Bitcoin Forum

There are so many of these 'buy Bitcoin now, it's so cheap' threads but they simply aren't true. I can't believe though there aren't more posts about how awesome this slow crash to oblivion is. We might actually get a second chance at this thing back at prices that were seen before. We might see 20$ Bitcoin in the future.

We all know it's going to be big some day and we should all realize it's been hyped well beyond what it probably should be at. I'll be buying Bitcoin probably around 20$. I hope the majority of bs investors do completely lose faith in Bitcoin just so I can buy in where we were a couple years ago.

I sold at ~600 realizing that there's no place for BC to go but down for quite some time. I think it's going to surprise people just how low it goes, remember though, it's still just as amazing as it ever was, it just got too big too fast. Everyone at some point is going to be afraid of it but not us. $30 dollars is too much for a Bitcoin right now.

It hasn't really started tanking yet, but there will be a tipping point where it will flash crash well below 100$. (My guess is probably right around the time that people realize this is a very likely possibility!)

The best part is that while you're buying at $20, it'll be me selling my bag to you before it drops to $0.xx.

You missed the sub $100 boat buds, and hoping that Bitcoin implodes to $20 so you can buy in speaks volumes (mainly greed, jealousy, and retardation).

Good luck with that.

I suppose we will see. I suppose I follow you on greedy, maybe even jealous (not that much though, not taking it too seriously) and as far as retardation well, time will reveal if that's true or not.

Someone could just as easily make the point that you are greedy and jealous for wanting to make the same profit on it as the early adopters by holding it where it currently is.

People who think this forget the cost of mining. That cost is bottom. If people shut down mining, the supply will go down, and price will go up, and they will start mining again. Think of the impact of stopping that 3600 btc supply everyday, and what that would do to the price, with a current 24hr volume of $31mil. All this posts of people losing faith is just a scam. Bitcoin is evolving and becoming widely accepted. All these bear accounts are probably just the same group of people, spreading fud, driving the price down, and becoming the 1% buying up the supply in the process. So many people are already using and accepting Bitcoin in its short life so far as a currency. It's been exponential, and always will be exponential.

I"m not forgetting about mining at all, I realize right now it's very expensive but what I feel like you and others are missing is that we made it that way. It's not inherently expensive, it's just an arms race that is dictated by the cost of bitcoin not the other way around. If Bitcoin drops tremendously people won't be able to take such huge losses mining it and the difficulty will decrease which will cheapen the cost of mining.

It's only because of this insane hype cycle that's falling apart that it's so expensive to mine in the first place. I'm not scamming, it's just too much too soon.

you do not understand bitcoin

every 2 weeks the difficulty will drop until mining becomes easy if almost everyone turned off their mining rigs

no one using or speculating in bitcoin really cares what the mining cost is, that is for the miners to worry about.

No, you simply have no idea. If it dips below $300 for even one second, the buyback will be like you never seen yet. So the market does not agree with you; it's either everybody who has alot of money is stupid and you are smart, or the other way around. Unfortunately for you.

OP, based on your sound logic, you should be buying all the beanie babies right now. This is a second shot at striking it rich, since we all know beanie babies will skyrocket in value again someday!

+1
Op is retarded

And what exactly is it to make you think that it'll come back up from $20?

Why $300? Sure, there is probably a lot of money ready to buy back in, but wouldn't most have already started buying since the price is so low anyway? Or is that price just a psychological barrier of some sort everyone is waiting for?

You dont want BTC at $20, it would be game over at that point. Upper 100's is realistic, but still an outside shot.

if BTC ever drops to this $20 like you say it would be the end of BTC, would not be worth the price in electricity to mine it and the networkwould shut down.......

Bitcoin will not go below $300.

You don't know that.
Perma-bulls would have said (they probably did) what you just said about the $400s when we were at $1200-$800

And look at it now, high $400s are now resistance.

Highly unlikely that it will drop below $200.

The trend line that started from the $2 low in 2011 is currently hovering at about the high 100s and soon will be over 200.

Bullshit! Blackcoin has never been 600.

lol it won't reach such a value evr, nearly impossible without being death, that value mean dead

at around 100(if will ever go to that value) a super panic buy will start, you can't even imagines

Cheap Bitcoin eh? Everyone will hate it if it still continue to drop..

Yep, OP has stupid logic for wanting to see $20 coins again.  There's something that you are forgetting here, it's called 'market confidence'.

For example: If Facebook's stock fell from $79/share (today) to say $3/share in 10 months, investor confidence in Facebook as a company would be completely shattered.  NO ONE would be buying Facebook shares at $3.  NO ONE.  Except maybe you OP.  And there you'd be sitting, with your huge pile of $3 shares that you'd never be able to sell back to anyone, or even for a profit of any kind.  No one would care about Facebook any more as an investment, and they would move on to something else.

If the bitcoin price went to $30 or even $20, it would probably take a full 5+ years to recover to where we are today.  Or maybe never.  Is that what you are hoping for OP?

But... but... you cry, the bitcoin market went from $30 --> $2 in 2011, and it eventually recovered!  Yes, but market confidence was so shattered that it took nearly 2 years to recover from that.  So 2 years from now, will the OP still even have the bitcoin that he bought today?  Somehow I highly doubt it.

Bitcoin isn't a stock and it's not a traditional investment. It's certainly not a company turning over dividends and profits every month.

It's just an idea, a 20$ Bitcoin still makes it a 500 Million dollar idea. (for f's sakes!) Somehow I'm the crazy one.

Someone basically figured out how to maintain an online ledger, basically a spreadsheet with 25 million rows that are divisible to 8 decimal points. They spent processing power to generate these rows and they sell them.

That's all it is folks, just an idea. Facebook is an operating entity that returns a profit like a machine, Bitcoin is not.

OP you're missing one thing --- other cryptos. Bitcoin may eventually go to 20$ while PeerCoin reaches 1000$ for example. Then you'd be a stupid fuck for buying into a dying asset :D. Anyway, market confidence sets a limit to this downfall. However, I can understand OP's logic --- he got out and now it only profits him if many other people get out too. I did similarly just before PeerCoin's last parabolic rise. I quickly bought in and started spamming the crap out of the trollbox and forums telling everyone about Nubits. Made me quite a nice profit but such propagation is very subjective and thus should only be taken with a grain of salt.

It's not going to happen, nearly all crypto have and will continue to scale down linearly with Bitcoin (if not worse). I feel terrible for the majority of alt traders these days. If I had invested in Mastercoin or Auroracoin I'd have jumped off a building by now. :)

I'm not spamming for the purpose of lowing the price, this is just a BC discussion board, this shouldn't affect the price at all. Crazy to think a couple posts could throw it one direction or the other.

My main point is who cares how cheap Bitcoin gets, we know it will someday be something huge, might take 20 years but we have the benefit of watching all others lose confidence around us and piling up Bitcoin in the mean time.

After the 2011 surge, prices dropped from $32 to $2. The sentiment was the same as now, but a lot of people entered into Bitcoin since then.
After the 2013 surge, prices dropped from $270 to $60. The sentiment was the same as now, but a lot of people entered into Bitcoin since then.
After the 2014 surge, prices dropped from $1100 to ~$360. A lot of people are entering into Bitcoin now.

The resistence is growing strong. Volume is going up.Strong hands are buying what weak hands are selling. The end of the bear market is near. $30 is just bearshit.

You are so naive. Have fun losing the rest of the 500 million dollar idea if it gets to $20, while the rest of us have moved on to other markets. The only plays at that point will be very short term trades all the way down to $0.

I've sold plenty of BTC between $400 and $570, but wanting it to drop to $20 so I can buy a ton cheap with the same amount of money is just stupidity. If it drops below $100 and stays down there, I'll start moving my fiat away from crypto entirely. And in the 20 years you wait, something better will come along and make $0 BTC final.

Why, Thy said will not go under 500, not go under 400, why would not go under 300?

Unless you're selling your bag as we speak, what makes you think you'd be selling it @20?  At what price will you consider your BTC holdings "[your] bag"?

$20 Obv. Sharpen up Brony  ;)

>@20 Bitcoin will be your bag
>∴ it won't be your bag @ anything above 20

http://s8.postimg.org/it7hl7l05/logic.png

Well we are headed towards a REALLY slow price so if you are a whale now, get ready to dump or either have balls and hold. There will be a redistribution of current Bitcoin economy which is ridiculously unfair. A second chance for people is what we need, so let it crash and fuck super early luckfags.

I wouldn't want it to crash just so it fucks people who got in early and have believed in Bitcoin so far. I would rather I would have gotten in earlier. Anyway, what happened to all the naysayers here, now that the price is on the rise again? Over $400. Got tired of looking stupid?

*cough*

Didn't Bank of America estimate FMV to be around $1300 a year ago?

Technically (though not psychologically), price has absolutely nothing to do with market instability. There is absolutely no technical reason, and not even many good psychological ones, why Bitcoin can't fall to $20 and stay there.  If you look first at price to determine the strength of the market, you're doing it wrong.  Price is *only* reflective of market strength/weakness when explained by mediating variables.

Edit:  I wouldn't count on $20 anytime soon, though  :D

Ill eat roman noodles for a MONTH solid if any of you who think BTC should be 20 bucks, Ill buy em off you for that price.

Because it already hit the bottom, the only way is up..

I think they were talking about the maximum possible FMV.

There is no bottom actually. When enough people decide to sell price will move down to any level.

It depends. When you pass a certain low treshhold the value enters a battle stage between boat jumpers and people that want to get in the boat. If the people that want to get in the boat want to get in big time, they will and the price will start going up as more people regret selling. Nothing guarantess a 0.xx scenareo once you pass what seems a very low price.

There is no top either. When enough people decide not to sell the price will move upwards to any level (this has happened repeatedly in bitcoin's past five years).

Ha, the top will be infinity if you compare to fiat money.
Fiat failed each and every time through history.

Now a good move and safe move is to buy at lease 10~20 bitcoins and even if BTC fails its not a big deal, but when it reaches a million users, you'll be a very rich dude!

why do you say "Bitcoin is tanking"?

Give it time, give it time... we should be back there by next weekend. :P