Let it crash - page 2. | Bitcointalksearch.org

okae

legendary

Activity: 1401

Merit: 1008

northern exposure

Quote from: imapessimist on February 05, 2018, 03:00:52 PM

... Then everyone will get a chance of cheap Bitcoin not just whales...

Cheap bitcoins is a "relative" term, will be bitcoins cheap now if they reach 500k in 10 years? Wink

people seem to be always trying to buy integer numbers and forget the fact that what now seems to be an small fraction, in the future, this "small" fraction could be "huge"...

Mihaylovic

sr. member

Activity: 910

Merit: 255

Quote from: imapessimist on February 05, 2018, 03:00:52 PM

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year. All small holders get their money out now. Let it fall. And then buy back low. Then everyone will get a chance of cheap Bitcoin not just whales.

This is the limit. the price is now around the cost of producing it. so if it goes below and stays there for longer, it will be something that noone is going to benefit. If mining stops all system crashs.

ClownSpider

hero member

Activity: 570

Merit: 504

Quote from: shield132 on February 05, 2018, 04:29:11 PM

Quote from: imapessimist on February 05, 2018, 03:00:52 PM

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year. All small holders get their money out now. Let it fall. And then buy back low. Then everyone will get a chance of cheap Bitcoin not just whales.

Yes, let it crash, I would enjoy this fact but what if this crash will be much and people lose faith in rise of bitcoin's price? + there are great alternative coins with less fee and fast confirmation time, at least pretty improved. And consider the fact that bitmain turned from bitcoin to altcoins too, they play a huge role in mining business, don't forget that.

Alt coins drop when bitcoins drop. Look at ANY chart.
because Alt coins are only good for exchanging for Bitcoin if you ever want to buy anything.

HitbtcSCAM

member

Activity: 196

Merit: 15

It is not crashing crashing is when something goes down! Bitsoin is up 40% from october, wall street can not do that
You need to learn to read the charts on the long term

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

Quote from: imapessimist on February 05, 2018, 03:00:52 PM

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year. All small holders get their money out now. Let it fall. And then buy back low. Then everyone will get a chance of cheap Bitcoin not just whales.

Yes, let it crash, I would enjoy this fact but what if this crash will be much and people lose faith in rise of bitcoin's price? + there are great alternative coins with less fee and fast confirmation time, at least pretty improved. And consider the fact that bitmain turned from bitcoin to altcoins too, they play a huge role in mining business, don't forget that.

Cryptoman69

newbie

Activity: 67

Merit: 0

For me I keep hold it. bad decision will make useless to our self. We know that the bitcoin price is only temporary, and to none of us also ever repay until in the end.

RNC

newbie

Activity: 42

Merit: 0

Quote from: promode on February 05, 2018, 03:27:22 PM

If the price is low, Big Miners will either stop or switch(Not an option as of now). This is scary Huh

No it's not and this is fantastic because we have far too many miners anyway by a factor of over ten and the ones
that remain might not rip us off like has happened in the past.

Celebrate when most of them go not that many will since they are running the banker hubs on Lightning and
are hoping none of us noticed.

marjil

member

Activity: 454

Merit: 13

Quote from: ?? on ??

Quote from: Arngrim on February 05, 2018, 03:27:30 PM

I agree with tuskacz and it is not just because of that.
The payment for the electricity will be getting higher and they would the money to pay for that.
It needs to be valued more so that they can continue on what they are doing.
With low transaction fees it will not be enough also for those bills to be paid.

Eventually some though that makes sense. Yes this is true, if miners doesn't pay electricity can hold for a while but eventually they would go broke. And without miners there are no transanctions and if there are no transactions there is no currency value. So instead of hoping and dreaming of bitcoin value 1 million one day in the long term. We should think what will happen if miners don't mine. I think very few have understood this so far.

I don't think the miners are bothered one bit. They will always mine bitcoin to confirm transactions because all that will happen is that mining fees will go up. If you want your transactions to go ahead it means you will need to pay higher fees to the miners. This has always been the case and that's why we have seen very high fees to transfer bitcoin.

HitbtcSCAM

member

Activity: 196

Merit: 15

Crash? it is up 40% from october, get a dictionary before you post here, what crash
wall street can not do 40% gains in 4 months and you talk about a crash?

Bitophile

newbie

Activity: 62

Merit: 0

Quote from: imapessimist on February 05, 2018, 03:40:44 PM

And there is Bitcoin already so would it matter to much if miners stopped mining.

You need to put some time to study about blockchain and how it works. If there are no miners, there are no transactions. Ofcourse, if ASICs are out of the picture we could mine using GPUs or even CPUs, but I don't think it will happen.

n691309

legendary

Activity: 1526

Merit: 1001

Quote from: imapessimist on February 05, 2018, 03:00:52 PM

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year. All small holders get their money out now. Let it fall. And then buy back low. Then everyone will get a chance of cheap Bitcoin not just whales.

But what if you missed the dip and woke up one morning and the bitcoin price is more than 11.000 USD?
what you need to cut your losses and have some balancing on you bitcoin is to buy more on the dip. don't let whales have their money on bitcoin and make the chance get out of your hands.

WalkinRobbie

newbie

Activity: 42

Merit: 0

i need to drop to $50 again so I can buy in big. This will be a constant 5 year cycle now for whales to 5000x their money. So dont buy now let it keep dropping this will be a 5 year game over and over and only the poor folks who have money at a specific time to invest will also win this lottery so investing now is only slowing down the invitable, the whales will drop to nothing then rebound to 20k then drop to nothing then over and over and over.

imapessimist

jr. member

Activity: 266

Merit: 1

I just had this thought when it looked Bitcoin was totally crashing. But it has gone up again. Should we worry to much about miners as they have probably made a lot of money already. But many ordinary people have lost money. And there is Bitcoin already so would it matter to much if miners stopped mining.

Arngrim

member

Activity: 182

Merit: 13

I agree with tuskacz and it is not just because of that.
The payment for the electricity will be getting higher and they would the money to pay for that.
It needs to be valued more so that they can continue on what they are doing.
With low transaction fees it will not be enough also for those bills to be paid.

promode

newbie

Activity: 33

Merit: 0

Quote from: imapessimist on February 05, 2018, 03:00:52 PM

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year. All small holders get their money out now. Let it fall. And then buy back low. Then everyone will get a chance of cheap Bitcoin not just whales.

If the price is low, Big Miners will either stop or switch(Not an option as of now). This is scary Huh

tuskacz

newbie

Activity: 56

Merit: 0

Big miners put huge money in this business so now they won't allow bitcoin to crash. They are not interested in low bitcoin because mining would be unprofitable. If you want low prices you can buy altcoins, like litecoin or ripple.

imapessimist

jr. member

Activity: 266

Merit: 1

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year. All small holders get their money out now. Let it fall. And then buy back low. Then everyone will get a chance of cheap Bitcoin not just whales.

Topic: Let it crash - page 2. (Read 440 times)