Bitcoin Forum

Hello all ,
Why people are happy about the prices drop
I ask a miner he said that he is happy too why ? his profile will drop also

He must be high....Mining is like a business, if your expense is greater than your income you will go out the business, well in this case the mining.

I'm happy for the drop in Bitcoin to USD price.

• Lower price means lower barrier to entry for new users
• Lower price potentially allows others to get in at low prices (IF that to-the-moon talk becomes a reality)
• Lower price puts to shame all the people who declared with absolute certainty that the price would just continue to grow and grow in 2014, without any sort of basis of fact for them to make that call

There is high probability of that the newcomers are scared out of bitcoin. But exceptionally for the faithful bitcoiners, they will be happy to accumulate thier bitcoin stash.

maybe he plans on buying at these low levels and also hoping difficulty will drop.

To be honest, I do not understand for the price,too.



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As a miner, I don't like the price drop at all. I feel it will drop to $250 over night. If that is the case it will no longer be feasible for me to mine. I will have to switch off my miners and see how things flow out. I don't mind if the current BTC I have will drop to something worthless but I will not lose money running miners for nothing.

There is no reason to be happy. This will turn off a lot of miners. If we lose a big portion of the hashing power, how much power will there be before transactions take too long to process. New people will not be getting in either since the risk of being scammed is quite high and the returns are low. There are FAR too many people using online wallets, keeping their BTC online.

Bingo. The above poster that mentioned his miner friend was "happy" -- that's an anomaly. Maybe that person is planning to buy coins cheap at a scale larger than his mining operation. Because otherwise, miners have nothing to be happy about.

Well I am not happy with the drop. But then again who knows what Bitcoin will do in 5-10 years.

The network is far bigger then needed atm. The big problem with bitcoin, the hardware armswar, will be contained a bit by this. That's why the miner from the OP is happy. You needn't worry about slow transactions, the bitcoin network grew much too fast, because of the hardware armswar. Satoshi himself warned after the development of ASIC, that ASIC companies should agree to a gentlemen's agreement that the HW slowly be turned up, yet we all know how that went.... In my view, the problem with bitcoin is that we as a people are not ready for the responsibility the decentralization of bitcoin (crypto)tech provides us. It's way ahead of time, because the revolution on moral grounds to end corporatism that's destroying our only planet hasn't started yet... The tech is here, yet the will and the sheeple aren't ready yet.

In that way it makes me think about communism, if people were perfect and really equal in their hearts, communism is the perfect system, yet man is not perfect, and therefore communism can't succeed, because greed makes people wanna have more than the other. It's also a shame that the biggest movement that wants to change that, Zeitgeist, doesn't see bitcoin/crypto as a way to distribute wealth equally, yet as purely as a new kind of money, which they wanna abolish in the resource-economy. I think crypto IS the way to be in resourced-based economy, no manipulation, fairness by protocol, only the distribution will be the challenge :)

I am not unhappy. I never bought BTCs but now I am thinking I might put some savings into it.
I will see for a few days to see whether this is the bottom.

No way a miner could be happy. He needs to take care of fixed cost like electricity and hardware depreciation factor or else no point for the guy to continue mining. On another note, if we look at it positively...

As price drops, I hope it will reach the state of equilibrium of neither being overpriced or undervalued, this will deter speculators from causing price volatility
Give a chance for newbies who were previously hesitant about bitcoin, a chance to grab some stash of bitcoin or in other words, helps coin distribution

If you believe bitcoin, the low price means you can buy more bitcoin with same money.
It will come back anyway. ;D ;D ;D

I'm happy if i can buy bitcoin while the price low & after that the price become high again ;D
Most of bitcoiner will think so too

The problem is the price is on a constant decline so no matter what price you buy in there seems to always be a lower price incoming within a month. Hopefully after the weekend it jumps up to 300. Guess we are back into drops on weekends

The weak holders who aren't going to be here long term or bought too high are being driven out, this will mean something interesting is going to happen to the price in the next couple of months.

People who are looking to buy themself some extra coins are happy, yes.

Don't think miners are that happy with current price decline.

Now we can buy more bitcoin for cheap!

if you did not buy it on 600 dollars then its good but there were people who thought it will raise from it and bought back then now its almost 2x down

Game over, electricity bills is higher then bitcoin I mine, so why is everyone so happy about making losses?

I am so feeling cheated, I bought some bitcoins 3 days ago and damn what is this, I lost so much in just 3 days. I am now thinking of trading them to litecoin, is that feasible now? I probably should have gone for litecoin from start.

Don't sell man, you just had some bad luck, one piece of advice, never in dec jan, those are expensive months where many miners, btc holder and bitcoin accepting companies will sell more then normal, hence the price drop. If you believe in the tech, then your investment is long term :)

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It's not about the losses.
It means we are close to the bottom when you (and everyone else) have to quit mining.

Maybe he has free electricity (ie included in rent) and he's hoping for the difficulty to drop.

Or maybe he's just generally happy with his life  :)


Litecoin got hit even harder than BTC.

You feel cheated by who? You're responsible for your own actions.

Im a long term holder and even if the price goes really low it just means I can buy more cheap BTC.

True, but the lower it get's, the more you could have bought when you sold at the top.

maybe because he think the diff will decrease too? i see no other reason baside baing crazy, or he wait the price to crush even further to buy a tons

i love the price drop. i am a miner and trader. i will still make money trading. People WILL eventually STOP mining and make the difficulty go down :) ++ for me

Are you sure he was a miner and not just a troll? The only people who seem to be happy when the price drops are those who want to buy in or like spreading fear about bitcoin for whatever reason (usually just trolling), but miners definitly don't want the price to go down but the opposite.

Im really like when price drop ;)

it's never a good time to start mining bitcoin,
it's never a good time to stop mining bitcoin

I'm happy that Bitcoin price dropped so much.. Well, one of the many reasons is.. Freebitco.in will be paying more. Two weeks back, it is paying 500 Satoshi per roll. Today, it is 700 Satoshi per roll! If Bitcoin price fall even lower.. it might become 1000 Satoshi per roll. After getting some Bitcoin from it.. sometime later.. Bitcoin price will rise again. And.. I'm (we are) winning! :)

Of course -- anyone would be happy to buy low and sell high. The question is, is this "buying low"? Or will it go much lower?

i m not happy with low price
i m a trader not a big mining rig owner who is happy because of less competetion
i m trading & holding bitcoins

so did you buy?

I'm pretty happy, the last three days were pure comedy gold.
Can't wait to see what wacky antics you Bitcoiners come up with next!

I hate to say it, but I've been hearing this for so long now, that I have to think -- most with this attitude already bought in (or bought back in) a long time ago, at much higher prices.

Your mining friend is either:

1.) Really bad at math
2.) Lying in the hopes you'll want to purchase his rapidly nearing 0-value mining hardware.

Cheap coins for the regular joes and bad year for miners. Now where are those speculators that they predicted that price will sky rocket in 2015 :P

Well we are still in early 2015 so lets how bitcoin will do this year. But i believe the recent price drop is due to bitstamp getting robbed and trading being halted in that exchange.

Don't forget the traditional liquifing of assets people do in december and januari, also Bitcoin or other cypto's, wait and it will climb again...

Sure, if you want, you always can find a reason to happy, which is you can get more cheap coins. :D

Happy if price drop it's mean time to buy more bitcoin

would be very happy if the price rises, that's means I can sell bitcoin that I hold with a high price ;D

Is now the time to buy in big or the current value could go even lower?

If you plan to hold long-term doesn't matter if you buy at 280-290 , in worst case price could dip to 260 (less probable)

I`m very much agree with you.. i will be veru happy if, im bought it on the cheap and sell it at a price of more expensive  :D

It has already dived under $260 few days ago. Why do you think it's not probable?

Hard to say what will happen when BitStamp re-opens. They'll likely have to buy back the stolen 19,000 (if they didn't already). This can drive the price up or down.

But yes, if you're bullish on bitcoin and are here for the long-run, then the current price movement doesn't matter too much.

I know that price was around 260 few days ago and is less probable that will be again 260 sometime

Is there a price more stupid than 260$ ? Merchants can't do nothing with this price, it's not handable in all currencies. Personally if I have to hack an exchange, I will not steal any coins with such a value of 260$

well seems hackers have a different opinion , if today a coin has a value of 290$ doesn't means it will have the same value in the future...

Price increase all happy  ;D

yep happy to buy :D
bitcoin is very cheap now

don't cry bag holders

If bitcoins price drop, then good, we will get rid of all the capitalist opportunists who dont understand bitcoins. Let bitcoins fall so we the ones who back up the original intention of bitcoin can have a payment currency and transaction without any government or established capitalished.

Actually i'm not happy too much if bitcoin price down since i don't have a lot of money to buy bitcoin
But, if bitcoin price rise up i'll be extremely happy

But there's always a continuous flow of people waiting to get into bitcoin so this is their time. Regardless of the price some people still can see the value of bitcoin and it's possible that the price wont always keep dropping. IF it catches on hopefully the opposite will happen.

Bitcoin price is not a problem for merchants who use a payment service as they get fiat for every purchase made.

It may be a problem when merchants hold the coins while value is decreasing.

Only a tiny percentage of merchants actually hold the coins.

Isn't that the main issue with the bitcoin at the moment? These merchants who immediately sell are quite likely undercutting the market and dragging the price down. If everyone started selling their precious metals and competing for sales, the price will drop. The same thing is happening with oil. Down to $40 a barrel because the US just wants to dump it. What is it doing? Killing economies.

Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.

If miners stop mining difficully drop also ?

Yes if the network hash rate reduces in speed it will drop down by x amount like it did a few times in Dec 2014 last year but soon went back up as more went online. In all honestly BTC mining is end of days now unless you got some serious TH power and free energy. I remember grabbing one of the first Avalon units and making 2 BTC per day with that with 60GH speeds now you need like 35TH to 40TH to even produce 1BTC per day due to the amount of  hashing power that is come online and is currently going on. By mid 2015 people are going to need at least 100TH basic to make anything and the power that is going to be eaten up by that is going to be stupid amounts. I have close to 1TH of power that's sitting collect dust now because it is not worth it to mine based on mining to power use to cost to result. The only time my units come online now is if a new alt coin comes along and I mine it at the beginning and after a few days soon turn off again due to some massive miners all jumping on it.

Then you didn't replace your HW fast enough, SP20 or antmiuners s5 still produce profit, even with this low exchange rate... It's all about power to gh/s ratio. And you''re predictions of 30 ths to produce a fair amount is a bit strong, with 5 th/s you still rake in a decent amount of bitcoin, it's all about expectations :)

I dont think under any circumstances would miners be happy about the price dropping.
Thats like being happy after your boss calls you into his office on Monday morning and tells you from now on you will be making only 80% of your currently salary.

I am not happy the price drop.
Actually, the price risen up will attract more people buy in.
It's better for the development of bitcoin.

The low price could also atract people to buy. They'll speculate to sell it on higher price later. What comes down, must come up and the other way around.

I can't see any relationship between price and development :/

As a bitcoin holder, I kindda sad for the price recently.

But If you sure that bitcoin will raise again, then it is the right time to buy since it's kindda low.

Just make a good speculation to make a good profit

He means more people getting into bitcoin because of the low price is better for bitcoin's growth aka development.

Who know bitcoin price can drop to 10 $ or raise 1000 $ anytime . Bitcoin is free

I'm not happy, because I bought at a price of $ 370, now the price is getting down :-[

These calculations are for tactics,
1. mining BTC
2. immediately sell BTC
in such a situation mining is becoming less profitable. If someone does not pay bills from the immediately sale BTC of a long time he not turn off miners, it seems to me

I wonder how the lucky ass early investors that made a killing like rpietila are feeling right now. Will they panic out before its too late and we do double digits? It must suck so hard being a super early investor and not having sold all at 1k.

Not only miners are selling inmediately, but basically everyone accepting Bitcoins that is moving legit amounts of money with their business (ie Overstock) are converting at market price inmediately. This is.. well, not good for the price. I wonder if Microsoft are doing the exact same thing.

Price now killed no one want this except buyers ?

We're feeling fantastic. We won't panic; if we go to double digits, we'll just keep on buying those cheap coins. Using the money we made by selling above $1k. Luck, my ass. 8)

Hello all people
this is my first post expecting not offend nobody.
In my view point:
price is not the problem for people who want enter on bitcoin world. The problem for me is speculators on market.
I decided in october to buy my first bitcoin, and continue to buy in this last months with long term view point and expecting to use on real word to buy things.
The medium cost for all my amount i got is $335, now $218, so I have a BTC keept that i dont want/can utilize because if i do i will lose money.
The future for bitcoin must be stability if it want to get in our real lives.
Imagine you go to the gas station and today gas cost 3$ and tomorrow cost 4$, and past $2.
It introduce a anxiety state in your life that nobody want.
If you are a new arrived on bitcoin you want stability if you are going to put your money there.
The final purpose of bitcoin and the victory will be to substitute the FIAT money, being really free.
If We all are in speculators hands ... not good thing.
If you people are being happy on low BTC rate now, because you expect to make business selling high in the future, you are not the better BTC evangelists, and could be better you get out of this world with all the speculators out there.
BTC need to be stable with a rate that can keep miners doing it work... essential for BTC support.


:::::::::::::::
free electricity  :o :o :o
... that doesnt exist ... and is not sustainable for long time unless they are robbing the electricity

Why so negative? Are you jealous?

this is life, where there is pleasure there must be sadness
life can not only with pleasure, not fair
so we should hve positive thinking

you're right, it made me wonder just how shops or other institution receiving payments at BTC settle wearing the measures. When investing in the stock market once you earn, once you lose, but exchanging real goods or services for BTC with such fluctuations courses is more hardcore than the russian roulette game.

Everything will not come easy you should wait btc , this is just a bad crash and we will see better price in the next months

I think this is a plan formed by some organizations and governments....

You forgot at the Top Banks , they all hate bitcoin , if they know how they can work with bitcoin
they will not fight it  ;) . One day they will and we will see the bigest prices ever

I think there is nothing to worry about. Some loose some win anyway  :)

I'm happy because all the bitcoins I lost gambling means the loss wasn't so big.

Haha and who sold their bitcoin 2013 for 5 $ are now happy ?

Obviously not happy. But it represents good buying opportunity and I am busy getting any funds which I can spare.
It will take time to break out but it will be worth the wait.

Not happy and I wish the price will go up.  I have no idea what impact the news has on btc.  It's just unpredictable to me.  I'm sure supply/demand/difficulty all factor in but if things generate more demand then it can be explosive really fast. 

Well the problem is that not everyone was able to sell at the highs. As it should be very well known, hindsight is 20/20 and most people probably did not have the forsight to be able to sell when the price was at 1k+

Yes they are, because all the bitcoins they sold means the price difference is getting smaller. :)

Low bitcoin price in USD means a great time to buy for faithful bitcoiners. They believe that the price may soon soar up and because of the low prices as of the current time frame, they'll have a nice profit.

Bitcoin is not stable currency. I know that. It was silly to thought that it will only maintain its value or go up. People who sold their coins in the early stage are truly unfortunate I think. But people who bought bitcoin for 400$ and now are selling it for 200$ are really fucked imo.

Yup. Fucked, indeed. I don't know why people nowadays dive into something that they don't really understand with a knowledge that they may gain something very nice in it. Greed consumes a person whole, that's why those dudes who bought in at $400-$500 are truly wrecked by the current prices.

Now we are on the edge of the mountain anytime price could drop anytime  :-\

T.T when i'm online and check it bitstamp... price drop.. and second online.... price drop again... why?????

I think that when the price drops miners get more bitcoin then they used to when the price was high.

I saw two things happen recently:
1. A big increase in difficulty
2. Exchange rates dropping

What this means:
1. It costs more to mine
2. Mines get less fiat for their BTC

At some point it is going to level off, where a large percentage of miners decide it is no longer profitable to mine (we already see this with cex.io/ghash.io). Another large percentage of miners who are still able to mine for a small profit probably because of cheap electricity (we see this with that  large Unknown miner). Over time, the exchange value for BTC will become stable. In my opinion the exchange value will drop to around $100-$150 before that happens. The up & down swings are making too many people nervous, especially large investors.

yes im so happy and im waiting bitcoin under $100  ;)

A miner shouldn't be happy in this situatuion. He has to pay maintenance to keep the rigs functioning. The lower the BTC price, the harder it becomes to run a mining rig.

If he was just someone who wanted to purchase BTC with fiat, I would understand that he is happy - cheap coins.

Big increase in difficulty happened before the drop, currently it's decreasing

Not sure about the bit-coiners. but some of the early new are very happy to buy bitcoin at a low price.

I don't know why, but I hate this.  :-\
Maybe anyone who love faucet will happy with this, because the price effect the faucet claim value :D

I take it as a wealth distribution. Everyone that wanted to get in in mid 2013 has been waiting for something like this to happen. At this point one is risking to wait for too long for that ideal price.

Some of don't think Bitcoin is here to take over fiat however we think that Bitcoin has a chance as a token-currency (like loyalty points).

Until Bitcoin gets to fractions of a dollar this won't happen.

It looks like it is stable enough where I can purchase some.

If the price stays here for long time, then creeps up slowly, then it is good for the bitcoin economy.

An investor is a person who allocates capital with the expectation of a future financial return. Types of investments include: equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc.

Bitcoin investors are happy when they get profit, raise or lower the price.

like always...
bulls are sad
bears are happy
Profit decides