nigth because of theft?
mt gox got robbed 750,000 bitcoins, but as if this article was any kind of accurate, would bitcoins value still not be in the 1000's????? if in fact robing bitcoins didn't affect prices at all!
bitcoin is a dream currency for dreamers, and dreamers have to wake up some day

user85: Because Bitcoins don't really have a fundamental anchor value, their price is subject to momentum effects. When the Mt Gox problems were reported, many people expected the price of Bitcoin to drop. Even if you expect Bitcoin to hold its value in the long term, if you think it's going to drop in the short term, you may sell hoping to buy back at a lower price.
Once the price starts dropping, others decide to sell figuring they can buy back at a lower price, causing the drop to escalate. Eventually, the price gets low enough that people don't want to risk "missing the bottom", so they buy back in to hold for the longer term. This ends the drop and often causes a rebound.
Bitcoin is definitely in the process of growing up.

14135: <p>"lthough these events are unfortunate, none of them involve Bitcoin itself being hacked, nor imply inherent flaws in Bitcoin; just like a bank robbery doesn't mean that the dollar is compromised."</p>

<p>please explain to me why bitcoins value went from over 1000 dollars, to 500 and some over nigth because of theft?</p>

<p>mt gox got robbed 750,000 bitcoins, but as if this article was any kind of accurate, would bitcoins value still not be in the 1000's????? if in fact robing bitcoins didn't affect prices at all!</p>

<p>bitcoin is a dream currency for dreamers, and dreamers have to wake up some day</p>
 85: <p>Because Bitcoins don't really have a fundamental anchor value, their price is subject to momentum effects. When the Mt Gox problems were reported, many people expected the price of Bitcoin to drop. Even if you expect Bitcoin to hold its value in the long term, if you think it's going to drop in the short term, you may sell hoping to buy back at a lower price.</p>

<p>Once the price starts dropping, others decide to sell figuring they can buy back at a lower price, causing the drop to escalate. Eventually, the price gets low enough that people don't want to risk "missing the bottom", so they buy back in to hold for the longer term. This ends the drop and often causes a rebound.</p>

<p>Bitcoin is definitely in the process of growing up.</p>
