Quote from: HI-TEC99 on Today at 05:19:18 PM

Quote from: empowering on Today at 12:45:10 PM

Quote from: cAPSLOCK on Today at 12:32:52 PM

Quote from: hostm on Today at 04:58:05 AM

If bitcoin keeps falling soon it won't be enough to just hold BTC. Every holder will have to buy a miner and make it work at home. Because falling under $ 17 000 will force many miners to turn off their equipment. Those who mine with S17 and pay $0.1 per kilowatt lose $1.2 every day if 1 BTC costs $ 20 000.

Oh my God... I just had this terrible thought... This could lead to a sort of negative feedback loop! Ahh, what could we call it... an "abysmal spinning down". No too clunky. Umm, a "deceasement loop"... nah deceasement is not a word, is it?

I don't know... someone could come up with a good name for it.

How have we never thought of this before?

...death spiral ?

When people started talking about a death spiral in 2018 the bottom was in.

This is from December 3, 2018. It's by a University professor of finance "expert".

https://www.ccn.com/worthless-bitcoin-has-entered-death-spiral-finance-professor/

People have been talking about a Bitcoin death spiral since May: A BTC “bank run” type of scenario caused by a negative feedback loop of rapid mass loss of confidence, similar to what happened to Terra.

Since then, depending on exactly which “death spiral” talk you count as “starting”, BTC has lost a third to almost half of its value. IIRC (and it’s likely I missed something earlier), I first saw “death spiral” talk about Bitcoin after it had dipped below $26k in the Terra dump, then bounced back above $32k. Thus, by this theory, the bottom was about $25.5k; and at $32k, the recovery was on!

That does not sound like a very reliable indicator that the bottom is already in. But then, what do I know? I am such a rube, I still do not know that 200 WMA is “not dead” as a predictor of the bottom. /s Roll Eyes

...and I am so foolish, I lack faith that the previous cycle top can never, ever be revisited—let alone broken. <jay> Roll Eyes

</jay>

WO now features discussion of a “Bitcoin death spiral”. So, let’s see how much Jay appreciates my allegorical gold-market theory that Bitcoin is fine. Good as gold.

Quote from: JayJuanGee on Today at 05:44:33 AM

Quote from: death_wish on June 29, 2022, 11:19:51 PM

At that, sputtering cursewords in impotent rage is not a good look for you, Jay. Especially not when anyone can review the thread, and see that I raised gold as an analogy to teach a lesson to all of the weak-hands who are scared about Bitcoin’s little dip here. You have been tilting at me like Quixote sicced on a windmill, when I have been pointing to gold’s worst historical bear market to tell the scared people that Bitcoin is fine. At this point, your irrational reaction to my Bitcoin-is-fine thesis is beyond baffling, and far into the realm of boring.

I am glad that you are here to save us and to let us know that "bitcoin is fine."

Thanks for that. You are so

helpful.

Wink

Where would we be without uie-pooie?

It's a rhetorical question no need to actually answer it.

Cheesy

Quote from: JayJuanGee on Today at 08:16:45 AM

Quote from: death_wish on Today at 06:29:16 AM

Quote from: JayJuanGee on Today at 05:44:33 AM

[No-substance shitpost, beneath substantive reply.]

Good job losing the respect I’ve held for you for more years than you realize.

Well that sucks.

Food for thought.

I don’t do “batslaps”.