$438 and going down | Bitcointalksearch.org

EuroTrash

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Quote from: C64_4EVA on May 06, 2014, 06:24:44 PM

While the price may certainly dip below $400 or even $300, it will be short lived. There is no way in a year from now people will be buying Bitcoins for just a couple of hundred dollars. If anything, I'd expect another mania to develop over a complete price crash.

You don't provide a graph or at least one explanation behind your reasoning. Makes it look like you're pulling numbers out of your arse.

C64_4EVA

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While the price may certainly dip below $400 or even $300, it will be short lived. There is no way in a year from now people will be buying Bitcoins for just a couple of hundred dollars. If anything, I'd expect another mania to develop over a complete price crash.

inca

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Quote from: mikerbiker6 on May 06, 2014, 06:06:22 PM

What makes bitcoin valuable: Distributed network, blockchain technology, anonimity, bitcoin community,etc.
I think the 'era' of decentrilized mining is coming to an end, therefore the chance of attacks is highly likely.
This is just waiting for the bomb to go off.
We will see a slow decrease in value as this(the centrilization+losing of trust) is a gradual process. followed by a sharp drop after a 51% attack.
https://www.youtube.com/watch?v=Kjtgp5h-jEY&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q

So dump everthing while you can.

..so you can buy it?

mikerbiker6

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Activity: 392

Merit: 250

What makes bitcoin valuable: Distributed network, blockchain technology, anonimity, bitcoin community,etc.
I think the 'era' of decentrilized mining is coming to an end, therefore the chance of attacks is highly likely.
This is just waiting for the bomb to go off.
We will see a slow decrease in value as this(the centrilization+losing of trust) is a gradual process. followed by a sharp drop after a 51% attack.
https://www.youtube.com/watch?v=Kjtgp5h-jEY&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q

So dump everthing while you can.

EuroTrash

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Activity: 728

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Quote from: johnmatrix on May 05, 2014, 07:13:40 PM

Dont expect that the whales who bought at 900+ will be selling soon

By now it's about squeezing the coins out of the hodlers that have too many of them, independently from the price they bought at. Let me expand.
If coins are a very high percent of your net worth, you are more likely to capitulate than others. Especially if your cash flow is not that great (or negative) compared to the actual coins' worth.
The capitulation process is a form of wealth redistribution which might be healthy for btc in the long term. The grinding will stop when either the btc economy will be big enough to sustain the price, or the new wave of speculator/buyers will neutralize the selling pressure. Until then, expect many bull traps, likely caused by early investors trying to catch the bottoms - and losing their fortune in the process.

N12

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Quote from: Asrael999 on May 06, 2014, 05:18:29 AM

or none of them will be and miners with alternative income sources (say renting hosting space) will hold looking for increases prices in the future reducing the daily supply of new coins to zero.

Yeah, or we can make something up that ignores economics and human behaviour that will suddenly behave differently from the past 7 months.

Malin Keshar

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1- People in idle mode waiting until 10 May to see what will be next Chinese move, with some panic sellers around
2 - stolen coins being slowly dumped

Asrael999

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or none of the new coins will be sold and large professional miners will seek alternative income sources (say renting hosting space) and hold looking for increases prices in the future reducing the daily supply of new coins to zero.

N12

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Quote from: Raystonn on May 05, 2014, 08:33:27 PM

Quote from: Impaler on May 05, 2014, 08:14:02 PM

Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

No. If miners stop unprofitable mining, difficulty will drop to compensate. In short, mining costs will always be covered because of this. Mining difficulty will adjust, meaning less will be spent on hardware and electricity. So the fiat-value of BTC will not need to cover miners.

The point is that the average profit margins are decreasing across the board, from difficulty increase to difficulty increase, thus a larger portion has to be sold than before to cover running costs. Eventually, the margins will be very tight, and it will be extremely competitive, so that pretty much the entirety of the 3600 daily BTC supply will have to be sold.

If this wasn't true, then the average hashrate growth in % would not be decreasing:

ncsupanda

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Quote from: EuroTrash on May 06, 2014, 03:36:13 AM

Quote from: Stevenrm87 on May 05, 2014, 08:29:32 PM

w'ell probably be at or around $70 by the end of the month. SELL SELL SELL

Nope. Not so low and not that fast.

That would be "*awesome".

Price is up? BUY BUY BUY
Price is down? BUY BUY BUY

*You know what I mean.

EuroTrash

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Quote from: Stevenrm87 on May 05, 2014, 08:29:32 PM

w'ell probably be at or around $70 by the end of the month. SELL SELL SELL

Nope. Not so low and not that fast.

UglyTroll

newbie

Activity: 28

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Quote from: Impaler on May 05, 2014, 08:14:02 PM

Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

Haha, this is so truth. Beside I don't believe those college kids are able to HODL too long, how much the student load money in the Bitcoin market?

Raystonn

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Activity: 364

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Quote from: Impaler on May 05, 2014, 08:14:02 PM

Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

No. If miners stop unprofitable mining, difficulty will drop to compensate. In short, mining costs will always be covered because of this. Mining difficulty will adjust, meaning less will be spent on hardware and electricity. So the fiat-value of BTC will not need to cover miners.

Stevenrm87

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w'ell probably be at or around $70 by the end of the month. SELL SELL SELL

Impaler

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Newly minted coins are all that's needed to crash the market. The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

UglyTroll

newbie

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Quote from: johnmatrix on May 05, 2014, 07:13:40 PM

Dont expect that the whales who bought at 900+ will be selling soon

I think whales understand very much on Short Selling

johnmatrix

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Dont expect that the whales who bought at 900+ will be selling soon

r34tr783tr78

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Anyone that doesn't give supporting facts/reasons for their opinions won't be giving an opinion to take in account.

PerrythePlatypus

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I would expect a rebound to around $500 soon.

ncsupanda

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Quote from: r34tr783tr78 on May 05, 2014, 11:38:45 AM

I heard someone saying bitcoin is going to negative values, around -25usd. Do you think he might be right?

--
End joking mode

Lol'd.

Topic: $438 and going down (Read 3364 times)