I'm happy Bitcoin is tanking because I love it

[williamevanl]

Bitcoin isn't a stock and it's not a traditional investment. It's certainly not a company turning over dividends and profits every month.

It's just an idea, a 20$ Bitcoin still makes it a 500 Million dollar idea. (for f's sakes!) Somehow I'm the crazy one.

Someone basically figured out how to maintain an online ledger, basically a spreadsheet with 25 million rows that are divisible to 8 decimal points. They spent processing power to generate these rows and they sell them.

That's all it is folks, just an idea. Facebook is an operating entity that returns a profit like a machine, Bitcoin is not.

[Hyena]

OP you're missing one thing --- other cryptos. Bitcoin may eventually go to 20$ while PeerCoin reaches 1000$ for example. Then you'd be a stupid fuck for buying into a dying asset . Anyway, market confidence sets a limit to this downfall. However, I can understand OP's logic --- he got out and now it only profits him if many other people get out too. I did similarly just before PeerCoin's last parabolic rise. I quickly bought in and started spamming the crap out of the trollbox and forums telling everyone about Nubits. Made me quite a nice profit but such propagation is very subjective and thus should only be taken with a grain of salt.

[williamevanl]

It's not going to happen, nearly all crypto have and will continue to scale down linearly with Bitcoin (if not worse). I feel terrible for the majority of alt traders these days. If I had invested in Mastercoin or Auroracoin I'd have jumped off a building by now.

I'm not spamming for the purpose of lowing the price, this is just a BC discussion board, this shouldn't affect the price at all. Crazy to think a couple posts could throw it one direction or the other.

My main point is who cares how cheap Bitcoin gets, we know it will someday be something huge, might take 20 years but we have the benefit of watching all others lose confidence around us and piling up Bitcoin in the mean time.

[anu]

$30 dollars is too much for a Bitcoin right now.

After the 2011 surge, prices dropped from $32 to $2. The sentiment was the same as now, but a lot of people entered into Bitcoin since then.
After the 2013 surge, prices dropped from $270 to $60. The sentiment was the same as now, but a lot of people entered into Bitcoin since then.
After the 2014 surge, prices dropped from $1100 to ~$360. A lot of people are entering into Bitcoin now.

The resistence is growing strong. Volume is going up.Strong hands are buying what weak hands are selling. The end of the bear market is near. $30 is just bearshit.

[blade87]

It's just an idea, a 20$ Bitcoin still makes it a 500 Million dollar idea. (for f's sakes!) Somehow I'm the crazy one.

You are so naive. Have fun losing the rest of the 500 million dollar idea if it gets to $20, while the rest of us have moved on to other markets. The only plays at that point will be very short term trades all the way down to $0.

I've sold plenty of BTC between $400 and $570, but wanting it to drop to $20 so I can buy a ton cheap with the same amount of money is just stupidity. If it drops below $100 and stays down there, I'll start moving my fiat away from crypto entirely. And in the 20 years you wait, something better will come along and make $0 BTC final.

[Unbelive]

Bitcoin will not go below $300.

Why, Thy said will not go under 500, not go under 400, why would not go under 300?

[NotLambchop]

...
The best part is that while you're buying at $20, it'll be me selling my bag to you before it drops to $0.xx.
...

Unless you're selling your bag as we speak, what makes you think you'd be selling it @20?  At what price will you consider your BTC holdings "[your] bag"?

[dropt]

...
The best part is that while you're buying at $20, it'll be me selling my bag to you before it drops to $0.xx.
...

Unless you're selling your bag as we speak, what makes you think you'd be selling it @20?  At what price will you consider your BTC holdings "[your] bag"?

$20 Obv. Sharpen up Brony 

[NotLambchop]

>@20 Bitcoin will be your bag
>∴ it won't be your bag @ anything above 20

[zyzzbrah]

Well we are headed towards a REALLY slow price so if you are a whale now, get ready to dump or either have balls and hold. There will be a redistribution of current Bitcoin economy which is ridiculously unfair. A second chance for people is what we need, so let it crash and fuck super early luckfags.

[RejiDevsa]

Well we are headed towards a REALLY slow price so if you are a whale now, get ready to dump or either have balls and hold. There will be a redistribution of current Bitcoin economy which is ridiculously unfair. A second chance for people is what we need, so let it crash and fuck super early luckfags.

I wouldn't want it to crash just so it fucks people who got in early and have believed in Bitcoin so far. I would rather I would have gotten in earlier. Anyway, what happened to all the naysayers here, now that the price is on the rise again? Over $400. Got tired of looking stupid?

[NotLambchop]

... Anyway, what happened to all the naysayers here, now that the price is on the rise again? Over $400. Got tired of looking stupid?

*cough*

[the joint]

$30 dollars is too much for a Bitcoin right now.

No, you simply have no idea. If it dips below $300 for even one second, the buyback will be like you never seen yet. So the market does not agree with you; it's either everybody who has alot of money is stupid and you are smart, or the other way around. Unfortunately for you.

+1
Op is retarded

Didn't Bank of America estimate FMV to be around $1300 a year ago?

[the joint]

You dont want BTC at $20, it would be game over at that point. Upper 100's is realistic, but still an outside shot.

Technically (though not psychologically), price has absolutely nothing to do with market instability. There is absolutely no technical reason, and not even many good psychological ones, why Bitcoin can't fall to $20 and stay there.  If you look first at price to determine the strength of the market, you're doing it wrong.  Price is *only* reflective of market strength/weakness when explained by mediating variables.

Edit:  I wouldn't count on $20 anytime soon, though 

[BrewCrewFan]

Ill eat roman noodles for a MONTH solid if any of you who think BTC should be 20 bucks, Ill buy em off you for that price.

[ScryptAsic]

Bitcoin will not go below $300.

Why, Thy said will not go under 500, not go under 400, why would not go under 300?

Because it already hit the bottom, the only way is up..

[pattu1]

$30 dollars is too much for a Bitcoin right now.

No, you simply have no idea. If it dips below $300 for even one second, the buyback will be like you never seen yet. So the market does not agree with you; it's either everybody who has alot of money is stupid and you are smart, or the other way around. Unfortunately for you.

+1
Op is retarded

Didn't Bank of America estimate FMV to be around $1300 a year ago?

I think they were talking about the maximum possible FMV.

[CryptoCarmen]

Bitcoin will not go below $300.

Why, Thy said will not go under 500, not go under 400, why would not go under 300?

Because it already hit the bottom, the only way is up..

There is no bottom actually. When enough people decide to sell price will move down to any level.

[pereira4]

There are so many of these 'buy Bitcoin now, it's so cheap' threads but they simply aren't true. I can't believe though there aren't more posts about how awesome this slow crash to oblivion is. We might actually get a second chance at this thing back at prices that were seen before. We might see 20$ Bitcoin in the future.

We all know it's going to be big some day and we should all realize it's been hyped well beyond what it probably should be at. I'll be buying Bitcoin probably around 20$. I hope the majority of bs investors do completely lose faith in Bitcoin just so I can buy in where we were a couple years ago.

I sold at ~600 realizing that there's no place for BC to go but down for quite some time. I think it's going to surprise people just how low it goes, remember though, it's still just as amazing as it ever was, it just got too big too fast. Everyone at some point is going to be afraid of it but not us. $30 dollars is too much for a Bitcoin right now.

It hasn't really started tanking yet, but there will be a tipping point where it will flash crash well below 100$. (My guess is probably right around the time that people realize this is a very likely possibility!)

The best part is that while you're buying at $20, it'll be me selling my bag to you before it drops to $0.xx.

You missed the sub $100 boat buds, and hoping that Bitcoin implodes to $20 so you can buy in speaks volumes (mainly greed, jealousy, and retardation).

Good luck with that.

It depends. When you pass a certain low treshhold the value enters a battle stage between boat jumpers and people that want to get in the boat. If the people that want to get in the boat want to get in big time, they will and the price will start going up as more people regret selling. Nothing guarantess a 0.xx scenareo once you pass what seems a very low price.

[inca]

There is no bottom actually. When enough people decide to sell price will move down to any level.

There is no top either. When enough people decide not to sell the price will move upwards to any level (this has happened repeatedly in bitcoin's past five years).