Am I the only one who wants bitcoin to tank?

[RyNinDaCleM]

Miners who are hodling their mining results are hoping for a low or relatively no rise BTC at this time. This keeps the difficulty from rising like crazy and better results off of the same hardware. The last 2 difficulty rise have been reasonable thanks to the stable BTC price.

That is an interesting perspective. Why wouldn't they sell to make price drop and possibly more miners quit so difficulty drops or slows further?

I guess many miners just hold on long enough to their coins in order to make a better price. But at a certain point they just can't wait any longer and have to take the price the market currently offers them. Why would they stop mining? It's the only thing their machines can do. They need to mine while the difficulty is still 'low', man!

I get that. I was a miner long ago. When profitability drops off, those who are losing money mining drop out. Not all but many.

[Ayers]

I don't understand this logic at all. If you truly believe that bitcoin is resilient and will rise to greater heights then buy now @580 USD while it is down 50%!!! from its ATH.

because that is only 50% thinking, the other 50% think that will go down and want to buy at cheaper price, also with the first 50% you should never stop to buy, which isn't s clever thing to do...

[Mobius]

Miners who are hodling their mining results are hoping for a low or relatively no rise BTC at this time. This keeps the difficulty from rising like crazy and better results off of the same hardware. The last 2 difficulty rise have been reasonable thanks to the stable BTC price.

That is an interesting perspective. Why wouldn't they sell to make price drop and possibly more miners quit so difficulty drops or slows further?

I guess many miners just hold on long enough to their coins in order to make a better price. But at a certain point they just can't wait any longer and have to take the price the market currently offers them. Why would they stop mining? It's the only thing their machines can do. They need to mine while the difficulty is still 'low', man!

I don't think many miners do this today. Several years ago, this was more common as miners had to pay much less for electricity and for their equipment (the amount of electricity was less and the cost of equipment was less), but today a high portion of a miners costs is going to be electricity and this bill needs to be paid somehow.

[Leina]

Miners who are hodling their mining results are hoping for a low or relatively no rise BTC at this time. This keeps the difficulty from rising like crazy and better results off of the same hardware. The last 2 difficulty rise have been reasonable thanks to the stable BTC price.

That is an interesting perspective. Why wouldn't they sell to make price drop and possibly more miners quit so difficulty drops or slows further?

I guess many miners just hold on long enough to their coins in order to make a better price. But at a certain point they just can't wait any longer and have to take the price the market currently offers them. Why would they stop mining? It's the only thing their machines can do. They need to mine while the difficulty is still 'low', man!

I don't think many miners do this today. Several years ago, this was more common as miners had to pay much less for electricity and for their equipment (the amount of electricity was less and the cost of equipment was less), but today a high portion of a miners costs is going to be electricity and this bill needs to be paid somehow.

The equipment cost is high also as all the "revenue" from ASIC miners are in the first 3 months and it will become obsolete after 4-5 months.

The reason why bitcoin price can not tank a lot lower from here. If it does, most miners will shut down the machine right away and the network will be vulnerable for attack.

[RobFordWotWot]

I want bitcoin to remain at its current value indefinitely. Not one cent should change; governments should back this up with a mandate.

[ssmc2]

Yes

[ShakyhandsBTCer]

I want bitcoin to remain at its current value indefinitely. Not one cent should change; governments should back this up with a mandate.

Then Bitcoin would fail. Because the current market cap is way to small to handle big transactions...

[RobFordWotWot]

I want bitcoin to remain at its current value indefinitely. Not one cent should change; governments should back this up with a mandate.

Then Bitcoin would fail. Because the current market cap is way to small to handle big transactions...

While that may be your improper opinion, I agree to disagree.

We need a leader that will make this system safe for all those who enter. If there's no guarantee of security how can we ever expect people to willingly join? It's the only way.

[jaberwock]

Nope.

Most predictable market, so easier to sell high and buy low.


But I expect we see some rise after some weeks, otherwise things may get problematic.

[Zawamiya]

Expect bitcoin to tank further while waiting for the bitlicence. Hopefully it turns out to be positive and we might see bubble...

[arorts]

This thread is just wishful thinking so as to satisfy the desires of those who want to buy cheap. Hard to find evidence that it will go down (or up) in the short run. Let the market run its course irrespective of personal, unfulfilled speculations. Mining is an obsolete game at this point. What we need now is technology promotion and adoption so keep up the word of mouth so as to have more  merchants tip the balance to attract more consumers.

[Silly Money]

The only people who ever want it to tank are those who have no coins. The value should either rise or stay stable. Nobody should want it to tank.

[HarmonLi]

The only people who ever want it to tank are those who have no coins. The value should either rise or stay stable. Nobody should want it to tank.

Yeah, to be precise especially those who temporarily have no coins! Those are the people who went short on bitcoin, meaning they sold their Bitcoin in order to be able to buy them back at a lower price later, thus having more Bitcoin then!

[DjPxH]

I check the crypto charts every day... Just waiting for a good crash. Like the last time, I bought 1 Bitcoin at $380. My only mistake was not buying more.

Long term I think it will be over $1,000 again... But this short term stability is so boring.

I know the best thing for Bitcoin is stability...but the best thing for Dr. Bitcoin is a nice healthy CRASH. My money is ready to go!! Just when?

We don't need to go down. People who say the longs need to be shaken out are wrong in my books! Why would we need to shake them out? We just need a good breakout to the north and start burning some shorts! As soon as they cascade, we have a full blown moon-rallye on our hands! That's what we need!

[Schickeria]

Looks like a lot of people here insists on the "Black or White","Bear or Bull", "All or Nothing"-Scheme.

Incurable.

[HarmonLi]

Looks like a lot of people here insists on the "Black or White","Bear or Bull", "All or Nothing"-Scheme.

Incurable.

Well, extreme sides are usually the loudest ones. Those who are rather moderately minded don't express their opinions that much... Bitcoin is very much about emotions, expectations and hope! The bubbles are a crucial thing about this!

[Ayers]

I want bitcoin to remain at its current value indefinitely. Not one cent should change; governments should back this up with a mandate.

a market cap like this could be easily manipulated from big hand, $400 was not what bitcoin was aiming for