randy8777
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June 09, 2015, 10:11:33 PM |
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imho 2014, because there were much more merchants, companies and business involved..so overall impact was bigger for sure.(
most of the merchants use bitpay to convert their bitcoin sales into fiat. which means that they don't suffer even when there is a huge crash. |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Dafar
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dafar consulting
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June 10, 2015, 02:58:35 AM |
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You couldn't short back then, so everyone benefited when bitcoin increased in price = everyone was on the same side
Now with shorting some people benefit when the price goes and people purposely crash the price. Fuck the shorters
Also, 2014 is worse because I got into bitcoin.... everytime I try to make money I fail miserably, sorry guys, pretty sure I ruined it for everyone. As long as I hold on to my bitcoin, we will NEVER see another ATH. The universe hates me
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Melbustus
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June 10, 2015, 04:46:22 AM |
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2011 was MUCH worse. Hardly anybody knew about Bitcoin, nobody besides a bunch of geeks on this forum cared, and it was a very real possibility that the price-crash would kill the momentum necessary for the world to take notice of this fascinating new technology/money.
Contrast that to the current depression, where yeah, price has been down for longer, but now Bitcoin has major champions at all levels society, from entrepreneurs, VCs, big financial firms like Goldman and NYSE, and many others. The biggest battle - getting over the initial mindshare hurdle - is thoroughly behind us. There are certainly still adoption risks, but nowhere near as severe as in 2011.
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Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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sandy47bt
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June 10, 2015, 08:43:43 AM |
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Of course 2014's was worse because bitcoin market cap was greatly decreased & there were many people using it  And after than there aren't any huge pump, some people even that big crash would happen again |
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ammy009
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June 10, 2015, 10:42:46 AM |
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crash in 2011 was worst ........ because price dropped from $32 to jut $2
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lissandra
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June 10, 2015, 11:54:26 PM |
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crash in 2011 was worst ........ because price dropped from $32 to jut $2
well that seems very comparable to 2014, when it was like dropping $700 to $600 right. both are 100% price reduction. |
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bornil267645
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June 11, 2015, 04:33:40 AM |
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I think the crash of 2014 was much worse simply because,
* Bitcoin was at an early age in 2011 so it was expected, but in 2014, it was so much evolved and integrated with economy. So it meant much more critical drawbacks.
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windjc
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June 11, 2015, 04:44:42 AM |
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Depends on what you mean by "worse."
More money lost by traders? Yes, worse. More money made by other traders? Yes, not as worse for them.
Innovation? I don't think it had an impact on innovation.
I don't really think either crash mattered more than they were/are just a cycle of things.
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Amph
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June 11, 2015, 07:08:51 AM |
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crash in 2011 was worst ........ because price dropped from $32 to jut $2
well that seems very comparable to 2014, when it was like dropping $700 to $600 right. both are 100% price reduction. what? something is wrong from a math point of view from 700 to 600 there is only 1/7 reduction in price, which is about 14,2% from 32 to 2 it is a whole different thing, there is a reduction of 30/32 or 15/16, which is 93,75%.. |
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Cconvert2G36
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June 11, 2015, 07:19:23 AM |
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Feels wrong to compare a crazy day spike to $32 to an 18 month slide. The best price in June 2011 was much more likely to be $17 than $30. Somewhat similar to the spike to $266 in mid 2013, it more than halved in a day when gox soiled the sheets. The 2014-15 bear is a completely different animal, not a blow off top, but a slow, excruciating, grind down over many months.
The early crashes were worse in severity, but nothing like this bear in terms of drawn out torture.
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avatar_kiyoshi
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June 11, 2015, 08:05:06 AM |
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I used to think it was 2011's because 30 -> $2 is a 95% crash. And people thought bitcoin was truly dead. But bitcoin bottomed 5 months after the crash.
1200 -> $152 was "only" an 88% crash, but 18 months later, it's not clear that there's even a bottom.
Which crash do you think was worse?
The worse crash I think 2011. 2014 is not different, since in 2013 price reach $1000. |
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vrzo
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June 11, 2015, 08:11:31 AM |
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I browsed through my old emails and noticed how I asked my sister if she could buy me btc for $130 at about $4/BTC in 2011. (I first bought them at about $14 on the way down from the 2011 top). I gave her the money but she didn't buy because she was afraid to send money to unknown (Gox) account. That really sucked because now I'd have 30 btc more. I could have bought them myself, but the bank fees from my country were so high.
In late 2011 and 2012 I was busy with my work and didn't think much about increasing my btc holdings (a mistake). I don't recall I felt scared or lost faith in BTC because of $14-$2 drop.
2014's crash was expected, but I didn't think it would last so long considering all positive development in last 1.5 years. I even recommended buying btc on the way down from $1000 which was a mistake and I'm glad that none of my friends did it.
However, now might be a great time to invest - no btc price rising news frenzy, no post-baloon doom frenzy. The price looks stable, and the next rally might be days or just few months away. If I had to bet I'd say it'll be $230 - $3000, but I'll probably be very wrong (i.e. $100 - $10000; few small baloons...)
For bears - there's no possibility of price staying in this range much longer. The number of users, VC investment and transactions is growing - the $3B ($30B also) MCap is simply not enough. The bitcoin price can go to zero (10% chance of unexpected event/bug/altcoin...), but it cannot stay below say $2000 for more than a year.
This is one of those rare situations when a (positive) investment outcome is almost certain, just nobody invests heavily. You can wait for a buy signal (i.e. price crossing $300 or $400), but why earning 5x when you can 10x.
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