Revisits sub 1k as miners capitulate one after the other like flies.
Bitcoin Mania
Zachary Martinez
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Leo Collins
>miners capitulate
if it's profitable to mine at the current hashrate for 9000 bucks, worst case is 4.5k, at some point buy pressure will ensure a new point of equilibrium
you can just switch off ASICs temporarily if they are not profitable
keep also in mind that sell pressure is disappearing, just look at dormant addresses, so the odds of a death spiral is like 1/10 (and even if this happen, worst case is like 4k)
Charles King
possible, my 9k short will save me from this disgrace tho
Zachary Foster
the problem is the following:
price is below $9k, miner breakeven is above $7k for 10nm miners around $5k for a lot and little below $4k for newest 7nm miners
hashrate is near ath
price drops, miners turn off their machines at first
mempool gets congested nobody can move in and out of exchanges
people panic
price drops more
more miners turn off their machines
more congestion
fees skyrocket
more people panic more selling
and so on, until only the strongest of hands are left probably around $1k to $3k
and that is an optimistic scenario because it takes 2 weeks for difficulty to adjust and start getting back to normal.
Carter James
also i think the real difference between $5k and $1k is what the entire global market is doing if the stock market has a meltdown it's $1k or triple digits.
Jackson Sanders
Anyone who knows enough to move BTC out of an exchange is not going to panic about memepool
William Lopez
We already know what BTC does in a stock market crash. Goes down 60%. Even more than silver. It's completely worthless.
Isaiah Walker
Its going to keep going bros.
That giant BTC mining farm in Texas is going to be bigger then even Bitmains stuff. The bubble never ends even if it is dinosaur tech
Jace Clark
I can't wait to scoop up 80 BTC for $1K a piece :)
Hunter Green
God, I really fucking hope you are right bro. But I doubt it. This shitmarket is totally manipulated and makes absolutely no sense at all
Hudson Garcia
it's not bitcoins fault that idiots have weak hands and are prone to panic.
Asher Butler
Too many people wanting that, so we will only crash to 1k, then 100k.
Brody Hill
my bullish scenario was going to $14k before halving and drop back to $9k into and after the halving.
that however is running very very late i don't think it will happen anymore.
i think we are either heading to the biggest nothingburger crab halving or a disaster.
Julian Miller
>this cope
Asher Wilson
>my bullish scenario
Lucas Diaz
People sell, not because they have "weak hands," but because they know that BTC is a scam and a ponzi scheme. It got taken over by Blockstream, banks, and financial institutions early on. The real devs all migrated to BCH. The technology of BTC is so primitive that it can't scale with even 0.01% of the population without breaking down. Whales know this. That's why it's been a pump and dump from $3000-$10,000 for three full years now without going anywhere. Everybody knows there is no long-term future in BTC except for the naive normies; but when they get conned this time, they won't come back. BTC won't drop to $3000 this time; it simply will go to zero.
Contrariwise, people held on to gold during the stock market crash because they truly had confidence in it.
Brody Richardson
lol you utter brainlet. you can't just have one scenario. you have to plan ahead be ready for anything. have strategies for any outcome!
i'm personally ready for btc going to $100k overnight at all times. but i the meanwhile i'm ready for a disastrous halving also.
Aiden Watson
Bottom is in you retard. Enjoy buying back in at 20k.
Dominic Perry
>i'm personally ready for btc going to $100k overnight at all times
Christopher Perry
The whales will dump BTC long before $20,000. That will trigger a series of stop-loss orders that will bring about one of the quickest and most catastrophic losses of wealth in human history.
Anthony Wilson
>Enjoy buying back in at 20k.
Michael Roberts
your idiotic narrative falls apart on the examination of multi-year wallet balance ages which are going UP
Logan Taylor
>bagholders bagholding
>ok this is based
Carson Ross
The board destroyer
Justin Sanders
>The whales will ...
*insert random shitcoiner wankfiction*
meh you have no clue what they will do but most of the bitcoins in existence haven't moved in like 5 years.
only weak hands and idiots are really selling here.
Ethan Nelson
Seriously, only an American chimp would be this obnoxious
Justin Rodriguez
>The real devs all migrated to BCH
Isaiah Johnson
How do you expect mass adoption of your memecoins without exposing it to the risk that retails is going to bail at the first sign of trouble and crash the price
Camden Sanders
Explain to me how you think BTC can possibly go up any further. The narrative is that it will reach the market-cap of gold and so be $100,000 a coin. That's how all the moonboys get poor normal fools to part with their money. But it can't even scale for 0.01% of the population without breaking down. It does not have the capacity to support more than a few hundred thousand active users. All the real devs, knowing this, left long ago for BCH--they got pushed out by corrupt institutions. BTC is a cult that censors all criticism. Once normies realize what is going on, and after the next dump occurs, who is ever going to touch such a toxic asset again?
Nathan Fisher
the solution is simple over time the market cap grows to what gold has and settles the fuck down volatility greatly decreases and risks (also rewards) associated with holding bitcoin decrease a lot. until that enjoy the wild ride!
>Explain to me how you think BTC can possibly go up any further.
very easily.
Ayden Gray
Did you sell at 7k and got left behind?
SAD!
Andrew Smith
>BTC is a cult that censors all criticism.
lol... is that what you think? man you should got to north korea or something.
Matthew Murphy
This is literally the only argument which moonboys have. "BTC went up before, ergo BTC is going to go up forever, haha, I bet you don't have any BTC, you lose."
Kayden Allen
pic related is everyone that sold
LMFAO!!!
Blake James
People who bought btc before 2017 were speculators at best.
Anyone who buys bitcoin now is a certifiable idiot
Cooper Perry
You can read about it here.
medium.com
The fact that the original devs of Bitcoin were pushed out by the Blockstream crowd is well known.
Nicholas Jackson
it will not go up forever nothing does but it will most likely go to $1mil before going to $0.
altcoiners are impatient as fuck. most of them are also retarded some have fair criticism but all of them share the same basic traits: don't understand consensus and can't fucking wait and see.
Charles Ward
there have been roughly 600 bitcoin devs and they pushed out 1 but didn't actually push him out either just revoked his commit right after he compromised himself in a silly manner. nothing stopping anyone from doing a pull request including gavin.