Why I think a major and prolonged crash could be beneficial

Asrael999

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Quote from: notme on November 04, 2013, 09:50:27 AM

Quote from: Asrael999 on November 04, 2013, 04:26:03 AM

You are falling into the psychological trap of "needing to own whole bitcoins". Think of it as buying an mBTC for $2, not a BTC for 200. Time to change the exchanges so we buy mBTC and show mBTC in the wallets. Psychologically then the whole thing becomes much more palatable.
Normal people don't buy whole bars of gold (ingots) they buy by the ounce. Now we should buy BTC by the mBTC not by the coin.

Protip: 1000 mBTC = 1 BTC

apologies I never was that good at that newfangled math stuff

notme

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Quote from: Asrael999 on November 04, 2013, 04:26:03 AM

You are falling into the psychological trap of "needing to own whole bitcoins". Think of it as buying an mBTC for $2, not a BTC for 200. Time to change the exchanges so we buy mBTC and show mBTC in the wallets. Psychologically then the whole thing becomes much more palatable.
Normal people don't buy whole bars of gold (ingots) they buy by the ounce. Now we should buy BTC by the mBTC not by the coin.

Protip: 1000 mBTC = 1 BTC

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: wobber on November 01, 2013, 11:24:41 AM

I was thinking:

Many people hold tens of thousands of coins (see rpietillas TOP 500 for some info). That means lots of coins are in the hands of some wealthy elite that are already rich and have not immediate need to cash out anything. That's not wealth, that's power. Having 1% of the total coins is purely power.

What if we would have a prolonged downtrend (not violent) to $5-10 for let's say 2 years? May of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

Brilliant idea! If this was still 2010-12 when this was the status quo. Those with that many coins recognised the value of bitcoin and risked what they (still) think they can afford to lose. There is nothing unfair about that. They just could risk more, or believed more.

Asrael999

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You are falling into the psychological trap of "needing to own whole bitcoins". Think of it as buying an mBTC for $2, not a BTC for 200. Time to change the exchanges so we buy mBTC and show mBTC in the wallets. Psychologically then the whole thing becomes much more palatable.
Normal people don't buy whole bars of gold (ingots) they buy by the ounce. Now we should buy BTC by the mBTC not by the coin.

goxed

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Bitcoin / Crypto mining Hardware.

Most people tend to buy during bull runs, and capitulate during crash, including reasonably strong hands.

prophetx

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he who has the gold makes the rules

it is not going to happen... that cat is out of the bag and he's not going back in

well i am not going to say it cannot happen, there could be some technical crisis that could cause a major crash. for example right now the average block time is like 6 minutes or so? at some point if it rises above ten for a long enough period it could cause major stagnation.

also there is a limit on the number of transactions that are contained within blocks, i know that can be adjusted in the future but as it stands right now if we get closer to this limit that could also destabilize the system.

anyway I am rambling...

but it is possible that money might move between some alts and btc in those kinds of scenarios, and there would be opportunity to increase one's BTC holdings

BitcoinAshley

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Quote from: Elwar on November 03, 2013, 07:45:14 PM

Maybe the government can just take away people's coins and give them to you. That would be fair right?

Now we're talking! Grin

balanghai

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Quote from: ?? on ??

Quote from: TERA on November 01, 2013, 02:51:08 PM

At $10,000, the FBI would hold a position valued at over a billion dollars.

Assuming the FBI are strong hands.

Hahaha this made my day!

smoothie

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LEALANA Bitcoin Grim Reaper

Beneficial for who?

Elwar

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Viva Ut Vivas

Maybe the government can just take away people's coins and give them to you. That would be fair right?

gaston909

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Yes,I agree... I want to see a major and prolonged crash so I can buy a huge volume of coins super cheap. Good plan sir.

Tirapon

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Quote from: tutkarz on November 03, 2013, 03:41:48 PM

And btw $220 is still very cheap for bitcoin and it still has enormous potential of growth if some mayor companies will start using it. Stop complaining people.

+1

Want cheap BTC? Buy some now then.

tutkarz

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Quote from: alexeft on November 03, 2013, 11:22:28 AM

Sounds to me like the OP wants to buy some cheap coins!

No cheap coins anymore my friend Wink

agree, some people are just way too greedy. And btw $220 is still very cheap for bitcoin and it still has enormous potential of growth if some mayor companies will start using it. Stop complaining people.

Tirapon

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Quote from: wobber on November 01, 2013, 11:24:41 AM

I was thinking:

Many people hold tens of thousands of coins (see rpietillas TOP 500 for some info). That means lots of coins are in the hands of some wealthy elite that are already rich and have not immediate need to cash out anything. That's not wealth, that's power. Having 1% of the total coins is purely power.

What if we would have a prolonged downtrend (not violent) to $5-10 for let's say 2 years? May of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

If you aren't willing to cash out at $200, why would you cash out at $5?

alexeft

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Sounds to me like the OP wants to buy some cheap coins!

No cheap coins anymore my friend Wink

bitcoin carpenter

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There will be crashes, but I doubt any will be prolonged. to many big players fighting strong hands for coins. at this point selling btc will probably just lead to losses.

I will wait for interest in BTC to slow a bit before i get back into playing the waves, and keep some cash on the sidelines just in case the fed sells DPRs bitcoins on the open market

TERA

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Quote from: Birdy on November 01, 2013, 11:40:54 AM

What if we would have a prolonged uptrend (not violent) to $5000-10000 for let's say 2 years? Many of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

Roll Eyes

Even now Bitcoins market cap is so low that people can aquire enormous amounts of the overall percentage, if they want to.
And you want it to go down to $5?

At $10,000, the FBI would hold a position valued at over a billion dollars.

SheHadMANHands

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This may be the dumbest thread I've ever seen.

Good luck with your 2013 cheap bitcoin goals..

Patel

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Quote from: wobber on November 01, 2013, 02:16:30 PM

Funny. I am not whining. I don't have money to buy coins even if they go to $50 USD.

You can get coins, not full 1.0 denominations, but certainly you can still get coins.

wobber

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Funny. I am not whining. I don't have money to buy coins even if they go to $50 USD.

Topic: Why I think a major and prolonged crash could be beneficial (Read 2555 times)