Let it crash

[imapessimist]

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year.  All small holders get their money out now.  Let it fall.  And then buy back low.  Then everyone will get a chance of cheap Bitcoin not just whales. 

[tuskacz]

Big miners put huge money in this business so now they won't allow bitcoin to crash.  They are not interested in low bitcoin because mining would be unprofitable. If you want low prices you can buy altcoins, like litecoin or ripple.

[promode]

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year.  All small holders get their money out now.  Let it fall.  And then buy back low.  Then everyone will get a chance of cheap Bitcoin not just whales.  

If the price is low, Big Miners will either stop or switch(Not an option as of now). This is scary  

[Arngrim]

I agree with tuskacz and it is not just because of that.
The payment for the electricity will be getting higher and they would the money to pay for that.
It needs to be valued more so that they can continue on what they are doing.
With low transaction fees it will not be enough also for those bills to be paid.

[imapessimist]

I just had this thought when it looked Bitcoin was totally crashing.  But it has gone up again.  Should we worry to much about miners as they have probably made a lot of money already.  But many ordinary people have lost money. And there is Bitcoin already so would it matter to much if miners stopped mining. 

[WalkinRobbie]

i need to drop to $50 again so I can buy in big.  This will be a constant 5 year cycle now for whales to 5000x their money.  So dont buy now  let it keep dropping  this will be a 5 year game over and over and only the poor folks who have money at a specific time to invest will also win this lottery so investing now is only slowing down the invitable, the whales will drop to nothing then rebound to 20k then drop to nothing then over and over and over.

[n691309]

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year.  All small holders get their money out now.  Let it fall.  And then buy back low.  Then everyone will get a chance of cheap Bitcoin not just whales. 

But what if you missed the dip and woke up one morning and the bitcoin price is more than 11.000 USD?
what you need to cut your losses and have some balancing on you bitcoin is to buy more on the dip. don't let whales have their money on bitcoin and make the chance get out of your hands.

[Bitophile]

And there is Bitcoin already so would it matter to much if miners stopped mining. 

You need to put some time to study about blockchain and how it works. If there are no miners, there are no transactions. Ofcourse, if ASICs are out of the picture we could mine using GPUs or even CPUs, but I don't think it will happen.

[HitbtcSCAM]

Crash? it is up 40% from october, get a dictionary before you post here, what crash
wall street can not do 40% gains in 4 months and you talk about a crash?

[marjil]

I agree with tuskacz and it is not just because of that.
The payment for the electricity will be getting higher and they would the money to pay for that.
It needs to be valued more so that they can continue on what they are doing.
With low transaction fees it will not be enough also for those bills to be paid.

Eventually some though that makes sense. Yes this is true, if miners doesn't pay electricity can hold for a while but eventually they would go broke. And without miners there are no transanctions and if there are no transactions there is no currency value. So instead of hoping and dreaming of bitcoin value 1 million one day in the long term. We should think what will happen if miners don't mine. I think very few have understood this so far.

I don't think the miners are bothered one bit. They will always mine bitcoin to confirm transactions because all that will happen is that mining fees will go up. If you want your transactions to go ahead it means you will need to pay higher fees to the miners. This has always been the case and that's why we have seen very high fees to transfer bitcoin.

[RNC]

If the price is low, Big Miners will either stop or switch(Not an option as of now). This is scary  

No it's not and this is fantastic because we have far too many miners anyway by a factor of over ten and the ones
that remain might not rip us off like has happened in the past.

Celebrate when most of them go not that many will since they are running the banker hubs on Lightning and
are hoping none of us noticed.

[Cryptoman69]

For me I keep hold it. bad decision will make useless to our self. We know that the bitcoin price is only temporary, and to none of us also ever repay until in the end.

[shield132]

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year.  All small holders get their money out now.  Let it fall.  And then buy back low.  Then everyone will get a chance of cheap Bitcoin not just whales. 

Yes, let it crash, I would enjoy this fact but what if this crash will be much and people lose faith in rise of bitcoin's price? + there are great alternative coins with less fee and fast confirmation time, at least pretty improved. And consider the fact that bitmain turned from bitcoin to altcoins too, they play a huge role in mining business, don't forget that.

[HitbtcSCAM]

It is not crashing crashing is when something goes down! Bitsoin is up 40% from october, wall street can not do that
You need to learn to read the charts on the long term

[ClownSpider]

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year.  All small holders get their money out now.  Let it fall.  And then buy back low.  Then everyone will get a chance of cheap Bitcoin not just whales. 

Yes, let it crash, I would enjoy this fact but what if this crash will be much and people lose faith in rise of bitcoin's price? + there are great alternative coins with less fee and fast confirmation time, at least pretty improved. And consider the fact that bitmain turned from bitcoin to altcoins too, they play a huge role in mining business, don't forget that.

Alt coins drop when bitcoins drop.  Look at ANY chart.
because Alt coins are only good for exchanging for Bitcoin if you ever want to buy anything.

[Mihaylovic]

Would the best thing to do now not be to get out now while Bitcoin is worth at least three times it's low price this year.  All small holders get their money out now.  Let it fall.  And then buy back low.  Then everyone will get a chance of cheap Bitcoin not just whales. 

This is the limit. the price is now around the cost of producing it. so if it goes below and stays there for longer, it will be something that noone is going to benefit. If mining stops all system crashs.

[okae]

... Then everyone will get a chance of cheap Bitcoin not just whales...

Cheap bitcoins is a "relative" term, will be bitcoins cheap now if they reach 500k in 10 years? people seem to be always trying to buy integer numbers and forget the fact that what now seems to be an small fraction, in the future, this "small" fraction could be "huge"...

[GreenPowerRanger]

They wouldnt let it crash to zero. Before this happen many rich investors will buy all the bitcoins very cheap and hold them when its needed for years to sell it high again. So dont be stupid and sell you coins with loose. Hold them and wait. It will take maybe some months for market to recover, but better to wait then sell with loose.

[hackzang12]

Somebody manipulating bitcoin prices. I hate people who sold their coin when market is down. Please hodl your coins guys it's not healthy at all. Bitcoin price will increase very soon. This crash is normal just like what happened last year's dip.

[coolcoinz]

Somebody manipulating bitcoin prices. I hate people who sold their coin when market is down. Please hodl your coins guys it's not healthy at all. Bitcoin price will increase very soon. This crash is normal just like what happened last year's dip.

They are not only manipulating the prices but the news as well. Somehow JP morgan is banning Bitcoin purchases right at the moment when it started to go down in price.
If you add to it some previous facts like:
-JP morgan CEO saying Bitcoin is a bubble
-JP caught trading cryptocurrency
-CEO changing his mind about it and saying he was wrong about it
-His bank banning Bitcoin

You can really see a pattern here. They are obviously trying to lower the price to profit from it.

There are other similarities around the world like Russia banning Bitcoin today, about a year after the first rumors that it could be working on a centralized cryptocurrency.