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Title: Why I think a major and prolonged crash could be beneficial Post by: wobber on November 01, 2013, 03:24:41 PM 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. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: vokain on November 01, 2013, 03:27:22 PM We just had a crash dude, like four months ago. What would this accomplish for the psyche? We already are convinced it will eventually go over 266. That will happen before another "bubble" "collapses"
Edit: and once you're that wealthy you don't need to cash out ;) Title: Re: Why I think a major and prolonged crash could be beneficial Post by: wobber on November 01, 2013, 03:29:33 PM We just had a crash dude, like four months ago. What would this accomplish for the psyche? We already are convinced it will eventually go over 266. That will happen before another "bubble" "collapses" It lasted for a few months dude. I said years. What if we would still be in the 70es now? Would you feel the same optimism? Title: Re: Why I think a major and prolonged crash could be beneficial Post by: vokain on November 01, 2013, 03:33:14 PM We just had a crash dude, like four months ago. What would this accomplish for the psyche? We already are convinced it will eventually go over 266. That will happen before another "bubble" "collapses" It lasted for a few months dude. I said years. What if we would still be in the 70es now? Would you feel the same optimism? People that couldn't buy in the 70s before would feel the same optimism. If it was still a fiat dominated world I would use BTC like I do today as a savings account and just withdraw cash when I need it. Bucket in, trickle out :) Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Birdy on November 01, 2013, 03:40:54 PM 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.
::) 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? Title: Re: Why I think a major and prolonged crash could be beneficial Post by: wobber on November 01, 2013, 03:44:41 PM 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. ::) This is a good point also. I was thinking about it too. But if people have 50,000 coins, that would mean 250,000,000 just for one major player to cash out. If find it too much money. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Miz4r on November 01, 2013, 03:46:10 PM I've seen many people here predicting things like no more triple digits for years and such, but bitcoin is way too hot and volatile to suddenly go into hibernation for years. There will be more downtrends in the future, but as more and more people get involved with bitcoin you can't expect the price to go down to a level where you can comfortably buy in and absolutely know for certain that it just has to go up. I absolutely believe it is undervalued right now, it could go to $500 in the coming months and suddenly $200 is supercheap and everyone will be scrambling to buy bitcoins when it crashes to $250 or so.
Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Birdy on November 01, 2013, 03:47:30 PM 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. ::) This is a good point also. I was thinking about it too. But if people have 50,000 coins, that would mean 250,000,000 just for one major player to cash out. If find it too much money. Those are peanuts Of course not for me or you, but in terms of monetary systems those are peanuts. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: chriswilmer on November 01, 2013, 03:56:05 PM 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. I think you would (possibly) get the opposite effect. Even more bitcoins might accumulate in fewer hands. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: culexevilman on November 01, 2013, 03:58:58 PM btc equals freedom, thats priceless...
Title: Re: Why I think a major and prolonged crash could be beneficial Post by: wobber on November 01, 2013, 04:56:14 PM Can OP offer any proof that the coins are becoming less distributed as the exchange rate increases or that they would become more distributed as the exchange rate decreases? Actually no. Why? Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Keyser Soze on November 01, 2013, 05:29:58 PM Can OP offer any proof that the coins are becoming less distributed as the exchange rate increases or that they would become more distributed as the exchange rate decreases? Actually no. Why? Basic supply/demand principles (along with the growing popularity of bitcoin) would suggest that a higher exchange rate will cause bitcoins to become more distributed. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: bassclef on November 01, 2013, 05:37:57 PM 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. We don't need anything. Sounds like you want cheaper coins, but that's for the market to decide. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: mgio on November 01, 2013, 06:10:05 PM OP is just whining because he missed out on several chances to get cheap coins.
Every crash HURTS bitcoin. Every time it goes up it HELPS bitcoin. Just buy now and hope that it will go up to $1000. That is much better for bitcoin compared to bitcoin crashing to $40 and going back to $200. A major, prolonged crash would mean that people are losing faith in bitcoin since there would be drastically less demand for it. Bitcoin might not ever recover. You can't have it both ways. You can't have everyone suddenly give up on bitcoin and then have everyone want to get back in. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: wobber on November 01, 2013, 06:16:30 PM Funny. I am not whining. I don't have money to buy coins even if they go to $50 USD.
Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Patel on November 01, 2013, 06:39:58 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. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: SheHadMANHands on November 01, 2013, 06:44:08 PM This may be the dumbest thread I've ever seen.
Good luck with your 2013 cheap bitcoin goals.. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: TERA on November 01, 2013, 06:51:08 PM 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. ::) 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. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: bitcoin carpenter on November 03, 2013, 03:11:31 PM 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 Title: Re: Why I think a major and prolonged crash could be beneficial Post by: alexeft on November 03, 2013, 03:22:28 PM Sounds to me like the OP wants to buy some cheap coins!
No cheap coins anymore my friend ;) Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Tirapon on November 03, 2013, 03:33:51 PM 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? Title: Re: Why I think a major and prolonged crash could be beneficial Post by: tutkarz on November 03, 2013, 07:41:48 PM Sounds to me like the OP wants to buy some cheap coins! No cheap coins anymore my friend ;) 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. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Tirapon on November 03, 2013, 08:57:20 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. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: gaston909 on November 03, 2013, 09:37:31 PM 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.
Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Elwar on November 03, 2013, 11:45:14 PM Maybe the government can just take away people's coins and give them to you. That would be fair right?
Title: Re: Why I think a major and prolonged crash could be beneficial Post by: smoothie on November 03, 2013, 11:57:06 PM Beneficial for who?
Title: Re: Why I think a major and prolonged crash could be beneficial Post by: balanghai on November 04, 2013, 12:04:13 AM 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! Title: Re: Why I think a major and prolonged crash could be beneficial Post by: BitcoinAshley on November 04, 2013, 12:45:38 AM Maybe the government can just take away people's coins and give them to you. That would be fair right? Now we're talking! ;D Title: Re: Why I think a major and prolonged crash could be beneficial Post by: prophetx on November 04, 2013, 07:37:52 AM 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 Title: Re: Why I think a major and prolonged crash could be beneficial Post by: goxed on November 04, 2013, 08:08:56 AM Most people tend to buy during bull runs, and capitulate during crash, including reasonably strong hands.
Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Asrael999 on November 04, 2013, 08:26:03 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. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: crazy_rabbit on November 04, 2013, 10:11:03 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. Title: Re: Why I think a major and prolonged crash could be beneficial Post by: notme on November 04, 2013, 01:50:27 PM 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 Title: Re: Why I think a major and prolonged crash could be beneficial Post by: Asrael999 on November 04, 2013, 02:47:09 PM 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 |