Topic: What would be the consequences if Bitcoin went down to $200 or even $100? (Read 958 times)
August 21, 2015, 09:28:41 AM
We all want to see that $100 Usd price just to stack up even more.
August 21, 2015, 09:26:04 AM
Hopefully a lot of the morons in the bitcoin community panic sell to hit that 100 mark, i'll be buying btc thanks to them hehehehe.
Lets see what happens.
Lets see what happens.
August 21, 2015, 09:22:24 AM
If price goes below $100, then I'll definitely but lots of Bitcoins. That way, I could reach ROI easily when the price goes up back again. Simple as that 
August 21, 2015, 07:27:11 AM
We have been sub $200 before and we was there for a short time at the beginning of the year. Yes sure some of the big boys turned off their miners but lots didn't and Bitcoin continued as it will if we drop to that level again. The support should kick in big time around the $200's so I wouldn't worry.
August 21, 2015, 07:20:02 AM
It will probably scare of a few people who entered yo male a quick buck, and will probably draw in more new blood that can finally enter with a full bitcoin.
August 21, 2015, 06:49:58 AM
If the price went down below $100 you would definitely see a few people just picking up a few 'cos they heard about this thing called Bitcoin but it is too expensive to enter, I would think it would bring more people in but they better be quick as it won't stay that low for long.
With regards to the miners which was your original question, as others have said they would probably switch onto a more profitable coin until the price went back up to make it worthwhile jumping back onto Bitcoin.
With regards to the miners which was your original question, as others have said they would probably switch onto a more profitable coin until the price went back up to make it worthwhile jumping back onto Bitcoin.
August 21, 2015, 06:37:26 AM
its normal though prices every time just wait for it to come up
once again it reached once 100$+ range
just don't panic and calm down
once again it reached once 100$+ range
just don't panic and calm down
Its been going down for 2 years now. Every now and then there is a little bubble but soon it is back on track again. It is a risk that next time it go under $200 or $100 it doesent go up again.
August 21, 2015, 06:34:48 AM
I'm going to buy some, thinking that it will bounch back to 300/500 
August 21, 2015, 06:07:32 AM
if bitcoin went down to $100 I'd start buying again. I remember buying coins for $30... good times. Nothing much would change I guess. hashrate would go down due to miners shutting down.
+1
I remember buying coins for $4
I would definitely start buying like crazy again.
August 21, 2015, 05:40:07 AM
Last year there were people who claimed Bitcoin miners would all go bankrupt if the price dropped below $300. They said it was impossible for the price to go that low, and if it did it would be the end of Bitcoin. We have been below $300 for most of the last six months and the miners are still mining. We could go below $100 and enough miners would still be mining and keeping the network alive. The smallest miners would switch off while the difficulty dropped then stat up again.
August 21, 2015, 05:28:55 AM
I'm thinking in particular about the miners. So what would be the consequences if bitcoin lost even more value and went down to $200 or even $100
The price is irrelevant for the mining process. If mining becomes less profitable, some miners will stop. Which causes mining to become more profitable (because there's less hashing power, thus difficulty decreases). Which causes more people to start mining. Et cetera, ad infinitum.This is a dynamic equilibrium that will always prevail. Regardless of the price, it will always be profitable for a certain number of people to mine.
this also mean that the overall network will be less insecure, it's not only about the miners itself, but the totalhashrate is very important, so it does not matter if the ratio between miners and profit will be unchanged
what it matter is that bitcoin will be much easier to attack, not a good thing, maybe at 100 we can still hold some security, but at single digit this thing is fucked...
Well, we see the same thing happening with this Bitcoin Core and XT split. More hashing power going to waste on a worthless fork. The price will drop very quickly, once people see the outcome of this whole audacious plan from the XT side.
It would be better for all of us, if they could just reconcile their differences and settle on a 8mb block.
August 21, 2015, 05:04:36 AM
its normal though prices every time just wait for it to come up
once again it reached once 100$+ range
just don't panic and calm down
once again it reached once 100$+ range
just don't panic and calm down
August 21, 2015, 04:15:58 AM
It's hard imaginable that the price will crash to a $100 and stay there for a while. I think that the buying pressure would be huge that we would just bounce quickly up. Just like we did 2 days ago with the Bitfinex dump. Now of course, this would be only valid if we keep getting uncertainty and the news like we are having these days with the XT situation. If nothing was really broken etc..
If there would be some major problem, the story would be much different.
If there would be some major problem, the story would be much different.
August 21, 2015, 02:49:54 AM
I'm thinking in particular about the miners. So what would be the consequences if bitcoin lost even more value and went down to $200 or even $100
The price is irrelevant for the mining process. If mining becomes less profitable, some miners will stop. Which causes mining to become more profitable (because there's less hashing power, thus difficulty decreases). Which causes more people to start mining. Et cetera, ad infinitum.This is a dynamic equilibrium that will always prevail. Regardless of the price, it will always be profitable for a certain number of people to mine.
this also mean that the overall network will be less insecure, it's not only about the miners itself, but the totalhashrate is very important, so it does not matter if the ratio between miners and profit will be unchanged
what it matter is that bitcoin will be much easier to attack, not a good thing, maybe at 100 we can still hold some security, but at single digit this thing is fucked...
August 21, 2015, 02:06:06 AM
i would buy miners, since that would be more affordable to decrease merchant's loss!
u jelly, Bitmain?
u jelly, Bitmain?
August 21, 2015, 02:05:09 AM
I'd buy more.
Then I'd have more pre-Judas Bitcoin blockchain coins to spend on either chain.
Then I'd have more pre-Judas Bitcoin blockchain coins to spend on either chain.
Seriously this. If it went down because of some technical reason (e.g. quantum computer hacks all bitcoins and makes them worthless [yeah, right]), then I'd sell and hope to get out with anything before it hit zero. But on news like we had this week I'd just smile and buy, buy, buy (just like I've been doing, woot).
August 21, 2015, 02:03:18 AM
I'm thinking in particular about the miners. So what would be the consequences if bitcoin lost even more value and went down to $200 or even $100
The price is irrelevant for the mining process. If mining becomes less profitable, some miners will stop. Which causes mining to become more profitable (because there's less hashing power, thus difficulty decreases). Which causes more people to start mining. Et cetera, ad infinitum.This is a dynamic equilibrium that will always prevail. Regardless of the price, it will always be profitable for a certain number of people to mine.
August 21, 2015, 02:03:09 AM
if bitcoin went down to $100 I'd start buying again. I remember buying coins for $30... good times. Nothing much would change I guess. hashrate would go down due to miners shutting down.
August 21, 2015, 01:58:42 AM
I'd buy more.
Then I'd have more pre-Judas Bitcoin blockchain coins to spend on either chain.
Then I'd have more pre-Judas Bitcoin blockchain coins to spend on either chain.
August 21, 2015, 01:57:51 AM
Using the term "consequences" look weird. Anyway, some miners will definitely stop their mining hardware as it is not profitable for them. Some will continue to mine if they believe in Bitcoin. And the later will become the onc who laugh when Bitcoin bump back to 300 or 500 USD again. .
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