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Tirapon
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November 03, 2013, 03:33:51 PM |
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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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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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tutkarz
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November 03, 2013, 07:41:48 PM |
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Sounds to me like the OP wants to buy some cheap coins! No cheap coins anymore my friend  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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Tirapon
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November 03, 2013, 08:57:20 PM |
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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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gaston909
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November 03, 2013, 09:37:31 PM |
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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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Elwar
Legendary
 Offline
Activity: 3598
Merit: 2384
Viva Ut Vivas
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November 03, 2013, 11:45:14 PM |
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Maybe the government can just take away people's coins and give them to you. That would be fair right?
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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smoothie
Legendary
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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November 03, 2013, 11:57:06 PM |
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Beneficial for who?
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
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balanghai
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November 04, 2013, 12:04:13 AM |
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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! |
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BitcoinAshley
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November 04, 2013, 12:45:38 AM |
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Maybe the government can just take away people's coins and give them to you. That would be fair right?
Now we're talking!  |
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prophetx
Legendary
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Activity: 1666
Merit: 1010
he who has the gold makes the rules
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November 04, 2013, 07:37:52 AM |
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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
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goxed
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Activity: 1946
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Bitcoin / Crypto mining Hardware.
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November 04, 2013, 08:08:56 AM |
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Most people tend to buy during bull runs, and capitulate during crash, including reasonably strong hands.
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Revewing Bitcoin / Crypto mining Hardware.
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Asrael999
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November 04, 2013, 08:26:03 AM |
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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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crazy_rabbit
Legendary
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Activity: 1204
Merit: 1001
RUM AND CARROTS: A PIRATE LIFE FOR ME
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November 04, 2013, 10:11:03 AM |
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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.
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notme
Legendary
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Activity: 1904
Merit: 1002
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November 04, 2013, 01:50:27 PM |
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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 |
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Asrael999
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November 04, 2013, 02:47:09 PM |
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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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