Should I worry?

[Hendrick0909]

if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.

downward spiral means? Bitcoin ends?

[HI-TEC99]

if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.

downward spiral means? Bitcoin ends?

No, the difficulty level of mining Bitcoin drops until it's profitable to start mining again. The miners wait until it costs less electricity to mine a Bitcoin than they can sell one for.

[giveBTCpls]

if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.

downward spiral means? Bitcoin ends?

No, the difficulty level of mining Bitcoin drops until it's profitable to start mining again. The miners wait until it costs less electricity to mine a Bitcoin than they can sell one for.

If a lot of miners stop, the ones left will get a bigger piece of the pie, which will allow for them to invest in more hashing power, which will allow for bigger gains as they can monopolize the mining game, so if you are in the mining game and you have a big name stablished and leave, you are basically an idiot, thats why nothing wrong will happen. It's a self sustained system.

[Wexlike]

if btc continues down trend, miners could drop out as they cannot pay upkeep, then it's downward spiral.

downward spiral means? Bitcoin ends?

No, the difficulty level of mining Bitcoin drops until it's profitable to start mining again. The miners wait until it costs less electricity to mine a Bitcoin than they can sell one for.

If a lot of miners stop, the ones left will get a bigger piece of the pie, which will allow for them to invest in more hashing power, which will allow for bigger gains as they can monopolize the mining game, so if you are in the mining game and you have a big name stablished and leave, you are basically an idiot, thats why nothing wrong will happen. It's a self sustained system.

Wrong. If a lot of miners stop right after a high difficulty adjustment all the other miners are pretty much fucked with an unfair mining difficulty. And no, they don't get more bitcoins. Please inform yourself about mining and difficulty.

In the altcoin section a few coins almost died(very! long block times) because a big mining pool switched the coin after a high difficulty change and only came back when the difficulty adjusted way lower again.

[Gundulmu]

go for the long run, if you think bitcoins gonna fail, just get out now, and go down the drain with other thing...

[ajareselde]

go for the long run, if you think bitcoins gonna fail, just get out now, and go down the drain with other thing...

i believe it will go further down, thats why i backed out and am waiting
for price to settle lower, then ill rebuy.
Even if that doesnt happen now, it will soon.

[indoboycoiner]

go for the long run, if you think bitcoins gonna fail, just get out now, and go down the drain with other thing...

i believe it will go further down, thats why i backed out and am waiting
for price to settle lower, then ill rebuy.
Even if that doesnt happen now, it will soon.

So you sold your btc?

[Kolakazki]

Calm down. Everything that goes up must come down and go up again. Thats life. Dont sell. Hold it.

[arcanum]

FIAT is doomed for sure, with BTC at least you can have HOPE.

[Sevvero]

FIAT is doomed for sure, with BTC at least you can have HOPE.

Why is fiat doomed? Are you stupid or what?

[hodlmybtc]

Only thing you should worry about at these prices is having enough fiat to buy all these cheap coins from the panic sellers.

[hodlmybtc]

FIAT is doomed for sure, with BTC at least you can have HOPE.

Why is fiat doomed? Are you stupid or what?

If you are asking this on a Bitcoin forum you must be really stupid or what?

 

[vipgelsi]

The sky is falling sell sell.

[Chuckee]

Asking this forum if you should worry about bitcoin price would be like walking into a timeshare convention and asking the hosts if you should worry about your timeshare investment.

What do you think these idiots are going to tell you?

I hope OP listened to my advice and cut his looses. It's hard to do the responsible thing when all the other idiots are telling you to HODL!, but sometimes you need to accept reality.

[Sevvero]

Only thing you should worry about at these prices is having enough fiat to buy all these cheap coins from the panic sellers.

Go buy some "cheap" coins then, idiot. Many idiots did and now is in deep red.

[landonbridge]

Bitcoin is on the upwards stand right now with paypal news all over the board. Wohooo!! $10,000 here we come!

[mllenios]

HOLD! Do not worry.