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Author Topic: How Low Does Bitcoin's Price Need Get to Make People Stop Believing?  (Read 6611 times)
googlemaster1
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October 05, 2014, 04:59:44 AM
 #41

The miners are taking way too much money out of this system anyway.

To maintain a healthy market, we need the miners to get compensated fairly, sure, but the drastic increase of efficiency in mining gear has made producing bitcoins much cheaper.  A high bitcoin price does nothing but compensate those miners for the risks they took, and whoever happens to be on the winning side of that trade (and hodlers ofc)  Most mining gear from Bitmain and other companies should be close, or have already ROI'd by now, if purchased at an appropriate time.  Institutional miners can stop the dumpfest and wait for the price to recover and get enthusiasm up again (because this is a permabull market, need I remind everyone here, that at this point, the bulls remain unshaken, and the people with large stakes of coins can't afford to be bears anymore, and where the hell else is the downward pressure going to come from?  Miners will stop selling, bears are ready to jump off the bandwagon, they are already setting their SL's closer and closer together....

At some point, for all those invested in bitcoin, even if it means climbing on razor thin volume, the dumping will stop.  You can bet on that.  After all, miners have millions of dollars worth of hardware, they aren't going to just shut the shit off....

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October 05, 2014, 05:02:28 AM
 #42

SELL! SELL! SELL!!!

Must sell low!!! Must buy high!!!
googlemaster1
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October 05, 2014, 05:08:57 AM
 #43

Back in 1996 I bought 18 rookie cards for $49 each.
(all of my paper route savings)

They went up to $58 and I bought special hard plastic cases and put them in a secret stash above my closet.
I totally forgot about the until last summer.

I looked them up.
They are now worth $3 each.

Screw football cards.

Should have bought cards with utility instead... like Magic cards.  Best investment of my life Cheesy... If only Mt.Gox was what it was supposed to be in the first place!

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YoyodyneSystems
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October 05, 2014, 05:25:46 AM
 #44


Block halving time frame for Bitcoin needs to be shortened.
Otherwise the slide will continue.
Either that or Proof of Stake in some variation.

This can be implemented with some balls on the part of the community.

Bitcoin is ready for mass adoption so it's now time to end the madness of non-stop mining dumps.
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October 05, 2014, 05:41:20 AM
 #45


Bitcoin is ready for mass adoption so it's now time to end the madness of non-stop mining dumps.


No, it is not. It has been estimated that the network can handle about 7 transactions per second. If it gets "mass adoption" before the network migrates to larger blocks, it will only have a niche essentially replacing wire transfers. The fees would be too high for buying coffee or porn.

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October 05, 2014, 08:17:46 AM
 #46

Bitcoin will be dethroned in near future....BTC obsolete, there are better projects based around blockchain technology...just needs time get more recognition.
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October 05, 2014, 08:52:19 AM
 #47

Bitcoin will be dethroned in near future....BTC obsolete, there are better projects based around blockchain technology...just needs time get more recognition.

It's not going to be that easy. BTC is the most widely spread coin. Stability is achieved by having a vast number of people use a coin. BTC has got such a massive fan base because it was the first, people didn't have any choice. Nowadays you've got dozen of new coins coming out every day. And every new coin has to have amazing features to be able to attract believers and even then, it's only until a 'trendier' coin comes along. There is too much competition for a single altcoin to win the world like Bitcoin did. It could happen but chances are slim.
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October 05, 2014, 08:53:00 AM
 #48

I'm going to hold all of my coins just incase BTC goes to the moon but the price is going down seemingly every day.
I think BTC is dying.

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October 05, 2014, 09:03:17 AM
 #49

One week+ with single digit and I will begin doubt in Bitcoin future. How likely is that? I believe very slim chance

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Nobitcoin
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October 05, 2014, 04:14:57 PM
 #50

Well all the sandwich boarders are right bitcoin is a bubble and all I seen for the past couple of weeks is a slow and steady decrease in its price... I do believe a lot of people are jumping ship... I think $100 seems reasonable making it available to the masses.
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October 05, 2014, 05:41:55 PM
 #51

I personally don't care too much about the price. Bitcoin is a revolutionary technology and can have many uses. I'll always believe Smiley.
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October 05, 2014, 05:47:26 PM
 #52

Bitcoin will be dethroned in near future....BTC obsolete, there are better projects based around blockchain technology...just needs time get more recognition.
False. New shitcoins offer nothing that bitcoin cannot offer and are much less secure. The network that "secures" the shitcoins are primarily secured by rented hashpower by the devs who can easily manipulate the blockchain
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October 05, 2014, 06:11:55 PM
 #53

Lower price is, wider can bit coin adopt. If it will go to $1, everyone will buy few of them.
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October 05, 2014, 08:21:17 PM
 #54

is there any price point that would cause you to pull your money out of bitcoin?
Not really. Selling locks in your losses. By the time the price gets so low that I truly write Bitcoin off, I'll already have lost so much that losing the residual value won't make much difference. I'd rather hold and hope something changes. A trader would sell on the way down, then buy it all back at the bottom, but to do that you need to watch the market like a hawk, guess correctly where the bottom is, and have nerves of steel. I'm not that guy.

The thing is, "price" is the wrong question. It'd be existential threats to Bitcoin that would make me sell. Like flaws in the maths, new legislation or competition from a new coin. Now, I am a fan of certain PoS coins, and if it looked to me as though one of those coins was kicking Bitcoins arse in the markets, then I'd sell my BTC because it would be over. That's not what's happening today. The fiat isn't flowing out of Bitcoin and into some other crypto-currency. It's crypto-currencies as a whole that are crashing. And I don't see a reason for that. The value proposition is still sound. At some point you have to have some faith in your own judgement and just hold on.

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October 05, 2014, 09:16:03 PM
 #55

At $0, if we get there, I'm still gonna be running a full node...I might start mining again too.

Hardfork aren't that hard.
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October 05, 2014, 09:55:41 PM
 #56

Someone has just dumped 27K of BTC!!!! thats a big sell order!

Could be a good time to get cheap BTC!

THE XEMURAI WILL DELIVER
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October 05, 2014, 10:04:18 PM
 #57

Someone has just dumped 27K of BTC!!!! thats a big sell order!

Could be a good time to get cheap BTC!

That is a very optimistic interpretation

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October 05, 2014, 11:03:14 PM
 #58

Believing in the technology of bitcoin? NEVER! Unless we find a major, MAJOR flaw in the protocol that is not reasonably fixable. 
If bitcoin hits a dollar, I wil buy 100! and HODL

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October 05, 2014, 11:08:04 PM
 #59

Bla bla bla ;] everytime when price is low.
Don't agree single word.

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October 05, 2014, 11:28:49 PM
 #60

Someone has just dumped 27K of BTC!!!! thats a big sell order!

Could be a good time to get cheap BTC!

That is a very optimistic interpretation

Well its pretty cheap now dont you think?

THE XEMURAI WILL DELIVER
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