Price drop : bitcoinners happy ? - page 3.

Yeezus

full member

Activity: 214

Merit: 100

Quote from: conteaza on January 12, 2015, 08:56:48 AM

Quote from: Troonetpt on January 12, 2015, 08:39:42 AM

I am not happy the price drop.
Actually, the price risen up will attract more people buy in.
It's better for the development of bitcoin.

I can't see any relationship between price and development :/

He means more people getting into bitcoin because of the low price is better for bitcoin's growth aka development.

izanagi narukami

legendary

Activity: 2030

Merit: 1028

As a bitcoin holder, I kindda sad for the price recently.

But If you sure that bitcoin will raise again, then it is the right time to buy since it's kindda low.

Just make a good speculation to make a good profit

conteaza

sr. member

Activity: 406

Merit: 250

Quote from: Troonetpt on January 12, 2015, 08:39:42 AM

I am not happy the price drop.
Actually, the price risen up will attract more people buy in.
It's better for the development of bitcoin.

I can't see any relationship between price and development :/

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

The low price could also atract people to buy. They'll speculate to sell it on higher price later. What comes down, must come up and the other way around.

Troonetpt

sr. member

Activity: 322

Merit: 250

I am not happy the price drop.
Actually, the price risen up will attract more people buy in.
It's better for the development of bitcoin.

Shattered

sr. member

Activity: 448

Merit: 250

I dont think under any circumstances would miners be happy about the price dropping.
Thats like being happy after your boss calls you into his office on Monday morning and tells you from now on you will be making only 80% of your currently salary.

Furio

legendary

Activity: 938

Merit: 1000

BTC | LTC | XLM | VEN | ARDR

Quote from: crazyearner on January 11, 2015, 08:37:11 PM

Quote from: rikfredsy on January 11, 2015, 06:35:36 PM

Quote from: JerryCurlzzz on January 10, 2015, 11:36:05 PM

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

Yes if the network hash rate reduces in speed it will drop down by x amount like it did a few times in Dec 2014 last year but soon went back up as more went online. In all honestly BTC mining is end of days now unless you got some serious TH power and free energy. I remember grabbing one of the first Avalon units and making 2 BTC per day with that with 60GH speeds now you need like 35TH to 40TH to even produce 1BTC per day due to the amount of hashing power that is come online and is currently going on. By mid 2015 people are going to need at least 100TH basic to make anything and the power that is going to be eaten up by that is going to be stupid amounts. I have close to 1TH of power that's sitting collect dust now because it is not worth it to mine based on mining to power use to cost to result. The only time my units come online now is if a new alt coin comes along and I mine it at the beginning and after a few days soon turn off again due to some massive miners all jumping on it.

Then you didn't replace your HW fast enough, SP20 or antmiuners s5 still produce profit, even with this low exchange rate... It's all about power to gh/s ratio. And you''re predictions of 30 ths to produce a fair amount is a bit strong, with 5 th/s you still rake in a decent amount of bitcoin, it's all about expectations

crazyearner

legendary

Activity: 1820

Merit: 1001

Quote from: rikfredsy on January 11, 2015, 06:35:36 PM

Quote from: JerryCurlzzz on January 10, 2015, 11:36:05 PM

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

Yes if the network hash rate reduces in speed it will drop down by x amount like it did a few times in Dec 2014 last year but soon went back up as more went online. In all honestly BTC mining is end of days now unless you got some serious TH power and free energy. I remember grabbing one of the first Avalon units and making 2 BTC per day with that with 60GH speeds now you need like 35TH to 40TH to even produce 1BTC per day due to the amount of hashing power that is come online and is currently going on. By mid 2015 people are going to need at least 100TH basic to make anything and the power that is going to be eaten up by that is going to be stupid amounts. I have close to 1TH of power that's sitting collect dust now because it is not worth it to mine based on mining to power use to cost to result. The only time my units come online now is if a new alt coin comes along and I mine it at the beginning and after a few days soon turn off again due to some massive miners all jumping on it.

rikfredsy

sr. member

Activity: 256

Merit: 250

Quote from: JerryCurlzzz on January 10, 2015, 11:36:05 PM

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

JerryCurlzzz

hero member

Activity: 504

Merit: 500

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

SargeR33

member

Activity: 112

Merit: 10

★Bitin.io★ - Instant Exchange

Isn't that the main issue with the bitcoin at the moment? These merchants who immediately sell are quite likely undercutting the market and dragging the price down. If everyone started selling their precious metals and competing for sales, the price will drop. The same thing is happening with oil. Down to $40 a barrel because the US just wants to dump it. What is it doing? Killing economies.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: resya on January 07, 2015, 05:58:47 PM

Quote from: conteaza on January 07, 2015, 07:27:26 AM

Quote from: pawel7777 on January 07, 2015, 06:42:53 AM

Quote from: conteaza on January 07, 2015, 06:08:35 AM

Quote from: Wendigo on January 07, 2015, 05:04:40 AM

Is now the time to buy in big or the current value could go even lower?

If you plan to hold long-term doesn't matter if you buy at 280-290 , in worst case price could dip to 260 (less probable)

It has already dived under $260 few days ago. Why do you think it's not probable?

Hard to say what will happen when BitStamp re-opens. They'll likely have to buy back the stolen 19,000 (if they didn't already). This can drive the price up or down.

But yes, if you're bullish on bitcoin and are here for the long-run, then the current price movement doesn't matter too much.

I know that price was around 260 few days ago and is less probable that will be again 260 sometime

Is there a price more stupid than 260$ ? Merchants can't do nothing with this price, it's not handable in all currencies. Personally if I have to hack an exchange, I will not steal any coins with such a value of 260$

Bitcoin price is not a problem for merchants who use a payment service as they get fiat for every purchase made.

It may be a problem when merchants hold the coins while value is decreasing.

Only a tiny percentage of merchants actually hold the coins.

MJK

member

Activity: 60

Merit: 10

Quote from: WillyBTC on January 05, 2015, 03:31:29 PM

Quote from: wesk1212 on January 05, 2015, 02:55:28 PM

Quote from: michaeladair on January 04, 2015, 08:25:14 AM

Now we can buy more bitcoin for cheap!

so did you buy?

I hate to say it, but I've been hearing this for so long now, that I have to think -- most with this attitude already bought in (or bought back in) a long time ago, at much higher prices.

But there's always a continuous flow of people waiting to get into bitcoin so this is their time. Regardless of the price some people still can see the value of bitcoin and it's possible that the price wont always keep dropping. IF it catches on hopefully the opposite will happen.

arieq

sr. member

Activity: 364

Merit: 256

If bitcoins price drop, then good, we will get rid of all the capitalist opportunists who dont understand bitcoins. Let bitcoins fall so we the ones who back up the original intention of bitcoin can have a payment currency and transaction without any government or established capitalished.

LorettaAndrews

sr. member

Activity: 434

Merit: 250

yep happy to buy Cheesy

bitcoin is very cheap now

don't cry bag holders

rikfredsy

sr. member

Activity: 256

Merit: 250

Price increase all happy Grin

conteaza

sr. member

Activity: 406

Merit: 250

Quote from: resya on January 07, 2015, 05:58:47 PM

Quote from: conteaza on January 07, 2015, 07:27:26 AM

Quote from: pawel7777 on January 07, 2015, 06:42:53 AM

Quote from: conteaza on January 07, 2015, 06:08:35 AM

Quote from: Wendigo on January 07, 2015, 05:04:40 AM

Is now the time to buy in big or the current value could go even lower?

If you plan to hold long-term doesn't matter if you buy at 280-290 , in worst case price could dip to 260 (less probable)

It has already dived under $260 few days ago. Why do you think it's not probable?

Hard to say what will happen when BitStamp re-opens. They'll likely have to buy back the stolen 19,000 (if they didn't already). This can drive the price up or down.

But yes, if you're bullish on bitcoin and are here for the long-run, then the current price movement doesn't matter too much.

I know that price was around 260 few days ago and is less probable that will be again 260 sometime

Is there a price more stupid than 260$ ? Merchants can't do nothing with this price, it's not handable in all currencies. Personally if I have to hack an exchange, I will not steal any coins with such a value of 260$

well seems hackers have a different opinion , if today a coin has a value of 290$ doesn't means it will have the same value in the future...

resya

sr. member

Activity: 294

Merit: 250

Quote from: conteaza on January 07, 2015, 07:27:26 AM

Quote from: pawel7777 on January 07, 2015, 06:42:53 AM

Quote from: conteaza on January 07, 2015, 06:08:35 AM

Quote from: Wendigo on January 07, 2015, 05:04:40 AM

Is now the time to buy in big or the current value could go even lower?

If you plan to hold long-term doesn't matter if you buy at 280-290 , in worst case price could dip to 260 (less probable)

It has already dived under $260 few days ago. Why do you think it's not probable?

Hard to say what will happen when BitStamp re-opens. They'll likely have to buy back the stolen 19,000 (if they didn't already). This can drive the price up or down.

But yes, if you're bullish on bitcoin and are here for the long-run, then the current price movement doesn't matter too much.

I know that price was around 260 few days ago and is less probable that will be again 260 sometime

Is there a price more stupid than 260$ ? Merchants can't do nothing with this price, it's not handable in all currencies. Personally if I have to hack an exchange, I will not steal any coins with such a value of 260$

Wendigo

legendary

Activity: 2604

Merit: 1036

Quote from: conteaza on January 07, 2015, 06:08:35 AM

Quote from: Wendigo on January 07, 2015, 05:04:40 AM

Is now the time to buy in big or the current value could go even lower?

If you plan to hold long-term doesn't matter if you buy at 280-290 , in worst case price could dip to 260 (less probable)
[/quote

Okay then better buy it now and expect the price to rise from here than to wait and jump mid-way Cool

Thank you.

conteaza

sr. member

Activity: 406

Merit: 250

Quote from: pawel7777 on January 07, 2015, 06:42:53 AM

Quote from: conteaza on January 07, 2015, 06:08:35 AM

Quote from: Wendigo on January 07, 2015, 05:04:40 AM

Is now the time to buy in big or the current value could go even lower?

If you plan to hold long-term doesn't matter if you buy at 280-290 , in worst case price could dip to 260 (less probable)

It has already dived under $260 few days ago. Why do you think it's not probable?

Hard to say what will happen when BitStamp re-opens. They'll likely have to buy back the stolen 19,000 (if they didn't already). This can drive the price up or down.

But yes, if you're bullish on bitcoin and are here for the long-run, then the current price movement doesn't matter too much.

I know that price was around 260 few days ago and is less probable that will be again 260 sometime

Topic: Price drop : bitcoinners happy ? - page 3. (Read 8973 times)