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Author Topic: Bitcoin millioniares will crash Bitcoin to $400  (Read 240 times)
First77
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May 22, 2018, 04:13:33 AM
Last edit: May 22, 2018, 02:25:19 PM by First77
 #1

People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 or $1,000, they will lose their millions ($$$$$)
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May 22, 2018, 04:43:53 AM
 #2

Firstly, I think its fair to start at the beginning - "bitcoin millionaires will crash bitcoin to $400" - Will they? I don't think so. Not only because your stating that like a fact but because wouldn't that have already happened by now? Your suggestion that they would get off at any point above 1K is undermined by the fact that it rose from 1k at a steady rate for a decent part of last year, and yet they didn't offload. Maybe you say that is because there was a bull market and long term trend forming, sure so they would've dumped at any sign of that trend breaking them? Hmm that didnt happen either. Leading up to the BCash fork the trend was broken pretty sharply and yet prices didn't plummet down to $400 with the early adopters offloading. Run up to 20k massive correction to remove euphoria money etc etc blah blah we arrive at 8k and have traded reasonably sideways for a while giving plenty of opportunity to jump ship.

I would hazard a guess and say that the people that are jumping ship are the new money not the old. Early adopters have nothing really to lose by gambling on the potential of bitcoin which they saw down at $50, $100 or $1000, they've had their amazing returns and if they are only in it for the gains then they are easily winners at well below current levels. Early adopters are also likely the ones that believe in the use case of bitcoin as a friction-less payment system or friction-less store of value, which is an amazing proposition.

TLDR: I wholeheartedly disagree with your proposition.
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May 22, 2018, 04:44:13 AM
 #3

Well that is only a speculation but there are also investors who are not yet convince that Bitcoin price will end rising yet. Perhaps they would to wait more and sell when it is already six digits. There are a lot of investors of Bitcoin that are confident that bullish run of Bitcoin in not yet done.

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May 22, 2018, 04:56:32 AM
 #4

sorry that you tried to short bitcoin and lost a lot of money. next time don't short something that is on the rise so that you don't get desperate to continue creating bullshit topics like this thinking you are spreading FUD Cheesy it is not even FUD, they are dumb topics that only make us laugh at you...

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First77
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May 22, 2018, 06:32:36 AM
 #5

sorry that you tried to short bitcoin and lost a lot of money. next time don't short something that is on the rise so that you don't get desperate to continue creating bullshit topics like this thinking you are spreading FUD Cheesy it is not even FUD, they are dumb topics that only make us laugh at you...

People who buy Bitcoin at $5,000 will never be millionaires unless they invest $500,000 in Bitcoin  Grin
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May 22, 2018, 06:54:22 AM
 #6

Who are the bitcoin millionaires and should they do that?  I think we may never see bitcoin price at $400 again and this type of speculations always make people to sell their coins at loses.  I have been thinking of mtgox when open this thread but with all their dumping bitcoin still remains strong.
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May 22, 2018, 08:43:18 AM
 #7

People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 ot $1,000, they will lose their millions ($$$$$)

Long term holders (especially the early birds) hold Bitcoin for the following reasons;

- to store wealth outside the banking system.
- have no faith in fiat.
- have no faith in the government and their shitty system.
- want to own their wealth instead of relying on central parties to do the job for them.
- believe that Bitcoin will become a mainstream payment tool.
- believe that we haven't even seen a glimse of Bitcoin's real potential, and thus there is no reason to sell now.

All the newer holders aren't real holders but just fiat obsessed investors not knowing anything other than fiat being 'the real deal'.

1BTC whether it tanks back to $1000 or moons at $1,000,000 tomorrow, is still 1BTC. In reality everything else that we use to measure Bitcoin's value is losing against Bitcoin consistently, which says enough.

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May 22, 2018, 08:48:57 AM
 #8

People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 ot $1,000, they will lose their millions ($$$$$)

I bought between $100 and $400. And I continued buying after that. I haven't sold out so far. Why should I when I know I'm holding something what could be worth several hundreds of thousands of dollars per coin?!
I can guarantee you the early adopters and crypto OGs will not sell the majortiy of their coins, because they all have studied Bitcoin and understand it's disruptive potential. They are just focusing on one thing: accumulating as much coins as possible. And to do that, yes they sell a few coins on they way up, and buy when the price goes down.
You comment is pretty lame and not even worth to be called FUD.
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May 22, 2018, 08:58:38 AM
 #9

First of all you should know that if you are a millionaire and have that much money in Bitcoins and then you encash.. what happens is that .. the government doesn't allow that much about to be encashed suddenly ( my friend told me this )
Then also you must understand that millionaires only make a part of the whole Bitcoins economy they can't alone crash it ( except for Satoshi nakamato off course )
Also there is this never ending hope of increasing the Bitcoins therefore I don't think anyone would want to prevent future income
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May 22, 2018, 09:37:09 AM
 #10

I don't think that such scenario is very likely. And I don't see that Bitcoin millionares would have such interest in dumping price so much. This sounds to me more like a conspiracy theory. Also, selling extremly large amount of Bitcoin in short period of time wouldn't go without attention of governments and tax authorities. Don't think this is going to happen, it's only speculation without any solid proof.

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May 22, 2018, 09:45:13 AM
 #11

People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 ot $1,000, they will lose their millions ($$$$$)

bitcoin price under 100 dollar, before 2013
so is very long time hold can reach to 1000 dollar or until 10k dollar

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May 22, 2018, 09:54:48 AM
 #12

People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 ot $1,000, they will lose their millions ($$$$$)

First you say they will sell at 1000$ or 5000$ to become millionaire, then you say if BTC drop to 1000$ or 2000$ they will lose money, how is that possible? If they want to sell and make millions there is possibility for that last year at 20000$, and if one user want to become millionare in that time he/she only need to sell 50 BTC (50 BTC x 20000 = 1000000 $). Even today person can get 1 million $ with only 100+ BTC, so there will no be market crash anytime soon. You do not know that BTC daily trading volume is from 5 to 11 billion $, do you know how many millions is in 1 billion?

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May 22, 2018, 10:46:38 AM
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People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 ot $1,000, they will lose their millions ($$$$$)

That makes absolutely 0 sense.

There is a reason why prices are much higher right now compared to the stage where bitcoin prices were literally dirt cheap, and that is because of the adoption that has multiplied infinitely during that time, thus increasing demand.

There is only a limited supply of bitcoin, and an increasing demand for BTC. And even though, right now, bitcoin is in a bear market, there is absolutely no way that it's going to go down to $400.

A lot of earlier adopters have already sold their bitcoins as well, so your theory doesn't really make sense. But the vast majority of investors are actually holding onto their coins for the long term, instead of actively trading on the market all the time.

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May 22, 2018, 02:29:25 PM
 #14

I bought between $100 and $400. And I continued buying after that. I haven't sold out so far. Why should I when I know I'm holding something what could be worth several hundreds of thousands of dollars per coin?!I can guarantee you the early adopters and crypto OGs will not sell the majortiy of their coins, because they all have studied Bitcoin and understand it's disruptive potential. They are just focusing on one thing: accumulating as much coins as possible. And to do that, yes they sell a few coins on they way up, and buy when the price goes down. You comment is pretty lame and not even worth to be called FUD.

A good example is Indian billionaire "Subroto Roy" who committed fraud of Rs 25,000 crores or $5,000,000,000.

Indian government attached Roy's "Ambi valley" worth $8 billion to recover the money but buyers are not paying more than $2 billion for Ambi valley.

Only when you get cash, you have the money.
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May 22, 2018, 03:01:33 PM
 #15

Without doubt one of the shittiest threads I’ve read here in 4 years.




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May 22, 2018, 03:07:30 PM
 #16

Well that is only a speculation but there are also investors who are not yet convince that Bitcoin price will end rising yet. Perhaps they would to wait more and sell when it is already six digits. There are a lot of investors of Bitcoin that are confident that bullish run of Bitcoin in not yet done.

Really... like early adopters are still holding on to a coin they probably bought below like $5 ?. And they didn't offload while bitcoin got to its ATH last December? -- This I doubt. The early adopters wouldn't be doing theirselves any good if they have not sold and maybe buy in again. Thats how the market will be sweet.

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May 22, 2018, 05:42:56 PM
 #17

People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 ot $1,000, they will lose their millions ($$$$$)

I bought between $100 and $400. And I continued buying after that. I haven't sold out so far. Why should I when I know I'm holding something what could be worth several hundreds of thousands of dollars per coin?!
I can guarantee you the early adopters and crypto OGs will not sell the majortiy of their coins, because they all have studied Bitcoin and understand it's disruptive potential. They are just focusing on one thing: accumulating as much coins as possible. And to do that, yes they sell a few coins on they way up, and buy when the price goes down.
You comment is pretty lame and not even worth to be called FUD.

Damn, you were an early adopter than. Congrats on still holding it. I know some more people who bought at 100$, but sold everything when the price rose to 1000$. I wish I bought BTC also earlier, most of my BTC I bought when the price was at around 4000$.

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May 22, 2018, 05:59:31 PM
 #18

People who brought Bitcoin at $50 or $100 or $400, they will sell at $1,000 or $5,000 or $10,000 to be a millionaire. If they do not sell Bitcoin and bitcoin goes back to $2,000 or $1,000, they will lose their millions ($$$$$)
They definitely will not. The more the progress bitcoin ends up having, the more it even gets better for them and who on earth will want to give that up for anything ?

You are only stating an assumption that is obviously not possible and even if some of them decides to offload what they have, as long as there is a demand for it, then there would be people ready to gulp it up and if not, I guess some of them will just have to give it up at lower values, but in the real sense, it is not something realistic to do or assume something like that would be possible in crashing bitcoin.


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May 22, 2018, 06:25:06 PM
 #19

Without doubt one of the shittiest threads I’ve read here in 4 years.
Same but only over year for me. Should have a shitty hall of fame for this. I could equally make a thread that says Bitcoin millionaires moon Bitcoin to $100,000 and make up some weak reasoning Cheesy.

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May 22, 2018, 06:30:25 PM
 #20

Following your logic, so why will the Bitcoin millionaires try to dump Bitcoin to 400$ if they know just by doing so will make them ex-millionaires? You see this whales if they decided to massively sell their Bitcoins in order to become fiat millionaires will just be a dumb idea, it is like killing their own cash cow and quitting the game without any reason. They have the power to bring it back to 400$ anytime but are you seeing it being dumped right now to that price level? Of course not because that is a point of no return, the could simply make millions with the price manipulation alone.

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