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Author Topic: Why I think a major and prolonged crash could be beneficial  (Read 2468 times)
Tirapon
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November 03, 2013, 03:33:51 PM
 #21

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.

If you aren't willing to cash out at $200, why would you cash out at $5?
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tutkarz
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November 03, 2013, 07:41:48 PM
 #22

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

No cheap coins anymore my friend  Wink

agree, some people are just way too greedy. And btw $220 is still very cheap for bitcoin and it still has enormous potential of growth if some mayor companies will start using it. Stop complaining people.

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November 03, 2013, 08:57:20 PM
 #23

And btw $220 is still very cheap for bitcoin and it still has enormous potential of growth if some mayor companies will start using it. Stop complaining people.

+1

Want cheap BTC? Buy some now then.
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November 03, 2013, 09:37:31 PM
 #24

Yes,I agree... I want to see a major and prolonged crash so I can buy a huge volume of coins super cheap. Good plan sir.
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November 03, 2013, 11:45:14 PM
 #25

Maybe the government can just take away people's coins and give them to you. That would be fair right?

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November 03, 2013, 11:57:06 PM
 #26

Beneficial for who?

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November 04, 2013, 12:04:13 AM
 #27

At $10,000, the FBI would hold a position valued at over a billion dollars.

Assuming the FBI are strong hands.

Hahaha this made my day!
BitcoinAshley
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November 04, 2013, 12:45:38 AM
 #28

Maybe the government can just take away people's coins and give them to you. That would be fair right?


Now we're talking!  Grin
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November 04, 2013, 07:37:52 AM
 #29

it is not going to happen... that cat is out of the bag and he's not going back in


well i am not going to say it cannot happen, there could be some technical crisis that could cause a major crash.  for example right now the average block time is like 6 minutes or so?  at some point if it rises above ten for a long enough period it could cause major stagnation.

also there is a limit on the number of transactions that are contained within blocks, i know that can be adjusted in the future but as it stands right now if we get closer to this limit that could also destabilize the system.

anyway I am rambling...

but it is possible that money might move between some alts and btc in those kinds of scenarios, and there would be opportunity to increase one's BTC holdings

WINGS - get paid to forecast ICO valuations http://experimental.wings.ai - over $5 million in new token and Ether pay outs already
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November 04, 2013, 08:08:56 AM
 #30

Most people tend to buy during bull runs, and capitulate during crash, including reasonably strong hands.

Looking to review Bitcoin / Crypto mining Hardware.
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November 04, 2013, 08:26:03 AM
 #31

You are falling into the psychological trap of "needing to own whole bitcoins".   Think of it as buying an mBTC for $2, not a BTC for 200.   Time to change the exchanges so we buy mBTC and show mBTC in the wallets. Psychologically then the whole thing becomes much more palatable. 
Normal people don't buy whole bars of gold (ingots) they buy by the ounce. Now we should buy BTC by the mBTC not by the coin.

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November 04, 2013, 10:11:03 AM
 #32

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.

Brilliant idea! If this was still 2010-12 when this was the status quo. Those with that many coins recognised the value of bitcoin and risked what they (still) think they can afford to lose. There is nothing unfair about that. They just could risk more, or believed more.

more or less retired.
notme
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November 04, 2013, 01:50:27 PM
 #33

You are falling into the psychological trap of "needing to own whole bitcoins".   Think of it as buying an mBTC for $2, not a BTC for 200.   Time to change the exchanges so we buy mBTC and show mBTC in the wallets. Psychologically then the whole thing becomes much more palatable. 
Normal people don't buy whole bars of gold (ingots) they buy by the ounce. Now we should buy BTC by the mBTC not by the coin.


Protip: 1000 mBTC = 1 BTC

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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Asrael999
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November 04, 2013, 02:47:09 PM
 #34

You are falling into the psychological trap of "needing to own whole bitcoins".   Think of it as buying an mBTC for $2, not a BTC for 200.   Time to change the exchanges so we buy mBTC and show mBTC in the wallets. Psychologically then the whole thing becomes much more palatable. 
Normal people don't buy whole bars of gold (ingots) they buy by the ounce. Now we should buy BTC by the mBTC not by the coin.


Protip: 1000 mBTC = 1 BTC

apologies I never was that good at that newfangled math stuff
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