Am I the only one who wants bitcoin to tank?

[Melds]

It could tank, and I would love that, but I think it's unlikely... it's probably gonna hover around a bit and go up.

[1715555350]

1715555350

[1715555350]

1715555350

[Newbie1022]

It'll tank sooner or later because that is what markets do (especially ones with high levels of margin and manipulation). The question is whether tanking... let's say a 50% loss... brings you to $300/BTC or $3000/BTC ... the question is what the reference point for the tanking is. This, nobody can tell for sure.

If you have a fair amount of money and income then buy in slowly and play the long-term. If you don't have much, maybe hold some funds on an exchange so you can go bargain shopping if you get lucky. Those are really the only two viable plays. Bouncing in and out, with exchange and fiat transfer fees is a quick way to lose money, though. Fewer transactions in and out of exchanges is probably advisable. I really don't know how the day traders eat.

[RyNinDaCleM]

It'll tank sooner or later because that is what markets do (especially ones with high levels of margin and manipulation). The question is whether tanking... let's say a 50% loss... brings you to $300/BTC or $3000/BTC ... the question is what the reference point for the tanking is. This, nobody can tell for sure.

If you have a fair amount of money and income then buy in slowly and play the long-term. If you don't have much, maybe hold some funds on an exchange so you can go bargain shopping if you get lucky. Those are really the only two viable plays. Bouncing in and out, with exchange and fiat transfer fees is a quick way to lose money, though. Fewer transactions in and out of exchanges is probably advisable. I really don't know how the day traders eat.

You don't actually move money in/out to trade. I just leave it there. If a balance at one exchange gets too high, I buy BTC and either withdraw to cold storage or send it to an account at another exchange. It all depends on what my profit taking indicator tells me to do with the profits. If an account takes some draw down, I will send BTC back from an account with more to balance my funds across a few exchanges. I only withdraw Fiat in special circumstances like to buy a car or when I started my business. I might pull some out if a member of my family or myself were to need serious medical help, but I make enough from my business to live off of and Bitcoin is just a retirement account.


On topic; I don't mind if it tanks because you can make money faster in declines than rises.

[Benjig]

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?

I believe who doesn't hold bitcoin anymore would want bitcoin to drop, and those who hold bitcoin want it to rise. Its just normal human nature...

Yea thats why you dont have to sell all your holdings at the minimum raise, even if it goes to a new ath you should hold at least 50 percent of your holdings to see what happens.. anyway in theory you should keep holding 100 percent of them!

[Newbie1022]

It'll tank sooner or later because that is what markets do (especially ones with high levels of margin and manipulation). The question is whether tanking... let's say a 50% loss... brings you to $300/BTC or $3000/BTC ... the question is what the reference point for the tanking is. This, nobody can tell for sure.

If you have a fair amount of money and income then buy in slowly and play the long-term. If you don't have much, maybe hold some funds on an exchange so you can go bargain shopping if you get lucky. Those are really the only two viable plays. Bouncing in and out, with exchange and fiat transfer fees is a quick way to lose money, though. Fewer transactions in and out of exchanges is probably advisable. I really don't know how the day traders eat.

You don't actually move money in/out to trade. I just leave it there. If a balance at one exchange gets too high, I buy BTC and either withdraw to cold storage or send it to an account at another exchange. It all depends on what my profit taking indicator tells me to do with the profits. If an account takes some draw down, I will send BTC back from an account with more to balance my funds across a few exchanges. I only withdraw Fiat in special circumstances like to buy a car or when I started my business. I might pull some out if a member of my family or myself were to need serious medical help, but I make enough from my business to live off of and Bitcoin is just a retirement account.


On topic; I don't mind if it tanks because you can make money faster in declines than rises.

Makes sense... I was talking about people who were shifting fiat around. That s--- can get really expensive really quickly. But yea, that's a reasonable way of dealing with it especially if the counterparty risk doesn't spook you (it did me initially, but not really anymore... in the words of George Carlin... "Take a f---ing chance, man [with some risk]!"

[tss]

yes.  i also want bitcoin to be as low as possible for as long as possible to give me time to buy more.. then, one day, when the fad has passed, i will own many bitcoin worth much less than i paid for them.. HOORAY!

[petersiddle98]

I also hope bitcoin can drop until $400 again, I want to buy some...

[DrBitcoin]

If it crashes it will be because of some dire reason that will make you not want to hold bitcoins.  After all, how else can the market go down, people have to want to sell.  So I would echo the advice of Unluckyduck and if you really think the future is bright, buy a little bit from time to time.

This is called Panic selling...not something I engage in.  I have a goal of 10 Bitcoins in 2014.  I was on track to meet that goal...but now I'm a little off.  I currently only have about 3.5 BTC. So while $580 is a good price, I snagged one at $380...and it felt VERY GOOD!

I'm just waiting for another crash, so this time I can snag the remaining 6.5BTC and then it is HODL city!

I currently have limit buy orders as follows:

$549 - .25BTC
$525 - .25BTC
$499 - .50BTC
$475 - .50BTC
$450 - 1.0BTC
$425 - 1.0BTC
$399 - 3.0BTC
$350 - 3.0BTC
$299 - 4.0BTC
$200 - 5.0BTC
$99 -    10BTC

[fish731]

If it crashes it will be because of some dire reason that will make you not want to hold bitcoins.  After all, how else can the market go down, people have to want to sell.  So I would echo the advice of Unluckyduck and if you really think the future is bright, buy a little bit from time to time.

This is called Panic selling...not something I engage in.  I have a goal of 10 Bitcoins in 2014.  I was on track to meet that goal...but now I'm a little off.  I currently only have about 3.5 BTC. So while $580 is a good price, I snagged one at $380...and it felt VERY GOOD!

I'm just waiting for another crash, so this time I can snag the remaining 6.5BTC and then it is HODL city!

I currently have limit buy orders as follows:

$549 - .25BTC
$525 - .25BTC
$499 - .50BTC
$475 - .50BTC
$450 - 1.0BTC
$425 - 1.0BTC
$399 - 3.0BTC
$350 - 3.0BTC
$299 - 4.0BTC
$200 - 5.0BTC
$99 -    10BTC

What's a limit buy order?

[bassclef]

If it crashes it will be because of some dire reason that will make you not want to hold bitcoins.  After all, how else can the market go down, people have to want to sell.  So I would echo the advice of Unluckyduck and if you really think the future is bright, buy a little bit from time to time.

This is called Panic selling...not something I engage in.  I have a goal of 10 Bitcoins in 2014.  I was on track to meet that goal...but now I'm a little off.  I currently only have about 3.5 BTC. So while $580 is a good price, I snagged one at $380...and it felt VERY GOOD!

I'm just waiting for another crash, so this time I can snag the remaining 6.5BTC and then it is HODL city!

I currently have limit buy orders as follows:

$549 - .25BTC
$525 - .25BTC
$499 - .50BTC
$475 - .50BTC
$450 - 1.0BTC
$425 - 1.0BTC
$399 - 3.0BTC
$350 - 3.0BTC
$299 - 4.0BTC
$200 - 5.0BTC
$99 -    10BTC

What's a limit buy order?

A buy order at a specific price. So DrBitcoin has cash on an exchange tied up in buy orders all the way down to $99. It's great if there's a flash crash because some of the orders will likely get filled. This is unlikely, however, but it could happen. Think of them as Hail Mary orders

[HarmonLi]

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 a crash! Why do all people around here say that Bitcoin needs to tank in order to recover??? We just need some more good news and all those people coming back from their holidays and starting investing again! A crash just isn't needed, maybe you just want to buy more BTC for a low price?

[Kipsy89]

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?

Please don't be so negative, man! We need a more positive attitude in this community and the BTC community in general! With all this negativity and people trying to push the price down just to grab a few cheap coins, we won't get to the moon, man! Going up is the right way! And stay positive!

[RyNinDaCleM]

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 a crash! Why do all people around here say that Bitcoin needs to tank in order to recover??? We just need some more good news and all those people coming back from their holidays and starting investing again! A crash just isn't needed, maybe you just want to buy more BTC for a low price?

I think he made the fact that he wants to buy cheaper, abundantly clear!
good news hasn't made it go up yet so why would it change with some more good news?
sometimes a crash (we'll call it capitulation) and the subsequent low prices is just what is needed to get people to start buying

[ShakyhandsBTCer]

People that own no Bitcoins yet obviously want bitcoin to tank. Also the ones that want to rebuy or are shorting bitcoins.
Then there are just spectators that want to watch the world burn.

[Kipsy89]

People that own no Bitcoins yet obviously want bitcoin to tank. Also the ones that want to rebuy or are shorting bitcoins.
Then there are just spectators that want to watch the world burn.

I think you tend to change sides depending on whether you currently are invested in Bitcoin or whether you're not. Either because you're too afraid and don't believe in it or because you're currently trying to short it. I think shorting is a bad thing. It just let's go off something and hoping for it to lose and then buy it back again later. Not good for your Karma!

[RyNinDaCleM]

People that own no Bitcoins yet obviously want bitcoin to tank. Also the ones that want to rebuy or are shorting bitcoins.
Then there are just spectators that want to watch the world burn.

I think you tend to change sides depending on whether you currently are invested in Bitcoin or whether you're not. Either because you're too afraid and don't believe in it or because you're currently trying to short it. I think shorting is a bad thing. It just let's go off something and hoping for it to lose and then buy it back again later. Not good for your Karma!

It's all part of price discovery!
I think you might be over invested

[DustyRah]

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.

[ShakyhandsBTCer]

People that own no Bitcoins yet obviously want bitcoin to tank. Also the ones that want to rebuy or are shorting bitcoins.
Then there are just spectators that want to watch the world burn.

I think you tend to change sides depending on whether you currently are invested in Bitcoin or whether you're not. Either because you're too afraid and don't believe in it or because you're currently trying to short it. I think shorting is a bad thing. It just let's go off something and hoping for it to lose and then buy it back again later. Not good for your Karma!

This is certainly true. People tend to root for what profits them most. They are not objecitve.

[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?

[Kipsy89]

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!