Whales, here why crashing the price is a good idea

[RationalSpeculator]

1. The goal is to make bitcoin a more stable currency so that people are willing to quote prices more and more in bitcoin. Obviously it will take many years but those that sell on highs and buy on lows are the only ones creating stability. The permabulls don't add anything of value to the stability of the price and the emotional buyers do exactly the inverse. With the current price at $130 the emotional buyers (and permabulls to a lesser extent) have again lifted the price way above the long term exponential growth rate, time to give them a beating again and flush them out.  

2. so I can buy cheap coins  (hey, I walk the talk and did my part of the selling already but I'll admit I'm getting nervous this price ain't collapsing as I expected. Hence my outcry to you dear whale )

[1715459544]

1715459544

[rampantparanoia]

+1

more bitcoin plzzz

[notme]

Yes, feed my market making bot.  He's short from all this straight up shit.

[Birdy]

Because crashing hard is the best sign of a stable currency xD

That's just like saying "ashes don't burn, so to protect the forest from a forest fire, let's burn it all down!"

[rampantparanoia]

mass adoption is required before it can even be considered a currency. having the price crash, albeit a bit risky when it comes to seeing BTC as stable, would provide an opportunity for more people with cash and no coins to get in.

[RationalSpeculator]

Because crashing hard is the best sign of a stable currency xD

That's just like saying "ashes don't burn, so to protect the forest from a forest fire, let's burn it all down!"

Agreed that the price crashing also adds volatility. Ideally it just levels off and stays flat for a while.

However, this would only reward those that bought into the mania pushing prices even higher and punish those that went against the herd and sold into the mania.

Luckily markets don't work that way. If you have bubbles, you have collapses too. Greed and fear come in pair.


I will admit though, it is hard to be a rational investor when the market continues to behave irrationally, I feel the fear coming up being left behind, hence this post begging the whales for a correction.  

[grovestr]

That's just like saying "ashes don't burn, so to protect the forest from a forest fire, let's burn it all down!"

You don't realize, but it's a fact. Based on Yosemite National Park fire history:

Historically, fire was often seen as a negative force, but in recent years it has been realized that the benefits of fire in forests are numerous.

http://www.nps.gov/yose/parkmgmt/firemanagement.htm

[Apraksin]

What would be the price if we where in line with the long term exponential growth rate?

[RationalSpeculator]

What would be the price if we where in line with the long term exponential growth rate?

According to SlipperySlope that would be $40 by the end of this month September. But I'll take $60 too

[RationalSpeculator]

Yes, feed my market making bot.  He's short from all this straight up shit.

Exactly!  

[Birdy]

That's just like saying "ashes don't burn, so to protect the forest from a forest fire, let's burn it all down!"

You don't realize, but it's a fact. Based on Yosemite National Park fire history:

Historically, fire was often seen as a negative force, but in recent years it has been realized that the benefits of fire in forests are numerous.

http://www.nps.gov/yose/parkmgmt/firemanagement.htm

I do realize that connection, in fact I did even think of that while writing the post.
That's why I think it's even more fitting as image.
They both have partially true benefits (shaking out emotional traders, providing nutrient rich environment for new seeds), while also being the exact thing you want to prevent.
You shouldn't burn the whole forest down though, those are controlled fires.
If you could manage the control you could end up with a better Bitcoin distribution and an healthier Bitcoin, but you could also fail (it crashs too hard) and set it back, because the crash scared too much people away.

I don't think Bitcoin will crash sub $100 anytime though, unless there are some really bad news.
(And if it does then I'm not selling ^^)

[HeliKopterBen]

The trend changed at 65 IMO.  The whales are more likely to panic buy.

[johnyj]

The fact is that whales are running out of coins right now. Bitcoin's limited supply nature means that any crash will be short lived

[JimboToronto]

1. Blah blah blah.  

2. so I can buy cheap coins  

I'll choose door number two.

 

[RodeoX]

I don't understand. You mean the whales should sell at a cheaper price?
If I did this and sold say 3k BTC for $100/ instead of $130/  I would receive $300,000. That is leaving $90,000 on the table. Why would I do that? That is not how you get to be a whale.

[Xiaoma]

I don't understand. You mean the whales should sell at a cheaper price?
If I did this and sold say 3k BTC for $100/ instead of $130/  I would receive $300,000. That is leaving $90,000 on the table. Why would I do that? That is not how you get to be a whale.

Are you reading the same thread as all the others? Or you just make up numbers in your mind? 
Who said that whales should sell at 100? where where I want to buy there

[cypherdoc]

1. The goal is to make bitcoin a more stable currency so that people are willing to quote prices more and more in bitcoin. Obviously it will take many years but those that sell on highs and buy on lows are the only ones creating stability. The permabulls don't add anything of value to the stability of the price and the emotional buyers do exactly the inverse. With the current price at $130 the emotional buyers (and permabulls to a lesser extent) have again lifted the price way above the long term exponential growth rate, time to give them a beating again and flush them out.  

2. so I can buy cheap coins  (hey, I walk the talk and did my part of the selling already but I'll admit I'm getting nervous this price ain't collapsing as I expected. Hence my outcry to you dear whale )

well at least you have a sense of humor. 

[xxjs]

In the blink of an eye I thought that maybe the crash in april was the action of a benevolent early miner, maybe sathoshi himself, but in the next moment I thought that to be unnecessary, because it would have crashed anyway, at maybe a few dollars higher than 266. So really, we don't need a divine regulator, the market is just fine.

[AndrewWilliams]

The easiest way to accomplish this is to go around shutting down the exchange services like Bitstamp...