Topic: Price drop : bitcoinners happy ? - page 6. (Read 8973 times)

There are 2 main reason
1. Because we can buy more bitcoin before the price return to normal
2. Because we can buy more bitcoin before the price rise up to the moon

Personally i'm not happy because i want bitcoin price always rise up

The network is far bigger then needed atm. The big problem with bitcoin, the hardware armswar, will be contained a bit by this. That's why the miner from the OP is happy. You needn't worry about slow transactions, the bitcoin network grew much too fast, because of the hardware armswar. Satoshi himself warned after the development of ASIC, that ASIC companies should agree to a gentlemen's agreement that the HW slowly be turned up, yet we all know how that went.... In my view, the problem with bitcoin is that we as a people are not ready for the responsibility the decentralization of bitcoin (crypto)tech provides us. It's way ahead of time, because the revolution on moral grounds to end corporatism that's destroying our only planet hasn't started yet... The tech is here, yet the will and the sheeple aren't ready yet.

In that way it makes me think about communism, if people were perfect and really equal in their hearts, communism is the perfect system, yet man is not perfect, and therefore communism can't succeed, because greed makes people wanna have more than the other. It's also a shame that the biggest movement that wants to change that, Zeitgeist, doesn't see bitcoin/crypto as a way to distribute wealth equally, yet as purely as a new kind of money, which they wanna abolish in the resource-economy. I think crypto IS the way to be in resourced-based economy, no manipulation, fairness by protocol, only the distribution will be the challenge

Well I am not happy with the drop. But then again who knows what Bitcoin will do in 5-10 years.

Bingo. The above poster that mentioned his miner friend was "happy" -- that's an anomaly. Maybe that person is planning to buy coins cheap at a scale larger than his mining operation. Because otherwise, miners have nothing to be happy about.

As a miner, I don't like the price drop at all. I feel it will drop to $250 over night. If that is the case it will no longer be feasible for me to mine. I will have to switch off my miners and see how things flow out. I don't mind if the current BTC I have will drop to something worthless but I will not lose money running miners for nothing.

There is no reason to be happy. This will turn off a lot of miners. If we lose a big portion of the hashing power, how much power will there be before transactions take too long to process. New people will not be getting in either since the risk of being scammed is quite high and the returns are low. There are FAR too many people using online wallets, keeping their BTC online.

To be honest, I do not understand for the price,too.



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maybe he plans on buying at these low levels and also hoping difficulty will drop.

There is high probability of that the newcomers are scared out of bitcoin. But exceptionally for the faithful bitcoiners, they will be happy to accumulate thier bitcoin stash.

I'm happy for the drop in Bitcoin to USD price.

• Lower price means lower barrier to entry for new users
• Lower price potentially allows others to get in at low prices (IF that to-the-moon talk becomes a reality)
• Lower price puts to shame all the people who declared with absolute certainty that the price would just continue to grow and grow in 2014, without any sort of basis of fact for them to make that call

He must be high....Mining is like a business, if your expense is greater than your income you will go out the business, well in this case the mining.

Hello all ,
Why people are happy about the prices drop
I ask a miner he said that he is happy too why ? his profile will drop also