Price drop : bitcoinners happy ?

[rikfredsy]

Hello all ,
Why people are happy about the prices drop
I ask a miner he said that he is happy too why ? his profile will drop also

[bitcoinbelieve]

Hello all ,
Why people are happy about the prices drop
I ask a miner he said that he is happy too why ? his profile will drop also

He must be high....Mining is like a business, if your expense is greater than your income you will go out the business, well in this case the mining.

[Possum577]

I'm happy for the drop in Bitcoin to USD price.

• Lower price means lower barrier to entry for new users
• Lower price potentially allows others to get in at low prices (IF that to-the-moon talk becomes a reality)
• Lower price puts to shame all the people who declared with absolute certainty that the price would just continue to grow and grow in 2014, without any sort of basis of fact for them to make that call

[H.W.Z]

I'm happy for the drop in Bitcoin to USD price.

• Lower price means lower barrier to entry for new users
• Lower price potentially allows others to get in at low prices (IF that to-the-moon talk becomes a reality)

There is high probability of that the newcomers are scared out of bitcoin. But exceptionally for the faithful bitcoiners, they will be happy to accumulate thier bitcoin stash.

[btckold24]

maybe he plans on buying at these low levels and also hoping difficulty will drop.

[Talor]

To be honest, I do not understand for the price,too.



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[SargeR33]

As a miner, I don't like the price drop at all. I feel it will drop to $250 over night. If that is the case it will no longer be feasible for me to mine. I will have to switch off my miners and see how things flow out. I don't mind if the current BTC I have will drop to something worthless but I will not lose money running miners for nothing.

There is no reason to be happy. This will turn off a lot of miners. If we lose a big portion of the hashing power, how much power will there be before transactions take too long to process. New people will not be getting in either since the risk of being scammed is quite high and the returns are low. There are FAR too many people using online wallets, keeping their BTC online.

[WillyBTC]

As a miner, I don't like the price drop at all. I feel it will drop to $250 over night. If that is the case it will no longer be feasible for me to mine. I will have to switch off my miners and see how things flow out. I don't mind if the current BTC I have will drop to something worthless but I will not lose money running miners for nothing.

There is no reason to be happy. This will turn off a lot of miners. If we lose a big portion of the hashing power, how much power will there be before transactions take too long to process. New people will not be getting in either since the risk of being scammed is quite high and the returns are low. There are FAR too many people using online wallets, keeping their BTC online.

Bingo. The above poster that mentioned his miner friend was "happy" -- that's an anomaly. Maybe that person is planning to buy coins cheap at a scale larger than his mining operation. Because otherwise, miners have nothing to be happy about.

[LitcoinCollector]

Well I am not happy with the drop. But then again who knows what Bitcoin will do in 5-10 years.

[Furio]

As a miner, I don't like the price drop at all. I feel it will drop to $250 over night. If that is the case it will no longer be feasible for me to mine. I will have to switch off my miners and see how things flow out. I don't mind if the current BTC I have will drop to something worthless but I will not lose money running miners for nothing.

There is no reason to be happy. This will turn off a lot of miners. If we lose a big portion of the hashing power, how much power will there be before transactions take too long to process. New people will not be getting in either since the risk of being scammed is quite high and the returns are low. There are FAR too many people using online wallets, keeping their BTC online.

The network is far bigger then needed atm. The big problem with bitcoin, the hardware armswar, will be contained a bit by this. That's why the miner from the OP is happy. You needn't worry about slow transactions, the bitcoin network grew much too fast, because of the hardware armswar. Satoshi himself warned after the development of ASIC, that ASIC companies should agree to a gentlemen's agreement that the HW slowly be turned up, yet we all know how that went.... In my view, the problem with bitcoin is that we as a people are not ready for the responsibility the decentralization of bitcoin (crypto)tech provides us. It's way ahead of time, because the revolution on moral grounds to end corporatism that's destroying our only planet hasn't started yet... The tech is here, yet the will and the sheeple aren't ready yet.

In that way it makes me think about communism, if people were perfect and really equal in their hearts, communism is the perfect system, yet man is not perfect, and therefore communism can't succeed, because greed makes people wanna have more than the other. It's also a shame that the biggest movement that wants to change that, Zeitgeist, doesn't see bitcoin/crypto as a way to distribute wealth equally, yet as purely as a new kind of money, which they wanna abolish in the resource-economy. I think crypto IS the way to be in resourced-based economy, no manipulation, fairness by protocol, only the distribution will be the challenge

[wadili89]

I am not unhappy. I never bought BTCs but now I am thinking I might put some savings into it.
I will see for a few days to see whether this is the bottom.

[Q7]

No way a miner could be happy. He needs to take care of fixed cost like electricity and hardware depreciation factor or else no point for the guy to continue mining. On another note, if we look at it positively...

As price drops, I hope it will reach the state of equilibrium of neither being overpriced or undervalued, this will deter speculators from causing price volatility
Give a chance for newbies who were previously hesitant about bitcoin, a chance to grab some stash of bitcoin or in other words, helps coin distribution

[Agestorzrxx]

Hello all ,
Why people are happy about the prices drop
I ask a miner he said that he is happy too why ? his profile will drop also

If you believe bitcoin, the low price means you can buy more bitcoin with same money.
It will come back anyway.

[sandykho47]

I'm happy if i can buy bitcoin while the price low & after that the price become high again
Most of bitcoiner will think so too

[ajw7989]

I'm happy if i can buy bitcoin while the price low & after that the price become high again
Most of bitcoiner will think so too

The problem is the price is on a constant decline so no matter what price you buy in there seems to always be a lower price incoming within a month. Hopefully after the weekend it jumps up to 300. Guess we are back into drops on weekends

[Lethn]

The weak holders who aren't going to be here long term or bought too high are being driven out, this will mean something interesting is going to happen to the price in the next couple of months.

[1Referee]

People who are looking to buy themself some extra coins are happy, yes.

Don't think miners are that happy with current price decline.

[michaeladair]

Now we can buy more bitcoin for cheap!

[elephantas1]

Now we can buy more bitcoin for cheap!

if you did not buy it on 600 dollars then its good but there were people who thought it will raise from it and bought back then now its almost 2x down

[Bananana]

Game over, electricity bills is higher then bitcoin I mine, so why is everyone so happy about making losses?