Many posts on Bitcoin tanking possibly to double digit figures,but surely the price can't keep falling below what it costs to mine a coin. Many miners must surely be pulling out at these prices?
So you assume miners must have a profit? If price drops to double digits they'll simply have a loss and get out of business, simple as that. Price doesn't depend on them, they depend on the price. That is my point - Miners go out of business because it is not profitable, this means less supply on market which means price should rise - miners get back in. Therefore until all the coins are mined the price will/should depend to some degree on miners. If it is no longer profitable to mine then the total supply of coins will remain at 13mil. The bottom price of Bitcoin should really be above the price of production. That doesn't matter if demand decreases even more. If there's a panic, loss of faith, major collapse or something else like people turning to a new invention, price can stay down permanently. |
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Many posts on Bitcoin tanking possibly to double digit figures,but surely the price can't keep falling below what it costs to mine a coin. Many miners must surely be pulling out at these prices?
So you assume miners must have a profit? If price drops to double digits they'll simply have a loss and get out of business, simple as that. Price doesn't depend on them, they depend on the price. |
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You really need to show some proof, if you know there's been a big dump or going to be then put a link to it.
Anyone can just say it's going down, you're got a 50/50 chance that your going to be right.
Not really, considering we're in a downward trend entire year, more like 80/20 or 90/10 |
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All bow to igorr, he's a prophet!
He was true in the end. I should have listened, but how could I have known he was true. Well, he's only half 'true'  He spotted the trend that mining is not sustainable long term, which is true. He spotted bots hyping the price on some exchanges, which is likely, but cannot be proven. He says to exit to fiat, which is supposedly a safe haven, which is total bull shit. As you can see, there is a grain of truth in his words, but far from all of what he says. It is usually like that for what everyone say; Schiff is right on most subjects but he has been wrong on Bitcoin ( https://www.youtube.com/user/SchiffReport) Actually, it's exactly the opposite, Schiff has been dead wrong on most subjects but he's right about bitcoin. |
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Prices dropped to 371. This is a big event in terms of bitcoin's image. Nobody will want to trade it anymore, for a while. This is not a sane market, where you can loose or gain 20% in a day. I presume we'll eventually hit 266 mark and stay low for the next months, maybe a full year.
I'm confident in BTC as a technology but the speculation shit has come to an end. I feel sorry for the folks that bought with dreams of get rich quick and lost a shitload of money.
It feels painful to see what happened last 8 months. Prove me I'm an idiot, prove me I'm wrong but I think the bottom is much much lower and a trend reversal is at least a year away.
Servers them right. That's what happens when you try to get rich quick with no actual work. The lower the price gets, the nicer it is to see these idiots get financially ruined. Why would it be nice to see another man's misfortune? Well, those who lost intended to get rich at the expense of the others, but it turned out the others got rich at the expense of them. Why feel sorry for them? They knew they could lose, but they were too greedy and proceeded anyway. |
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 Pretty senseless post, this is a form of coping, i am afraid right now. Wanted to make a poll but don't know how or if i can. Good wishes to everybody here Don't listen to the doom and gloom assholes above me, put them on ignore. Bitcoin will absolutely be over 600 again and way beyond that, just a question of time. I can understand you are scared, but this is the time to put your coins in cold storage and forget about them until next time the media starts writing about bitcoin price explosion. If nothing else, stop reading speculation forum, this place is unhealthy. Bull scammer detected, Ignored |
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OP, you might wanna erase this topic. People are laughing at you.
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I guess P.T. Barnum was right
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Bitcoin works regardless of the price. There is nothing to worry about, even if it drops below $1.
Sure, it might still work but where is my $70,000 that i invested? Guy who was getting out at the time you were buying, has spent it on the new BMW. |
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We are not early adopters, stop sprouting this BS. Early adopters are only those who bought for $1. Everyone else is a laggard.
Everyone has heard about bitcoin and people purposely ignore it. It's already mainstream and nobody needs or wants it.
you are wrong, adoption is growing at an exponential pace. anyone holding bitcoin today will be rich in 10 years. Bull scammer troll, Ignored. |
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Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."
everyone was waiting for the buying opportunity, well there you have it.
the only form of money better than gold in the last 3000 years is on sale at the same time as the entire world uses a paper money system that has never worked in the past,
if you don't see the stars aligning you don't deserve to be rich.
Except he wasn't talking about cryptoshits. I think the Exxon buyers who followed his advice are really happy now, right? Think of what you are saying. It's $418 now, CHEAP, go buy! Go buy, GO! You won't, because deep inside you know it's a scam destined to fall to $100 and more. bitcoin is not a scam, its the best form of money humans ever had, for the first time ever beating precious metals. Yes, it is a scam. Nobody cares about bitcoin as a currency, everyone is in just to get more dollars later. It's basically a tool for wealth transfer from those who buy low and sell high and those who do the opposite. Bitcoin doesn't gain or produce any additional capital, entire market cap is just a speculators' money. But in order for someone to profit, someone else needs to lose. And without new suckers pouring in the fresh capital, it is not sustainable and bound to drop due to increasing supply, and decreasing faith in it and dumping. |
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You bought too early, bitcoin is still ridiculously overpriced. $450 for a single bitcoin? Gimme a break, anything above $50-100 is a total madness.
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Bitcoin is dropping again! What is happening?  It's going towards its intrinsic value. |
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Bitcoin will never again be more than ounce of gold. I'm by no means a gold bug, but it's the psychological barrier it cannot break any more. Considering gold is currently in a bear market and soon to be sub $1000 there's an answer to your question.
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It is possible but HIGHLY UNLIKELY. I'd rather bet on $200, even $20, than $2000.
If you say so... How dare you, a mere senior member, question an all-knowing junior? Why the next thing you know heroes and legends will start thinking they know as much as noobs when noobs clearly outnumber them. If you've known about Bitcoin for more than a few months, you're obviously living in the past.  Being a newbie is a good thing because you're unbiased. Senior members think the Sun revolves around Bitcoin. Yep. Ignorance and guesswork are preferable to knowledge and experience because knowledge causes bias. LOLOLOLOLOLO hahahahahahaha    How old are you, child? Let the time tell who was right. I've seen enough "knowledgeable and experienced" members being dead wrong with their wishful thinking predictions. |
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It is possible but HIGHLY UNLIKELY. I'd rather bet on $200, even $20, than $2000.
If you say so... How dare you, a mere senior member, question an all-knowing junior? Why the next thing you know heroes and legends will start thinking they know as much as noobs when noobs clearly outnumber them. If you've known about Bitcoin for more than a few months, you're obviously living in the past. Being a newbie is a good thing because you're unbiased. Senior members think the Sun revolves around Bitcoin. |
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It is possible but HIGHLY UNLIKELY. I'd rather bet on $200, even $20, than $2000.
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Another bull proven to be dead wrong. Bears predicting collapse to 0 were closer (missed only by 470), than bulls estimating four digits.
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I can't see 10K in 3 years. Remember 12.5 BTC will be created every 10 minutes that need to be absorbed.
Could you see the previous 10x movements upward every year preceding this? What is the difference? Bigger the market cap, more difficult and less likely to have 10x upward movement |
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LOL Segways !! you can't ride a Segway without looking like a "smug dork." And people generally try to avoid looking like that. Conclusion: "So the biggest difference between Segway and Bitcoin might be that even mall cops won't use Bitcoin." |
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