Topic: Should I worry? (Read 6297 times)
HOLD! Do not worry.
Bitcoin is on the upwards stand right now with paypal news all over the board. Wohooo!! $10,000 here we come!
Only thing you should worry about at these prices is having enough fiat to buy all these cheap coins from the panic sellers.
Go buy some "cheap" coins then, idiot. Many idiots did and now is in deep red. Asking this forum if you should worry about bitcoin price would be like walking into a timeshare convention and asking the hosts if you should worry about your timeshare investment.
What do you think these idiots are going to tell you?
What do you think these idiots are going to tell you?
I hope OP listened to my advice and cut his looses. It's hard to do the responsible thing when all the other idiots are telling you to HODL!, but sometimes you need to accept reality.
The sky is falling sell sell.
FIAT is doomed for sure, with BTC at least you can have HOPE.
Why is fiat doomed? Are you stupid or what?If you are asking this on a Bitcoin forum you must be really stupid or what?
Only thing you should worry about at these prices is having enough fiat to buy all these cheap coins from the panic sellers.
FIAT is doomed for sure, with BTC at least you can have HOPE.
Why is fiat doomed? Are you stupid or what?
FIAT is doomed for sure, with BTC at least you can have HOPE.
Calm down. 
Everything that goes up must come down and go up again. Thats life. Dont sell. Hold it.
Everything that goes up must come down and go up again. Thats life. Dont sell. Hold it. go for the long run, if you think bitcoins gonna fail, just get out now, and go down the drain with other thing...
i believe it will go further down, thats why i backed out and am waiting
for price to settle lower, then ill rebuy.
Even if that doesnt happen now, it will soon.
So you sold your btc?
go for the long run, if you think bitcoins gonna fail, just get out now, and go down the drain with other thing...
i believe it will go further down, thats why i backed out and am waiting
for price to settle lower, then ill rebuy.
Even if that doesnt happen now, it will soon.
go for the long run, if you think bitcoins gonna fail, just get out now, and go down the drain with other thing...
if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.
downward spiral means? Bitcoin ends?
No, the difficulty level of mining Bitcoin drops until it's profitable to start mining again. The miners wait until it costs less electricity to mine a Bitcoin than they can sell one for.
If a lot of miners stop, the ones left will get a bigger piece of the pie, which will allow for them to invest in more hashing power, which will allow for bigger gains as they can monopolize the mining game, so if you are in the mining game and you have a big name stablished and leave, you are basically an idiot, thats why nothing wrong will happen. It's a self sustained system.
Wrong. If a lot of miners stop right after a high difficulty adjustment all the other miners are pretty much fucked with an unfair mining difficulty. And no, they don't get more bitcoins. Please inform yourself about mining and difficulty.
In the altcoin section a few coins almost died(very! long block times) because a big mining pool switched the coin after a high difficulty change and only came back when the difficulty adjusted way lower again.
if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.
downward spiral means? Bitcoin ends?
No, the difficulty level of mining Bitcoin drops until it's profitable to start mining again. The miners wait until it costs less electricity to mine a Bitcoin than they can sell one for.
If a lot of miners stop, the ones left will get a bigger piece of the pie, which will allow for them to invest in more hashing power, which will allow for bigger gains as they can monopolize the mining game, so if you are in the mining game and you have a big name stablished and leave, you are basically an idiot, thats why nothing wrong will happen. It's a self sustained system.
if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.
downward spiral means? Bitcoin ends?
No, the difficulty level of mining Bitcoin drops until it's profitable to start mining again. The miners wait until it costs less electricity to mine a Bitcoin than they can sell one for.
if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.
downward spiral means? Bitcoin ends?
if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.
Why? Could you elaborate? Some miners, most likely those with the oldest gear, will drop out. The total hash rate will then go down of course, and thus others will mine again at a profit. But what would this have to do with the Bitcoin price? We don't need an ever-increasing amount of miners or hash-rate for Bitcoin to function!
if hash-rate would to start to decrease time between blocks would increase, this could lead to problems, feather coin faced this problem, and hacked a solution.
if this does happen i could see some " bitcoin is borken selling " going on.
but i dont think so, hash rate is / always has been depreciating very fast, its only natural the hash rate is always going up, i don't see this change ever, might start to increase more slowly, and eventually level off.
Well, I don't think that this is a problem. Sure, it needs to re-target first, this may take some days, but even with half of the miners turning their gear off, we'd still be at a 20 minutes block time, which isn't catastrophic. Miners can only do one thing: Keep their gear running, it will never be more profitable than today. Therefore, they will most likely take the gamble and keep it running nevertheless!
say it does happen
i'd like to see the devs purpose we retarget difficulty immediately and the mining community agree.
i agree with you its no big deal, but so is implementing a minor change we can all ( more then 51% )agree on.
in my view bitcoin was made to evolve this way.
if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.
Why? Could you elaborate? Some miners, most likely those with the oldest gear, will drop out. The total hash rate will then go down of course, and thus others will mine again at a profit. But what would this have to do with the Bitcoin price? We don't need an ever-increasing amount of miners or hash-rate for Bitcoin to function!
if hash-rate would to start to decrease time between blocks would increase, this could lead to problems, feather coin faced this problem, and hacked a solution.
if this does happen i could see some " bitcoin is borken selling " going on.
but i dont think so, hash rate is / always has been depreciating very fast, its only natural the hash rate is always going up, i don't see this change ever, might start to increase more slowly, and eventually level off.
Well, I don't think that this is a problem. Sure, it needs to re-target first, this may take some days, but even with half of the miners turning their gear off, we'd still be at a 20 minutes block time, which isn't catastrophic. Miners can only do one thing: Keep their gear running, it will never be more profitable than today. Therefore, they will most likely take the gamble and keep it running nevertheless!
if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.
Why? Could you elaborate? Some miners, most likely those with the oldest gear, will drop out. The total hash rate will then go down of course, and thus others will mine again at a profit. But what would this have to do with the Bitcoin price? We don't need an ever-increasing amount of miners or hash-rate for Bitcoin to function!
if hash-rate would to start to decrease time between blocks would increase, this could lead to problems, feather coin faced this problem, and hacked a solution.
if this does happen i could see some " bitcoin is borken selling " going on.
but i dont think so, hash rate is / always has been depreciating very fast, its only natural the hash rate is always going up, i don't see this change ever, might start to increase more slowly, and eventually level off.
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