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Author Topic: Why I think a major and prolonged crash could be beneficial  (Read 2467 times)
wobber
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November 01, 2013, 03:24:41 PM
 #1

I was thinking:

Many people hold tens of thousands of coins (see rpietillas TOP 500 for some info). That means lots of coins are in the hands of some wealthy elite that are already rich and have not immediate need to cash out anything. That's not wealth, that's power. Having 1% of the total coins is purely power.

What if we would have a prolonged downtrend (not violent) to $5-10 for let's say 2 years? May of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

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November 01, 2013, 03:27:22 PM
 #2

We just had a crash dude, like four months ago. What would this accomplish for the psyche? We already are convinced it will eventually go over 266. That will happen before another "bubble" "collapses"

Edit: and once you're that wealthy you don't need to cash out Wink

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wobber
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November 01, 2013, 03:29:33 PM
 #3

We just had a crash dude, like four months ago. What would this accomplish for the psyche? We already are convinced it will eventually go over 266. That will happen before another "bubble" "collapses"

It lasted for a few months dude. I said years. What if we would still be in the 70es now? Would you feel the same optimism?

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vokain
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November 01, 2013, 03:33:14 PM
 #4

We just had a crash dude, like four months ago. What would this accomplish for the psyche? We already are convinced it will eventually go over 266. That will happen before another "bubble" "collapses"

It lasted for a few months dude. I said years. What if we would still be in the 70es now? Would you feel the same optimism?

People that couldn't buy in the 70s before would feel the same optimism.

If it was still a fiat dominated world I would use BTC like I do today as a savings account  and just withdraw cash when I need it. Bucket in, trickle out Smiley

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Birdy
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November 01, 2013, 03:40:54 PM
 #5

What if we would have a prolonged uptrend (not violent) to $5000-10000 for let's say 2 years? Many of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

Roll Eyes

Even now Bitcoins market cap is so low that people can aquire enormous amounts of the overall percentage, if they want to.
And you want it to go down to $5?
wobber
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November 01, 2013, 03:44:41 PM
 #6

What if we would have a prolonged uptrend (not violent) to $5000-10000 for let's say 2 years? Many of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

Roll Eyes

This is a good point also. I was thinking about it too. But if people have 50,000 coins, that would mean 250,000,000 just for one major player to cash out. If find it too much money.

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November 01, 2013, 03:46:10 PM
 #7

I've seen many people here predicting things like no more triple digits for years and such, but bitcoin is way too hot and volatile to suddenly go into hibernation for years. There will be more downtrends in the future, but as more and more people get involved with bitcoin you can't expect the price to go down to a level where you can comfortably buy in and absolutely know for certain that it just has to go up. I absolutely believe it is undervalued right now, it could go to $500 in the coming months and suddenly $200 is supercheap and everyone will be scrambling to buy bitcoins when it crashes to $250 or so.

Bitcoin = Gold on steroids
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November 01, 2013, 03:47:30 PM
 #8

What if we would have a prolonged uptrend (not violent) to $5000-10000 for let's say 2 years? Many of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

Roll Eyes

This is a good point also. I was thinking about it too. But if people have 50,000 coins, that would mean 250,000,000 just for one major player to cash out. If find it too much money.

Those are peanuts
Of course not for me or you, but in terms of monetary systems those are peanuts.
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November 01, 2013, 03:56:05 PM
 #9

I was thinking:

Many people hold tens of thousands of coins (see rpietillas TOP 500 for some info). That means lots of coins are in the hands of some wealthy elite that are already rich and have not immediate need to cash out anything. That's not wealth, that's power. Having 1% of the total coins is purely power.

What if we would have a prolonged downtrend (not violent) to $5-10 for let's say 2 years? May of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

I think you would (possibly) get the opposite effect. Even more bitcoins might accumulate in fewer hands.
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November 01, 2013, 03:58:58 PM
 #10

btc equals freedom, thats priceless...

wobber
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November 01, 2013, 04:56:14 PM
 #11

Can OP offer any proof that the coins are becoming less distributed as the exchange rate increases or that they would become more distributed as the exchange rate decreases?

Actually no. Why?

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November 01, 2013, 05:29:58 PM
 #12

Can OP offer any proof that the coins are becoming less distributed as the exchange rate increases or that they would become more distributed as the exchange rate decreases?

Actually no. Why?

Basic supply/demand principles (along with the growing popularity of bitcoin) would suggest that a higher exchange rate will cause bitcoins to become more distributed.
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November 01, 2013, 05:37:57 PM
 #13

I was thinking:

Many people hold tens of thousands of coins (see rpietillas TOP 500 for some info). That means lots of coins are in the hands of some wealthy elite that are already rich and have not immediate need to cash out anything. That's not wealth, that's power. Having 1% of the total coins is purely power.

What if we would have a prolonged downtrend (not violent) to $5-10 for let's say 2 years? May of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

We don't need anything. Sounds like you want cheaper coins, but that's for the market to decide.
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November 01, 2013, 06:10:05 PM
 #14

OP is just whining because he missed out on several chances to get cheap coins.

Every crash HURTS bitcoin.

Every time it goes up it HELPS bitcoin.

Just buy now and hope that it will go up to $1000. That is much better for bitcoin compared to bitcoin crashing to $40 and going back to $200.

A major, prolonged crash would mean that people are losing faith in bitcoin since there would be drastically less demand for it. Bitcoin might not ever recover. You can't have it both ways. You can't have everyone suddenly give up on bitcoin and then have everyone want to get back in.
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November 01, 2013, 06:16:30 PM
 #15

Funny. I am not whining. I don't have money to buy coins even if they go to $50 USD.

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November 01, 2013, 06:39:58 PM
 #16

Funny. I am not whining. I don't have money to buy coins even if they go to $50 USD.

You can get coins, not full 1.0 denominations, but certainly you can still get coins.
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November 01, 2013, 06:44:08 PM
 #17

This may be the dumbest thread I've ever seen.

Good luck with your 2013 cheap bitcoin goals.. 
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November 01, 2013, 06:51:08 PM
 #18

What if we would have a prolonged uptrend (not violent) to $5000-10000 for let's say 2 years? Many of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.

Roll Eyes

Even now Bitcoins market cap is so low that people can aquire enormous amounts of the overall percentage, if they want to.
And you want it to go down to $5?

At $10,000, the FBI would hold a position valued at over a billion dollars.
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November 03, 2013, 03:11:31 PM
 #19

There will be crashes, but I doubt any will be prolonged.  to many big players fighting strong hands for coins.  at this point selling btc will probably just lead to losses.

I will wait for interest in BTC to slow a bit before i get back into playing the waves, and keep some cash on the sidelines just in case the fed sells DPRs bitcoins on the open market


 
 
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November 03, 2013, 03:22:28 PM
 #20

Sounds to me like the OP wants to buy some cheap coins!

No cheap coins anymore my friend  Wink
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